OFFshore drilling
Offshore drilling is used to extract oil deposits
buried under the ocean floor. Offshore drilling rigs are
installed, operated and serviced on large platforms built out in the
ocean. These platforms can either float or sit on tall ‘legs’ that touch
the seabed. In this way, the offshore rig is able to remain stable and
resist waves, wind and, in colder regions, floating chunks of ice.
Because of its difficulty, offshore drilling consumes more than
65% of planned investments even before oil is extracted,
increasing the risk of financial losses, especially if
wells come up dry!
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