WORKBOAT
as the US GoM, it is pipelines and platforms that form the main remaining spend for deepwater developments. Advances in technology, particularly in mooring systems and innovative hull designs, are allowing production from greater water depths to be viable on both a technical and economic basis. Over the next five years some $28 billion is likely to be spent on deepwater floating production systems, $38 billion on drilling and completing subsea wells and $32 billion on flowlines and control lines, while subsea hardware and surface completed wells could account for a further $10.5 billion. The deepwater 'shopping list' for the forecast period includes over 1,270 subsea trees, 300 templates & manifolds, 68 platforms and nearly 13,000 km of pipelines. Annual expenditure in the deepwater business is expected to reach $24.6 billion by 2012, with the overall spend for the 2008-2012 period totalling $108.2 bn. 2012. Regionally, the focus for development activity will largely remain on the deepwater 'golden triangle' of Africa, Gulf of Mexico and Brazil, with the expectation of Asia emerging as a sizeable new opportunity. Three main elements dominate the deepwater spend over this period, namely: platforms, pipelines and the drilling and completion of development wells.
Conclusions
We forecast that the deepwater sector will continue its growth trend through to
Further information is available at www.dw-1.com. The authors can be contacted via publications@dw-1.com
About the Authors
Adrian has conducted market analysis for a variety of DWL's clients in the oil and gas sector as part of commissioned research, commercial due-diligence and published market studies. He has worked on a variety of projects focusing on the downstream sector and is the lead author of the World LNG & GTL Forecast. Adrian has a background in the engineering and construction industry and graduated with a degree in engineering from the University of Cambridge.
Georgie is Publications Manager for DouglasWestwood and contributes to a number of DWL publications including Deepwater, Floating Production and Marine Propulsion. In addition, she has worked on a number of the firm's studies for oil majors, government departments and investment banks.
November 2007
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