How Offshore Oil Rigs Work
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- Опубликовано: 20 апр 2020
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Animation by Josh Sherrington
Sound by Graham Haerther (www.Haerther.net)
Thumbnail by Simon Buckmaster
Music by epidemicsound.com
Select footage courtesy the AP Archive
References:
[1] www.rystadenergy.com/globalas...
[2] tradingeconomics.com/commodit...
[3] www.google.com/url?sa=t&rct=j...
[4] www.offshore-mag.com/business...
[5] www.washingtonpost.com/climat...
[6] www.eia.gov/todayinenergy/det...
Watching this while buying some barrels at Dollar Tree right now
my guy you got ripped off. at these prices, they should be paying you to take the oil off their hands.
That’s where I buy my breakfast sausage, it has about the same amount of oil in it.
Where is Dollar Tree? Can we invest in oil from abroad ?
invest in my greasy sausage the oil is the same
@@MrSafer i read somewhere today the price per barrel was $-40. I have no idea how that makes sense but it was the first time in history a barrel was below $0
Barrel of oil price: less than 0$
Wendover: Perfect timing for a video.
the sun is better
Basically free oil?
@@hahaaha7400 Not just free, oil companies are literally begging others with money to take their oil. Maximum supply and capacity, but minimal demand.
Pyra Darkstorm its not the oil company, its the people who but the oil future.
Happy Deepwater horizon explosion anniversary!
This video should really be re-titled to something like "The profitability of offshore oil rigs" as I learned quite little about how offshore oilrigs actually function
You're new here, aren't you?
` lmao
Meanwhile the local ports in my area are known for dismantling them soo and then the big bucks start rolling in.
And yes i am in the UK
This. I came here to learn the intricate details of all the gubbins inside a modern oil platform, not get an economics lecture. Would not eat again.
Maybe "The economics of offshore oil rigs"
“This is actually one of the largest commercial applications of helicopters”
I knew he’d be able to connect this to aviation somehow 👍
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
Oil itself is related to aviation
Can someone explain to me why the term “Airplane” is not in the title?
10,000 Subs With 0 Videos "it is a fuel like kerosene which is what airplanes use"
Oof beautiful name
An Airport is in the video
Corona
A few kinds of airplanes aren't capable of extracting oil, so that's probably why.
7:32 - "at the time of writing, in April, oil prices are hovering around $20 per barrel"
oh how things change between finishing a video and uploading it
Brent will have a good time in a couple of years if the wti stays low for a while
Some crude is selling at -$40 a barrel. They literally are paying people to take it away they have so much overproduced.
SatansBestBuddy lol
@Adam Hillier I hope all you guys know that these are all futures that are selling and not the actual oil it self.
-$37.63 on 4/20. Ouch.
I’m expecting American liberation of Wendover any moment now
Kim Jong-un
You dying. Shut up.
@@hueynapalm his sister is hot and will destroy america
Aren't you supposed to be dead??
hey buddy, are you okay? I header you had a rough hearth operation!
Kim Jong-un you have a enough oil and fat in your body
These places will become really popular once the zombie apocalypse hits.
Which will never happen in the history of the universe
Who said zombies don’t swim?
Lol
@@ravenlord4 the next one am I missing something?
@@ex8355 So far yes, and for that we should all feel very lucky.
Wendover Productions:- How Oil rigs produce oil.
Oil Producers:- We don't do that here (anymore).
@abradolf lincler that was humour.
This video didnt have anything to do with how they produce oil though. Should be renamed "The Economics of Offshore Oil Rigs". Wendover never has a proper title.
Im just here for the Audible shout outs.
are you a fellow redditor?
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
Internet: "Now, how is he going to make it about pla..."
Sam: "Helicopters!"
I spotted an airport aswell :)
For those of you who don't know, the North Sea is the sea bordering the UK, Iceland, Denmark, Norway, Greenland, etc.
Close. Not Iceland or Greenland, those are just the Atlantic!
The full list is:
United Kingdom
Norway
The Netherlands
Belgium
Denmark
Germany
@@zackaplowitz hi close . you forgot a few places but i appreciated the improved version
@@zackaplowitz france too
@@florisk.ios.6416, the North Sea could be considered touching France like The Atlantic Ocean touches Romania, via the Mediterranean route. That's not how bodies of water are referred to. In the latter case, you'll have to refer it to as the Atlantic Basin.
@@TheSpiritombsableye no it def touches france, then Belgium also wouldn’t be touching the north sea
Love your work, Sam.
Wanted to mention that the newly opened "Johan Sverdrup" offshore rig in Norway operates with a balanceprice less than 20 dollars per barrel. That's with all expenses taken into consideration. Productcost is less than 2 dollars per barrel(!) This means they still make money even with the low prices we have right now 👍
“The global petroleum industry lives and dies by the price of oil”
*you don’t say*
"People die when they are killed"
The archer class really is made up of archers
"The floor is made of floor
"Every 60 seconds in Africa, a minute passes"
“No crime inbetween 7am to 9pm”
RIP to wendover’s content farm called ‘Aviation’.
Rest in rip
@@franzferdinand1123 Rest in ririp
@@littlemouse9586 rest in rip
@@abirfahimfahin Rip in peace
@@__--__ rip in rip
Love you work! Eagerly wait for you videos. You work is so precise and straight that one just can't leave it even for a second. Can't thank you enough for the efforts you put in bring all of this together! I would to thank you from the bottom of my heart! Thank You so much Sam ❤️
In the year of 2022, oil is over $100 a barrel and these platforms are absolutely turning a profit
oil price was negative yesterday...
no shit sherlock, i'm sure we need a random comment to remind us of front page news
@@jonathangoliath91 woah woah...who took the jam out of your donut?
Good comment. When he discussed the price, he said "as of today, price is hovering around $20/barrel" roughly. I thought to myself how quickly things deteriorated in 24 hours.
TIM333Y so you made money by buying oil?
Only the futures price. They won’t pay you to take it away. It’s just they don’t have anywhere to store the volumes atm so no-one wants to buy it and the negative futures price is more to deter people from entering into futures contracts so they aren’t forced to buy the oil when they have nowhere to store it and no customers
You know something is really bad when Wendover produces yet another vid unrelated to aerospace industries
Or china lol
He's like those cats in hospitals going to dying people's rooms
Well, he managed to sneak in some choppers.
*unrelated to bricks
Do helicopters count?
Any developing country: *has oil*
USA: *We're gonna help you out !*
I was a paramedic on a couple different oil platforms in the Gulf of Mexico. Most of the time I was the only medically trained person there. It was challenging, but interesting living and working on an offshore oil platform.
Hello.... i've got a friend working on an oil rig in the Gulf of Mexico... i know there are lots of rig over there, and i didn't know which rig he actually work... but, may I ask you, just in case you knew him or (luckily) work at the same rig with him ?? His name is Mark Robison, he comes from Austin, Texas, USA... please let me know if you knew him, or some friends do... thank you so much for your kind attention & kindness...🙂🙏
I'm currious; what was the main thing you did on them?
[Is a B-Paramedic enought to work there? It's not the exact same name in the US, but you'll know, what I mean.]
@@rhs5683I don’t know what a B-paramedic is. But to work off shore you have to have a solid background in EMS be real confident in your skills. I not only worked on off shore platforms but also on several different types of
ships often times (almost all the time I was the only medical person on board,) treating everything from simple aches and pains to serious injuries and other medial issues (chest pains, shortness of breath, etc..). To work on American platforms and he ships I was assigned to you had to have your NREMTP, ACLS, BLS, and PHTLS.
Airline industry: **dying**
Sam: *helicopters*
And oil.
Hannah Ni helicopters are cooler than planes anyway
@@awesomo660 yeah also cause more controversial deaths in my opinion.
hahahaha I thought there wouldn't be any aircraft here
@Ace Degenerate what you on about? take your fake laughs elsewhere kid.
Well this is some excellent timing. -40$ Oil prices atm
Hey we don't talk about that
NAME NAME NAME buy infinite number of barrels and profit
Thats not whats going on at all. Its at a very specific location in the US, because their storage are full but theyre getting more delivered at a certain date. Its about oil futures. You can get in on it too, 1000 barrels is the minimum lot you can get. Have fun storing it.
@@markonfilms use forex
We need to out the oil back in the ground to make a profit then.
Thanks Wendover... Yours videos are always a pleasure to watch... Especially during this quarantine
Am I the only one from Aberdeen that got excited when he started talking about us
No.
I’m from there too... unfortunately haha
Nope
I went there when we visited Scotland
Nope, you are the only one in the whole wide world of planet earth.
Now as Aviation industry is ruined Sam has shifted to Oil Production Industries
Thank you guys!!! 6.5 K likes 🤩🤩
aaaand it's gone
Hope he doesn´t make another video about the rail industry any time soon
He mentioned helicopters, lol.
ruined too
Aaaand he killed them as well, Oil prices officially went negative per barrel.
russia: no!!! you can't just reduce the price of oil by increasing production
saudi arabia: haha oil pipeline go brrrrr
glub glub!
russia should be able to win the war of attrition though. their oil may be more expensive to extract, since it's thousands of miles from civilization in the deep tundra, but they still have far more of it than KSA. KSA is taking short term benefits for political power, while sacrificing their long term economy, which will be their childrens' problem, not theirs.
USA be like: *nervously looking away*
Yeah Russia can win attrition war with saudi Arabia
@@dustycarrier4413
Blame the tree huggers
It’s so much more enjoyable when the end of the video doesn’t transition into an advert. It makes the conclusion feel more genuine.
That audible credit is awesome, I used your code and I needed one super bad and so glad when I heard you had a sponsorship from them at the end, also awesome video
In the last 24 hours oil prices turned negative and Kim-Jong Un was admitted to hospital. In the last six hours, real life lore uploaded a video about a united Korea and you realised a video about oil.
Is there something you would like to tell us?
Andrew Armstrong they probably had those videos ready a long time ago and decided to upload them now that they are topical
Luis Gutiérrez r/wooosh
Luis Gutiérrez You’re probably right though
"Deep State"
2020 surprises ain't over yet
video ideas:
logistics of cruise ships
logistics of the olympics
logistics of a car rental company
logistics of a fire station etc
Car rental would be interesting
I second this motion
I third this motion
BRICKS
So....4 more airplane videos?
This is a remarkably informative video. Thanks for producing it.
Crude oil can be refined into jet fuel.
Therefore, Sam has released another aviation video. Yay!
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
Sam, this has no airplanes in...
*talks for a minute about Aberdeen Airport.
Edit: how offshore oil rigs “worked”
This video didnt have anything to do with how they "work". Should be renamed "The Economics of Offshore Oil Rigs". Wendover never has a proper title.
I also take youtube comment section seriously
@@bootleg0012 Nobody claimed she was.
4:56 LOVE that place, really miss it, walking around the harbour was always really cool!
A good comprehensive introduction of offshores. Multiple aspects have been covered. Good!
“Costs are hovering around $20 a barrel” April 21st: hols my beer
At 7:32 .
They actually still are, June oil is being traded at about 20$/bbl
@@tgv1p3r93 You might want to check that again.
TG V1p3r also depends on which oil market. It was the US oil market (WTI and Mars) that went negative, European oil market remained much steadier.
@@that_llama_in_a_tuxedo4584 you mean WTI, not Brent.
Crude Oil prices reduced negatively in US market.
Wendover be like:
How cute new Kontent
Time to make some money
RUclips be like:
how cute kontroversy
time to demonetize.
everyone: Couldn't be happier
MS thesmart Thats not what happened. As usual, people only read the super simplified headline and now think that they will pay you to take their oil in all of US.
It takes time to make the videos. I am sure he did not just wake up today and decide to make this one...
@@onlinefarmbooks it's just a joke.
You're right but his video is not up to date because crude oil prices in US has gone negative per ballon because of no more storage space.
7:31
Wendover: "Oil prices are hovering at about $20"
Covid-19: I'm about to ruin this man's whole career
Good video in general. However, the term “rig” and “platform” are not always interchangeable. Early on in the platform’s life, there is likely a drilling rig on it to establish the wells, but during the majority of the platform’s production life, it has no drilling rig on it. Its sole purpose is production, therefore a production platform. Source: third generation oil field & engineering degree in petroleum engineering
Brandon VanAllen first time I have learned something from the comments. Thank you.
Brandon's comment sure is a refreshing alternative to the endless amount of stale, played out, and completely retarded memes. 10 years from now, idiots will still be commenting with "hold my beer" on every fkn video.
Correct @brandon
Other Branden here, former Roughneck.
Rarely are they together, unless it's a work over new well on an established platform, or a tiny platform. Most of the time our super gorilla class jack-up would be pulled out to a stump (wellhead marked in the ocean) good times for sure... but I'm glad to be out of it now!
Branden Ward if you worked on Super Gorillas, sounds like you worked for Rowan
@@ANudeItalianGuy I did indeed. I was assigned to the Anchorage when it sank. (We were pulled off the rig the day before) Then down in the yard working on the Mississippi and the Bob Palmer. Got laid off as the Palmer went to its 1st well. Got called back to work on the Ralph Coffman. (All pre ensco merger) Who did you work for?
Excellent video man your videos analysing various industries are most exciting and interesting I look forward to see more aviation and oil industry videos thank you very much for your content
The pipeline for north sea on the Ineos side comes in from the FPS (Forties), which lands at Cruden Bay, then they mix it with natural gas and then pumped down to Grangemouth which is the largest refinery in Scotland.
Most oil from the North Sea either lands at Grangemouth eventually via pipeline or via Sullom Voe terminal in the Shetlands nothing actually comes in via Aberdeen cept where the pipeline hits landfall!
Great overview - if any tourists visit Aberdeen then please go visit the Maritime Museum in Aberdeen. It's free, gives a great overview of the industry, and even has a great memorial area for the Piper Alpha incident which taught me more about it than Wikipedia ever did.
For those wondering what's up with the strange looking ship at 4:34 that is a bow design called the X-bow by a company called Ulstein. It is what's known as an inverted bow and it grants a number of significant advantages, the most interesting of which is exceptional stability and speed in rough seas. This is a consequence of a sophisticated curve to the front that allows the ship to penetrate through the wave rather than riding over it while distributing the force in such a way that minimizes resistance (and as a consequence minimizes the force being applied to the structure of the hull allowing for a lighter hull). Also it has the added bonus that it means that the boats longest point is at the water line (which improves efficiency as well) and it opens up a lot of interior space in the bow of the ship. These are a fairly recent innovation but expect for this design to become the new normal in time.
2019: how off shore oil rigs work
2020: no they can't
@Tony It's called a meme
meme
/miːm/
Learn to pronounce
noun
noun: meme; plural noun: memes
1.
an element of a culture or system of behaviour passed from one individual to another by imitation or other non-genetic means.
2.
an image, video, piece of text, etc., typically humorous in nature, that is copied and spread rapidly by Internet users, often with slight variations.
Tony ok boomer.
Thank you for this amazing video! I really enjoyed it!
I learned about this 1 yr ago. I even went to and offshore drilling museum, an old offshore drilling rig.
Last time I was this early, Virgin Australia was a thing.
lol
Never thought i'd see a wendover productions vid about my hometown
He almost mentioned mine (Norwich) which also sees a lot of oil-related work... close enough haha
He even pronounced it properly, rare for an American (you know, the AH-ber-deen vs aber-DEEN thing all the foreign students do)
@@trolletarian I agree but you know Sam has been going to the University of Edinburgh for a few years right?
He doesn’t know much though... he stated that Scotland and England are countries, which they aren’t.
@@user-re9gj2zd5e
1. They are. They are two of the constituent "countries" that make up the nation state, called "The United Kingdom of Great Britain and Northern Ireland"
2. He lives in Edinburgh and studies at Edinburgh University, so I'd say he knows a wee bit about Scotland/England
This is a beyond fantastic video. Thank you!
Superb timing these past few episodes.
Last time I was this early you still had to pay money to get oil
“Oil prices hovering around $20 per barrel”
Jokes on you they fell to less than $0 per barrel yesterday (for west texas intermediate)
That was futures. To buy a barrel of oil today would run you about $20 still.
Yeah that piece didn't age well.
Edit: It is worth noting that this collapse is due to a decreased demand, which in and of itself can be seen as a good thing since it means we are not producing as many greenhouse gases or other forms of waste.
The oil industry doing poorly might just be a sign of the world getting a chance to recover.
Grog it might be the world Will change a LOT In the next years comming up... after this dissease
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
Flew over Galveston last week, and I flew over where they keep the oil rigs, and it was cool to see all the helipads. Thought it was cool that I was able to see that and now look at this, a video on it!
Glad its coming back up...things were rough out here for a couple months
Is no-one going to mention that oil is selling for -$40 now?
That is oil that will be delivered now, when noone can store it, oil a few months from now is still positive.
Time to go buy oil
@abradolf lincler *wait*
@@zillanimu you need to buy it in lots of 1000 barrells, have fun storing it.
that's like 70% of what the comments here are right now (the rest is jokes about how this vid isn't about planes)
Wendover really dropping these videos while unprecedented crisis relating to the topic are occurring.
2020: They don't.
End of video
I know not a single person cares but my grandfather worked in the North Sea extracting oil and it’s really cool to hear the oil rigs being talked about. (I’d love to show him this video but social distancing and all that)
"Prices are hovering around 20s of dollars"
Out of date as soon as this was published
This is the world we live in
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
This wendover guy sounds a lot like the guy in Half As Interesting. They should do a colab
HolaSoyAlejandro They should make a collab channel maybe Half as wendover. Would be neat.
You do know they are the same people
@@shawnshibu4174 You do know that you completely missed the joke
@@shawnshibu4174 woooosh
@@shawnshibu4174 get wooshed dum dum
I love your videos bc after watching them i feel like genius about a topic i knew nothing about before
excellent as always
Oil Prices Crash
Wendover Productions: Perfect time for a video about oil
Now that Wendover Productions has made a video on offshore oil rigs, we can be sure to expect a global oil crisis soon. This guy predicts global disasters like a psychic.
maybe he is causing them?
I mean WTI oil prices dropped to -$40 (that's negative) a barrel. You can show up to an oil producer in Oklahoma today and get paid to take a barrel of oil off their hands. I'd call that an oil crisis.
@@dand5829 Good luck transporting it when you die because of it.
@@dand5829 It's actually May oil futures that went negative
Nah he was probably checking reddit its trending rn
I learn more from this video,it is unbelievable educating
Thank you for another great video
NOTIFICATION SQUAD, ASSEMBLE!
You are second
Indeed
notified
I'm surprised that there was no mention of the Hibernia platform as an example of a crazy drilling platform. In the North Atlantic rigs often have to shut production and move the platform in order to let large icebergs pass (oil rig + iceberg = wrecked oil rig). Hibernia was designed to just let the bergs hit them and then grind the berg to bits. That's crazy.
Or the Pré-sal oil region of Brazil, places were we have to drill holes from 7km under the sea level.
For a great history of the oil industry in general, I'd recommend "The Prize" by Dan Yergin. Dated, but very interesting and informative! Also, a history of fracking and horizontal drilling would make a good episode for the future. Actually, I think there are tons of subjects in the oil industry that'd make great videos.
I said it years ago I’ll say it again stop don’t touch under the sea it’s a destruction to nature’s under the sea ground pipe gas black gold all over the world 🌎 oceans is a fall to nature’s world 🌎 07 think joe
*HOLY MOTHERR OF JESUS* A non airplane video from Wendover...
_This ought be interesting_
This video was very helpful, thank you. I'm writing a book and one of the settings is an offshore oil rig. I got a whole bundle of information from this, so once again, thanks for uploading.
Great video! Would love to see a 2022 follow up video to this one!
Well Done Sir! Thank you!
It’s March 2022 and oil is over $100 a barrel
"The sea was angry that day my friends, like an old man trying to send back soup in a deli."
Or an otter trying to swim in oil.
Is that from a movie?
When you save this video for the end of the day because you know this is quality content and its good to end on a good channel
Btw being a bit pedantic here but typical 'Rigs' usually refers to the units and machinery used to drill or work on the actual well and 'Platform' is usually referring to the production equipment that is a permanent emplacement (even if floating). 'Platforms' can have 'Rigs' on them combining the two but for the most part they are separate vessels.
Source: Worked offshore for 5 years across a whole myriad of different rigs, platforms, and drill ships
Kim Jong un is sick: Real Life Lore talks about North Korea
Oil prices plummeted: Wendover talk about oil
Are you guys causing this?
"Deep State"
oil drilling at sea not worth it
Norway: Hold my beer
Yes
Yes
Yes
Yes
Yes
Wow incredible timing
The only time i switch off a windover production video before it ends is because i see a different windover video i want to watch more.
I feel like there is a lot more to be said about this topic with recent events in the oil industry
Me: procrastinates
Wendover: posts videos
Coronavirus: “you will not be productive during quarantine”
Me: accepts that RUclips exists and proceeds to binge that and Netflix for the rest of the day, avoiding work.
Next day: cycle repeats
A 12 minute video takes up all your day? Damn.
Charalampos Koundourakis I don’t remember saying that, if you actually read my comment.
I used to work on offshore drilling platforms, it was a super experience. Now working on fusion reaction....unfortunately less sea breeze.
The timing man 👌
Stock footage of Aberdeen covered in fog. Accurate.
it's better if you can't see it to good
@@odinvik7821 😂😂 So true!
Okey the video is interesting but i think the title should be how the economics of oil rigs work as it is vastly the subject of the video
I love Wendover Productions!♥️👍
Oil price: drops
US: *sweats nervously*
You are either Cuban or American make up your mind.
Ronald Tartaglia guys should we tell him?
These oil rig workers must have reached the max of social distancing being so many miles away from shore
They've recalled all crew except bare minimum.
Gotta love the timing
Perfectly explained!
RUclips: hey, wanna know how oil rigs work?
4.2 million people: hMmMm *interesting*
US military: Did somebody say *oil*?
Deep water horizon is one of my favorite movies of all times starring mark Wahlberg, I usually find industrial work places really depressing but for some reason I'm really fascinated by offshore oil rigs and find them really amazing and i wish i could try working in one of them, it strikes me as a whole different experience and vibe
Deep water and horizon are perfume from Davidoff
The timing cannot be better
Having worked on North Sea rigs a a geologist, the pay has been low since 2011 especially with a lot of EU low paid workers driving down wages. I left the oil industry as the pay was significantly low in Europe compared to North America and the Middle East.
Lets see how he put Aeroplanes in it....
No aeroplanes, but lots of helicopters
Septimus ii Airplane adjacent. 😅
@@Septimus_ii **AIRPLANES*
Amazing and informative
That absolute implosion at the last second on the price graph.