Floating Production System Capital Expenditure
Over the past five years capital expenditure on floating production systems has totalled some $20 billion, but over the next five years this is forecast to increase by more than 50% to $32 billion. Annual spend is expected to soar to over $9 billion in 2004. These are amongst the findings of a major new study launched today at Houston’s annual Offshore Technology Conference by energy analysts Douglas-Westwood and industry data specialists Infield Systems. The analysts forecast that West Africa will get the lion’s share of future investment in floaters, with investments of some $11 billion destined for the region. This is nearly twice the spend in the other major regions with the Gulf of Mexico at $6.1 bn., Brazil at $5.1 bn and Asia Pacific at $4.7 bn.
Global Offshore Pipeline Market by Region 1997-2006
The installation of almost 50,000 km of pipeline is forecast over the next five years in the new second edition of The World Offshore Pipelines and Umbilicals Report 2002-2006, published today by leading offshore analysts Douglas-Westwood and offshore data specialists Infield Systems. According to the report’s lead author, Dominic Harbinson of Douglas-Westwood, “This total represents an increase of 44 percent over the previous 5-year period, and will require a global Capex of almost $53.6 billion. Three regions dominate the market, accounting for almost 60 percent of forecast pipeline lengths and over half of forecast global Capex.” The three regions are: North West Europe (with a forecast spend of $11.4 billion), Asia Pacific ($9.5 billion) and the US Gulf of Mexico ($8.2 billion).
Deepwater Development Dollars to Double
Deepwater field development expenditure is forecast to continue its strong growth trend, doubling over the next five years. Launching the latest edition of 'The World Deepwater Report' at the 14th Deep Offshore Technology Conference in New Orleans, John Westwood, managing director of international analysts Douglas-Westwood, said that his firm expected nearly $58 billion to be spent over the next five years in developing deepwater fields. "We expect West Africa to lead the pack attracting 38% of the expenditure, followed by the Gulf of Mexico with 32% and Brazil with 23%," said Westwood. The report is based on analysis of data in the Infield Systems database and their data manager, Dr.
