INTRODUCTION
STUDY GOAL AND OBJECTIVES
Business Communications Company, BCC, Inc., has just completed study on the
world markets for deepwater hydrocarbon exploitation highlighting enabling
systems and supplies. The study quantifies the global market for enabling
systems and supplies in deepwater hydrocarbon exploitation and assesses the role
of technology in the exploitation of deepwater hydrocarbons. It quantifies the
global market for enabling systems and supplies by type of product, application
and technology, and the relationships between the major services, supplies, and
chemicals.
Detail is 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 market pattern for enabling systems and
supplies in deepwater pipelines, floating production systems, and fixed
platforms. The objective of this BCC report is to provide a critical and
detailed evaluation of the current status of the global market for enabling
systems and supplies technology in the deepwater hydrocarbon industry.
REASONS FOR DOING THE STUDY
Deepwater development is the engine driving new energy production in the
world. It has emerged as the world-class oil and gas province and is a major
source of economic growth and energy supply. A push by Western countries to
reduce the world's reliance on Middle East oil reserves has made deepwater
fields more attractive to develop.
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 from 2001 to 2006. The report
discusses the market for enabling systems and supplies, 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 on-stream 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.
New technology in deepwater semisubmersibles and drillships capable of
exploring deepwater areas has drastically reduced the cost of producing a barrel
of crude. For example, in 200 meters of water the price has dropped from between
$13-$15 per barrel to the current level of between $6-$8 per barrel. In
addition, the 1998 to 2001 time frame witnessed continued advances in drilling
technologies such as slender well designs with some industry experts predicting
the commercial arrival of riserless drilling in the foreseeable future.
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 flowrates, which will eventually offset the high
exploration and development costs.
Therefore, the market for enabling systems and supplies, via the exploitation
of deepwater hydrocarbons, will expand massively from 2001 to 2006. This will be
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 assess and quantify the current global market for enabling systems and
supplies technology in deepwater hydrocarbon exploitation.
- To assess the various enabling systems and supplies needed to facilitate
the exploitation of deepwater hydrocarbons in the global context.
- To evaluate and quantify the impact of enabling systems and supplies on
the global demand for crude oil, natural gas, and international trade.
- To evaluate the economic, industrial and environmental benefits of the use
of deepwater hydrocarbon resources.
CONTRIBUTION OF THE STUDY AND FOR WHOM
The role of deepwater hydrocarbons as the primary energy source globally is
growing rapidly. From 2001 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. The three years
between 1998 and 2001 have also witnessed the emergence of new technologies in
energy with fuel cells and the resurgence of gas conversion in Fischer-Tropsch
processes. 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. Therefore deepwater
natural gas will offer the unique opportunity of making a significant
contribution to the global program to reduce reliance on high carbon content
fuels and thus facilitate compliance to international agreements.
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; 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, evaluates and analyses the global market and utilization
for enabling systems and supplies technology in deepwater hydrocarbon
exploitation as well as the near term options for technical developments to meet
the forecasted market. The report is divided into four main sections.
It begins with an overview of the deepwater industry and the various enabling
systems and supplies technologies. The overview describes the importance of
enabling systems and supplies in relation to the deepwater industry including a
brief history and important indications for the industry. The major enabling
systems such as deepwater pipelines and floating production systems are
reviewed.
The report then goes on to analyze the technology including deepwater
exploration, drilling production, subsea production, processing systems and
transportation & lift, respectively. Developments in deepwater technology
including the various approaches and processes have also been assessed. The
report gives extensive detail on emerging and new technology and shows how these
systems and supplies will play a crucial role in reducing marginal field
economics. The enabling systems technology is presented covering patent
evaluation and markets by type of technology-from production to supply, support
vessels and containers, services, and chemicals.
Global investment in enabling technology for deepwater hydrocarbon
exploitation is assessed by region including exploration and development
spending. The corporate plans of major operators are considered, so too are the
various advances in enabling systems technologies.
The report then goes on to detail the major players and trends including the
industry leaders in enabling system research and development, including the
expertise and know-how of the more important companies.
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 for the period 1998 to 2001 and 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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