As oil exploration and production moves farther offshore, innovative technology is required to exploit energy resources in ever deeper waters. This paper covers two areas of deepwater production: offshore Brazil and the Gulf of Mexico. The types of wells and their capacity are described as well as the alternative platform designs, both fixed and semisubmersible, being used to recover both oil and gas from depths greater than 1500 ft. The paper outlines why these deepwater regions are of interest now and describes developments that are expected in the near future.