openPR Logo
Press release

Latin America’s Deepwater Spend Forecast to Overtake Africa

02-03-2012 08:01 AM CET | Energy & Environment

Press release from: Douglas Westwood

Douglas-Westwood

Douglas-Westwood

*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 (such as 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 the previous 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 an economic challenge for E&P companies and a significant potential prize for international oilfield service and equipment vendors.

Douglas-Westwood pioneered the original deepwater report in 1998 and the award-winning company has tracked and analysed the deepwater market extensively ever since, developing unparalleled knowledge and experience in the sector. This comprehensive report goes beyond a complete breakdown and forecast for the industry and provides 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 the deepwater ‘golden triangle’ with Africa and the Americas representing 72% of Douglas-Westwood’s forecast spend. Within this group Latin America is likely to experience substantial growth, exceeding Africa’s deepwater expenditure towards the middle of the forecast period, driven by Petrobras’ development of its Campos and Santos (pre-salt) fields off Brazil.”

About the report
It offers an overview of the drivers and indicators for the sector and details the life of a field from discovery to production. Key topics include supply-side constraints, cost inflation and financing issues. Unique and proprietary data forms the basis of historic and forecast deepwater capital expenditure breakdowns by region and component.

About Douglas-Westwood
Douglas-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 business studies – and is built on the company’s unique knowledge of the sector. Douglas-Westwood has clients in more than 70 countries and to date over 750 projects have been completed. Clients range from the oil majors and contractors to equipment manufacturers, 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 are available

Douglas-Westwood
St Andrews House
Station Road East
Canterbury
Kent
CT1 2WD
UK

publications@douglaswestwood.com
+44 1227 780999

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Latin America’s Deepwater Spend Forecast to Overtake Africa here

News-ID: 209484 • Views: 1055

More Releases for Africa

Baby Food in South Africa
Summary Although many consumers have been hard pressed over the last two years or so, as levels of consumer debt have mounted, the market for baby food has so far been fairly resilient, as purchases are predominantly still made by the upper income groups, who have suffered less than others from the difficult economic situation. Research published by Analytics Business Intelligence indicates that in 2011 some 41% of users of baby
14th Africa Independents Forum
The 14th Africa Independents Forum 2016, 25-26th May, gathers together leading independents and corporate players worldwide and from across Africa, both listed and unlisted, large and small, established and new entrants, and provides enhanced exposure to the wider Africa-wide upstream industry in oil, and gas, exploration and development, including issues in crude oil and financial markets, engaging equity financiers, banks, private equity and investors found on the AIM and LSE,
Vizocom Selects iSAT Africa as Its Africa C-band Partner
Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions. Sharjah, UAE, March 02, 2016 -- Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions such as data solutions including C-band VSAT services and
23rd Africa Oil Week
While the African Continent continues to attract a steady stream of oil and gas commitments in its fast-growing oil, gas-LNG and energy industry, our landmark Africa Oil Week 2016 event will again showcase Africa’s Governments, National Oil Companies, Licensing Agencies and corporate players shaping the continent’s future – in exploration and production/development, across new frontiers and established basins; onshore in the Rifts and offshore in the shelf and deep-water, providing
Vizocom Selects iSAT Africa as its Africa C-band Partner
Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions. Sharjah, UAE, February 29, 2016 -- Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions such as data solutions including C-band VSAT services and
Waste Water Recycling in Africa
Welcome to WASP Systems the new home of Biobox E.A. Ltd. WASP Systems incorporates the successful & acclaimed Biobox Enpura™ & Biorock® whilst introducing a range of new & exciting technologies that broaden our product portfolio, enabling us to recommend a variety of solutions that are not only suitable to the environment, but that are easy to operate, service & maintain. WASP Systems has been appointed as Master Distributor & Partner across