Global Offshore Prospects - Douglas-Westwood

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Offshore market drivers – CO 2 reduction• CO 2 emissions soared aftersigning of Kyoto protocol• US improved in line with UK,Germany• Increases driven by emergingeconomies, primarily China30282624Kyoto Protocol• US consumes 5x more energyper capita; China has 4x the22population20• What might happen as suchdeveloping economies grow?• Will CO 2 regulations drive fueldemand growth? Or willeconomic development?18161980198219841986198819901992199419961998200020022004CO 2 Emissions from Fossil Fuels – mt billionsSource: EIA20068
Market Drivers – Demand GrowthChina reachesUS in 2018China doublesUS in 2025• China is central in the demand growth story• China's economy to grow 8%-9% in 2009• 2009 car sales to increase 35% from 2008• Meeting Chinese demand will be the centralmission of energy producers in the coming years‘Were China tofollow Korea’s pathof development - asit largely has to date– its oil demandwould more thandouble in the nextdecade. By 2030,Chineseconsumption couldexceed 50 mbpd’source: Douglas-Westwoodanalysis using EIA, IMF, andUS Census Bureau data9
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 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 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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