Offshore Oil Production Rising Globally

Akanimo Udofia pic
Akanimo Udofia
Image: desicongroup.com

Akanimo Udofia maintains responsibilities as CEO and managing director of Desicon Engineering, a leader in Nigeria’s oil and gas industry. In his senior roles, Akanimo Udofia is responsible for business strategy, growth, and sustainability.

One of the ways oil companies acquire oil is through offshore drilling, which accounted for 29 percent of the industry’s crude oil in 2015.

In that year, offshore oil production also rose, reaching the highest level in five years. Though the industry saw an annual decline from 2010 to 2013, production increased in 2014 and went even higher in 2015, the most current year with available data.

According to the US Energy Information Administration, 2015 saw over 50 countries produce over 27 million barrels. Brazil, Mexico, the United States, Norway, and Saudi Arabia produced the most globally, accounting for 43 percent of the yearly total.

Analysts expect figures to rise even higher for 2016, with many oil-producing countries continuing to increase their offshore production.

A Short History of the Catamaran

Catamaran pic
Catamaran
Image: mauritiuscatamaran.com

The CEO and managing director of Desicon Engineering in Lagos, Nigeria, Akanimo Udofia, is responsible for both the general business strategy, growth, and sustainability of the company. Harvard Business School graduate Akanimo Udofia is a water sport aficionado and enjoys catamarans.

Catamaran-style vessels were first developed around 1500 BCE by the Polynesians in south Asia. The original catamarans were two canoes bound together by a wooden frame with or without a sail. This simple device was effective enough to allow these sailors to visit distant Pacific islands.

Rarely utilized in the western world prior to the 19th century, the existence of a more modern catamaran can be traced back to the Tamil people of south India in the 5th century. This version of the catamaran was first discovered and written about in English by the adventurer William Dampier who observed them in 1697 while sailing around the world.

The two-hulled boat was introduced to Europe in 1662 by William Petty, who wanted a craft that could sail faster in shallow water with less wind and fewer crew. The radical design was ill-received, and it would be another 160 years before the West was ready to make use of this simple and effective design.