DeepStar has always been the industry’s best mechanism for the progression of collaborative offshore technology development and throughout the years adapting to new market conditions and drivers.
The DeepStar Program was initiated in 1991 and until recently, has been administered by Chevron. The Program identifies and assembles a technical portfolio of projects with its mission to develop cost-efficient, low-risk methods to produce hydrocarbons from deepwater.
Deepwater areas of the world contain significant reserves and remain one of the best exploration and development opportunities for oil companies. However, producing hydrocarbons in deepwaterpresents both commercial and technical challenges within our current market environment.
Through the DeepStar program, oil companies, vendors, regulators, academic and research institutes have collaborated to develop the technologies necessary to tackle offshore issues. Its common format has involved defining deepwater projects that are driven by business needs, creating scenarios for going forward, coming to a common understanding of high-level objectives, framing knowledge gaps, and identifying technological capabilities; and seeking solutions. In doing so, each participant minimizes the costs and risk of developing the technology, while at the same time, making the most of its particular technology achievements.
The value of DeepStar is that it offers participants the opportunity to significantly leverage their technology investment and co-develop solutions to a common issue or need.