World Market for Deepwater Hydrocarbon Exploitation: Highlighting Enabling Systems
Global exploration and development spending for enabling systems technology and supplies will increase from $11.3 billion in 2001 to $20 billion in 2006, representing an average annual growth rate (AAGR) of 12.1%.
The market for drilling consumables will increase from $3.4 billion in 2001 to $7.7 billion in 2006 and this increase will represent an AAGR of 18%.
North America will witness an increase in spending on enabling systems technology and supplies corresponding to an AAGR of only 0.8% through 2006.
Spending in Europe will recover to grow at an AAGR of 2.9% through 2006 with projects off the east coast of Russia and the North Sea.
Asia will witness an increase in spending corresponding to an AAGR of 7.5%.
Led by increased production in West and North Africa as well as South America,spending in the rest of the world will rise at an AAGR of 10.3%.
The role of deepwater hydrocarbons as the primary energy source globally is growing rapidly. Over the next five yeas, the use of deepwater hydrocarbon resources as the primary feedstock for the manufacture of chemicals and petrochemicals also is expected to make some rapid advances. Recent years saw the emergence of new energy technologies with fuel cells and the resurgence of gas conversion in Fischer-Tropsch processes. Deepwater resource availability, impressive flow rates and the acoustic prediction of reservoirs and hydrocarbons all indicate strong expansion. Natural gas also is replacing other traditional fuels. Deepwater natural gas will offer a unique opportunity for making a significant contribution to the global program to reduce reliance on high carbon content fuels and thus, facilitate compliance with international agreements.
This BCC study quantifies global markets for enabling systems and supplies in deepwater hydrocarbon exploitation and assesses the role of technology in this effort. It further quantifies the market by product types, applications and technologies and relationships between 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.
SCOPE OF STUDY
This report provides coverage of:
- The deepwater industry and the various enabling systems and supplies technologies
- The current global market for enabling systems and supplies technology in deepwater hydrocarbon exploitation from production to supply, support vessels and containers, services and chemicals
- The technology of various enabling systems including deepwater exploration, drilling production, subsea production, processing systems and transportation and lift, respectively, in a global context
- The impact of enabling systems and supplies on global demands for crude oil, natural gas and international trade
- Economic, industrial and environmental benefits of the use of deepwater hydrocarbon resources
- Global investment by region including exploration and development spending
- Major players and industry leaders in enabling system research and development.
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.
All market analysis is stated in constant 2002 U.S. dollars.
Information sources include trade data (national and international), company publicity literature, conference reports, world trade technical journals and interviews with company representatives.
Edward Gobina has over 14 years research and teaching experience in petrochemical reaction engineering, catalysis and membrane technology. He has published extensively with over 70 relevant publications in international scientific journals. He is the author of three major patents on membrane related technologies and the author of four previous reports relating to enhanced technological processing. He is currently the principal investigator of two externally funded research projects involving postdoctoral researchers designing new compact reactor systems for enhancing fluid processing in offshore platforms. Dr. Gobina is member of the European Membrane Society (EMS), the North American Membrane Society (NAMS) and the New York Academy of Sciences (NYAS) respectivelly. He is currently the Director at the Centre for Process Integration and Membrane Technology within the School of Engineering at the Robert Gordon Universty in the U.K.
Following a 14.8% AAGR (average annual growth rate) between 1998 and 2001, the market for basic floating structures for deepwater hydrocarbon exploitation will moderate, rising at an AAGR of 4% to 154 units in 2006.
Most TLPs (tension leg platforms) have been growing in popularity, especially mini-TLPs, and are expected rise at an AAGR of 6.3% in 2006.
FPSO (floating production, offloading) probably has the greatest flexibility of all production systems but will increase at an AAGR of only 2.5% through the period.
Semisubmersible, while offering a number of more flexible characteristics, will only increase at an AAGR of 1.7%.
The spar tower, economical in water depths of 10,000 feet or more without significant modifications, will lead growth, rising at an AAGR of 25% through 2006.
Subsea clusters offer flexibility for phased field development and their use will continue to grow over the next five years.