Forcast for Oil & Gas Market
Advertise Here
Trending Topics:
Sunday, June 14, 2015

Ship Equipment
Ship Maintenance
Ship Systems
Worldwide Metric
Freeman Marine
Neptune Group

Home Page
About MarineTalk
Buyer's Guide
World InfoDesk
Discussion Forums
Advisory Board
Advertising Information
Submit Company Listing
Edit Company Listing
Site Map
MarineTalk Site Search:
Featured Companies

UN/ECE - United Nations Economic Commission for Europe
UN/ECE provides a regional forum for governments to develop conventions, norms and standards with the aim of harmonizing action and facilitating exchanges between member States through the elimination of obstacles and the simplification of procedures

Radio Technical Commission for Maritime Services
What do you see when you step onto the bridge of a modern ship or well-equipped boat? Chances are that RTCM standards and RTCM activities had a lot to do with the communication and navigation equipment there.
    USA Virginia

Australian Maritime Safety Authority
The Australian Maritime Safety Authority is the country's federal government safety agency charged with the delivery of safety and other services to the Australian maritime industry.

The Nova Scotia Ocean Initiative
NSOI is a membership organization designed as: 1. A Simple Entry Point To All Nova Scotia Ocean Related Technology. 2. A Catalyst To Partnering And Team Building To Get The Right Connections Quickly. 3. A Business Network

Forcast for Oil & Gas Market


Forcast for Oil & Gas Market

Expenditure in the global deepwater oil & gas market is set to double and could exceed $20 billion per annum by 2004, according to a definitive new study The World Deepwater Report 2000-2004 by analysts Douglas-Westwood and offshore industry data specialists Infield Systems. The report is the authors' second study of the potential offered by the deepwater oil & gas industry.

The forecast growth in deepwater activity has the potential to require drilling and completion of over 1,400 wells, supply of more than 1,000 subsea xmas trees, 300 templates and manifolds, and nearly 10,000 km of subsea control lines, 12,000 km of flowlines and risers, and over 100 floating and fixed platforms. In all, an expenditure of some $76 billion over the next five years is in prospect.
Up to 1960, the maximum water depth from which oil and gas was produced was 60 m; by 1990, this had passed the 600 m mark and by 2004 the authors expect 2,156 m to be achieved. This is the leading edge of technological achievement in an industry where the mean water depths of off-shore fields is currently little more than 100m. But a major deepwater field development is not only demanding of technology, it often requires a step change in approaches to organization of human resources on a global scale together with considerable financial courage to go where no one has commercially ventured before.

Most future activity is sited in the "golden triangle" of Brazil, West Africa and the Gulf of Mexico. The study shows that some of the greatest of these prospects lie off West Africa with projects including the $2.5 billion Girassol field, located on Block 17 off Angola. Over the next five years, the authors expect West African deepwater expenditure to accelerate from about $800 million in 2000, to nearly $5.5 billion in 2004, possibly even eclipsing Brazil to become the world's largest deepwater market. In total, the study identifies 220 deepwater field prospects worldwide with 20 billion barrels oil equivalent reserves.



You may also like:
Trending Technology, World Shipping & Maritime News

Latest Marine News and Technology Articles | Maritime 2015 Buyer's Guide


E-mail:  Contact Us

Copyright 1998 - 2015 MarineTalk
Division of Link Internet Business Solutions
All rights reserved.

The reproduction, retrieval, copying or transmission of this Web site content,
in whole or in part, is not permitted without the express permission of
MarineTalk .