With fewer remaining easy-to-access oil fields, the oil industry has moved into new growth avenues such as onshore unconventional hydrocarbons and operations in more remote and deeper water areas offshore. The ongoing development of new hydrocarbon discoveries in different deepwater regions creates significant opportunities and investors are venturing into the exploration and development at record water depth levels.

Deepwater discoveries accounted for approximately 50% of the proved and probable hydrocarbon reserves discovered in 2010. But, while the potential is huge, deepwater developments present an array of challenges. To overcome these challenges, the choice of a technological concept is key. This article discusses some of the most critical aspects of deepwater developments and includes some key considerations for the selection of production platform technologies.

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