Welcome!

News Feed Item

Deepwater Activity Statistics - New Discoveries Worldwide Driving Deepwater E&P Activity and Demand for Semisubmersibles and Drillships

DUBLIN, June 18, 2013 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/6xjmgp/deepwater) has announced the addition of the "Deepwater Activity Statistics - New Discoveries Worldwide Driving Deepwater E&P Activity and Demand for Semisubmersibles and Drillships" report to their offering.

     (Logo: http://photos.prnewswire.com/prnh/20130307/600769 )

Drilling Giants Sink to New Depths as Offshore Exploration Evolves

Depleting shallow water reserves and a lack of new shallow water discoveries means that offshore exploration and production activity in deepwater regions is becoming a new fashion, states a new report by energy experts GBI Research.

The new report states that the search for hydrocarbons in more challenging areas has been on the rise, as advances in drilling technologies have led to the discovery of giant deepwater oil and natural gas fields worldwide, prompting ambitious International Oil Companies (IOCs) and National Oil Companies (NOCs) to drill in remote offshore areas in search of fresh fossil fuel reserves.

Until the early 1990s, offshore exploration and drilling in deepwater areas was considered an economically unattractive option, as it is more expensive, more challenging, and more risky than shallow water offshore drilling. However, with the near-complete exploitation of shallow water and onshore resources, and recent advances in drilling technology, such exploration is now feasible and profitable. Offshore rigs such as advanced semisubmersibles are capable of drilling in water depths exceeding 5,000 feet, and some sixth generation enterprise-class drillships even possess water depth capabilities of up to 12,000 feet. This has led to a significant rise in deepwater and ultra-deepwater Exploration and Production (E&P) activity across the globe, and governments worldwide are promoting the industry in hopes of achieving energy self-reliance.

Deepwater Brazil, offshore West Africa, offshore Angola, offshore Australia, the Krishna Godavari deepwater basin of the eastern coast of India, and the US Gulf of Mexico are all proving to be hotbeds in terms of deepwater offshore drilling activity and expenditure. There have also been deepwater discoveries in various regions of Australia and China. Sub-salt reserves of petroleum, found thousands of meters below layers of sand, rocks and salt, have transformed Brazil into one of the highest potential investment acreages on the globe. Tupi Field is the largest discovery in the Americas since 1970, extending from the State of Espírito Santo to the State of Santa with estimated recoverable reserves of 5-8 billion barrels, and singlehandedly increasing Brazil's recoverable reserves of crude oil by 50%.

As a result, deepwater activity is expected to grow substantially during the next few years, and is likely to witness aggressive steps by E&P companies. As oil and gas E&P activity moves into deeper water depths, the market for the services of deepwater drilling contractors and offshore rigs operating in deepwater and ultra-deepwater environments will witness strong growth. Offshore day rates for drillships and semisubmersibles are already steadily rising, and this in turn will drive the construction industry for offshore drilling technologies.

The report provides an in-depth coverage of deepwater activity statistics worldwide and also highlights the various concerns, key trends, along with information and data information on deepwater and ultra-deepwater drilling spend in major deepwater regions worldwide.

For more information visit http://www.researchandmarkets.com/research/6xjmgp/deepwater

Research and Markets
Laura Wood, Senior Manager.
[email protected]
U.S. Fax: +1-646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Oil

SOURCE Research and Markets

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Phil Hombledal, Solution Architect at CollabNet, discussed how customers are able to achieve a level of transparency that e...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Cloud Expo, Inc. has announced today that Andi Mann returns to 'DevOps at Cloud Expo 2017' as Conference Chair The @DevOpsSummit at Cloud Expo will take place on June 6-8, 2017, at the Javits Center in New York City, NY. "DevOps is set to be one of the most profound disruptions to hit IT in decades," said Andi Mann. "It is a natural extension of cloud computing, and I have seen both firsthand and in independent research the fantastic results DevOps delivers. So I am excited to help the great t...
"At ROHA we develop an app called Catcha. It was developed after we spent a year meeting with, talking to, interacting with senior citizens watching them use their smartphones and talking to them about how they use their smartphones so we could get to know their smartphone behavior," explained Dave Woods, Chief Innovation Officer at ROHA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
If you haven’t heard yet, CollabNet just put out some very big news for managing and gaining value from DevOps. We introduced CollabNet DevOps Lifecycle Manager (DLM) — a platform designed exclusively for providing a single pane of glass, dashboard, and traceability views across your DevOps toolchain and processes from planning to operations and that can be traced back to planning and development.
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
SYS-CON Events announced today that Fusion, a leading provider of cloud services, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Fusion, a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, discussed how VPaaS enables you to move fast, creating scalable video experiences that reach your aud...