Anyone involved in the offshore drilling industry in Virginia, North Carolina or South Carolina may soon see an increase in work, as Erik Milito, the director of upstream and industry operations for the American Petroleum Institute, says support to drill off the coast of theses states is growing between both political parties. Milito explained this week that more state and federal politicians are realizing the advantages of increasing drilling in these regions, bringing not just oil revenue, but additional jobs and helping to boost the local economies of states involved.
This news comes after two Virginia representatives, as we wrote about previously, proposed a bill that would create leasing opportunities to drill of the coast of Virginia in 2020.
Drilling off of Virginia and other states through these leases, an article in Oil and Gas Journal explained, will help the United States reach the Obama Administration's energy goal.
"Part of the problem we see is that no lease sales are associated with the Atlantic," Milito said during a conference call. "We need lease sales to drive that seismic gathering […]. When you have leasing, it makes investing all that much easier."
As support grows for this bill, and more states on the Atlantic coast have offshore drilling opportunities, it's important to consider the other factors that are needed. For offshore drilling managers, investing in the necessary offshore oilfield insurance can allow members of the industry to continue to grow and contribute to the increased energy goal, while also keeping all equipment and those working on the rigs safe.