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
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to impr...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Amazon has gradually rolled out parts of its IoT offerings, but these are just the tip of the iceberg. In addition to optimizing their backend AWS offerings, Amazon is laying the ground work to be a major force in IoT - especially in the connected home and office. In his session at @ThingsExpo, Chris Kocher, founder and managing director of Grey Heron, explained how Amazon is extending its reach to become a major force in IoT by building on its dominant cloud IoT platform, its Dash Button strat...
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the...
SYS-CON Events announced today that Interface Masters Technologies, a leader in Network Visibility and Uptime Solutions, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Interface Masters Technologies is a leading vendor in the network monitoring and high speed networking markets. Based in the heart of Silicon Valley, Interface Masters' expertise lies in Gigabit, 10 Gigabit and 40 Gigabit Eth...
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will w...
As software becomes more and more complex, we, as software developers, have been splitting up our code into smaller and smaller components. This is also true for the environment in which we run our code: going from bare metal, to VMs to the modern-day Cloud Native world of containers, schedulers and microservices. While we have figured out how to run containerized applications in the cloud using schedulers, we've yet to come up with a good solution to bridge the gap between getting your conta...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
DevOps theory promotes a culture of continuous improvement built on collaboration, empowerment, systems thinking, and feedback loops. But how do you collaborate effectively across the traditional silos? How can you make decisions without system-wide visibility? How can you see the whole system when it is spread across teams and locations? How do you close feedback loops across teams and activities delivering complex multi-tier, cloud, container, serverless, and/or API-based services?
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...