Sun. Jun 4th, 2023

The $1.2 billion Deepwater Titan sat idle in a Singaporean shipyard for 5 years, trying like an deserted cruise ship with a derrick connected to its deck. Quickly this vessel that spans practically three soccer fields will depart for the deepest waters of the Gulf of Mexico, the place its crew will be capable of drill 8 miles under the seafloor seeking oil for Chevron Corp.

The hunt for offshore petroleum is on once more, fueled by a surge in world demand for power, provide disruptions triggered by the conflict in Ukraine and crude costs that stay above prepandemic ranges. Different big rigs akin to Titan that had been dormant close to the top of the final decade are additionally now working in deep waters alongside the coast of Brazil, whereas rigs missing propulsion are mining shallower waters within the Center East after hitching rides to that a part of the world on tugboats.

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