United States and Mexico Agree to Work On Oil and Gas Development in Gulf of Mexico

Per an article on gCaptain.com, “the United States and Mexico agreed Monday to work together on oil and gas development in the Gulf of Mexico, paving the way to end a long-running moratorium on their maritime border. Under the deal, companies from the United States and Mexico would be encouraged to collaborate on projects over their Gulf maritime boundary but would be able to go ahead on their own if they do not find a partner.” See the complete article here.

 

This is encouraging news for the commercial marine industry as increased development within the Gulf of Mexico should translate into increased demand for marine services. Those service would include new construction of exploration and supply vessels, repair of ships and equipment, project management and more. Shipyards, ports and labor around the Gulf should begin to see a pick up of work. The area is still recovering from the 2010 Deepwater Horizon oil spill.

 

Naval architects, engineers and yards with interest in commercial work should keep abreast of developments. The opportunity for a revitalized marine economy in the Gulf should have a bright future.

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