Economic feasibility of using offshore oil and gas structures in the Gulf of Mexico for platform-based aquaculture

Abstract

Abstract The increasing global demand for animal protein is a major ecological concern due to its impacts on land use, climate change, global grain supply and fisheries. One method for harvesting animal protein is to grow marine fish. This is widely practiced in coastal environments, but also leads to environmental problems associated with habitat loss and nutrient loading. One alternative is to move marine aquaculture further offshore, away from coastal land-use conflicts and towards ocean currents, which can efficiently dispose wastes. This concept creates a logistical challenge, however, since operators have to transport large amounts of food, fish and fuel to and from offshore cages on a regular basis and in varied weather conditions. In this paper, we discuss the economic feasibility of using offshore oil and gas platforms as bases for open ocean aquaculture in the Gulf of Mexico. We develop net-present value models of a platform-based operation and describe sensitivity analysis of the model output. We conclude that offshore platform-based mariculture may be commercially viable under favorable assumptions, that its viability requires economies of scale and depends principally on the yield per unit of cage volume achieved. The limitations of the analysis are described.