Offshore Oil & Gas Industry Projections
 
Advertise Here
Trending Topics:
Sunday, June 14, 2015

Ship Equipment
Ship Maintenance
Unitor
Ship Systems
Bimco
Worldwide Metric
Portvision
Hydroscan
Freeman Marine
Neptune Group

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

ISO - International Organization for Standardization
The International Organization for Standardization (ISO) is a worldwide federation of national standards bodies from some 155 countries, one from each country.
    Switzerland

Offshore Electrical Services LLC
Providing Electrical Engineering, Design and Field Service to the Offshore and Marine Industries.
    USA Texas

International Council of Cruise Lines
The mission of the International Council of Cruise Lines (ICCL) is to participate in the regulatory and policy development process and ensure that all measures adopted provide for a safe, secure and healthy cruise ship environment.
    USA Virginia

Norwegian Shipowners' Association
The Norwegian Shipowners' Association - the NSA - is the employers' organization for oceangoing shipping and companies involved in floating and movable offshore activities.
    Norway

Offshore Oil & Gas Industry Projections

      2/2/2005

Offshore Oil & Gas Industry Projections

Offshore oil & gas production is forecast to grow from 39 million barrels oil equivalent (boe) per day in 2004 to 55 million boe by 2015. From providing around 34% of global oil production and 28% of global gas production in 2004, offshore oil and gas are forecast to reach 39% and 34% respectively by 2015. The full costs to explore, develop and operate offshore oil and gas fields, presently some $111 billion per year, are forecast to total $1,440 billion over the next decade. During this time it is estimated that 200 billion boe will be produced.

These are amongst the results presented in ‘The World Offshore Oil & Gas Forecast’, an important new study of the long-term prospects for the offshore oil & gas industry published by industry analysts Douglas-Westwood. It is projected that the growth in importance of gas, and offshore gas in particular, will drive an unprecedented increase in expenditure on gas infrastructure, including pipelines, LNG plants, gas-to-liquid processing plants, tanker transport, and loading and unloading terminals.

The expenditure forecasts in the report are given in 2004 money assuming continued low inflation. It is also assumed that upward cost pressures from inflation and a higher oil price environment will, as in the past, be roughly counter-balanced by downwards cost pressures through improved technology and better cost cutting strategies. Nevertheless, according to report series editor John Westwood, “over the longer term a sustained increase in oil prices is likely as a global energy supply gap develops and real cost increases materialise which could lead to additional expenditure growth.“


 

About the Company

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





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





MarineTalk

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 .