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The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Spend and Competitive Landscape
GBI Research, February 2010, Pages: 80
“The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Spend and Competitive Landscape” provides an in-depth analysis of the offshore drilling industry and highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry. The report provides forecasts of the offshore exploratory and development drilling expenditure to 2015. The report provides in-depth analysis of the key trends and challenges in the global drilling industry. The report also discusses the major offshore projects globally and provides an analysis of the competitive scenario in each of the geographies covered. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.
The global offshore drilling market experienced a slowdown in 2009 following the hectic activity witnessed in the previous years. The growth of the offshore drilling market is driven by high demand and the prices of crude oil and natural gas. The increase in the demand for oil and natural gas due to high economic growth during the period from 2004 to 2008 was responsible for the continuous increase of crude oil and natural gas prices until mid 2008. The demand for oil and gas and the prevalent high prices stimulated increased activity in the offshore drilling market. However, since the economic slowdown and the collapse of the oil and gas prices from the record levels of 2008, many of the offshore projects have become uneconomical and have since been delayed or cancelled. Also, offshore drilling expenditure is directly dependent on the exploration and production capital spending of the international oil companies, national oil companies and independent producers. The tight credit situation and an uncertain outlook for the oil and gas global demand have affected the capital expenditure plans of the exploration and production companies. These factors have had a negative effect on the offshore drilling expenditure in 2009. However, the future outlook for offshore drilling is encouraging and the expenditure is expected to steadily increase to 2015.
Scope
- Provides a complete overview of the future prospects of the offshore drilling business.
- Provides forecasts of the offshore drilling expenditure to 2015.
- Includes the exploratory and development drilling expenditure forecasts to 2015
- Analyzes the offshore drilling expenditure in the major regions of the world.
- Forecasts the world market by region and type of activity in terms of expenditure levels.
- Identifies the high growth areas and markets for the future business expansion and market expansion.
- in-depth analysis of the offshore drilling industry, highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry
- Analyzes the strategies of the major offshore drilling contractors such as Transocean Ltd, Noble Corporation, Diamond Offshore, Ensco International plc, Seadrill
- Top lease holders discussed include BP Plc, Anadarko Petroleum Corporation, Hess Corporation,ExxonMobil Corporation,Petroleo Brasileiro S.A., Repsol YPF, S.A
Reasons to buy
- Develop business strategies with the help of specific insights about the offshore drilling industry.
- Identify opportunities and challenges in the global offshore drilling industry.
- Understand the market positioning of the offshore drilling contractors.
- Increase future revenues and profitability with the help of insights on the future opportunities
- Critical success factors in the global offshore drilling industry.
- Benchmark your operations and strategies against the major players in the global offshore drilling industry.
1.1 List of Tables
1.2 List of Figures
2 The Future of the Offshore Drilling Industry to 2015
2.1 Report Guidance
3 Introduction To The Offshore Drilling Industry
3.1 Importance of Offshore Oil and Gas Production and Major Offshore Areas
3.2 Offshore Drilling Industry Structure and the Process of Offshore Drilling
3.3 Types of Rigs and Support Services
3.3.1 Mobile Bottom Supported Rigs
3.3.2 Floating Rigs
3.3.3 Key Technologies Used As Supporting Mechanisms in Floating Rigs
3.3.4 Subsea Production and Processing Systems
4 Key Trends And Challenges In The Offshore Drilling Industry
4.1 Key Drivers of the Offshore Drilling Industry
4.1.1 Growth In Oil And Gas Demand In The Long Term And The Increase In The Offshore Oil And Gas Production are Driving The Growth Of The Offshore Drilling Industry
4.1.2 The Shift in Investment to New and Emerging Offshore Regions such as Asia and Brazil is Driving the Growth of Offshore Drilling on these Regions
4.1.3 Increasing Trend towards Deep and Ultra Deep Water Exploration and Production is Driving the Growth of the Offshore Drilling Industry
4.1.4 Rapid Technology Advances are a Key Driver of the Development of the Offshore Drilling Industry
4.2 Major Challenges in The Offshore Drilling Industry
4.2.1 Global Economic Slowdown and Low Commodity Prices are a Challenge for the Growth of the Offshore Drilling Industry in the Short Term
4.2.2 Decreases in Exploration and Production Capital Expenditure is a Major Challenge for the Offshore Drilling Contractors
4.2.3 Geopolitical Risks and Terrorist Threats Might Have a Major Impact on the Offshore Drilling Activities In Particular Countries
4.2.4 Highly Competitive Drilling Industry with Intense Price Competition in Addition to the Decrease in the Drilling Activity will be a Major Challenge
4.3 Offshore Drilling Units Planned and Under Construction
4.4 Mergers and Acquisitions in the Global Offshore Drilling Industry
5 Global Offshore Drilling Expenditure Forecasts To 2015
5.1 Global Offshore Drilling Expenditure Forecasts To 2015
5.2 Global Exploratory and Development Drilling Expenditure
5.3 Competitive Analysis of the Offshore Drilling Industry, 2009
5.3.1 Competitive Structure
5.3.2 Market Share Analysis of the Global Offshore Drilling Industry, 2009
5.4 Profiles of the Major Offshore Drilling Contractors
5.4.1 Transocean Ltd
5.4.2 Noble Corporation
5.4.3 Diamond Offshore Drilling
5.4.4 Ensco International
5.4.5 Seadrill
6 North America Offshore Drilling Expenditure Forecasts To 2015
6.1 North America Drilling Expenditure Forecasts To 2015
6.2 North America Exploratory Drilling Expenditure
6.3 North America Development Drilling Expenditure
6.4 Major Offshore Oil and Gas Projects In North America
6.5 Exploration and Production Companies’ Offshore Activity in North America
6.5.1 North America, Top Lease Holders In 2009
7 South And Central America Offshore Drilling Expenditure Forecasts To 2015
7.1 South and Central America Drilling Expenditure Forecasts To 2015
7.2 South and Central America Exploratory Drilling Expenditure
7.3 South and Central America Development Drilling Expenditure
7.4 Major Offshore Oil and Gas Projects in South and Central America
7.5 Offshore Activity of the Exploration and Production Companies in South and Central America
7.5.1 South and Central America, Top Lease Holders In 2009
8 Europe Offshore Drilling Expenditure Forecasts To 2015
8.1 Europe Drilling Expenditure Forecasts To 2015
8.2 Europe Exploratory Drilling Expenditure
8.3 Europe Development Drilling Expenditure
8.4 Major Offshore Oil and Gas Projects in Europe
8.5 Offshore Activity of Exploration and Production Companies in Europe
8.5.1 Europe, Top Lease Holders in 2009
9 Middle East And Africa Offshore Drilling Expenditure Forecasts To 2015
9.1 The Middle East and Africa Drilling Expenditure Forecasts to 2015
9.2 The Middle East and Africa Exploratory Drilling Expenditure
9.3 The Middle East and Africa Development Drilling Expenditure
9.4 Major Offshore Oil and Gas Projects in the Middle East and Africa
9.5 Offshore Exploration and Production Activity in the Middle East And Africa
9.5.1 Middle East and Africa, Top Lease Holders in 2009
10 Asia Pacific Offshore Drilling Expenditure Forecasts To 2015
10.1 Asia Pacific Drilling Expenditure Forecasts To 2015
10.2 Asia Pacific Exploratory Drilling Expenditure
10.3 Asia Pacific Development Drilling Expenditure
10.4 Major Offshore Oil and Gas Projects in Asia Pacific
10.5 Offshore Exploration and Production Activity in Asia Pacific
10.5.1 Asia Pacific, Top Lease Holders in 2009
11 Appendix
11.1 Methodology
11.1.1 Coverage
11.1.2 Secondary Research
11.1.3 Primary Research
11.1.4 Expert Panel Validation
11.2 Units of Measure
11.3 Contact Us
11.4 About Research
11.5 Disclaimer
1.1 List of Tables
Table 1: Global, Oil & Gas Spending ($ Bn), 2005-2009
Table 2: Global, Semi-Submersibles Under Construction to 2012
Table 3: Global, Drillships Under Construction to 2012
Table 4: Global, Jackup Rigs Under Construction to 2012
Table 5: Merger & Acquisitions and Asset Transaction Activity in the Offshore Drilling Industry ($ M), 2007 – 2009
Table 6: Global, Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 7: Global, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 8: Global, Offshore Developmental Drilling Expenditure ($ Bn), 2000-2015
Table 9: Global Offshore Drilling Industry, Competitive Analysis, 2009
Table 10: Transocean Ltd., Key Statistics, 2008
Table 11: Noble Corporation, Key Statistics, 2008
Table 12: Diamond Offshore Drilling., Key Statistics, 2008
Table 13: Ensco International. Key Statistics, 2008
Table 14: Seadrill Limited. Key Statistics, 2008
Table 15: North America, Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 16: North America, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 17: North America, Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Table 18: North America, Major Offshore Oil and Gas Projects, 2010-2015
Table 19: North America, Top Offshore Lease Holders, 2009
Table 20: South and Central America Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 21: South and Central America Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 22: South and Central America Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Table 23: South and Central America, Major Offshore Oil and Gas Projects, 2010-2015
Table 24: South and Central America, Top Offshore Lease Holders, 2009
Table 25: Europe Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 26: Europe Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 27: Europe Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Table 28: Europe, Major Offshore Oil and Gas Projects, 2010-2015
Table 29: Europe, Top Offshore Lease Holders, 2009
Table 30: Middle East and Africa Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 31: Middle East and Africa Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 32: Middle East and Africa, Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Table 33: Middle East and Africa, Major Offshore Oil and Gas Projects, 2010-2015
Table 34: Middle East and Africa, Top Offshore Lease Holders, 2009
Table 35: Asia Pacific Offshore Drilling Expenditure ($ Bn), 2000-2015
Table 36: Asia Pacific Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Table 37: Asia Pacific Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Table 38: Major Offshore Oil and Gas Projects in Asia Pacific, 2010-2015
Table 39: Asia Pacific Top Offshore Lease Holders, 2009
1.2 List of Figures
Figure 1: Crude Oil Price, Brent and WTI, Natural Gas Price, Henry Hub, December 2008 – January 2010
Figure 2: Oil & Gas Expenditure ($ Bn), 2005–2009
Figure 3: Merger & Acquisitions and Asset Transaction Activity in the Offshore Drilling Industry ($ M), 2007 – 2009
Figure 4: Global, Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 5: Global, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 6: Global, Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 7: Global Offshore Drilling Industry, Competitive Analysis, 2009
Figure 8: North America, Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 9: North America, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 10: North America, Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 11: North America, Top Offshore Lease Holders, 2009
Figure 12: South and Central America Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 13: South and Central America Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 14: South and Central America Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 15: South and Central America, Top Offshore Lease Holders, 2009
Figure 16: Europe Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 17: Europe Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 18: Europe Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 19: Europe, Top Offshore Lease Holders, 2009
Figure 20: Middle East and Africa Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 21: Middle East and Africa Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 22: Middle East and Africa Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 23: Middle East and Africa, Top Offshore Lease Holders, 2009
Figure 24: Asia Pacific Offshore Drilling Expenditure ($ Bn), 2000-2015
Figure 25: Asia Pacific Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015
Figure 26: Asia Pacific Offshore Development Drilling Expenditure ($ Bn), 2000-2015
Figure 27: Asia Pacific Top Offshore Lease Holders, 2009
Figure 28: GBI Research Methodology, 2010
“The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Expenditure and Competitive Landscape” provides an in-depth analysis of the offshore drilling industry and highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry. The report provides forecasts on the offshore drilling expenditure to 2015. The report includes exploratory and development drilling expenditure forecasts to 2015. The report also provides an in-depth analysis of the key trends and challenges in the global drilling industry. The report also discusses the major offshore projects globally and provides an analysis of the competitive scenario in each of the geographies. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by a team of industry experts.
Global Offshore Drilling Expenditure is Expected to Grow to More Than $490 Billion in the Period from 2009 to 2015
The global offshore drilling expenditure has increased in recent years especially during the period from 2004 to 2008. According to GBI Research’s estimates, approximately $350 billion was spent on offshore drilling from 2000 to 2008. The regions accounting for the major share of the spending were the US Gulf of Mexico (USGOM), West Africa, Brazil and Asia Pacific. The offshore drilling expenditure peaked in 2007- 2008.
The global drilling expenditure is forecast to grow at an annual average growth rate of about 6.6% in the forecast period of 2009 to 2015. The depletion of the reserves in onshore and shallow waters and the advancement in seismic and drilling technologies are driving the increased drilling activities in deepwater offshore regions. This trend is most visible in the offshore areas of the USGOM, Brazil and West Africa. The discovery of deep water and subsalt reserves is expected to drive investments in the sector.
As a result of the increasing demand and the decline of the reserves of crude oil and natural gas, the prices of crude oil and natural gas are expected to continue to rise. However, factors such as decreases in service costs as the offshore regions mature, and advances in technology leading to increased efficiency and a reduction in extraction costs, will combine to reduce the total investments. Nonetheless, the positive factors leading to increases in investments are likely to outweigh the negative factors, thereby significantly increasing the offshore drilling expenditure in the future.
- Transocean Ltd
- Noble Corporation
- Diamond Offshore Drilling
- Ensco International
- Seadrill
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