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| Port Fourchon Executive Director Chett Chiasson |
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As we begin the second quarter of 2014, the forecast for the deepwater Gulf of Mexico is extraordinary, with all the barometers pointing to a healthy period of sustained growth in drilling and production activity. Consider that this time next year, up to 16 newbuild floaters are expected to be added to the Gulf's deepwater fleet, and during 2014, no less than five high-profile deep and ultra-deepwater production systems will begin flowing first oil and gas, with more set to follow over the next two years. In addition, the March Central Gulf of Mexico federal OCS lease sale generated over $1.2 billion in high bids, providing more evidence that operators continue to see tremendous prospects in the outermost fringes of the Gulf of Mexico.
At some point, essentially all of that activity will touch Port Fourchon, which is tremendously exciting for all of us involved with the port. And, like our valued tenants, we are continually striving to ensure that the port is fully prepared to meet the increased demand and support, in any way we can, the industry's commitment to meet our nation's ever-increasing demand for energy.
As for the port, we are in the process of constructing more than 2,600 linear ft of bulkhead as part of the continued development of Slip C, the latest effort in the Northern Expansion project, which the Greater Lafourche Port Commission authorized 14 years ago. We also are awaiting the final design permit for Slip D, which will create an additional 8,200 linear ft of waterfront property in Port Fourchon.
With the optimistic forecasts for long-term growth, our tenants, likewise, are embarking on aggressive expansion projects on their port leases. The expansion underway today extends to the South Lafourche Leonard Miller Jr. Airport, where Chevron is constructing a nearly $30-million aviation center to provide long-term logistical support for its deepwater operations.
It is extremely exciting to be in the position we are now, and one that would have been difficult to imagine just four years ago. A number of things went into play to get us where we are today, but undoubtedly at the very top of that list is our tenants. They are the ones, who continue to make Port Fourchon the premier oil and gas service port for not only the U.S., but perhaps the world. We were told as much last year when port tenant Statoil brought its top executive team from Stavanger to see firsthand what was described to us as being their most efficient base for drilling operations anywhere in the world.
Certainly, it was a flattering description and demonstrates that our ongoing efforts are being widely appreciated. However, as we emphasize constantly, the Port Commission's job is to facilitate the growth of trade and commerce, but it's our tenants who do the work. They are the ones who have, and will continue to make Port Fourchon the foremost service hub for the deepwater oil and gas industry. —Chett Chiasson 
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