Perform A Study On The Development Of Offshore Platforms

Development of offshore platforms Name:Institution:Date:‘IntroductionThe demand for energy for consumption in industries, transportation and other purposes coupled with the increasing population of world has made oil a highly valuable commodity, which is highly sought after. The exploration of oil is very expensive and requires the best technologies and resources to ensure that it is discovered, extracted from the ground and processed to feed the ever-rising demand for energy in the world. The world consumes approximately 800 million barrels of petroleum products each and such a high rate, oil exploration companies are always on the move to look for new reserves as the existing ones are being drained at an alarming rate (Economic Development Board, 2014). In the quest to find new oil reserves, oil companies are venturing into the ocean and deep-water bodies since this are among the few places that have not been explored adequately. Offshore oil exploration is very expensive and requires a lot of resources and expertise. Already, it is worth noting that drilling on land is a challenging experience where companies have to up to 10 kilometres to reach the oil (Yep, 2013). Offshore oil exploration has come a long way