Arctic Oil Drilling - Boon or Bane?

The latest news that has created waves in the world of oil rig is the possibility of oil drilling in US Arctic. The crowd has been divided in favor of and against US Arctic drilling. A brief synopsis of this event and its effects on oil drilling equipment manufacturers...

The need for oil has increased in the recent years. Unfortunately, there are not many oil rigs left. This has lead to the rise of oil prices and consequently of all other commodities everywhere. Also, many countries like the USA have to depend on other countries, and pay a very high price for very little oil. Hence, oil drilling companies are always on a lookout for new sites for drilling.

A renowned oil company recently claimed that the Arctic regions that are close to Alaska are ideal for oil drilling. More than five companies have already headed to Arctic as the new round of oil drilling is due this July (2012).

But what led to the sudden interest in the Arctic? Well, as we all know the ice on the Arctic has begun to melt. Though this is a catastrophic event for rest of the world, it is a boon in disguise for the oil drilling companies. As the ice has begun to melt, many regions of the Arctic Circle are now easily accessible.

According to the US Geological Survey 2008, the Arctic holds 13% of the world's technically recoverable oil supply, which is almost 90 billion barrels of oil! However, the environmentalists fear that offshore drilling can be disastrous in case there is even a single event of oil spilling. The oil drilling companies however, have assured the environmentalists that only the best wellhead equipment will be used for the purpose.

Blowout preventers and wellhead equipment certainly play a crucial role in oil drilling, whether it is offshore or onshore. We at Integrated Equipment manufacture state-of-the-art wellhead equipment and pressure and flow control equipment like expanding gate valves. Our products conform to Manufacturing Quality Standards and are accredited per ISO 9001. We manufacture annular and RAM blowout preventers as per the norms of API 16A.

The US Department of Interior (DOI) has approved the Oil Spill Response Plan (OSRP), as the oil drilling companies claim to have a developed a plan, to protect the environment and avoid hazardous incidents like a well blowout. Incidents like this can in fact be avoided if quality oil drilling equipment is used. However, there are many more aspects that need to be considered before moving to the Arctic. If the oil drilling companies are able to put the concerns of the environmentalists to rest with a full-proof plan, the oil drilling in Arctic is sure to be a revolutionary step in the history of oil drilling.