Global Offshore Prospects - Douglas-Westwood

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Offshore oil & gas production & spend to grow• Capex to dip by 3% from$157bn to $152bn in 2009Opex ($billion ns)Capex &• But total spend to grow from$260 bn (2008) to $360 bn(2013)400350300250200150100500AfricaAsiaAustralasiaEastern Europe & FSULatin AmericaMiddle EastNorth AmericaWestern Europe2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Global Offshore Expenditure by Region 2004-2013Source: Energyfiles / Douglas-Westwood• Most regions to see growth• W Europe to decline• Strong underlying Opex growth as afunction of both increased volume ofactivity it and complexity• Deepwater production growing strongly18
The Growing Importance of Deepwater($billions)Expenditure$35 AfricaAsia$30 AustralasiaLatin America$25 OthersNorth America$20 Western Europe$15$10$5Millions of Ba arrels a Day12108642$02004 2005 2006 2007 2008 2009 2010 2011 2012 2013Deepwater ExpenditureSource: Douglas-Westwood02000 2002 2004 2006 2008 2010 2012 2014Deepwater Production• The world will increasingly gyrely on offshore and deepwater• Deepwater oil production 2% in 2002, 8% in 2009, 12% by 2015• Development of complementary technology – e.g. subsea processing• Gas developments – ‘subsea-to-shore’ developments19
Page 1 and 2: Global Offshore ProspectsSteven Kop
Page 4 and 5: TurmoilMacro FactorsOffshore Oil &
Page 6 and 7: Were oil prices partly responsible
Page 8 and 9: Offshore market drivers - CO 2 redu
Page 10 and 11: Advanced Economies Reduce Oil Consu
Page 12 and 13: Global oil supplies under pressure1
Page 14 and 15: Natural gasscubic metretrillion5432
Page 16 and 17: 2009 - total global E&P spend 10% d
Page 20 and 21: Offshore drilling - Deepwater to sh
Page 22 and 23: Long-term growth in floating produc
Page 24 and 25: Recession and impact on LNG demandL
Page 26 and 27: TurmoilMacro FactorsOffshore Oil &
Page 28: Big challenges, big opportunitiesTh

Global Offshore Prospects - Douglas-Westwood

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