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INTRODUCTION
STUDY GOAL AND OBJECTIVES
Business Communications Co., Inc., has just completed the study on the world
markets for deepwater hydrocarbon exploitation: highlighting production,
projects, and construction. The study quantifies the global market for deepwater
hydrocarbon exploitation in production, projects and construction and assesses
the role of deepwater hydrocarbons as the primary energy source and as a major
feedstock for the production of high quality clean power and chemicals
respectively. It quantifies the global deepwater projects by reserves, by type
of product, application and operator/contractor and looks at the relationships
between the major deepwater hydrocarbon production enabling systems. The
economics of deepwater hydrocarbon exploitation and its impact on the demand for
crude oil, natural gas, energy and on international trade is also evaluated and
quantified.
Detail is also given to the various technologies involved in exploiting
deepwater hydrocarbon resources including the critical stages of processing and
how these technologies relate to the global deepwater market pattern. The
objective of this BCC report is to provide a critical and detailed evaluation of
the current status of the global market for deepwater hydrocarbon production,
projects and construction. It also assesses the effect of deregulation of the
industry and evaluates how recent breakthroughs in drilling technology have made
deepwater hydrocarbons competitive with on-shore crude oil, coal, nuclear power
and other renewable energy sources.
REASONS FOR DOING THE STUDY
Over the next five years to 2006, Offshore Europe will join the shallow-water
Gulf of Mexico as a mature province, as evidenced by the reserve sizes of new
field prospects falling towards the average experienced in the Gulf. The result
is that the major operators are voting with their feet and investing outside
Europe in new, usually deepwater areas of the world.
As hydrocarbon resources continue to shrink conversely to the rising demand,
deepwater drilling has become increasingly essential to maintain a balance.
Deepwater reserves are the answer to a dwindling supply of oil. The rising price
of oil will enable the advancement of technology over the next five years to
2006. The report discusses the market for enabling systems, technological
improvements, and deepwater activities/projects worldwide.
Deregulation and restructuring of the global hydrocarbons industry in many
countries worldwide has led to the development of new markets for enabling
systems in deepwater hydrocarbon exploitation. These newer markets have
significantly expanded the market for enabling systems. Also, over the past
three years, new environmental legislation has come onstream encouraging the use
of cleaner hydrocarbons such as natural gas. These factors, coupled with the
continued opening up of new deepwater regions worldwide by governments, have
encouraged operators to invest in deepwater hydrocarbon projects.
The deepwater industry has experienced a strong comeback in commodity oil and
gas prices, which has fueled an improving drilling market. At this stage, rig
day rates are approaching- and will perhaps during a short period of time,
exceed replacement cost day rates. In an unsophisticated market scenario,
without discipline and patience, contractors will order new rigs against day
rates for a five-year period.
Technology currently exists for power generation in fuel cells and gas
conversion in Fischer Tropsch synthesis. These are creating possibilities for
monetizing more remote deeper water gas and associated gas produced in marginal
oil fields. Renewed interest in these processes has created huge investments in
the deepwater hydrocarbons industry worldwide. Many oil companies and
governments worldwide continue to invest in deepwater projects because they
often produce impressive flow rates that will eventually offset the high
exploration and development costs.
Therefore, the market for enabling systems to ensure economic exploitation of
deepwater hydrocarbons will expand massively over the next five years to 2006
driven by technological advances in drilling and the fast-improving ability to
carry out better subsurface characterization and prediction which is reducing
the risk for operators. Use of deepwater hydrocarbons will enhance energy
security for the more developed countries in North America and Europe. For the
developing nations such as Angola and Nigeria, it will help boost exports and
generate much needed foreign exchange.
Therefore the main reasons for carrying out the study are:
- To investigate and evaluate the future global use of deepwater hydrocarbon
resources as chemical feedstocks and for primary energy production in the
period 2001-2006.
- To assess the various projects needed to facilitate the exploitation of
deepwater hydrocarbons in the global context.
- To evaluate and quantify the impact of production, projects and
construction on the global demand for crude oil, natural gas, and
international trade.
- To determine the extent of the impact of the deepwater industry on the
petroleum, chemical, agricultural, food, energy, environment and transport
industries.
CONTRIBUTION OF THE STUDY AND FOR WHOM
The role of deepwater hydrocarbons as the primary energy source globally is
growing rapidly. Over the next five-year period through 2006, the use of
deepwater hydrocarbon resources as the primary feedstock for the manufacture of
chemicals and petrochemicals is also expected to make some rapid advances.
Deepwater resource availability, impressive flowrates and the acoustic
prediction of reservoirs and hydrocarbons all indicate strong expansion for
enabling systems. Natural gas is also replacing other traditional fuels in
residential, commercial and transportation end-uses as well.
The study will therefore be useful to project managers, deepwater engineers,
facility/staff engineers, drilling managers, production managers/staff
engineers, development engineers, structural engineers, petroleum engineers,
exploration geologists, deepwater exploration analysts, naval and marine
architects, pipeline engineers, ROV technology specialists, subsea engineers,
business development engineers, marketing managers, company directors, business
professionals, consulting agencies, strategic planners, forecasters, new product
and business developers, business angels, technology entrepreneurs, decision
makers in the chemical, petroleum and energy industries as well as government
agencies, venture capitalists, and those involved in research and development
work worldwide.
SCOPE AND FORMAT
The report assesses and evaluates the global market and utilization for
enabling systems in deepwater hydrocarbon exploitation as well as the near term
options for technical developments to meet the forecasted market. The report is
divided into 5 main sections.
It begins with an overview of the deepwater industry and the offshore and
deepwater drilling market. The overview describes the importance of enabling
systems in relation to the production, projects and construction in the
deepwater industry including a brief history and important indications for the
industry. The Global deepwater drilling market is reviewed including world
primary energy demand by fuel and region.
The government environmental/energy regulation scene is discussed as it
applies to deepwater hydrocarbons exploitation and describes the environmental
regulation changes and agencies involved including industry compliance and
quantification of economic effects.
The report then goes on to analyze the structure of the deepwater hydrocarbon
industry and competitive aspects including the driving forces of the industry,
important strategies for staying competitive and important shifts in the
industry. It considers the market for key enabling systems including floating
production, fixed production, dynamic risers, drilling bits, deepwater
pipelines, subsea trees and tankers respectively. Trade practices of the
industry and the impact of deepwater hydrocarbons on the petroleum and power
industries are discussed. Concentration factors, market dynamics, hydrocarbon
trading and the important shifts in the industry are discussed. The role of
deepwater hydrocarbon exploitation in resource diversification and supply
security is considered, along with cost estimation of deepwater projects and the
various strategies for staying competitive. The financial and economic effects
of fiscal policy on deepwater projects have also been covered in the study.
Company results/earnings and changes are presented. Other aspects covered in
this section include market segmentation/fragmentation, channels of
distribution, pricing economics and purchasing influences.
The report then considers markets for deepwater hydrocarbon exploitation by
deepwater projects including reserves, reserves of fields onstream, products and
applications in exploration, field development, and field operations. Markets by
operator/contractor by region, rig utilization/type, rig construction, location
and production system are quantified with forecast to 2006.
Markets are evaluated by product type, including natural gas, crude oil,
condensates, and methane hydrates, as well as by application, water depth and
development. Enabling systems technology is presented, covering services and
support vessels.
Companies involved in the worldwide deepwater hydrocarbon exploitation
business are profiled with highlights of their major activities in the enabling
systems including the company name, telephone number, fax number and contact
name.
METHODOLOGY
In this report both historic and current data have been used for analyzing
the market for enabling systems deepwater hydrocarbon exploitation. The results
of the calculations presented here are therefore based on three components; a
historic analysis of the global market in the period 1998 to 2001; estimates for
2001 and forecasted market scenario for the 2001 to 2006 time frame. The report
also gives estimates of the market for enabling systems by field size and
development. | 
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