Global Offshore Prospects - Douglas-Westwood

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Offshore drilling – Deepwater to show strongest growthSource: “ World Offshore Drilling Spend Forecast 2009-2013”EnergyFiles & Douglas-Westwood• Deepwater fundamentals remain solid• Past surge in expenditure driven by escalating oil prices / rig shortages• Spend to reach $89 bn in 2013 (+57%)• And still more to come: e.g. Brazil pre-salt20
Petrobras Continues to Dominate the Market• Petrobras’ spending plan of $174.4 billion during 2009-2013approved.• Massive pre-salt finds in Santos basin. 9-14 billion boe recoverablereserves announced for Tupi, Lara, Guará alone. Pilot productionsystems moving ahead for Tupi• Tupi EWT began May 2009. Pre-salt production to reach 157,000bpd 2013, 422,000 bpd 2015 and 1.2 million bpd 2020.• Petrobras plan 10 FPSOs for Phase 1A (2013-2017) 2017) pre-saltdevelopments. 8 to be identical units (hulls Brazilian-built)originally.• What to do with the gas?? BG estimate over 40 Tcf recoverablefrom just three fields! Petrobras could become a leader in FLNGand/or FGTL.21
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 18 and 19: Offshore oil & gas production & spe
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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