deep water

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deep water

[′dēp ′wȯd·ər]
(oceanography)
An ocean area where depth of the water layer is greater than one-half the wave length.
References in periodicals archive ?
We are excited by the progress that we have jointly made with Shell on all four high-specification, ultra-deepwater drillships, including the Deepwater Thalassa, which was delivered this September, and the Deepwater Proteus, which is scheduled for delivery this December.
Report author Balwinder Rangi said, "Africa and the Americas continue to dominate deepwater capital expenditure (Capex), with $213 billion set to be spent over the next five years.
Robust oil prices support investment in deepwater developments - the sustained high oil prices over the past few years have increased confidence in the sector.
However their deepwater exposure relative to their own reserves ranks in the bottom half of a group of 12 companies surveyed, as does their average unit development cost per barrel of oil equivalent (boe).
Deepwater Driller owns the ultra-deepwater, semi-submersible drilling rig Songa Eclipse, currently under construction at Jurong Shipyard Pte Ltd in Singapore and due for delivery in August 2011.
Collins said this "network-centric system" will go a long way toward enhancing the Coast Guard's coastal and deepwater maritime capabilities, as well as its ability to conduct surveillance and tracking--all vital to the Service's missions.
Recognizing this, the Coast Guard has established a dedicated deepwater international staff to educate prospective foreign customers on the capabilities, platforms, and systems that the program will generate.
The management at CCR believes that deepwater offshore regions are expected to supply an increasing percentage of the world's demand for hydrocarbons.
Another Texaco-led consortium has also formed a partnership with Petrobras that will invest an initial $50 million to explore for oil--as opposed to developing already-discovered finds--in another Campos Basin deepwater area near Roncador.
The new report* states that the search for hydrocarbons in more challenging areas has been on the rise, as advances in drilling technologies have led to the discovery of giant deepwater oil and natural gas fields worldwide, prompting ambitious International Oil Companies (IOCs) and National Oil Companies (NOCs) drill in remote offshore areas in search of fresh fossil fuel reserves.
Report author, Rachel Stonehouse, commented, "The 'Golden Triangle' of LatinAmerica, the Gulf of Mexico and West Africa will dominate deepwater expenditure over the next five years, but African developments--largely concentrated in Angola, Ghana and Nigeria--and Brazilian projects dominate the forecast spend.
Strong demand has seen deepwater drilling firms like Transocean, Diamond Offshore, Noble, Ensco International and Pride International posting improving results and pocketing a handful of long-term contracts for their rigs.