US issues new rule to cover growing use of floating platforms

Washington (Platts)--19Jul2005

The US Minerals Management Service Tuesday issued a final rule that
streamlines the permitting process for floating oil and gas platforms and
incorporates industry standards pertaining to their use. The rule, which
becomes effective Aug 18, is MMS' first to address floating facilities--used
largely in deep waters--separately from fixed platforms, the agency said. 

The expansion of existing regulations to include coverage of floating offshore
oil and gas production platforms and incorporation of industry standards "save
the public the costs of developing separate, and possibly duplicative,
government standards, and will streamline procedures for reviewing and
approving new offshore floating platforms," MMS said. 

Floating platforms have become much more widely used over the past decade as
oil and gas activities in deep waters expand. In 1993, deepwater areas of the
US Outer Continental Shelf accounted for some 12% of the oil and 2% of the gas
produced offshore. By the end of the 2004, those percentages had soared to 62%
and 32%, respectively.

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