7/30/2019 671-2012 Deepwater Press Release
1/1
News Release Canterbury, UK 12t J anuary, 2012
Latin Americas Deepwater Spend Forecast to Overtake Afr ica
*Strong growth in capital expenditure, with $232 billion to be
spent in next five years**Africa and the Americas represent 72% of
spend 2012-2016*
Speaking today at the SUT Learning Luncheon in Houston Steven
Kopits, Douglas-Westwood Director, commented,For oil companies the
overall outlook for 2012 is positive. The longer-term outlook
indicates that subsea,predominately deepwater; developments will
continue to play a major part in the portfolios of the majors IOCs
(suchas Total, Shell, BP and Exxon) and some NOCs (such as
Petrobras and Statoil).
The 12th edition of the World Deepwater Market Report forecasts
a 90% growth in expenditure, compared with theprevious five-year
period, with $232 billion to be spent 2012-2016. The outlook for
the deepwater business is clearly
one of significant long-term opportunity. As deepwater projects
becoming increasingly capital-intensive there is aneconomic
challenge for E&P companies and a significant potential prize
for international oilfield service andequipment vendors.
Douglas-Westwood pioneered the original deepwater report in 1998
and the award-winning company has trackedand analysed the deepwater
market extensively ever since, developing unparalleled knowledge
and experience inthe sector. This comprehensive report goes beyond
a complete breakdown and forecast for the industry andprovides
unique insight into how changes in the industry, in the short to
medium term, will impact market players.
Report author, Lucy Miller, concludes, Regionally, the focus for
development activity will largely remain in thedeepwater golden
triangle with Africa and the Americas representing 72% of
Douglas-Westwoods forecast spend.Within this group Latin America is
likely to experience substantial growth, exceeding Africas
deepwater expendituretowards the middle of the forecast period,
driven by Petrobras development of its Campos and Santos
(pre-salt)
fields off Brazil.
ENDS
About the report : It offers an overview of the drivers and
indicators for the sector and details the life of a field from
discovery toproduction. Key topics include supply-side constraints,
cost inflation and financing issues. Unique and proprietary data
formsthe basis of historic and forecast deepwater capital
expenditure breakdowns by region and component.
For more information on the World Deepwater Market Forecast
2012-2016, visit:
http://www.douglas-westwood.com/shop/shop-infopage.php?longref=889~0
About Douglas-WestwoodDouglas-Westwood carries out advisory
work, business research, analysis & strategy development for
the international energy
industries.The World Deepwater Market Forecast is the latest in
the acclaimed series of Douglas-Westwood energy businessstudies and
is built on the companys unique knowledge of the sector.
Douglas-Westwood has clients in more than 70 countriesand to date
over 750 projects have been completed. Clients range from the oil
majors and contractors to equipmentmanufacturers, financial
institutions, research organisations and departments of government
in several countries.
Interviews are available on request and additional material,
including charts and tables as well as selected raw data
areavailable from:
Michael Robertson
Douglas-Westwood Limited
United Kingdom
t: +44 (0)1227 780999
f: +44 (0)1227 780880
e: [email protected]
douglas-westwood.com
