Offshore Australasia Oil and Gas Market Report To 2015

Infield Systems has released the fourth edition of the Regional Perspectives Offshore Australasia Oil and Gas Market Report to 2015. The new report provides a comprehensive forecast and analysis of this frontier region and focuses particularly on Australia. The report includes a detailed forecast of capital expenditure (Capex) and platform and subsea tree installations across the region's offshore markets, as well as including a comprehensive analysis of macro market conditions, potential threats and opportunities.

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In this latest edition of Offshore Australasia Oil and Gas Market Report to 2015, the major projects and trends driving offshore development in the Australasian region are comprehensively analysed. Offshore Capex in Australasia is set to increase dramatically over the next five years, driven by upcoming developments in Australia and to some extent Papua New Guinea, which is expected to emerge as a player in the offshore energy market (albeit a comparatively small one).

The Capex itself is driven by growth in all sectors of the market, however the Australian pipelines sector is expected to be the key driver over the next five years. The increase in forecasted pipelines Capex is due to several major offshore projects in Australia which should attract significant levels of expenditure in the near future. These projects are mainly located on the North West coast of Australia in the Greater Gorgon and Browse Basin Areas. They will include Gorgon/Jansz, Wheatstone, Brecknock and Ichthys. In Papua New Guinea, forecasted Capex is expected to also be focused on pipelines, driven by the export of gas from the Kutubu area to the Port Moresby area.

It is likely that throughout the forecast period and beyond, that Australia's emergence as a bigger player in the global LNG market will continue, driven in no small part by the development of its offshore gas resources. Asian economic growth will be a key driver to the Australian LNG development as the region will provide a large export market for Australia's LNG. The ADB (Asia Development Bank) has forecasted strong growth prospects for the Asia region, and in a recent report highlighted that economic growth in the region has become more domestically driven. Supported by Chinese domestic demand, the region escaped the worst of the recession and still maintained strong rates of economic growth. In addition to these opportunities, some risks remain to Australia's development however. In Australia, the rising value of the Australian Dollar has contributed to project cost inflation, with operators revising upwards the cost of some high profile developments. Additionally, cost inflation could be exacerbated by the proposed resources tax which could affect offshore gas and LNG developments.

An indirect (but substantial) threat which could have serious implications for the region's offshore development is the increasing likelihood of a double dip recession in the US and Euro area. At the time of writing, financial markets have been spooked by Spain and Italy's ability to repay their respective public debts. Unlike Greece and Ireland who are comparative economic minnows, a default from either of these much larger economies would be devastating for the Euro area and US economy. In early August, US Congress agreed on raising the public debt limit (to avoid a credit rating downgrade) and an austerity program reassuring increasingly nervous financial markets. However, US economic growth is fragile with the economy achieving growth of just 0.8% (annualised rate) during the first six months of 2011. The austerity measures, coupled with the expiry of tax credits and some jobless benefits in December 2011 threaten to derail this weak recovery. The knock on effects of another US recession could impact on global fuel prices and Asian economic growth, both of which are fundamental drivers to Australia's offshore developments.

In addition to this thorough analysis and forecast of Australasia's offshore market this report also includes a global macroeconomic overview for the global gas and LNG markets. In sum, this latest edition of Infield Systems' Offshore Australasia Oil and Gas Market Report is essential reading for those in the industry seeking to understand the latest changes and trends affecting a region which is fast emerging as a global player in the global gas industry.

Report Contents

• Executive Summary provides an overview of the Australasian offshore oil and gas market highlighting the main points of the report and identifying the most crucial trends affecting the offshore oil and gas market.
• Macro Overview reviews the demand drivers behind the global natural gas market, including Infield Systems' current long term outlook for global primary gas demand. It also includes topical information on LNG including costs, prospects and forecasted liquefaction capacity.
• Regional Market Overview assesses the prospects of the offshore natural gas sector in Australia, which is on the verge of experiencing a considerable boom. Offshore production growth and the global gas market fundamentals supporting this growth are analysed. The section also includes a detailed outline of the major offshore gas and LNG projects in Australia and the issues that could impact their development. These include Gorgon, Wheatstone, Pluto, the Browse Basin, Ichthys and Greater Sunrise. Furthermore, Australia's onshore unconventional gas/LNG projects are reviewed, as well as Papua New Guinea's potential.
• Sector Analysis & Forecasts contains detailed analysis and forecasting of each of the main sectors in the offshore oil and gas industry: fixed platforms, floating production units, and pipeline and control lines. Analysis is provided by country, and each sector is analysed by the following sub-sections: facility (platform) type, water depth, weight, and build; and in addition by diameter and material for pipelines. For the subsea market detailed analysis and forecasts are provided by country, market (development drilling, EPC and installation) and subsea equipment (trees and manifolds), manufacturer and operator. Commentary on key trends and factors within each regional market is also included in this section. Regional maps of forecast platform installations are also included.
• Appendices provide regional maps showing overview of current and future oil and gas fields, existing and future floating production systems and fixed platforms, and a regional infrastructure overview.

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 reader is given a comprehensive presentation of the offshore market in the Australasia region with analysis from macro overviews down to country and operator level in terms of Capex and number of units forecast to be installed.
• Detailed sector analysis appraising the variances in regional, political and country drivers for the Australasia offshore oil and gas market providing insight into the trends expected within the market over the next five years.

Online Database Access

Purchasers of the Regional Perspectives Offshore Australasia Oil and Gas Market Report To 2015 receive 12 months access to a database of fields being planned or considered for development in the current year and four years forward, offshore Australasia, via the InfieldLive Data Portal. InfieldLive is continually updated and purchasers receive the following information about each offshore field:

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

InfieldLive 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
• Support, assistance and advice on getting the most from your InfieldLive access

Asia Pacific Report Bundle

Purchasers of the Asia Pacific Report Bundle comprising Offshore Asia Oil and Gas Market Report To 2015 and Offshore Australasia Oil and Gas Market Report To 2015 receive 12 months access a database of fields being planned or considered for development in the current year and four years forward offshore the following regions:

• South East Asia
• South Asia
• East Asia
• Australasia

InfieldLive Upgrades

The complimentary access to InfieldLive can be upgraded to include operational fields or fields from other regions: Europe, Middle East, Africa, Latin America, North America or other data sets including: fixed platforms, floating production systems, floating storage offloading facilities, pipelines, control lines, single point moorings, supply chain contracts, onshore terminals, liquefied natural gas, gas to liquids, vessels, drilling rigs, offshore wind farms and construction yards. Please contact Infield Systems for additional information.

For more information about the Global and Regional Perspectives series of reports, please either visit Infield.com or contact me.

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