The Deepwater and Ultra-deepwater Market Report is devoted to the global deepwater oil and gas market and provides a comprehensive forecast and analysis of investment from operators in the deepwater and ultra-deepwater oil and gas growth area for the industry, as well as of trends impacting the global deepwater and ultra-deepwater sector. In doing so, the Deepwater and Ultra-deepwater Market Report includes detailed forecasts of capital expenditure on the oil and gas platform, subsea, pipeline and control line markets, and analyses the policy and market conditions impacting deepwater exploration and development.
The 2011 edition of the Deepwater and Ultra-deepwater Market Report is the seventh edition of the report published by Infield Systems.
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The deep and ultra-deepwater energy sector represents one of the major growth areas of the oil and gas industry today. Buoyant oil prices and the need for major operators to find additional reserves are driving the development of offshore oil and gas reserves, not just in the well known deepwater markets of West Africa, Gulf of Mexico (GoM) and Brazil, but also in Asia Pacific as well.
In this latest edition of Infield Systems’ Deep & Ultra-deepwater Market Report to 2015 the major trends driving development and expenditure in this sector are analysed, as well as the policy and market conditions that impact them.
This includes a comprehensive analysis of the strategies of the major operators in the global deepwater scene – including that of Petrobras and its plans to become a major player in the global oil and gas scene through development of pre-salt reserves in Brazil. The activities of the majors that are heavily involved in deepwater investment are also analysed, including that of Shell, ExxonMobil, BP, Chevron and Total.
While the report details the leading role played by Petrobras, Infield Systems expects that for the forecast period 2011-2015 deepwater capital expenditure (Capex) in Africa will overtake Capex in Latin America. Deepwater Capex in Latin America is expected to remain strong, but Capex in Africa is expected to nearly double in 2011-15 compared to 2006-10. This is expected to be driven by higher forecast Capex from Total, BP and Chevron in West Africa, as well as from Independents (including Tullow and Noble Energy) making a foray into smaller West African markets such Ghana, Equatorial Guinea and Congo (Brazzaville).
Despite the devastating Macondo well oil spill Infield Systems expects deepwater Capex to stay robust throughout the forecast period in the GOM, and to remain, along with Brazil and West Africa, one of the three major areas for deepwater development. While Brazil is dominated by Petrobras and in Angola and Nigeria the majors rule, in the GoM independents are still expected to play a substantial role, as they have done in the past.
As operators push further and further into deeper waters, Infield Systems forecasts a noticeable increase in Capex on platforms in ultra-deepwater environments, measured as water depths of greater than 1,500m. The regions that will drive this ultra-deepwater Capex are the three major deepwater regions; GoM, Brazil and West Africa (in particular Angola, Congo (Brazzaville) and Nigeria). The report also briefly discusses Angola’s awarding of pre-salt licence blocks as this West African offshore producer seeks to emulate Brazil’s success in pre-salt finds across the other side of the Atlantic Ocean.
The markets in the deepwater sector that are expected to attract the bulk of expenditure are the subsea and pipelines markets, which together are expected to take up a 75% share of forecast deepwater Capex of US$209bn over the period 2011-15. A further 20% of Capex is forecast to be directed towards the platforms market.
In addition to the thorough analysis and forecasts for the deepwater and ultra-deepwater markets by region and sector, this report also includes detailed assessments of the political, regulatory and commercial environments that impact offshore activity and expenditure. This includes an analysis of the changed regulatory scene in the GoM for deepwater drilling, the mooted Petroleum Industry bill in Nigeria, Brazil’s pre-salt strategy and the potential for deepwater development in smaller West African markets such as Ghana.
Infield Systems’ latest Deep & Ultra-deepwater report is essential reading for those in the industry seeking to come to grips with the latest changes and trends affecting this rapidly growing element of the global oil and gas market.
For more information please see the Global Perspectives Deep & Ultra-deepwater Market Report to 2015.
Purchasers of the Global Perspectives Deep & Ultra-deepwater Market Report To 2015 receive 12 months access a database of fields in water depths of 500 metres and greater being planned or considered for development in the current year and four years forward, worldwide. Deepwater Online (Essentials) is continually updated with the following information provided about each project:
The Deepwater Online (Essentials) access can be upgraded to Deepwater Online (Standard) or Deepwater Online (Professional) or to include Subsea Online (Standard), Subsea Online (Professional) or other field types or data sets from the Infield Offshore Energy Database, including: floating production systems, fixed platforms, subsea completions, pipelines, control lines, offshore loading, supply chain contracts, vessels, drilling rigs and onshore terminals or LNG and GTL plants and facilities.
Deepwater Online (Standard) identifies all fields in water depths of 300 metres and greater, which are currently producing or being planned or considered for development from the current year onwards, worldwide.
Deepwater Online (Professional) includes all fields within the Deepwater Online (Standard) data set, but also identifies the ownership (companies and percentage holdings) for each deepwater field. The ownership information is presented as a text column within the fields information for easy review and as a separate data set with each percentage holding listed separately for detailed analysis.
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