Opinion

Deepwater Expenditure Backed by Phased Development & Tiebacks


Westwood's World Deepwater Market Forecast 2017-2021 Q4 data update expects expenditure to total $126.9bn over the forecast period, with activities concentrated in Africa and the Americas. Whilst project sanctioning has improved over the past 12 months, operators remain cautious of uncontrolled project spending, and are increasingly opting for phased development concepts as a means of reducing the risk and financial exposure normally associated with bringing onstream additional production from deepwater.

This update highlights 114 potential projects that are expected to drive drilling and installation activities over the forecast period. This represents an 11% increase to the number of forecast projects driving activity compared to Westwood's Q3 data update.

World Deepwater Market Forecast

Global Deepwater Subsea Tree Installation by Field Status, 2012-2021

Contact us to access the latest Deepwater Market Forecast databook.

Key Conclusions

  • Africa and the Americas will remain key regions, accounting for over 78% of forecast expenditure.
  • Asia will experience an increased level of investment in deepwater projects post-2017.
  • Despite the low dayrates for MODUs, subsea drilling and completion expenditure will grow at an 8% CAGR, accounting for 32% of forecast expenditure.
  • Subsea production equipment, SURF, and pipelines will represent a combined 39% of forecast expenditure.
  • Floating production units will account for 29% of forecast expenditure, driven by units such as Total's Egina and Kaombo, sanctioned prior to the downturn.
Find Out More

This update highlights the impact of significant supply-chain evolution, with integrated contracting systems expected to support project economics. With oil prices remaining relatively stable above $50 per barrel, low drilling and equipment costs present an upside to project sanctioning over the next 18 months.

Analysis is based on Westwood's SECTORS database, which details over 900 deepwater projects that are updated and tracked daily.

For more information or purchase options, please contact Gareth Hector on;

ghector@westwoodenergy.com 
+44 (0)1795 594726


Visit source site

douglas-westwood.com/report/oil-and-gas/world-deep...

DeepwaterAfricaAmericas

More items from oilvoice


Make Your Voice Heard At All-Energy 2018: Call For Papers Published

All forms of on- and offshore renewable energy generation and other topics including energy efficiency; low carbon heat and heat networks; energy storage; community and local energy; renewables for the farming/landowning community; decentralised energy; energy systems; grid-related issues; sustaina ...

OilVoice Press - OilVoice


Posted 0 minutes agoPress > All-Energy 2018renewable

Expro Launches Industry-Leading TCP Gun System For Extreme High Pressure Applications

Leading international oilfield services company, Expro, has launched a new extreme high pressure tubing conveyed perforating (TCP) gun system, delivering the largest perforation hole area available for frac and gravel pack completions. Designed specifically for challenging deep water environments ...

OilVoice Press - OilVoice


Posted 4 minutes agoPress > ExproExpro International GroupGeodynamics +2

Premier Oil: Catcher Update

The BW Catcher Floating Production Storage and Offloading (FPSO) vessel arrived at the Catcher field at 23:00 on Wednesday 18 th October. The hook up of the Submerged Turret Production (STP) buoy mooring system was completed on the 19 th October with the vessel successfully completing a rotation ...

OilVoice Press - OilVoice


Posted 7 minutes agoPress > Premier OilCatcherSTP +2

September Unplanned Global Oil Supply Disruptions Fall to Lowest level Since January 2012

Source: U.S. Energy Information Administration, Short-Term Energy Outlook , October 2017 Note: OPEC disruptions include crude oil only; non-OPEC disruptions include crude oil and other liquid fuels. Unplanned global supply disruptions fell to 1.6 million barrels per day (b/d) in September ...

OilVoice Press - OilVoice


Posted 10 minutes agoOpinion > OPECEIAEnergy Information Administration EIA +6

EPI Group & ONYX Announce Partnership in Malaysia

EPI Group and Onyx IES Sdn. Bhd. (ONYX) are delighted to announce the formal signing of an agency agreement. ONYX now adds EPI Group to its formidable portfolio of services within Malaysia and are confident this agreement will provide strong opportunities for both companies and will provide a long a ...

OilVoice Press - OilVoice


Posted 12 minutes agoPress > EPI GroupONYXPartnership +1
All posts from oilvoice