Deepwater & Ultra-deepwater Market Report To 2015

Infield Systems has released the seventh edition of the Global Perspectives Deep & Ultra-deepwater Market Report to 2015. The new report provides a comprehensive forecast and analysis of investment from operators in this growth area for the industry, as well as of trends impacting the global deepwater and ultra-deepwater sector. In doing so, the report includes detailed forecasts of capital expenditure on the platform, subsea, pipeline and control line markets, and analyses the policy and market conditions impacting deepwater exploration and development.

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The Deep and Ultra-deepwater Oil and Gas Market:

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.

Report Package Overview

The Global Perspectives Deep & Ultra-deepwater Market Report to 2015 is available as a printed hard copy report or as PDF files. In addition to the report the package includes access to a unique projects database – Deepwater Online (Essentials), which provides details of fields in water depths of 500 metres and greater being planned or considered for development over the next five years. Prices for the report start at £2,200, with additional copies and corporate licences available. Upgrades to Deepwater Online (Standard) or Deepwater Online (Professional) can also be purchased.

Report Contents

• Executive Summary provides an overview of the deep and ultra-deepwater sector, highlighting the main points of the report and identifying the most important trends in each region and market.
• Global Market Overview reviews the drivers behind the global offshore oil and gas business, including current oil market supply and demand fundamentals, oil price trends, and the growth of deepwater production and its impact on the global oil market. It also provides a comprehensive analysis of geopolitical turmoil in the Middle East and North Africa and its impact on the supply and price of oil.
• Global Deepwater Business Overview provides a comprehensive analysis of the strategies of the top six operators in the deep and ultra-deepwater sector, including Petrobras, BP, Total, Shell, Chevron and ExxonMobil. It also assesses the market for the supply of subsea trees and for installation vessel availability. The section discusses how Petrobras will remain the main operator in terms of Capex throughout the 2011-15 period, but also that the majors are expected to substantially increase deepwater Capex compared to the previous forecast period.
• Regional Analysis and Forecast contains a detailed analysis and forecast for each of the following regions: Africa, Asia, Australasia, Europe, Latin America, Middle East & Caspian and North America. For each region deep and ultra-deepwater capital expenditure for the forecast period 2006-15 is presented together with an analysis of the main operators participating in each region. Regional expenditures on the different markets of the deepwater sector – platforms, subsea infrastructure and pipeline and control lines – are also detailed and analysed. The section also includes a prospectivity analysis for each region, detailing the major field developments until 2015 that are likely to drive operator investment in deeper waters. The section also discusses the political and market drivers and constraints impacting deep and ultra-deepwater activity over the next five years.
• Sector analysis and Forecast contains a breakdown, region by region, of Capex in each of the markets analysed in the deep and ultra-deepwater sector: including subsea, platforms, pipelines and control lines. A regional breakdown of platform installations, number of subsea wells, and installation of pipelines and control lines by km is also provided in this detailed section.
• Appendices and Maps includes the latest maps of deepwater platforms and pipelines around the world.

Why You Should Buy This Report

• The report contains data developed by Infield Systems' market modelling process, OFFPEX, which is based on a unique "bottom up approach" to forecasting. OFFPEX's component by component and project by project forecasting process is robust and has a proven track record.
• The report enables the reader to appraise region by region, country by country, sector by sector the capital expenditure and installation activity for each of the elements within the deep and ultra-deepwater market, including platforms, subsea developments, pipelines and control lines
• The report provides an independent and comprehensive analysis of the market and policy drivers and constraints impacting the deep and ultra-deepwater market today, and how these will affect future developments over the next five years

Online Database Access: Deepwater Online (Essentials)

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:

• Field Operator
• Project Name
• Development Type
• Date / Year On Stream
• Date / Year Discovered
• Numbers of Subsea Wells
• Numbers of Surface Wells
• High Temperature / High Pressure
• Reserves
• Field Production Rates
• Location
• Development Type
• Water Depths
• Project Status
• Depletion Date /Year

Deepwater Online Upgrades

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.

Deepwater Online Service Overview

• A three user single site licence for the period of 12 months
• Access to the latest published data set
• Unlimited access to the data through InfieldLive
• Ability to download the complete data sets to MS Excel, MS Access etc. or to interrogate the information online and export results
• Support, assistance and advice on getting the most from your subscription

About Infield Systems Limited:

Infield Systems is an independent energy research and analysis firm that is dedicated to the provision of accurate and up-to-date data, market reports, mapping, analysis and forecasts for the offshore oil and gas and associated marine industries. Infield provides market intelligence analysis and business strategy services as well as prepares commercial market due diligence on mergers, acquisitions and transactions in the energy industry. Infield services clients in over 40 countries, including E&P companies, contractors, manufacturers, government agencies and financial institutions. Infield is widely acknowledged as the definitive independent resource for information, research and analysis on the offshore energy sector.

Quentin D'A Whitfield
Director | Infield Systems Limited
Telephone: +44 (0) 20 7423 5001 (direct) | +44 (0) 207 423 5000 (s/board) | +44 (0) 7768 570 850 (cell)
Email: quentin.whitfield@infield.com | Website: http://www.infield.com