Oil And Gas Demand News

World Energy Reports estimate that more than 100 wind farm installation and maintenance vessels will be required over the next decade. This is due to the proliferation of offshore wind farm projects planned for construction over the next 10 years.Last year, for the first time ever, offshore renewable projects spending was higher than offshore oil and gas spending with an estimated USD 56 billion sanctioned for renewables compared to USD 43 billion for oil and gas.Demand for wind…

Malaysia’s Sapura Energy has entered into a heads of agreement with Austria’s OMV to form a strategic partnership and acquire half of Sapura Upstream for $1.6 billion."Under the agreements, OMV Exploration and Production GmbH (OMV E&P), a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd (SUP), based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1,250 million and debt of USD350 million," said a statement from Sapura Energy Berhad.The integrated oil and gas services company based in Selangor…

The oil and gas demand will peak in 2023 and 2034, respectively, according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050However, new oil fields will be needed until at least the 2040s, while new gas developments will be required beyond 2050. DNV GL’s Outlook predicts that operators will favour production from a greater number of smaller reservoirs with shorter lifespans, lower break-even costs and reduced social impact compared to those currently in operation.“Most easy-to-produce, ‘elephant’ oil and gas fields have been found and are already in production. Smaller reservoirs will likely be harder to explore and develop commercially.

IMA/World Energy Reports has just completed a comprehensiveassessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 -- provides our forecast of orders for floating production systems between 2016 and 2020. Here’s an overview of the findings and conclusions in the report. We see the downturn in market conditions and implosion of Petrobras as a bump in the road. While the outlook is clearly dimmer than last year…

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016 and 2020. Here’s an overview of the findings and conclusions in the report. We see the downturn in market conditions and implosion of Petrobras as a bump in the road. While the outlook is clearly dimmer than last year…

IMA/World Energy Reports has just completed a comprehensive assessment of the five year outlook for the deepwater sector. The new report – the 19th annual floater market forecast prepared by IMA since 1996 – provides our forecast of orders for floating production systems between 2016 and 2020. Here’s an overview of the findings and conclusions in the report. We see the downturn in market conditions and implosion of Petrobras as a bump in the road. While the outlook is clearly dimmer than last year…

What’s New in October 2014? Today 324 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 65% of the existing systems, 78% of systems on order. Production semis, barges, spars and TLPs comprise the balance. The oil/gas production floater inventory is the same as last month. There were no orders for additional production systems in September. Another 30 floating LNG processing systems are in service or on order. Liquefaction floaters account for 17%, regasification floaters 83%.

An EPC contract for a production unit can easily exceed $1 billion – and $3 billion for an FPSO has recently been breached. Overall, this is a $20 to $30 billion annual market. But, as described below, the sector is hitting some headwinds that could impact future business opportunities. 243 floating production projects are in various stages of planning as of beginning May. Of these, 57% involve an FPSO, 16% another type oil/gas production floater, 23% liquefaction or regasification floater and 5% storage/offloading floater.

Regional maritime industry to converge on Sharjah to discuss new opportunities generated by offshore projects. The regional maritime industry is facing a demand surge for multi-purpose vessels on the back of dramatic growth being witnessed by the offshore sector. According to statistics revealed recently, 2013 is set to see massive expansion for the region’s oil and gas industry, with regional players going on a spending spree on offshore projects. Abu Dhabi Marine Operating Company…

New York - Considerable investment is being ploughed into oil and gas enhanced production services in the hope of increasing production efficiency in a market in which global hydrocarbon consumption is only expected to increase, according to market intelligence experts GBI Research. The new report shows that the application of enhanced production techniques, such as the artificial lift technique in upstream production processes, and sand control services, will considerably improve the percentage recovery of oil and gas from onshore and offshore reservoirs. Artificial lift services picked up the pace in 2011 as a result of increasing oil and gas demand, which brought about the need to enhance production above levels achieved from naturally flowing reservoirs.

MarketResearch.com announced the addition of GBI Research's new report "Offshore Drilling Industry in the Americas to 2015 - New Deepwater Discoveries and Stringent Offshore Regulations Affecting the Future Industry Outlook," to their collection of Energy market reports. The report provides forecasts for the offshore drilling industry in the Americas to 2015. The report also provides segmental forecasts of the offshore drilling market by water depth and highlights the major countries in the region. An in-depth analysis of the key trends, challenges, and the competitive scenario is also included. Offshore drilling expenditure in the Americas is expected to increase to 2015 after a dip in the previous two years, according to GBI Research.