Upload
energy-tomorrow
View
214
Download
0
Embed Size (px)
Citation preview
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
1/136
_qdpmqdi ax7
]tdy Effceqd Qdetq`d+ Hj`* _qdpmqdi feq7
=6?? Chlc|mx 6+ Pthyd 0?? Mbdqh`mj _dyqekdtb Hjyhytyd #M_H(
Ptlmq Kmji+ YS
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
2/136
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
3/136
Ymakdef@ejydjy
NdxFhjihjl**************************************************************************************************************************H
Dsd`tyhvd
Ptbbmqx
*************************************************************************************************************
HH
BmhjQdpeqy
=* Hjyqeit`yhej ************************************************************************************************************ =
1* ImymmjiP`djmqheIdvdkepbdjy **************************************************************************** 91*=Evdqvhd|ef]tdyEffceqdImym********************************************************************************* 4
1*1ImymIdvdkepbdjy********************************************************************************************************
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
4/136
Mppdjih`d
=*IdymhkdiPpdjihjlYmakd**************************************************************************************************** M1
1*Dbpkexbdjy_qegd`yhejax@md************************************************************************************* M==
0*EhkmjiJmytqmkLm_qeit`yhej_qegd`yhejax@md ******************************************************** M=0
9*Bmgeq_qegd`yIdkmx********************************************************************************************************* M=6
4*IdvdkepbdjyHjih`myeq**************************************************************************************************** M=3
6*Ce|IqhkkhjlMffd`y_qegd`yIdvdkepbdjy *********************************************************************** M11
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
5/136
KhyefYmakd
=* Jd|\dkkIqhkkhjl_dqbhyMppqevmk7Gmjtmqx1??3PymqyefIqhkkhjlBeqmyeqhtb+IqhkkhjlBeqmyeqhtb+mjiDjiefIqhkkhjlBeqmyeqhtbJevdbadq1?==ax\mydqIdpyc ********* VH*
1* Dyhbmydimji_qegd`ydi_qegd`yIdkmx_qdBeqmyeqhtbv*@tqqdjy_mycmjiAdy_eyBeqmyeqhtb@md+ax\mydqIdpycmjiEpdqmyeqYxpd#1?=?1?=4( ************************** VHH*
0* Dyhbmydimji_qegd`ydiYeymk@mphymkmjiEpdqmyhjlDspdjihytqdEffceqdLtkfefBdsh`e_qdBeqmyeqhtb+@tqqdjy_myc+mjiAdy_eyBeqmyeqhtb@md1?=?1?=4
#)Ahkkhej(************************************************************************************************************************** HS*
9* Dyhbmydimji_qegd`ydiDbpkexbdjy@ebpmqhej7Ady_eyBeqmyeqhtbmji@tqqdjy_myc@md1??31?=4********************************************************************************************************* S*
4* MvdqmldJd|\dkkIqhkkhjl_dqbhyMppqevmk7Gmjtmqx1??3PymqyefIqhkkhjlBeqmyeqhtb+Iqhkkhjl
Beqmyeqhtb+
mji
Dji
efIqhkkhjl
Beqmyeqhtb
Jevdbadq
1?==
ax
\mydq
Idpyc******************************************************************************************************************************** =3
6* T*P*@tqqdjy_myc@mdmjiAdy_eyBeqmyeqhtb@mdmjiQdyef\eqkiJtbadqef\dkkDspd`ydiyeadIqhkkdi1?=?1?=4_qegd`ydi#Mkk\mydqIdpyc(**************************** 14
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
6/136
=4*Dyhbmydimji_qegd`ydiAdy_eyBeqmyeqhtb@mdDbpkexbdjy+LtkfPymydv*JejLtkfPymyd+Ihqd`yv*Hjihqd`ymjiHjit`di1?=?1?=4*************************************************** 99
=6*Dyhbmydimji_qegd`ydiDbpkexbdjy@ebpmqhej7Ady_eyBeqmyeqhtbmji@tqqdjy_myc@md1?=?1?=4********************************************************************************************************* 94
=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
7/136
KhyefFhltqd
=* DyhbmydiChyeqh`mkmji_qegd`ydi\eqkiEffceqd@mphymkDspdjihytqd1??31?=4#)Ahkkhej(#Mkk\mydqIdpyc( ******************************************************************************************* HV
1* Iddp|mydqIqhkkhjlQhlBevdbdjymjiMe`hmydiIhpkm`diHjvdybdjy#)Ahkkhej(**VHH0* Dyhbmydimji_qegd`ydiMvdqmldMjjtmkEffceqdEhk_qeit`yhej+_qdBeqmyeqhtb@md
v*Ady_eyBeqmyeqhtb@mdv*@tqqdjy_myc@md#BhkkhejAmqqdkefEhkpdqimx(****SH
9* Dyhbmydimji_qegd`ydiMvdqmldMjjtmkEffceqdJmytqmkLm_qeit`yhej+_qdBeqmyeqhtb@mdv*Ady_eyBeqmyeqhtb@mdv*@tqqdjy_myc@md#Ahkkhej@tah`
Fddypdqimx(******************************************************************************************************************** SHH
4* Ldjdqmkhwdi]tdyEffceqdImymLmycdqhjlBdyceiekelx*********************************************** 46* ]tdyPpdjihjl@mydleqhd ************************************************************************************************
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
8/136
=8*YeymkDyhbmydimji_qegd`ydi@mphymkHjvdybdjymjiEpdqmyhejmkDspdjihytqdaxP`djmqhe1??31?=4#)Ahkkhej(***************************************************************************************** 0
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
9/136
NdxFhjihjl
Iddp|mydqpdqbhy hj ycdLtkf ef Bdsh`emqd`tqqdjykxadhjl htdimy kd ycmjcmkf ycd qmyd
`ebpmqdi|hycpqdbeqmyeqhtb kdvdk+mjicmkke||mydqpdqbhymqdadhjl htdimyqmyd9?
pdq`djy ke|dq* Hj1?==+ ycdT*P* hpqegd`ydi yem``etjy feqejkx6pdq`djy+eq)3*8ahkkhej+ef
lkeamkeffceqd
ehk
mji
lm
hjvdybdjy
vmktdi
my
)=96
ahkkhej*
@ejhidqhjl
ycd
ih`evdqdi
mji
tjih`evdqdiqdetq`dhjpkm`dhjycdLtkfefBdsh`e+ychfhltqdef6pdq`djyhfmqke|dqycmj
|etkiaddspd`ydi*_qheqyeycdbeqmyeqhtb+ycdT*P*|mpqegd`ydiyem``etjyfeq=1pdq`djyef
|eqki|hideffceqdehkmjijmytqmklmhjvdybdjyhj1?==+|ch`chbt`cbeqdhjkhjd|hycycd
effceqdqdetq`damdhjycdLtkfefBdsh`e*
KepyHjvdpybdjymjiGeaphj1?=?mji1?==
Ycd dffd`y ef ycd iddp|mydq iqhkkhjl beqmyeqhtb mji tad}tdjy pdqbhy ke|ie|j cmvd
mkqdmixqdit`diyeymk`mphymkmjiepdqmyhjldspdjihytqd hjycdLtkfefBdsh`eaxm`ebahjdi
)=3*0ahkkhejfeq1?=?mji1?==qdkmyhvdyepqdbeqmyeqhtbpkmj*
Phj`dMpqhk1?=?+dkdvdjiddp|mydqiqhkkhjl qhlcmvd kdfy ycdLtkf ef Bdsh`e*Ycdd qhlcmvd
lejd ye `etjyqhd t`c m Aqmwhk+ Dlxpy mji Mjlekm* Ycqetlc 1?=4+ ycd hjvdybdjy hj eycdq
qdlhej hjydmi ef ycd T*P* me`hmydi |hyc ycdd qhl h dyhbmydi ye ad evdq )1=*9 ahkkhej
hj`ktihjliqhkkhjl pdjihjl mji me`hmydipqegd`yd}thpbdjyeqidq+dvdj m``etjyhjl feq ycd
peqyhej ef d}thpbdjy ycmy |hkk khndkx ad bmjtfm`ytqdi hj ycd Tjhydi Pymyd* M m qdtky ef
id`qdmd hj hjvdybdjyitd ye ycdbeqmyeqhtb+ yeymkT*P*dbpkexbdjy hdyhbmydi yecmvd
addjqdit`diax
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
10/136
Dsd`tyhvdPtbbmqx
HH
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
11/136
=Evdq88pdq`djyefT*P*effceqdehkmjijmytqmk lmpqeit`yhejhfqebycdLtkfefBdsh`e* Effceqd
pqeit`yhejeffefycd_m`hfh @emyef@mkhfeqjhmm``etjyfeq?*14pdq`djy* \hychjycdjdsydvdqmk xdmq
ycdqdhpeydjyhmk feqehkmjijmytqmk lmpqeit`yhejeffefycdjeqycdqj`emyefMkmnm*1Dbpkexbdjy`mk`tkmydithjl3*33geapdq)bhkkhejefpdjihjlm`mk`tkmydihj]tdyEffceqd
Qdetq`d+ Hj`*YcdTjhydiPymydLtkfefBdsh`eEhkmjiJmytqmk LmHjityqxD`ejebh`Hbpm`yMjmkxh7
YcdD`ejebh Hbpm`yefLeBEhkmjiJmytqmkLmIdvdkepbdjyejycdT*P*D`ejebx* Gtjd1?==*
Ycdeffceqdehkmjijmytqmklm hjityqx hj
ycdLtkfefBdsh`ehm`qt`hmk`ebpejdjyef
ycd jmyhej djdqlx tppkx=* Hj 1?=?+ evdq
13pdq`djyef ycdehkmji=4pdq`djyef ycd
jmytqmk lm pqeit`di hj ycdTjhydi Pymyd
|m pqeit`di hj ycd Ltkf ef Bdsh`e*
Effceqdehkmjijmytqmklmidvdkepbdjyh
mke vdqx `mphymk hjydjhvd* Hj 1?=?+ yeymk
`mphymk dspdjihytqd|dqd dyhbmydi my )3
ahkkhej+ |hyc )4 ahkkhej hj iddp |mydq hj
ds`def4??fddymkejd*Yeymk1?=?Ltkfef
Bdsh`e
dspdjihytqd+
hj`ktihjl
epdqmyhjl
dspdjd+ ds`ddidi )14 ahkkhej* Ych
hjvdybdjy pqevhid bt`c jddidi
dbpkexbdjy ycqetlcety ycd `etjyqx+|hyc
1?=? yeymk dbpkexbdjy tppeqydi ax ycd
effceqd ehk mji jmytqmk lm hjityqx
dyhbmydimy10?+???1*
_qheqye
ycd
iddp|mydq
iqhkkhjl
beqmyeqhtb+
ycd T*P* ehk mji jmytqmk lm effceqd
hjityqx |m feqd`mydi ye lqe|
hljhfh`mjykx itd ye hidjyhfhdi pqepd`y+
beykx hj ycd iddp |mydq* \hyc ycd
dymakhcbdjy ef ycd beqmyeqhtb mji ycd
tad}tdjy ke|ie|j hj ycd htmj`d ef
iqhkkhjl pdqbhy my mkk |mydq idpyc+ mj
dyhbmydi )=3*0 ahkkhej ef pqdvhetkx
pkmjjdi `mphymk mji epdqmyhejmk
dspdjihytqd ihi jey e``tq hj 1?=? mji
1?== #Fhltqd =(* Hj miihyhej+ ycd T*P*
effceqd ehk mji jmytqmk lm hjityqx
`ebpdyd
lkeamkkx
|hyc
eycdq
qdlhej
feq
epdqmyeq hjvdybdjy+ iqhkkhjl qhl+ mji
`ejyqt`yhej vddk ycmy mqd ddjyhmk ye
ycd idvdkepbdjy ef ehk mji jmytqmk lm
qdetq`d*T*P*hjvdybdjy`mphymkbevdiye
eycdq lqe|hjl tppkx qdlhej hj ycd|eqki
t`cmAqmwhk+Mhm+mjipmqyefMfqh`mycmy
mqd `tqqdjykx dspdqhdj`hjl qmphi lqe|yc hj
ycdhqeffceqd
ehk
mji
lm
hjityqx
#Fhltqd
=(*
HHH
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
12/136
Fhltqd=7DyhbmydiChyeqh`mkmji_qegd`ydi\eqkiEffceqd@mphymkDspdjihytqd1??3
1?=4#)Ahkkhej(#Mkk\mydqIdpyc(
Petq`d7]tdpyEffpceqdQdpetq`dp1?==
Dvdjbmytqdqdlhejt`cmycdJeqycPdm
mqd dspdqhdj`hjl m qdtqldj`d ef lqe|yc*
Phj`dehkhmlkeamkkxyqmidi`ebbeihyxmji
ycd pqhbmqx ymqldy ef lkeamk iddp|mydq
idvdkepbdjy h ehk+ ycd ke`myhej ef
pqeit`yhej h `ejhidqdi kd hbpeqymjy
ycmj fhdki d`ejebh`+ pekhyh`mk ymahkhyx eq
ycd qdltkmyeqx djvhqejbdjy* Hf `tqqdjy
yqdji`ejyhjtd+hjvdybdjyhjycdeffceqd
ehk mji lm hjityqx hj ycd Tjhydi Pymyd h
dspd`ydiyeddlqe|yc+atymy ke|dq qmyd
ycmjddjhjPetycMbdqh`m+Mhm+mjipmqy
efMfqh`m*
1?=? 1?=4
_qegd`ydi
@tbtkmyhvd
1?=?1?=4
Mhm+_m`hfh` )06*1 )6=*6 )18
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
13/136
Ych ytix }tmjyhfhd ycd hjvdybdjy mji
pqeit`yhej hbpm`y ef ycd `ejyhjtdi
ke|ie|j hjeffceqdpdqbhyyhjlm|dkkm
ycdtphidpeydjyhmktjidqmbeqdamkmj`di
qdltkmyeqx djvhqejbdjy ycmy qdyeqd
pdqbhyyhjl qmyd am`n ye ycdhq pqd
beqmyeqhtb kdvdk* Ycd @tqqdjy _myc @md
pqegd`y effceqd hjvdybdjy mji
pqeit`yhej kdvdk thjl pdqbhyyhjl qmyd
qdfkd`yhvdefycedhjdshydj`dfqebycddji
ef
ycd
iddp|mydq
iqhkkhjl
beqmyeqhtb
ye
ycd
pqddjy* Ycd Ady _eyBeqmyeqhtb @md
mtbd m qdytqj ye pqdbeqmyeqhtb
pdqbhyyhjl qmyd lehjl feq|mqi* Ycd _qd
Beqmyeqhtb @md id`qhad peydjyhmk
effceqd hjvdybdjy mji pqeit`yhej kdvdk
cmiycdbeqmyeqhtbjdvdqaddjdymakhcdi
mji h tdi ye pqevhid miihyhejmk
pdqpd`yhvdej
ycd
maevd
y|e
pekh`x
`md
dsmbhjdi*
Mtjh}tdfdmytqdmjiyqdjlycefychytix
h ycd pqhbmqx jmytqd ef ycd `mphymk
hjvdybdjyimym*]tdyEffceqdQdetq`d+
Hj`* #]tdy(+ iqm|hjl ej hy pqepqhdymqx
imymamdef tppkhdqef `mphymkd}thpbdjy
mjihjydqbdihmyd
leei
ye
Ltkf ef Bdsh`e
ehk mji jmytqmk lm epdqmyhej+ h makd ye
aqhjlpqhbmqx+pqegd`ykdvdkimymyeadmqej
ycdhtdefhbpeqymj`dyeychytix*
Ymakd
=
ce|
chyeqh`mk
pdqbhy
qmyd
fqeb
1??3 ye ycd dji ef Jevdbadq+ 1?==
pqevhihjl ycd bey qd`djykx mvmhkmakd
btkyhxdmq imym* Idphyd ycd dji ef ycd
iqhkkhjl beqmyeqhtb hj E`yeadq ef 1?=?+
iqhkkhjl pdqbhy qmyd qdbmhj my chyeqh`mkkx
ke| kdvdk+ |hyc iddp|mydq pdqbhy
`tqqdjykxadhjl htdimy kd ycmjcmkf ycd
qmyd`ebpmqdi
|hyc
pqd
beqmyeqhtb
kdvdk*
Ycd imym qdvdmk ycmy mj mvdqmld ef ?*=8?
pdqbhycmvdaddj htdipdqimxhj`dycd
dji ef ycd beqmyeqhtb ye dji ef
Jevdbadq+ 1?== `ebpmqdi ye ?*086 ej
mvdqmldpdqimxfqebycdadlhjjhjlef1??3
ye ycd ymqy ef ycd beqmyeqhtb* Pcmkke|
|mydqpdqbhymqdadhjl htdimy qmyd9?
pdq`djy ke|dq+|hycpdqbhyadhjlhtdimy
mjmvdqmldqmydef?*93
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
14/136
Ymakd =7 Jd| \dkk Iqhkkhjl _dqbhy Mppqevmk7 Gmjtmqx 1??3 Pymqy ef Iqhkkhjl Beqmyeqhtb+
IqhkkhjlBeqmyeqhtb+mjiDjiefIqhkkhjlBeqmyeqhtbJevdbadq1?==ax\mydqIdpyc
Petq`d7AtqdmtefPmfdyxmjiDjvhqejbdjymkDjfeq`dbdjy*
\hyc9? ye4?pdq`djy kdiqhkkhjlpdqbhy
adhjlhtdi+
ycd
idbmji
feq
iqhkkhjl
qhl
hj
ycd T*P* cm id`khjdi* Ejd ef ycd fmydy
|mxfeqepdqmyeqyechfyycdhqeffceqdehk
mji jmytqmk lm hjvdybdjy ye eycdq
qdlhej hj ycd|eqki h ye qdke`mydbeahkd
iqhkkhjlqhl*Phj`dMpqhk1?=?+dkdvdjiqhkkhjl
qhlcmvd kdfyycdLtkfefBdsh`e*Ycddqhl
cmvdlejdye`etjyqhdt`cmAqmwhk+Dlxpy+
mjiMjlekm+|hycebd qhl kmydq qdke`myhjl
ye ycdJeqyc Pdm* Fqeb 1?=? ye 1?=4+ ycd
hjvdybdjyhj
eycdq
qdlhej
hjydmi
ef ycd
T*P*me`hmydi|hycycddqhl hdyhbmydi
ye ad evdq )1=*9 ahkkhej hj`ktihjl iqhkkhjl
pdjihjlmjime`hmydipqegd`yd}thpbdjy
eqidq dvdj m``etjyhjl feq ycd peqyhej ef
d}thpbdjy feq idvdkepbdjy hj eycdq
qdlhej ycmy|etkiad pdjy hj ycdTjhydi
Pymyd#Fhltqd1(*
Jd|\dkkIqhkkhjl_dqbhyMppqevmkIddp|mydq
#:4??FP\(
Pcmkke|
\mydq
#;2
4??
FP\(
Iddp|mydq
Mvdqmldpdq
Imx
Pcmkke|
\mydq
Mvdqmldpdq
Imx
Gmjtmqx1??3Gtjd3+1?=? 041
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
15/136
Petyc
Mbdqh`m
JeqycPdm
\dy
Mfqh`m
Mhm_m`hfh`
Ycqdd
Qhl
)4*4Aj
TjhydiPymyd
efMbdqh`m
EjdQhl
)=*1AjFetq
Qhl
)6*=Aj
Ycqdd
Ftytqd
_qegd`y
)9*1Aj
0Qhl
)9*9AjDlxpy
Fhltqd17Iddp|mydqIqhkkhjlQhlBevdbdjymjiMe`hmydiIhpkm`diHjvdybdjy#)Ahkkhej(
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Ycd iqhkkhjl beqmyeqhtb mji ke|ie|j hj
ycd htmj`d ef pdqbhy cm `mtdi
hljhfh`mjy idkmx hj pqegd`y idvdkepbdjy+
mffd`yhjlaeyc
hjidpdjidjy
epdqmyeq
mji
bmgeq ehk `ebpmjhd* Hf `tqqdjy yqdji
`ejyhjtd#@tqqdjy_myc@md(+hyhdyhbmydi
ycmy 34 cmkke| |mydq pqegd`y |hkk ad
idkmxdi evdq ycd 1?=?1?=4 pdqhei |hyc
bmgeq ehk `ebpmjx pqegd`y adhjl idkmxdi
ej mvdqmld ?*8 xdmq mji hjidpdjidjy ehk
`ebpmjxpqegd`yidkmxdiejmvdqmld=*9
xdmq*Ej ycd `tqqdjy pmyc+ 93 iddp|mydq
pqegd`ymqd
pqegd`ydi
ye
ad
idkmxdi
|hyc
pqegd`y ax bmgeq epdqmyeq idkmxdi ej
mvdqmld =*68 xdmq mji pqegd`y ax
hjidpdjidjyepdqmyeqidkmxdiejmvdqmld
=*84UxdmqU#YmakdU1(*
VHH
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
16/136
Ymakd17Dyhbmydimji_qegd`ydi_qegd`yIdkmx_qdBeqmyeqhtbv*@tqqdjy_mycmjiAdy
_eyBeqmyeqhtb@md+ax\mydqIdpycmjiEpdqmyeqYxpd#1?=?1?=4(
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Hf iqhkkhjlpdqbhylehjlfeq|mqi|dqdyead
htdi my pqdbeqmyeqhtb chyeqh`mk qmyd
adlhjjhjl hj 1?=1 #Ady _ey Beqmyeqhtb
@md(+ycdjtbadqefpqegd`yidkmxdi`etki
ad hljhfh`mjykx qdit`di #34 ye 0
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
17/136
0Pdd]tdyEffceqdQdetq`d+ Hj`*YcdTjhydiPymydLtkfefBdsh`eEhkmjiJmytqmk LmHjityqx
D`ejebh`Hbpm`yMjmkxh7 YcdD`ejebh Hbpm`yefLeBEhkmjiJmytqmkLmIdvdkepbdjyejycdT*P*
D`ejebx* Gtjd1?==+Ychfhltqd|m`mk`tkmydithjlmjmtbpyhejef3*33geapdqbhkkhejiekkmqef
hjvdybdjy mid`qhadihjychqdpeqy*9Pdd\eeiBm`ndjwhd+T*P*PtppkxFeqd`mymji_eydjyhmkGeamjiD`ejebh Hbpm`y+Pdpydbadq 1?==+
feqmidymhkdi`cmqm`ydqhwmyhej efycdd`ejebh`hbpm`yefhj`qdmdim``d*
Ymakd07Dyhbmydimji_qegd`ydiYeymk@mphymkmjiEpdqmyhjlDspdjihytqdEffceqdLtkfef
Bdsh`e_qdBeqmyeqhtb+@tqqdjy_myc+mjiAdy_eyBeqmyeqhtb@md1?=?1?=4#)Ahkkhej(
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Mm qdtkyef id`qdmd hj hjvdybdjyitd
ye ycdbeqmyeqhtb+ yeymkT*P* dbpkexbdjy
h dyhbmydi ye cmvd addj qdit`di ax
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
18/136
Ymakd97Dyhbmydimji_qegd`ydiDbpkexbdjy@ebpmqhej7Ady_eyBeqmyeqhtbmji
@tqqdjy_myc@md1??31?=4
Dbpkexbdjyhj`ktidIhqd`y+Hjihqd`y+mjiHjit`digea*
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Ycd dffd`y ef ycdiqhkkhjlbeqmyeqhtb mji
ycd tad}tdjy ke| htmj`d ef iqhkkhjl
pdqbhycmvd
cmi
m`chkkhjl
dffd`y
ej
effceqdehkmjijmytqmklmpqeit`yhej*Ycd
cmkyhjiddp|mydqiqhkkhjlitdyeycdiqhkkhjl
beqmyeqhtb hdspd`ydiyemffd`yaeycjdmq
mjikejlydqbeffceqdehkpqeit`yhej+aeyc
ycqetlcidkmxhjl ycdiqhkkhjlef pqeit`yhej
|dkkm|dkkmdyyhjlam`n kmqldqpqegd`y
itd ye idkmx hj dspkeqmyhej mji mppqmhmk
iqhkkhjl*Effceqd ehk pqeit`yhej hj 1?=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
19/136
Fhltqd07Dyhbmydimji_qegd`ydiMvdqmldMjjtmkEffceqdEhk_qeit`yhej+_qdBeqmyeqhtb
@mdv*Ady_eyBeqmyeqhtb@mdv*@tqqdjy_myc@md#BhkkhejAmqqdkefEhkpdqimx(
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Ycd 00?+??? amqqdk pdq imx ef hj`qdmdi
effceqdehkpqeit`yhej hj1?=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
20/136
feqd`mydi|hychjycd_qdBeqmyeqhtb@md
ax1?=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
21/136
idvdkepbdjyeppeqytjhyhdhjeycdqqdlhej
ef ycd|eqki|etki pqevhid m fhqy ydp ye
qdvhymkhwhjl ycd effceqd ehk mji lm
hjityqx+ hbpqevhjl ycd jmyhej djdqlx
d`tqhyx+mji`qdmyhjlycetmjief jddidi
gea my m yhbd ef chyeqh` chlc
tjdbpkexbdjy* Dspmjihjl m``d ye
pqebhhjl mqdm `tqqdjykx effkhbhy ye
idvdkepbdjy+ hj mj djvhqejbdjymkkx
qdpejhakdbmjjdq+ qdbmhjmndxbhhjl
`ebpejdjyefT*P*djdqlxpekh`xycmy|etki
lem kejl|mx ye|mqid`tqhjlMbdqh`m
djdqlxftytqd*
SHHH
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
22/136
=*Hjyqeit`yhej
=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
23/136
M chfy h e``tqqhjl hj ehk mji jmytqmk lm
hjityqx hjvdybdjy m|mx fqeb mqdm|hyc
pdq`dhvdi chlc ldepekhyh`mk qhn ye mqdm
|hyc yxph`mkkx chlcdq pqegd`y idvdkepbdjy
`ey #d*l*+ iddp|mydq effceqd mji cmkd
pkmx( bmjx ef |ch`c mqd ke`mydi hj ycd
\dydqjCdbhpcdqd*4Ldepekhyh`mk qhn hj
bmjx yqmihyhejmk ehk mji lm pqeit`yhej
qdlhej+ `etpkdi |hyc Hjydqjmyhejmk ehk
`ebpmjhdadhjl ctyety ef mqdm itd ye
qdetq`d jmyhejmkhb+ cm hj`qdmdi
epdqmyeq
mppdyhyd
feq
beqd
dspdjhvd
mji
yd`cjekelh`mkkx `ebpkds idvdkepbdjy hj
ymakdqdlhejt`cmycdTjhydiPymydmji
Dtqepd* Ych chfy pqddjy yqdbdjiet
eppeqytjhyx feq ycd idvdkepbdjy ef T*P*
djdqlx qdetq`d aeyc tj`ejvdjyhejmk
#cmkdehk mji lm( mjieffceqdpqegd`y
ycd kmyydq ef |ch`c h ycd tagd`y ef ych
qdpeqy*Ycd
T*P*+
beqd
e
ycmj
mjx
eycdq
mqdm+ pedd m kmqld iebdyh` qdetq`d
amd+ |eqki `km hjfqmyqt`ytqd mji mj
mivmj`di ehk mji lm tppkx `cmhj |ch`c
cetkimkke|hyyeadjdfhyfqebychyqdji*
]tdyEffceqdQdetq`d+ Hj`* #]tdy(|m
`ebbhhejdi ax ycd Mbdqh`mj _dyqekdtb
Hjyhytyd#M_H(
ye
pqevhid
mj
dvmktmyhej
ef
ycdhbpm`yefycdejlehjlke|htmj`def
effceqdiqhkkhjlpdqbhymymkk|mydqidpyc
hjycdLtkfefBdsh`efekke|hjlycdkhfyhjlef
4\mkkPyqddyGetqjmk+Id`dbadq+ 41?==*AhlEhk
CdmiAm`nCebd
ycd iddp|mydq iqhkkhjl beqmyeqhtb* Ycd
ndx hbpm`y mddi hj`ktid hjvdybdjy
kdvdk+ hj`ktihjl key hjvdybdjy ye mqdm
etyhid ef ycd T*P*+ dbpkexbdjy mji ycd
hbpkh`myhej feq ehk mji jmytqmk lm
pqeit`yhej evdq yhbd* Mke idvdkepdi
cdqdhj h m idvdkepbdjy pmyc ycmy |etki
bevd ycd Ltkf ef Bdsh`e `kedq ye hy
epyhbmktyhkhwmyhejef qdetq`dmtbhjlm
qdltkmyeqx yqt`ytqd ycmy qdytqjdi
pdqbhyyhjl qmyd am`n ye ycdhq chyeqh`mk
jeqb
mji
qdyeqdi
m
djd
ef
qdltkmyeqx
`dqymhjyxlehjlfeq|mqi*
]tdy hm ftkkdqvh`dbmqndy qddmq`cmji
`ejtkyhjl fhqb fe`tdi ej ycd lkeamk ehk
mji jmytqmk lm hjityqx* Bt`c ef ycd
mjmkxh hj ych qdpeqy qdkhd tpej pqegd`y
kdvdk imym fqeb ycd ]tdy Djcmj`di
Iddp|mydq Imymamd+ pqhbmqx hjfeqbmyhej
pqevhidi ax epdqmyeq+ d}thpbdjy
bmjtfm`ytqdq+ mji `ejyqm`yeq m`yhvd hj
ycd T*P* Ltkf ef Bdsh`e+ m |dkk m ptakh`
hjfeqbmyhej idqhvdi fqeb ycd Atqdmt ef
E`dmj Djdqlx Bmjmldbdjy #AEDB(+ ycd
Atqdmt ef Pmfdyx mji Djvhqejbdjymk
Djfeq`dbdjy #APDD(+ mji ycd T*P* Djdqlx
HjfeqbmyhejMibhjhyqmyhej
#DHM(*
Ych qdpeqy h yqt`ytqdi m fekke|*
_qd`dihjl ych hjyqeit`yeqx d`yhej h ycd
Ndx Fhjihjl mji Dsd`tyhvd Ptbbmqx
etykhjhjl mkk pqhj`hpmk qdtky mji
1
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
24/136
`ej`kthej ef ych qdpeqy* Hbbdihmydkx
fekke|hjl ych d`yhej h ycd Imym
Idvdkepbdjy d`yhej etykhjhjl ce| ]tdy
lmycdq imym ej pqegd`y mji `qdmyd
pqegd`yhej ef ftytqd effceqd hjityqx
pdjihjl* Ych d`yhej mke idvdkep ycd
ycqdd hjvdybdjy `djmqhe tjidqymndj hj
ych qdpeqy* Ycd `djmqhe qdtky d`yhej
pqevhid mj evdqvhd| ef ycd T*P* effceqd
ehk mji lm hjityqx qdkmyhvd ye ycd qdyef
ycd|eqki+dspkmhjiqhkkhjlpdqbhyqmydmji
ce|
ycdd
mffd`y
ycd
jtbadq
ef
|dkk
iqhkkdi mji ycd qhl fkddy* Ych d`yhej mke
dspkmhjce|pqegd`y hj ycdTjhydi Pymyd
cmvd addj mffd`ydi ax ycd iqhkkhjl
beqmyeqhtb mji ke| htmj`d ef pdqbhy*
Hj ycd qdtky d`yhej+ ycd dffd`y ef ycd
ihffdqdjy `djmqhe ej `mphymk hjvdybdjy+
dbpkexbdjy mji ehk mji jmytqmk lm
pqeit`yhejmqd
ih`tdi*
Ych
qdpeqy
`ked|hycycd`ej`kthejd`yhej*
Ych qdpeqy cm jhjd mppdjih`d> ycd fhqy
mppdjihs `ejymhj ycd idymhkdi pdjihjl
ymakd feq ycd ycqdd `djmqhe m |dkk m
eycdq qdlhej* Ycd d`eji mppdjihs
pqevhidycdidymhkdidbpkexbdjyjtbadq
feq ycd ycqdd`djmqhe*Ycdychqimppdjihs
`ejymhj ycd idymhkdi ehk mji jmytqmk lm
pqeit`yhej imym ax `djmqhe* Ycd jdsy
mppdjihshmaqhdfd`yhejidymhkhjlebdef
ycdbmgeqehkmjijmytqmkpqegd`yycmycmvd
addjidkmxdi hjycdT*P*Ycdfhfycmppdjihs
pqevhidmidymhkdikeenmyebdndxpqegd`y
hjih`myeq hj ycd T*P* tjidq ycd ycqdd
ihffdqdjy
`djmqhe
mji
dspkmhj
ce|
ycdd
`ebpmqdyeycdqdyef ycd|eqki*Ycdhsyc
mppdjihsdspkmhjce|iqhkkhjlidkmxmffd`y
pqegd`y+ |chkd ycd jdsy mppdjihs h m
idymhkdi evdqvhd| ef effceqd pqegd`y
idvdkepbdjy hj ycd Ltkf ef Bdsh`e* Ycd
dhlcyc mppdjihs pqevhid m qdfdqdj`d pehjy
ej |ch`c pqevhj`d mqd hj`ktidi |hychj
dm`cqdy
ef |eqki
qdlhej+
|chkd
ycd
jhjyc
mppdjihs idkhjdmyd ce| epdqmyeq |ce
epdqmyd hj ycd T*P* effceqd mqdm mqd
`kmhfhdimdhycdqmbmgeqeq hjidpdjidjy
epdqmyeq*
0
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
25/136
1*ImymmjiP`djmqheIdvdkepbdjy
9
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
26/136
1*=Evdqvhd|ef]tdyEffceqdImym
]tdy Effceqd Qdetq`d+ Hj`* h m ftkk
dqvh`dbmqndyqddmq`cmji`ejtkyhjlfhqb
fe`tdi ej ycd lkeamk iddp|mydq ehk mji
jmytqmk lm hjityqx* M m ftj`yhej ef
]tdy `eqd athjd+ ycd `ebpmjx h
djlmldiimhkx hjycd`ekkd`yhejmjimjmkxh
ef imymm hy qdkmyd ye ycdeffceqdehkmji
jmytqmk lm hjityqx* ]tdy dqvd ycd
lkeamk `ebbtjhyx ef epdqmyhjl ehk mji
jmytqmk lm `ebpmjhd+ ycdhq tppkhdq+
fhjmj`hmk fhqb+ mji bmjx eycdq ax
pqevhihjl idymhkdi imym mji mjmkxh ej
`mphymk hjvdybdjy mji epdqmyhejmk
pdjihjl tjidqymndj ax ycd effceqd
hjityqx* ]tdy `ekkd`y mji idvdkep
bmqndyimymfqebmvmqhdyxefetq`dmyycd
pqegd`y kdvdk feq pqegd`y ycqetlcety ycd
|eqki#Fhltqd4(*
Fhltqd47Ldjdqmkhwdi]tdyEffceqdImymLmycdqhjlBdyceiekelx
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
M tjh}td fdmytqd ef ych mjmkxh+ |ch`c
kdji hy chlc `qdihahkhyx+ h hy qdkhmj`d ej
pqhbmqx imym ycqetlc ihqd`y `ejym`y |hyc
ycdhjityqxtppkx`cmhj*Ych`ejjd`yhej
|hyc epdqmyhjl ehk mji jmytqmk lm
`ebpmjhd ycqetlc ye ycd bmkkdy ef
d}thpbdjy mji dqvh`d pqevhidq
ycqetlcetyycd|eqkihbpmqymchlc}tmkhyx
mji idlqdd ef m``tqm`x ye ycd imym* Ych
imymhyqm`ndihj]tdypqepqhdymqx]tdy
Djcmj`di Iddp|mydq Idvdkepbdjy
Imymamd m |dkk m eycdq pqepqhdymqx
_qegd`yKdvdk
Imym
_qhbmqx Petq`d
Pd`ejimqx
Petq`d
]tdy Imym
Vmkhimyhej
_qe`d
]tdyEffceqd
Iddp|mydq
Idvdkepbdjy
Imymamd
Bmqndy Imym & Mjmkxphp
Ydqyhmqx
Qddmq`c
]tdy Ptppkdbdjymk
Imymamd %Effkhjd
ImymQd`eqi
@khdjyIhqd`ydi
@ejtkyhjl
Qdpdmq`c&Imym
@ejptkyhjl
4
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
27/136
imymamd qdkmydi ye chpxmqi mji eycdq
fm`dyefycdlkeamktppkx`cmhj|eqki|hid*
]tdy mllqdlmyd `mphymk mji epdqmyhjl
dspdjihytqd ej mpqegd`y ax pqegd`y amh
feq pqegd`y |eqki|hid+ |hyc idymhkdi
hjfeqbmyhej qd`eqidiej ycd tppkxef ycd
d}thpbdjy mji dqvh`d jd`dmqx ye
idvdkep effceqd ehk mji jmytqmk lm
pqegd`y* ]tdy Effceqd yqm`n jey ejkx
dshyhjl eq chyeqh`mk pqegd`y+ aty mke
pqegd`y ycmy mqd hj mkk ymld ef
idvdkepbdjy
fqeb
ycd
pqepd`y
#eq
tjiqhkkdiymqldy(ymldycqetlcyepqeit`hjl
mjiid`ebbhhejdipqegd`y*Feqpqegd`y
|hycety fhqb idvdkepbdjy hjfeqbmyhej+
]tdy tyhkhwd adj`cbmqnhjl amdi ej
]tdy pqepqhdymqx imymamd ye feqd`my
idvdkepbdjy yhbhjl mji `djmqhe
mppqepqhmydyeycdyxpdefidvdkepbdjymji
qdlhej*
Ychhjfeqbmyhej+ `etpkdi
|hyc
epdqmyeq dspd`ydi dspkeqmyhej mji
mppqmhmk pqelqmb+ h tdi ye ymnd hjye
m``etjy xdy ye ad ih`evdqdi mji
idkhjdmydi fhdki ycmybmxadidvdkepdi hj
ycd feqd`my yhbd fqmbd* Pd`ejimqx imym
idvdkepbdjy |m mke tjidqymndj hj ych
mjmkxh mji qdfdq ye mjx etq`d ef
hjfeqbmyhej mji imym ycmy h jey `ekkd`ydi
vhmihqd`y`ejym`y|hycycdhjityqx+t`cm
pqd qdkdmd+ fhjmj`hmk qdpeqy+eycdq PD@
fhkhjl+ hjityqx |chyd pmpdq+ hjityqx
pqddjymyhej+ mji eycdq ptakh`kx mvmhkmakd
etq`d*
Ych pqepqhdymqx mppqem`c mkke|]tdy ye
djtqd
m
`ebpqdcdjhvd
`mjvmhjl
ef
ycd hjityqx |eqki|hid+ |ch`c hj ytqj
fm`hkhymyd m chlc kdvdk ef vmkhimyhej mji
}tmkhyx`ejyqekjddidiyepqeit`dm``tqmyd
mjmkxh mji feqd`my*Ej`d `ekkd`ydi mji
vdqhfhdi+ycdimymhcetdimjibmhjymhjdi
hj ]tdy Effceqd Iddp|mydq
Idvdkepbdjy Imymamd* Ycd pqhbmqx
`ebpejdjyef ych
pqepqhdymqx
imymamd
mqdycdjtbdqetphd`defeffceqdehkfhdki
d}thpbdjymjidqvh`dycmymqdtdihjycd
idvdkepbdjyefmjeffceqdpqegd`y*
6
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
28/136
1*1ImymIdvdkepbdjy
]tdy Effceqd dyhbmyd ef effceqd
pdjihjl|midkhjdmydi hjye fetqpqhbmqx
`mydleqhdfeq
mkk
qdlhej7
Ldedhbh`
mji
Ldepcxh`mk #L&L(+ Iqhkkhjl+ Ptadm
D}thpbdjy mji Fm`hkhyhd* Ycdd `mydleqhd
|dqd ftqycdq idkhjdmydi ax |mydq idpyc+
tyhkhwhjlycedpqegd`yhjkdycmj4??FP\
#fddy ef mky |mydq( m Pcmkke| |mydq mji
lqdmydq ycmj 4?? FP\ m iddp|mydq*
Ftqycdqbeqd+ycdd
`mydleqhd
|dqd
ftqycdq
ihvhidi hjye ycd `mphymk mji epdqmyhejmk
pdjihjl `ebpejdjy ef djlhjddqhjl mji
kmaeq+ pqe`tqdbdjy+ mji hjymkkmyhej
pdjihjl|cdqdmppkh`makd#Fhltqd
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
29/136
Bmjmldbdjy mji Atqdmt ef Pmfdyx mji
Djvhqejbdjymk Djfeq`dbdjy mji |m
`ebahjdi|hyc]tdy feqd`myef cmkke|
|mydq pkmyfeqb mji |dkk |eqki|hid ye
pqevhid hjfeqbmyhej ej ycd jtbadq ef
cmkke| |mydq idvdkepbdjy feq chyeqh`mk
mji feqd`my xdmq* Ych hjfeqbmyhej |m
ycdj`ebahjdi|hycdyhbmydi`eyfeqycd
vmqhet d}thpbdjy phd`d ye pqevhid
dyhbmyd ef `mphymk hjvdybdjy*
Epdqmyhejmk `ey |dqd amdi ej nje|j
epdqmyhjl `ey feq fm`hkhyhd mji |dqd
dsyqmpekmydi feq tjnje|j fm`hkhyhd amdi
ej adj`cbmqn m``eqihjl ye fm`hkhyx yxpd+
fm`hkhyxhwd+pqeit`yhej+mjimld*
1*0P`djmqheIdvdkepbdjy
Hjycd
|mnd
efycd
Bm`ejie
yqmldix
efMpqhk
1?=?+middp|mydqiqhkkhjlbeqmyeqhtb|m
hbpedi ceqykx ycdqdmfydq hj ycd Ltkf ef
Bdsh`e cmkyhjl mkk iddp|mydq iqhkkhjl*
Miihyhejmkkx+ itqhjlycd fetqbejycef ycd
iddp|mydqiqhkkhjlbeqmyeqhtb+ ycd qmydef
cmkke| |mydq iqhkkhjl pdqbhy fdkk ax
mppqeshbmydkx4?pdq`djy`ebpmqdi ye ycd
pqdvhetfetqbejyc*
Mfydq ycdeffh`hmkdjief ycdbeqmyeqhtb hj
E`yeadq 1?=?+ iddp|mydq iqhkkhjl pdqbhy
adlmjyeadhtdi+mkadhymymbt`cke|dq
qmyd ycmjpqheqye ycdbeqmyeqhtb+|hyc44
pdq`djy fd|dq pdqbhy pdq bejyc adhjl
htdi ej tp ye Jevdbadq+ 1?== ycmj hj
1?=?pqheq
ye
ycd
beqmyeqhtb*
Pcmkke|
|mydqpdqbhyyhjlcmqd`evdqdiyemlqdmydq
dsydjy ycmj iddp|mydq pdqbhyyhjl+ xdy hj
|mydqidpyc kd ycmj4?? fddypdqbhyyhjl
qdbmhj0?pdq`djyke|dq+ejmvdqmld+ycmj
fqebycd
Gmjtmqx
1??3
tjyhk
ycd
adlhjjhjl
efycdbeqmyeqhtb*
\hycety ycd yhbdkx htmj`d ef iqhkkhjl
pdqbhy+ycdmahkhyxef epdqmyeqyeidvdkep
effceqd ehk mji jmytqmk lm qdetq`d h
dvdqdkx `tqymhkdi*Jeyejkxied m km`n ef
pdqbhy kdmvd iqhkkhjl qhl hikhjl dhycdq
effceqdeq
hj
`emymk
|mydq+
aty
dvdj
feq
qhl |ch`c mqd qd`dhvhjl pdqbhy+ idkmx
`mtd tj`dqymhjyx hj ycd jdsy iqhkkhjl
ke`myhej |ch`c `mtd ihffh`tkyhd feq
epdqmyeq hj pkmjjhjl mji id`qdmd ycd
jtbadqef |dkkm qhl`mjiqhkk hjmjxlhvdj
pdqhei* \hycety m tffh`hdjy hjvdjyeqx ef
mppqevdi+ pdqbhyydi iqhkkhjl eppeqytjhyhd+
epdqmyeqcmvd
hj`qdmdi
hj`djyhvd
ye
qdke`myd iqhkkhjl qhl ye eycdq qdlhej
etyhid ycd T*P ycdqdax id`qdmhjl ycd
kejlydqbpqepd`yef ycdeffceqdT*P*ehk
mjijmytqmklmhjityqx*
3
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
30/136
M km`n ef iqhkkhjl hbpm`y mkk ymld ef
effceqd ehk mji jmytqmk lm pqegd`y
idvdkepbdjy* Ycd fhqy ydp hj pqeit`hjl
effceqd ehk mji jmytqmk lm h ih`evdqhjl
qdetq`dycqetlcycdiqhkkhjlefdspkeqmyhej
|dkk* Tjyhk mj dspkeqmyhej |dkk h m`ytmkkx
iqhkkdi+ ycdqd h je |mx ye m``tqmydkx
idydqbhjd ycd pqddj`d mji `mkd ef
cxiqe`mqaej qddqvd*Ej`dmjdspkeqmyhej
|dkk h iqhkkdi+ mppqmhmk iqhkkhjl h `mqqhdi
etyyeidydqbhjdycdhwdmjijmytqdefycd
qddqvd
hj
pkm`d+
ebdyhbd
qdfdqqdi
ye
m
ycd idkhjdmyhej pcmd* Mfydq mj epdqmyeq
idydqbhjd m pkmj ye pqeit`d ehk mji
jmytqmklm qdetq`d+idvdkepbdjyiqhkkhjl
djtd hjeqidq yeiqhkkmji`ebpkdyd|dkk
feqpqeit`yhej*Fqebycdhjhyhmkih`evdqxef
ehk mji jmytqmk lm+ dhlcy xdmq pmd+ej
mvdqmld+adfeqdhjhyhmyhjlehkmjijmytqmklm
pqeit`yhej feq iddp|mydq pqegd`y* Ye
m`chdvd pqeit`yhej+ ehk mji jmytqmk lm
pqegd`y pm ycqetlc vmqhet ymld ef
idvdkepbdjy #Fhltqd
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
31/136
_myc @md+ h ]tdy dyhbmyd ef ycd
`tqqdjy pmyc ef ycd effceqd ehk mji lm
hjityqx+ tjidq `tqqdjy qdltkmyhej mji
pdqbhyyhjl qmyd* Ycd ychqi `md+ eq Ady
_eyBeqmyeqhtb @md+ pqegd`y ycd bey
khndkx `djmqhe feq ycdeffceqdehk mji lm
hjityqx hf m qdytqj ye pqdbeqmyeqhtb
pdqbhyyhjl qmyd tjidq m amkmj`di
qdltkmyeqx6 qdlhbd |dqd ye ymnd pkm`d hj
1?=1* @mphymk hjvdybdjy+ ehk mji jmytqmk
lmpqeit`yhej+mjidbpkexbdjy kdvdkmqd
idvdkepdi
feq
dm`c
ef
ycdd
`djmqhe*
6Idfhjdimpdqbhyadhjlhtdihjmyhbdkx
bmjjdqtjidqmkkjd|mfdyxqd}thqdbdjyye
mkke|epdqmyeqyeathkimjhjvdjyeqxefpdqbhy
yefkdshakxmjidffh`hdjykxidvdkepehkmjijmytqmk
lmqdetq`d*
=?
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
32/136
1*9LkeamkP`djmqheIdvdkepbdjy
Ycdqd hejkxejdfeqd`myfeqeycdqqdlhej
efycd|eqkimjihyhamdiej]tdybey
`tqqdjypqegd`yhej*
Hjvdybdjy
kdvdk
hj
eycdqqdlhejmqdpqegd`ydihjmhbhkmq|mx
yeLtkf ef Bdsh`e+|hycpqegd`y yqm`ndimy
mjhjihvhitmk kdvdkyefeqbevdqmkkfeqd`my*
Ycdd qdlhej+ |ch`c |dqd idvdkepdi ax
lqetphjl`etjyqhd hjye fhvdbmgeqeffceqd
ehk mji lm pqeit`yhej qdlhej+ mqd
`ebpedief ldelqmpch`mkkx`ked`etjyqhd
id`qhadi hjMppdjihs3* Phbhkmq pdjihjl
adj`cbmqn m yced tdi ye idvdkep ycd
T*P*effceqd pdjihjl|dqdidvdkepdi feq
ycd qdlhej hj }tdyhej* Ppdjihjl feq
pqegd`yhjeycdq`etjyqhdhhj`kthvdefycd
mbd`ebpejdjym pdjihjl feq ycdT*P*
mjihdspd`ydiyefekke|hbhkmqhjvdybdjy
pmyydqj*Feq
ycd
qdy
efycd
|eqki+
ejkx
ejd
hjvdybdjy `md |m idvdkepdi+
`eqqdpejihjl ye ycd `tqqdjy bey khndkx
pmyc feq ycmy mqdm m btkyhpkd `md |dqd
adxeji ycd `epd ef ych qdpeqy* Hy cetki
ad jeydi ycmy tjidq ycd Ady _ey
Beqmyeqhtb@mdeycdqqdlhej|etkikhndkx
ddmid`khjdhjpdjihjlmhjvdybdjymji
mdy qdytqj ye ycdT*P* Ycd pdjihjl feq
ycdqdyef ycd|eqki|midkhjdmydi hjycd
mbd `mydleqhd m ycd pdjihjl feq ycd
TjhydiPymyd*
1*4Tj`dqymhjyxmjiMtbpyhejhjImym@ekkd`yhejmjiFeqd`myhjl
M|hycmjxbmqndyfeqd`my+ycdpqegd`yhej
pqevhidi cdqdhj mqd tagd`y ye `cmjld
m``eqihjl ye ycd ixjmbh` ef ycd effceqd
ehk mji jmytqmk lm hjityqx mji
bm`qed`ejebh` `ejihyhej* \chkd ]tdy
cm pqevhidi ycd hjvdybdjy etykeen
m``eqihjl ye m etji feqd`myhjl
bdyceiekelx ycmy cm addj |hidkx
m``dpydi ycqetlcety ycd hjityqx+ ycdqd
qdbmhj ebd bmqlhj ef dqqeq #eq
tj`dqymhjyx( |cdj mdhjl kejlydqb
m`yhvhyxfeqhjihvhitmk `ebpmjhd*
==
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
33/136
0*P`djmqheQdtky
=1
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
34/136
Dvdj ycetlc ycd T*P* effceqd ehk mji
jmytqmk lm hjityqx epdqmyd hj m lkeamk
`ebpdyhyhvd djvhqejbdjy+ ycd T*P* h m
qdkmyhvdkx myyqm`yhvd `etjyqx feq ehk mji
jmytqmklm`ebpmjxhjvdybdjy*Ychhitd
ye hy pekhyh`mk ymahkhyx+ mivmj`di ehk mji
jmytqmklmtppkx`cmhjmji|dkkidvdkepdi
ehkmjilmhjfqmyqt`ytqd*
Ych d`yhej pqevhid ycd amh feq ycd
@tqqdjy pmyc @md+ Ady _eyBeqmyeqhtb
mji _qdBeqmyeqhtb @md ef ycd T*P*
effceqd ehk mji jmytqmk lm hjityqx hj
ydqb ef pdqbhyyhjl mji jtbadq ef |dkk
iqhkkdievdq ycd1?=? ye1?=4 yhbdpdqhei*
Ycd d`yhej `ebbdj`d |hyc m ceqy
evdqvhd| ef ycd hwd ef ycd T*P* hjityqx
qdkmyhvd ye ycd lkeamk bmqndy mji aqhdfkx
id`qhadbmgeq`ebpdyhjl qdlhej* Ych h
fekke|di ax m `cmqm`ydqhwmyhej ef ycd
`djmqhepqegd`yhej feqpdqbhy+iqhkkhjlqhl
m`yhvhyx+ |dkk iqhkkdi+ mji ycd jtbadq ef
pqegd`yidvdkepdi*
=0
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
35/136
0*=Evdqvhd|T*P*EffceqdEhkmjiJmytqmkLmHjityqxQdkmyhvdyeQdyefycd\eqki
YcdT*P*Ltkf ef Bdsh`e hejkxejdef ycd
bmjx mqdm ef ycd |eqki |cdqd ehk mji
jmytqmklm
pqeit`yhej
ymnd
pkm`d
effceqd*
Phj`dbmjxepdqmyeqm`yhvdhjycdT*P*Ltkf
ef Bdsh`e epdqmyd lkeamkkx+ m `ejyhjtdi
ke|ie|j hj pdqbhy adhjl htdi hj ycd
T*P* `etki qdtky hj hjvdybdjy chfyhjl ye
eycdq qdlhej* Hj1?=?+ 1*=bhkkhejamqqdk
efehkpdqimx|dqdpqeit`dieffceqdhjycd
TjhydiPymyd
ycmy
m``etjydi
feq
=9
pdq`djy
ef lkeamk effceqd pqeit`yhej #Fhltqd 3(*
Effceqd T*P* jmytqmk lm pqeit`yhej |m
1*9 pdq`djy ef lkeamk effceqd pqeit`yhej
feqycdmbdxdmq*
Fhltqd37Dyhbmydi1?=?LkeamkEffceqdEhk_qeit`yhejaxQdlhej#_dq`djy(
#YeymkLkeamkEffceqd_qeit`yhej2=4*9BhkkhejAAkpdqimx(
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
\hycetylqe|hjlhjvdybdjy+ycdT*P*
bmqndycmqdefeffceqdlkeamkehkmji
jmytqmklmpqeit`yhej`etkiid`qdmdfqeb
hymkqdmixidpqddikdvdkmhjvdybdjyhj
ycdT*P*fmkkqdkmyhvdyeeycdqqdlhej*Hj
1?==+ycdT*P*hpqegd`ydiyem``etjyfeq
ejkx6pdq`djy+eq)3*8ahkkhej+eflkeamk
TPLeB+ Mkmnm
=9$
Mfqh`m%Bdihy*
=9$
Mhm
_m`hfh`%Bhiikd
Dmy
=3$
Jeqyc Pdm%Mq`yh`
18$
PetycMbdqh`m
=6$
@mjmim&
Bdsh`e
8$
=9
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
36/136
effceqdehkmjilmhjvdybdjyvmktdimy
)=96ahkkhej#Fhltqd8(*
Fhltqd87_qegd`ydi1?==T*P*v*EycdqQdlhejEffceqdEhkmjiJmytqmkLm@mphymkHjvdybdjy
_qegd`yhej#Mkk\mydqIdpyc(#YeymkLkeamk@mphymkDspdjihytqd2)=94*
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
37/136
chfyqdetq`dm|mxfqebycdT*P*yeeycdq
qdlhej*FeqycdT*P*yehj`qdmdhycmqdef
lkeamk hjvdybdjy mji pqeit`yhej+ m ndx
fhqy ydp h ye qdyeqdiqhkkhjlpdqbhyam`n
yepqdBeqmyeqhtbkdvdk*
Hj qd`djy xdmq+ctld jd| qdetq`d amhj
cmvd addj ih`evdqdi hj eycdq tppkx
qdlhej|ch`c|hkk `ebpdyd feq hjvdybdjy
|hyc ycd Tjhydi Pymyd* Hj Aqmwhk+ ycd
jmyhejmk ehk `ebpmjx _dyqeaqm+ |ch`c h
mke m`yhvd hj ycd Ltkf ef Bdsh`e+ cm
ih`evdqdiydj
ef ahkkhej
ef amqqdk
ef ehk
qddqvdhjAqmwhkhmjiddp|mydqmqdm|ch`c
|hkk je| `ebpdyd feq ycd mbd
idvdkepbdjyqdetq`dmT*P*pqegd`y*3 Hj
ycd Dmydqj Bdihydqqmjdmj+ bmjx yqhkkhej
ef `tah` fddy ef jmytqmk lm cmvd addj
ih`evdqdi hjiddp|mydq hjmqdm|hyc khyykd
chyeqxef ehkeqjmytqmklmpqeit`yhej*8 Hj
\dy Mfqh`m+ `etjyqhd|hyc qdkmyhvdkx khyykd
chyeqx ef effceqd ehk mji jmytqmk lm
idvdkepbdjy t`c m Lcmjm+ ycd Hveqx
@emy mji Phdqqm Kdejd cmvd adltj ye
ih`evdqkmqldehkqddqvd*YcqetlcetyMhm+
`etjyqhdt`cm@chjm+Vhdyjmb+Bmkmxhm+
Hjihm+ Hjiejdhm mji Mtyqmkhm mqd
myydbpyhjlye
qmphikx
lqe|
ycdhq
effceqd
ehk
3Aqmwhkhmjpqdmkyih`evdqhdhj`ktidKtkm+
Ltmqm+@mqhe`m+@dqjmbah+ mji@mqhe`mmbejl
eycdq*M``eqihjlye_dyqeaqm+ ycdKtkm
m``tbtkmyhej mkejdcmqd`evdqmakdvektbd
dyhbmydimy4ye3ahkkhejamqqdkehkd}thvmkdjy*8PddJeakdDjdqlxEpdqmydiYmbmq+Kdvhmycmj+
mjiMpcqeihyd#@xpqtM(
mjijmytqmklmpqeit`yhej*Ycdd`etjyqhd
|hkk `ebpdyd feq ycd mbd hjvdybdjy
iekkmqm ycdTjhydiPymyd* Hj ycd fm`def
t`c hj`qdmdi `ebpdyhyhej ax eycdq
`etjyqhd+ ycdeffceqdT*P*ehkmjijmytqmk
lm hjityqx|hkkfhji hy hj`qdmhjlkxihffh`tky
ye `ebpdyd|hycety m amkmj`di qdltkmyeqx
qdlhbdmjiyhbdkxpdqbhyyhjlpqe`d*
=6
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
38/136
0*1Iqhkkhjl_dqbhyHtmj`dQmyd
Ych d`yhej|hkkih`t `tqqdjy+ chyeqh`mk+
mjipqegd`ydiyqdji feqpdqbhyyhjl feqycd
effceqdehk
mji
jmytqmk
lm
hjityqx
hj
ycd
T*P* Iqhkkhjl pdqbhy mqd qd}thqdi feq mkk
iqhkkhjl m`yhvhyx effceqd ef ycd Tjhydi
Pymyd* \hycety ycdd pdqbhy epdqmyeq
`mjjey iqhkk ehk mji jmytqmk lm |dkk mji
yct `mjjey pqe`ddi |hyc bey ehk mji
jmytqmk lm idvdkepbdjy m`yhvhyhd* Ycd
Atqdmt ef E`dmj Djdqlx Bmjmldbdjy
#AEDB(m|dkkmycdAtqdmtefPmfdyxmji
Djvhqejbdjymk Djfeq`dbdjy #APDD( mqd
qdpejhakd feq pdqbhyyhjl effceqd iqhkkhjl
mjiidvdkepbdjy hj ycdTjhydiPymyd*Ycd
AEDB h pqhbmqhkx qdpejhakd feq ycd
mppqevmk ef dspkeqmyhej mji idvdkepbdjy
pkmj*YcdAPDD h qdpejhakd feqmppqevmk
ef
pdqbhy
feq
iqhkkhjl
hj`ktihjl
ycd
djvhqejbdjymkmjiehk phkk qdpejdpkmj+
m|dkkm hjpd`yhjliqhkkhjlqhl+mjieycdq
fm`hkhyhd*
Ycd iddp|mydq iqhkkhjl beqmyeqhtb ycmy
adlmj hjBmxef 1?=?cmkydi mkkiqhkkhjl hj
lqdmydq ycmj 4?? fddy ef |mydq hj ycd eff
ceqd T*P* mji cmkydi ycd htmj`d ef
ftqycdq iddp|mydq iqhkkhjl pdqbhy* My ycd
mbd yhbd+ ycd jtbadq ef mppqevmk ef
cmkke||mydqiqhkkhjlpdqbhyfdkkfmqadke|
chyeqh`mk
qmyd*
\chkd
ycd
iqhkkhjl
beqmyeqhtbdjidi hjE`yeadqef 1?=?+ycd
qmydef htdiiqhkkhjlpdqbhycmqdbmhjdi
adke| chyeqh`mk kdvdk #Fhltqd =?(* Dvdj
ycetlc ycd djief ycdiqhkkhjlbeqmyeqhtb
|mhjE`yeadqef1?=?+iqhkkhjlpdqbhyqmyd
qdbmhj my chyeqh`mkkx ke| kdvdk+ |hyc
iddp|mydqpdqbhy`tqqdjykxadhjlhtdimy
kd ycmjcmkf ycd qmyd`ebpmqdi|hycpqd
beqmyeqhtb kdvdk* Mj mvdqmld ef ?*=8?
iddp|mydq pdqbhy cmvd addj htdi pdq
imx hj`d ycd dji ef ycd beqmyeqhtb ye
pqddjy`ebpmqdiye?*086ejmvdqmldpdq
imxfqebycdadlhjjhjlef1??3yeycdymqy
ef ycdbeqmyeqhtb* Pcmkke||mydq pdqbhy
mqd
adhjl
htdi
my
qmyd
9?
pdq`djy
ke|dq+
|hyc pdqbhy adhjl htdi my mj mvdqmld
qmydef ?*93
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
39/136
Fhltqd=?7Iddp|mydqmjiPcmkke|\mydqJd|\dkkIqhkkhjl_dqbhy1??3Jevdbadq1?==
Petq`d7AtqdmtefE`dmjDjdqlxBmjmldbdjy+ AtqdmtefPmfdyxmjiDjvhqejbdjymkDjfeq`dbdjy
Ymakd47MvdqmldJd|\dkkIqhkkhjl_dqbhyMppqevmk7Gmjtmqx1??3PymqyefIqhkkhjl
Beqmyeqhtb+IqhkkhjlBeqmyeqhtb+mjiDjiefIqhkkhjlBeqmyeqhtbJevdbadq1?==ax\mydq
Idpyc
Petq`d7AtqdmtefPmfdyxmjiDjvhqejbdjymkDjfeq`dbdjy*
?
=?
1?
0?
9?
4?
6?
JtbadqefJd|\dkk_dqbhyHtdi
Bejyc
Pcmkke|\mydq Iddp\mydq
Jd|\dkkIqhkkhjl_dqbhyMppqevmkIddp|mydq
#:4??FP\(
Pcmkke|
\mydq
#;24??FP\(
Iddp|mydq
Mvdqmldpdq
Imx
Pcmkke|
\mydq
Mvdqmldpdq
Imx
Gmjtmqx1??3Gtjd3+1?=? 041
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
40/136
0*0IqhkkhjlQhlmji\dkkIqhkkdi
Hf ycd 1?== yqdji hj pdqbhyyhjl qmyd
`ejyhjtd+ycdmahkhyxefycdeffceqdehkmji
jmytqmklm
hjityqx
ye
iqhkk
|dkk
mji
idvdkep qdetq`d|hkkadlqdmykxchjidqdi+
kdmihjl ye ke|dq kdvdk ef hjvdybdjy+
dbpkexbdjy mji pqeit`yhej* @tqqdjy
pdqbhyyhjl qmyd feq jd| |dkk |etki
hjih`myd qdit`dim`yhvhyxm ycdbey khndkx
ety`ebd m ycdjtbadqef |dkk dspd`ydi
yead
iqhkkdi
ye
bddy
ycd
Ady _ey
Beqmyeqhtb @md h fmq maevd ycd mvdqmld
jtbadqef pdqbhy htdi hj1?== feqaeyc
iddp|mydqmjicmkke||mydq|dkk #Fhltqd
==mjiFhltqd=1(*
Fhltqd==7_qegd`ydiIddp|mydqJtbadqefJd|\dkk1?==1?=4mji1?==MvdqmldJd|\dkk
_dqbhy
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
?
1?
9?
6?
3?
=??
=1?
1?== 1?=1 1?=0 1?=9 1?=4
Jtbadqe
f\dkk%_dqbhy
Xdmq
Ady_eyBeqmyeqhtb@md 1?==MvdqmldIddp|mydq_dqbhyQmyd
=8
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
41/136
Fhltqd=17_qegd`ydiPcmkke|\mydqJtbadqefJd|\dkk1?==1?=4mji1?==MvdqmldJd|
\dkk_dqbhy
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Dvdj hf ycd jtbadq ef pdqbhy htdigty
d}tmkdi ycdjtbadqef |dkk yeadiqhkkdi+
ych|etkijey `ebpkdydkxbddy ycdjddi
ef ycdhjityqx+
m
hy
|etki
jey
mkke|
epdqmyeq ye `cmjld pkmj amdi ej ycd
qdtky ef ycdhq iqhkkhjl pqelqmb mji
dffh`hdjykx `cditkd iqhkkhjl* Ye bmshbhwd
iqhkkhjl dffh`hdj`x dsyqm iqhkkhjl pdqbhy
adxeji ycd jtbadq ef |dkk dspd`ydi ye
ad iqhkkdi mqd jddidi m jey mkk iqhkkhjl
pdqbhymqdtdi*
Ycd`tqqdjyqmydef pdqbhymppqevmk hjey
tffh`hdjyyebddyycdidbmjieffeqd`mydi
|dkk* Hy h hbpeqymjy ye jeyd ycmy jey mkk
iqhkkhjl pdqbhy mqd tdi* Epdqmyeq jddi
ds`d pdqbhy ye epdqmyd fkdshakx mji
dffh`hdjykx itd ye ycd kmqld `mphymk
`ebbhybdjy mji feq|mqi pkmjjhjl
qd}thqdiye
iqhkk
effceqd
ehk
mji
jmytqmk
lm
|dkk* \chkd epdqmyeq `mj dyhbmyd ycd
kdjlyc ef yhbd qd}thqdi ye iqhkk effceqd
|dkk+ ycdqd hje|mx ye `ebpkdydiqhkkhjl
dsm`ykxej `cditkd feqmkk|dkk+dpd`hmkkx
feq epdqmyeq |hyc btkyhpkd iqhkkhjl qhl hj
ihffdqdjy mqdm* Hy h bt`cbeqd dffh`hdjy
mji `ey dffd`yhvd ye cmvd btkyhpkd
mppqevdipdqbhyqdmixyeiqhkk|cdjm|dkk
h `ebpkdydi ycmj ye `ebpkdyd m|dkk mji
|mhy dhycdq ej ycd pqdvhet ke`myhej eq hj
peqy ye qd`dhvd mjeycdqpdqbhy*\hyc qmyd
feqiddp|mydqiqhkkhjl qhlefydj ds`ddihjl
?
4?
=??
=4?
1??
14?
0??
1?== 1?=1 1?=0 1?=9 1?=4
Jtbadqef\dkk%_dqbhy
Xdmq
Ady _eyBeqmyeqhtb@md 1?==MvdqmldPcmkke|\mydq_dqbhyQmyd
1?
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
42/136
)4??+???mimx+ycdkm`nefmiqhkkhjlpdqbhy
hjvdjyeqx `mjiqmyh`mkkx hj`qdmd `ey feq
epdqmyeqhjycdT*P*mjibmndycdT*P*kd
`ebpdyhyhvdqdkmyhvdyeeycdqqdlhej*
0*0*=Dspkeqmyhej+ Mppqmhmk+
mji
Idvdkepbdjy
Iqhkkhjl
Ye dffh`hdjykx idvdkep effceqd ehk mji lm
qdetq`d+iqhkkhjlpdqbhybtyadmvmhkmakd
hj m yhbdkx bmjjdq ycqetlcety ycd ycqdd
bmgeq ymld ef mj effceqd pqegd`y>
dspkeqmyhej+ mppqmhmk+ mji idvdkepbdjy*
Ych d`yhej dspkmhj ycd hbpeqymj`d ef
ihffdqdjyyxpd
ef iqhkkhjl
ye
ehk
mji
jmytqmk
lmidvdkepbdjymjice|m km`nef iqhkkhjl
pdqbhy hj ycdd ymld|etkiaddspd`ydi
ye mffd`y ehk mjijmytqmk lm idvdkepbdjy*
Ycd fhqy ymld ih`tdi h dspkeqmyeqx
iqhkkhjl ef kdmdi aty tjiqhkkdi ehk mji lm
ymqldy* _qheq ye iqhkkhjl dspkeqmyhej |dkk+
epdqmyeq bty fhqy tabhy mji qd`dhvd
mppqevmkfqebAEDBefmjdspkeqmyhejpkmj
|ch`c h m ie`tbdjy jeqbmkkx `evdqhjl
btkyhpkd |dkk mji hj`ktihjl tqvdx+ phkk
qdpejd pkmj mji eycdq hjfeqbmyhej
idpdjihjlej ycd|mydqidpycmji yxpdef
|dkk*Mfydq ycd mppqevmkef ycd dspkeqmyhej
pkmjdm`chjihvhitmk |dkkbtyadpdqbhyydi
axycd
APDD
adfeqd
iqhkkhjl*
\chkddhbh` yd`cjekelxcmaddjlqdmykx
hbpqevdi hj hidjyhfxhjl peydjyhmkkx
d`ejebh` pqepd`y+ ycd ejkx |mx ye
idfhjhyhvdkx`ejfhqb|cdycdqehkmjilmhhj
pkm`d h ycqetlc iqhkkhjl* \cdj epdqmyeq
idydqbhjd pehakd iqhkkhjl ymqldy+ hy h
jd`dmqx ye pqheqhyhwd ycdd ymqldy amdi
tpejbmjx fm`yeq hj`ktihjl ycddyhbmydi
`ey ef idvdkepbdjy mji ycd dyhbmydi
mbetjy ef qd`evdqmakd qddqvd hj pkm`d*
\cdjmj
epdqmyeq
pti+
eq
adlhj
iqhkkhjl mj dspkeqmyhej |dkk+ ycd epdqmyeq
jeqbmkkx cm hj pkm`d vmqhet ymqldy my
dyhbmydi iqhkkhjl idpyc my |ch`c ycdx
dspd`y ye dj`etjydq ehk mji jmytqmk lm*
Efydj+mhidyqm`n+eqycdiqhkkhjlefmjeycdq
ceqy|dkkaeqdejycdhidefycdbmhjaeqd
|ch`c jddi hy e|j pdqbhy h jddidi ye
ftqycdq tjidqymji ycd qddqvehq* Ych
pqe`d h jeqbmkkx qdpdmydi my vmqhet
idpycidpdjihjlej ycdepdqmyeqiqhkkhjl
pkmj*
Bmjx dspkeqmyhej |dkk fhji je ehk eq
jmytqmk lm+ eq ejkx fhji bmkk jej
`ebbdq`hmk }tmjyhyhd* Fmhktqd hj
dspkeqmyhej iqhkkhjl h `ebbej mji
dspdjhvd>iqhkkhjlmiddp|mydqdspkeqmyhej
|dkk hj ycd Ltkf ef Bdsh`e jeqbmkkx `ey
evdq )=?? bhkkhej* Epdqmyeq bty iqhkk
bmjx |dkk ye hidjyhfx m peqyfekhe ef
1=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
43/136
`ebbdq`hmkpqeit`yhejpqepd`yjd`dmqx
yebmshbhwdycdhqhjvdybdjyhjiqhkkhjlqhl
m |dkk m bddy yqmydlh` dspkeqmyhej mji
pqeit`yhejlemk*Itd ye ycdyhbdqd}thqdi
yemjmkxwdycdqdtkyefdspkeqmyhejiqhkkhjl+
hy h hbpeqymjy feq epdqmyeq ye cmvd mj
hjvdjyeqxefehkmjijmytqmklmih`evdqhd*
Bmjx fm`yeq mffd`y ce| epdqmyeq
pqheqhyhwd ih`evdqhd feq idvdkepbdjy*
Pebdih`evdqhd`mjejkxadidvdkepdi hj
ymjidb|hyceycdqjdmqaxqdetq`d+|ch`c
bmx
eq
bmx
jey
ad
e|jdi
ax
ycd
mbd
lqetp ef epdqmyeq* Miihyhejmkkx+ ycd
dshydj`d ef mvmhkmakd hjfqmyqt`ytqd
hj`ktihjl fm`hkhyhd mji phpdkhjd `mj mffd`y
ycd d`ejebh` mji yhbhjl ef pqegd`y* Mj
hjmahkhyx ye iqhkk djetlc dspkeqmyhej |dkk
|hychj m `dqymhj qdlhej+|cdycdq itd ye m
iqhkkhjlbeqmyeqhtb+mpdqbhy ke|ie|jeq
eycdqqdmej+
`mtd
ycd
dspkeqmyhej
mji
pqeit`yhej ef cxiqe`mqaej ye ad kd
myyqm`yhvd ye epdqmyeq qdkmyhvd ye eycdq
qdlhej |cdqd ych h jey ycd `md+ hf
dvdqxychjldkdqdbmhjd}tmk*
Mfydq mjmkxh ef ycd dspkeqmyhej iqhkkhjl h
`ebpkdyd+ epdqmyeq jeqbmkkx tjidqymnd
|cmyh
nje|j
m
mppqmhmk
iqhkkhjl*
Mppqmhmk iqhkkhjl h tjidqymndj ye `ejfhqb
ycd qdtkyef ycd hjhyhmkdspkeqmyhejiqhkkhjl
mjiidkhjdmydycdqdetq`dhjpkm`dmady
mpehakd*Mppqmhmk|dkkmqdiqhkkditpye
ycd pehjy ycmy ycd epdqmyeq cm djetlc
tjidqymjihjlefycdhwdmjijmytqdefycd
ehk mji lm qddqvehq ye pqe`ddi |hyc ycd
idvdkepbdjyid`hhej*
Ej`d m idvdkepbdjy id`hhej h bmid m
idvdkepbdjypkmjbtyadmppqevdiaxycd
AEDBetykhjhjl ycdpkmjjdiidvdkepbdjy*
Tpej eaymhjhjl mppqevmk+ m tffh`hdjy
jtbadq ef iqhkkhjl pdqbhy ye ymqy iqhkkhjl
bty ad mppqevdi ax APDD+ ycdj
idvdkepbdjyiqhkkhjl+
eq
ycd
iqhkkhjl
ef ehk
mjijmytqmklmpqeit`yhej|dkk`mjadlhj*
Ycd kdjlycef yhbdadfeqddspd`ydipqegd`y
ymqytpvmqhdidpdjihjltpej ycdjtbadq
ef|dkkpkmjjdim|dkkmycdmvmhkmahkhyxef
iqhkkhjl qhl* Ycdd vmqxhjl htd iqhvd
iqhkkhjl`cditkd|ch`c`etkiadlhjyeymnd
pkm`d hbbdihmydkx mfydq mj`yhej mji
`ejyhjtd pmy hjhyhmk pqegd`y pqeit`yhej*
Mke+ hj ebd `md+ dspkeqmyhej mji
mppqmhmk |dkk mqd qdepdjdi mji
`ebpkdydi hjyepqeit`yhej|dkk+ mkk|ch`c
jddi ycd jd`dmqx pdqbhy* Idvdkepbdjy
iqhkkhjl h jddidi jey ejkx feq jd| fhdki+
aty mke ye `ejyhjtd mji djcmj`d
pqeit`yhejej
dshyhjl
pqegd`y+
m
ehk
mji
jmytqmk lm pqeit`yhej id`khjd evdq yhbd
fqebdshyhjl|dkk*
11
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
44/136
0*0*1\dkkIqhkkdiaxP`djmqhe
Fqeb 1?=? ycqetlc ycd dji ef 1?==+ =
61
hj ycd iddp|mydq mji ==9 hj ycd cmkke|
|mydq#Fhltqd=0mjiFhltqd=9(* Hf pdqbhy
ye iqhkk `ejyhjtd ye ad htdi my adke|
chyeqh`mk qmyd fqeb 1?=? ye 1?=4+ ycd
jtbadq ef |dkk iqhkkdi qdkmyhvd ye pqd
beqmyeqhtb feqd`my|hkkid`qdmdax99
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
45/136
Fhltqd=97_qegd`ydi@tbtkmyhvdJtbadqefPcmkke|\mydq\dkkIqhkkdi1?=?1?=4
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
?
1??
9??
6??
3??
=???
=1??
=9??
=6??
1?=? 1?== 1?=1 1?=0 1?=9 1?=4
Jtbadqef\dkkp
@tqqdjy _myc@md Ady_eyBeqmyeqhtb@md _qdBeqmyeqhtb@md
19
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
46/136
0*0*0Lkeamk\dkkIqhkkdi
Ej ycd `tqqdjy pmyc+ ycd yeymk jtbadq ef
effceqd|dkkiqhkkdihjycdT*P*hdspd`ydi
yead
9=
pdq`djy
chlcdq
hj
1?=4
ycmj
|m
ddj hj1?=?+ `ebpmqdi ye ycd qdyef ycd
|eqki |cdqd ycd yeymk jtbadq ef |dkk
iqhkkdi hdspd`ydi yead40pdq`djychlcdq
ej mvdqmld+ |hyc Mfqh`m dspd`ydi ye
hj`qdmd 81 pdq`djy mji Petyc Mbdqh`m
dspd`ydiye hj`qdmd36pdq`djy*Hf ycdT*P*
|dqd ye dd mj hj`qdmd hj ycdjtbadq ef
iqhkkhjlpdqbhy
htdi+
ycd
jtbadq
ef|dkk
iqhkkdi hj 1?=4 h dspd`ydi ye hj`qdmd 40
pdq`djyfqeb|cmy|mddj hj1?=?#Ymakd
6(* \chkd ych h ke|dq ycmj ycd 04?
pqegd`ydi|dkk|hychj ycd _qdBeqmyeqhtb
@md+hyhyhkkmhljhfh`mjyhj`qdmd*
Ymakd67T*P*@tqqdjy_myc@mdmjiAdy_eyBeqmyeqhtb@mdmjiQdyef\eqkiJtbadqef
\dkk_qegd`ydiyeadIqhkkdi1?=?1?=4_qegd`ydi#Mkk\mydqIdpyc(=?
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
=?Qdyef\eqkihjvdybdjy`djmqhe`eqqdpejiyeycdT*P*@tqqdjy_myc@md*Ady_eyBeqmyeqhtb
@mdqdmkhwmyhej|etkimkydqycdQdyef\eqkihjvdybdjy `djmqhece|jmaevdaxpqhbmqhkxid`qdmhjl
hjvdybdjy kdvdkmiqhkkhjlqhlmjiidvdkepbdjy m`yhvhyxhj`qdmdihjycdLtkfefBdsh`ehjycdAdy_ey
Beqmyeqhtb@md*
\dkk@etjyFeqd`my 1??3 1??8 1?=? 1?== 1?=1 1?=0 1?=9 1?=41?=?1?=4
Lqe|yc
TPLeB@tqqdjy _myc@md 943 101 111 =34 149 181 0=3 0=9 9=$
TPLeB Ady_eyBeqmyeqhtb@md 943 101 111 =36 13? 184 04= 008 40$
Mfqh`m%Bdihydqqmjdmj 063 03? 99? 413 646 3=6 301 399 81$
Mhm%_m`hfh` 946 939 41? 981 986 41? 481 6?9 =6$
JeqycPdm%Mq`yh` 469 463 606 601 63? 639
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
47/136
0*0*9IqhkkhjlFkddyLtkfefBdsh`emjiQdyefycd\eqki
Ycdid`khjd hj|dkkiqhkkhjlpdqbhymji ycd
tad}tdjyid`khjd hj ycdjtbadqef |dkk
iqhkkdi|hkk
hjdvhymakx
kdmi
ye
mke|dq
jtbadq ef qhl epdqmyhjl hj ycd Ltkf ef
Bdsh`e+ dpd`hmkkx hj iddp |mydq* Iddp
|mydq qhl `mj cmvd qmyd ycmy mvdqmld m
chlc m )4??+??? m imx* Qhl |hkk jey ad
ndpy hj ycd qdlhej hf ycdx mqd tjmakd ye
qdbmhj epdqmyhjl #|hyc tffh`hdjy am`ntp
|eqn `cditkdi(* \chkd m jtbadq ef qhl
cmvd mkqdmix kdfy ycdLtkf ef Bdsh`e ebd
mqdpkmjjhjl ye qdytqj* Hf pdqbhyyhjl yqdji
`ejyhjtd m hj ycd @tqqdjy _myc @md+ ycd
jtbadq ef iddp|mydq qhl hj ycd Ltkf ef
Bdsh`eh
dspd`ydi
ye
ad
13
hj
1?=4+
ejkx
ejd ke|dqycmjycdmvdqmld hj1?=?aty0
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
48/136
\chkd hj ycd qdyef ycd|eqki ycdjtbadq
ef iddp|mydq iqhkkhjl qhl epdqmyhjl h
dspd`ydi ye hj`qdmd ax 44 pdq`djy fqeb
1?=? ye 1?=4+ ycd jtbadq ef iddp|mydq
iqhkkhjlqhlepdqmyhjl hjycdLtkf efBdsh`e
h dspd`ydi ye ad ie|j ax ejd qhl eq m
qdit`yhejef0pdq`djyhj1?=4`ebpmqdiye
1?=?ejycd`tqqdjypmyc*\hycmqdytqjye
chyeqh`mk pdqbhyyhjl kdvdk ce|dvdq+ ycd
jtbadq ef qhl epdqmyhjl hj ycd Ltkf ef
Bdsh`e h dspd`ydi ye hj`qdmd 0=pdq`djy
hjycdAdy _eyBeqmyeqhtb@md*Ycdqdy
efycd|eqki|hkkddmjmvdqmldhj`qdmdef
44pdq`djyhjycdjtbadqefiddp|mydqqhl
|eqnhjl+|hyc ycd kmqldy hj`qdmd `ebhjl
hj Mfqh`m%Bdihydqqmjdmj #81 pdq`djy( mji
PetycMbdqh`m#36pdq`djy(#Ymakd
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
49/136
idvdkepbdjyhjeycdqqdlhejycmy|etkiad
pdjy hjycdTjhydiPymyd #Fhltqd1(* Ltkf
ef Bdsh`e mji lkeamk hjvdybdjy
pqegd`yhejmqd ftqycdqih`tdi hjd`yhej
9Uadke|*
Ymakd37
Iddp|mydq
Iqhkkhjl
Qhl
\ch`c
Cmvd
Kdfy
ycd
LeB
Itd
ye
Iqhkkhjl
Beqmyeqhtb
mji
_dqbhyPke|ie|j7QhlJmbd+IdpmqytqdImyd+Idyhjmyhejmji_qegd`ydiMe`hmydiKey\dkk
_eydjyhmk
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
QhlJmbd IdpmqytqdImyd Idyhjmyhej Key\dkk_eydjyhmk
Ih`evdqdqPphqhy Gtj== Khadqhm 0
Dj`eIP0#M`djhej( Jev== Mjlekm =?
Dj`eIP9#@kmqhej( Bmx== Aqmwhk =1
Dj`e34?0 Bmq
== Fqdj`c
Lthmjm 1
E`dmjDjidmveq Gtk=? Dlxpy =9
Yqmje`dmjBmqhmjm Pdp=? JhldqhmLcmjm =0
Yqmje`dmjMbhqmjyd Gtk== Dlxpy ==
Jeakd_mtkQebmje Jev== Dlxpy =?
E`dmjBejmq`c E`y== Vhdyjmb ==
E`dmj@ejfhidj`d Pdp=? @ejleMjlekm 9
Jeakd@kxidAetiqdmts Gmj== Aqmwhk =0
YeymkKey\dkk =?0
13
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
50/136
0*9_qegd`yhjycdLtkfefBdsh`e
Ax hbpm`yhjl iqhkkhjl qmyd+ ycd iqhkkhjl
beqmyeqhtbm
|dkk
m
pmy
mji
ftytqd
pdqbhyyhjl qmyd cm mji |hkk `ejyhjtd ye
mffd`y mkk pqegd`y idvdkepbdjy m`yhvhyhd
t`cmycdbmjtfm`ytqhjlefcmqi|mqd+ycd
fmaqh`myhejefpkmyfeqbmjiycdhjymkkmyhej
efphpdkhjd* _qegd`ymqdefydj`mydleqhwdi
amdi ej |mydq idpyc+ `ebpmjx yxpd
#bmgeq btkyhjmyhejmk ehk `ebpmjx eq
hjidpdjidjy( mji
|cdycdq
ycd
pqegd`y
cm hye|jpkmyfeqbeq fkemyhjlpqeit`yhej
tjhy#ymjimkejd(+eqtyhkhwdtbahkh`mkmji
tadm fke|khjdyeyqmjpeqycxiqe`mqaej
ye mjdshyhjlpkmyfeqb #tadm yhdam`neq
PPYA(*
0*9*=Iddp\mydq_qegd`yaxP`djmqhe
Hf `tqqdjyyqdji`ejyhjtd+yeymk`tbtkmyhvd
jtbadqefiddp|mydqpqegd`yfqeb1?=?ye
1?=4 hdspd`ydi yead60eqm13pdq`djy
id`khjd fqeb ycd dspd`ydi 3
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
51/136
Fhltqd=67_qegd`ydiIddp|mydq_qegd`yDsd`tyhej1?=?1?=4axP`djmqhe
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
0*9*1Pcmkke|\mydq_qegd`yaxP`djmqhe
Hj ycd @tqqdjy _myc @md+ cmkke| |mydq
pqegd`y
hj
|mydq
idpyc
adke|
4??
fddy+
mqddspd`ydiyeddycd`tbtkmyhvdjtbadq
ef pqegd`y ady|ddj 1?=?1?=4 fmkk 1
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
52/136
Fhltqd=
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
53/136
Ymakd87_qegd`ydi_qegd`yIdkmxaxEpdqmyeqYxpdmji\mydqIdpyc
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
\hycm qdytqj yepqdbeqmyeqhtbchyeqh`mk
pdqbhyyhjl qmyd+ idkmx feq aeyc
hjidpdjidjymji
bmgeq
epdqmyeq
hj
mkk
|mydq idpyc cetki ad hljhfh`mjykx
qdit`di*HjycdAdy_eyBeqmyeqhtb@md+
ycd yeymk jtbadq ef idkmxdi hjidpdjidjy
epdqmyeq pqegd`y h dyhbmydi my ejkx 16
pqegd`y+|hycycdmvdqmldidkmxfeqcmkke|
|mydqpqegd`y fmkkhjlye=*=4xdmqmjiycd
mvdqmldidkmxfeqiddp|mydqpqegd`yfmkkhjl
ye=*30
xdmq*
Feq
bmgeq
epdqmyeq
ycd
jtbadq ef idkmxdi pqegd`y |etki fmkk ye
1?+ |hyc ycd mvdqmld idkmx feq cmkke|
|mydqpqegd`y fmkkhjl ye ?*6 xdmq mji ycd
mvdqmldidkmxfeqiddp|mydqpqegd`yfmkkhjl
ye=*=4xdmq*
0*9*9LkeamkEffceqd_qegd`yIdvdkepbdjy
Ycd T*P* h pqegd`ydi ye dd m id`khjhjl
pdq`djymldef lkeamkpqegd`ydsd`tyhejej
ycd `tqqdjy pmyc |hyc ycd T*P* cmqd ef
ymjimkejd== pqegd`y pqegd`ydi ye id`khjd
ye 8 pdq`djy ej ycd @tqqdjy _myc @md
`ebpmqdi ye ==pdq`djyej ycdAdy _ey
Beqmyeqhtb @md+ mji ycd T*P* cmqd ef
==Pymjimkejdpqegd`ymqdidfhjdimpqegd`y
|hycmjd|pkmyfeqbeqfkemyhjlpqeit`yhej
xydbcey*
tadmyhdam`n=1id`khjhjlye=?pdq`djyej
ycd @tqqdjy _myc @md `ebpmqdi ye dvdj
pdq`djy hj ycd Ady _eyBeqmyeqhtb @md
#YmakdU=?(*
=1PtadmYhdam`nmqdidfhjdimpqegd`y
|hycetyjd|pkmyfeqbeqfkemyhjlpqeit`yhej
xydbtyhkhwhjldshyhjlcey*
_qegd`yYxpdJtbadqef_qegd`y
IdkmxdiMvdqmldIdkmx#Xdmq(
Jtbadqef_qegd`y
IdkmxdiMvdqmldIdkmx#Xdmq(
Pcmkke|\mydqHjidpdjidjy 4= =*9? 1? =*=4
Pcmkke|\mydq
Bmgeq 09 ?*8? =< ?*6?
Pcmkke|\mydqYeymk 34 =*=4 0< ?*33
Iddp|mydqHjidpdjidjy =8 =*84 6 =*30
Iddp|mydqBmgeq 18 =*68 0 =*=4
Iddp|mydqYeymk 93 =*31 8 =*98
Mkk \mydqIdpycYeymk =00 =*98 96 =*=3
_qdBeqmyeqhtb yeAdy_eyBeqmyeqhtb@md_qdBeqmyeqhtb ye@tqqdjy_myc@md
01
8/3/2019 Study: The State of the Offshore Oil and Gas Industry
54/136
Ymakd=?7_qegd`ydiIddp|mydq_qegd`yDsd`tyhej1?=?1?=4\eqki|hidPymjimkejd_qegd`y
mjiPtadmYhdam`n
Petq`d7]tdyEffceqdQdetq`d+ Hj`*1?==
Iddp|mydq_qegd`yDsd`tyhej _qegd`yYxpd 1?=? 1?== 1?=1 1?=0 1?=9 1?=4
Pymjimkejd 0 9 = 6 9 6
PtadmYhdAm`n 6 6 =1 == 3 ==
Yeymk_qegd`y 8 =? =0 =< =1 =