Overview:

Summary

New report “Global Oil and Gas Capital Expenditure Outlook - 2010 National Oil Companies (NOCs) to Drive Investment” provides in-depth analysis and insights into the oil and gas sector capital expenditure outlook for 2010. The report provides a detailed analysis of the current and future capital expenditure position of national oil companies, integrated, and independent oil and gas companies. It details Information and analysis of capital expenditure in oil and gas segments; upstream and Midstream. It also provides a detailed information on capital expenditure across various region; North America, South and Central America, Europe, Middle East & Africa and Asia-Pacific. The report also covers the planned oil and gas projects in upstream, refining, pipeline, LNG and petrochemical projects.

A drop of over $100 per barrel in oil prices late last year to around $32 per barrel prompted many national oil companies, which depend on oil for most of their revenue, to cut spending, delay and cancel oil and gas projects. However, most NOCs have the necessary financial strength to fund their capital-intensive projects and they continued to spend in the present economic downturn. The capital expenditure of oil and gas companies, witnessed a significant decrease in 2009, after the surge in 2007–08. However, in 2010 capex activity is expected to rise, driven mainly by large National Oil Companies (NOCs). The capital expenditure of oil and gas companies, witnessed a significant decrease in 2009, after the surge in 2007–08. However, in 2010 capex activity is expected to rise, driven mainly by large National Oil Companies (NOCs). GlobalData forecasts a 12% growth in the oil and gas sector capital expenditure in 2010 and expects the total capex of the leading listed oil and gas companies to exceed $798 billion, driven mainly by the investments of NOCs. The total capital expenditure by the listed NOCs (for which data is publicly available) is expected to register a 16% growth to around $375 billion in 2010.

Scope

The report provides in-depth analysis and insights into oil and gas sector capital expenditure outlook for 2010. Its scope includes:
- Key findings and analysis of capital expenditure trend in oil and gas sector.
- Historic and forecast capital expenditure information from 2005 to 2010.
- Information and analysis of capital expenditure in oil and gas segments; Upstream and Midstream.
- Detailed information on break-up capital expenditure by regions; North America, Asia-Pacific, South and Central America, Africa and Middle East and Europe.
- Information on capital expenditure by company type; National Oil Companies, Integrated and Independents companies.
- Details the major planned oil and gas projects in upstream, refining, pipeline, (Liquified Natural Gas) LNG and Petrochemical.

Reasons to buy

- Gain a strong understanding of the oil and gas sector spending trend.
- Provides up-to-date information, and in-depth analysis global oil & gas capital expenditure outlook 2010.
- Formulate your strategies based on in-depth analysis of your competitors’ capital expenditure data.
- Identify your position in the global oil and gas industry by understanding the major oil and gas players in the industry.
- Benchmark against operations and competitive strategies of the NOCs and IOCs in the world.
- Devise strategies to safeguard your interests based on insights on the strategies and internationalization of the NOCs and its impact on the global oil and gas industry.

1 Table of contents 3
1.1 List of Tables 4
1.2 List of Figures 5
2 Introduction 6
2.1 Overview 6
3 GlobalData Report Guidance. 7
4 Global Oil and Gas Capital Expenditure to Rise in 2010 8
4.1 Oil & Gas Spending Down 18% in 2009 8
4.2 Global Oil and Gas Sector Spending to Rise 12% in 2010 9
4.3 2010 Capex Growth Driven by the Largest NOCs 11
4.4 Brazil Emerging as Powerhouse 14
4.5 Global Offshore Drilling Spend to 2020 17
4.6 The Unconventional Natural Gas Industry Will Attract Huge Investments In The Next Decade 20
4.7 Revival of Canadian Oil Sands Industry 23
4.7.1 Effect of financial crisis on Canadian Oil Sands Industry 23
4.7.2 Industry costs are declining 25
4.7.3 Price recovery since the lows in 2008 Q4 25
4.7.4 First Signs of the Revival of the Canadian Oil and Gas Industry 28
4.8 Developing New discoveries in more geologically challenging Regions 30
4.9 Corporate M&A Deals Will Drive M&A Investment in 2010 32
5 Capital Expenditure by Oil and Gas Sector 36
5.1 Exploration and Production Sector 36
5.2 Midstream and Downstream Sector 37
6 Capital Expenditure by Region 39
6.1 North America 39
6.2 South and Central America 39
6.3 Europe 40
6.4 Middle East & Africa 41
6.5 Asia-Pacific 42
7 Capital Expenditure by Oil & Gas Companies 44
7.1 National Oil Companies 44
7.2 Integrated Companies 45
7.3 Independent Companies 47
8 Major Planned Oil and Gas Projects in 2010 49
8.1 Upstream Projects 49
8.2 Refining Projects 52
8.3 Pipeline Projects 54
8.4 LNG Projects 55
8.5 Petrochemical Projects 56
8.5.1 Polypropylene Projects 56
8.5.2 Polyethylene Projects 57
9 Factors Leading to Rise in Capital Expenditure in 2010 and Beyond 59
9.1 Crude Oil and Natural Gas Prices And Thereby E&P Capital Expenditure Are Expected To Witness An Upward Trend In 2010 59
9.2 Improving Economic Outlook In 2010 Will Drive The Recovery Of Capital Expenditure 59
10 Appendix 62
10.1 Abbreviations 62
10.2 Methodology 62
10.2.1 Coverage 63
10.2.2 Secondary Research 64
10.2.3 Primary Research 64
10.2.4 Expert Panel Validation 64
10.3 Contact Us 64
10.4 Disclaimer 65

1.1 List of Tables
Table 1: Oil & Gas Spending, $ Billion, 2005-2009 8
Table 2: Oil & Gas Spending, By Region, $ Billion, 2005–2009 9
Table 3: Oil & Gas Spending, By Company Type, $ Billion, 2010 10
Table 4: Oil & Gas Spending and Growth Rate, By Company Type, $ Billion, 2010 11
Table 5: Oil & Gas Spending, By National Oil Companies, $ Billion, 2005–10 12
Table 6: Oil & Gas Spending, By Major National Oil Companies, $ Billion, 2009–10 13
Table 7: Brazil, Major Oil and Gas Discoveries, 2008–09 15
Table 8: Brazil, Principal Development Projects in the various Basins and their Production Capacity, 2009–2010 17
Table 9: Global Offshore Drilling Spend in USD Billion, 2000–20 19
Table 10: North America, Shale Play, Major M&A and Asset Transactions, 2009 21
Table 11: North America, Shale Play, Major M&A and Asset Transactions, 2009 (Cont’d) 22
Table 12: North America, Shale Play, Major M&A and Asset Transactions, 2009 (Cont’d) 23
Table 13: Major Upstream Delayed/Cancelled/Suspended Projects in Canada 24
Table 14: Crude oil and Natural Gas Prices, January 2007–January 2010 27
Table 15: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 28
Table 16: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 (Cont’d) 29
Table 17: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 (Cont’d) 30
Table 18: Number of Oil & Gas Discoveries By Top Countries, 2005–09 31
Table19: Oil & Gas Deals By Industry, Number Of Deals, 2008Q1–2009Q4 33
Table 20: Oil & Gas Deals By Industry, Deal Value, 2008Q1–2009Q4 34
Table 21: Top 10 M&A Deal by Deal Value, 2007-2009 35
Table 22: Exploration and Production (E&P) Sector, Capital Expenditure, $ Billion, 2005–2010 36
Table 23: Midstream and Downstream Sector, Capital Expenditure, $ Billion, 2005–2010 38
Table 24: North America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 39
Table 25: South and Central America, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 40
Table 26: Europe, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 41
Table 27: Middle East & Africa, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 42
Table 28: Asia-Pacific, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 43
Table 29: National Oil Companies, Oil & Gas Capital Expenditure, $ Billion, 2005-2010 44
Table 30: Integrated Companies, Oil & Gas Capital Expenditure, $ Billion, 2005–2010 46
Table 31: Independent Companies, Oil & Gas Capital Expenditure, $ Billion, 2005–2010 47
Table 32: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 50
Table 33: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 (Cont’d) 51
Table 34: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 (Cont’d) 52
Table 35: Global, Top 10 Planned Refineries, 2010–13 54
Table 36: Global Pipeline Industry, Top 10 Planned Pipeline Lengths (Km), Capacities and Capex ($ Million), October 2009 55
Table 37: Global LNG Industry, Top 10 Planned LNG Liquefaction Terminals, 2009–2015 56
Table 38: Global LNG Industry, Top 10 Planned Regasification Terminals, 2009–2015 56
Table 39: Global Planned Polypropylene Projects, 2010 Startup 57
Table 40: Global Planned Polyethylene Projects, 2010 Startup 58
Table 41: Crude Oil and Natural Gas Average Prices, 2008–2012 59

1.2 List of Figures
Figure 1: Oil & Gas Spending, $ Billion, 2005–2009 8
Figure 2: Oil & Gas Spending, By Region, $ Billion, 2005–2009 9
Figure 3: Oil & Gas Spending, By Company Type, $ Billion, 2010 10
Figure 4: Oil & Gas Spending and Growth Rate, By Company Type, $ Billion, 2010 11
Figure 5: Oil & Gas Spending, By National Oil Companies, $ Billion, 2005–10 12
Figure 6: Oil & Gas Spending, By Major National Oil Companies, $ Billion, 2009–10 13
Figure 7: Brazil, Santos Basin, Pre-Salt Cluster, 2009 15
Figure 8: Petrobras, Brazil Major Oil Projects and Production, Mbbl/d, 2008–2013 16
Figure 9: Global Offshore Drilling Spend, By Major Region, $ Billion, 2000–2020 18
Figure 10: Crude oil and Natural Gas Prices, January 2007–January 2010 26
Figure 11: Number of Oil & Gas Discoveries By Top Countries, 2005–2009 31
Figure 12: Oil & Gas Discoveries By Top Operators, 2009 32
Figure 13: Oil & Gas Deals By Industry, Number Of Deals and Deal Value, 2008Q1–2009Q4 33
Figure 14: Exploration and Production (E&P) Sector, Capital Expenditure, $ Billion, 2005–2010 36
Figure 15: Midstream and Downstream Sector, Capital Expenditure, $ Billion, 2005–2010 38
Figure 16: North America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 39
Figure 17: South and Central America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 40
Figure 18: Europe, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 41
Figure 19: Middle East & Africa, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 42
Figure 20: Asia-Pacific, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 43
Figure 21: National Oil Companies, Oil and Gas Capital Expenditure, $ Billion, 2005-2010 44
Figure 22: Integrated Oil Companies, Oil and Gas Capital Expenditure, $ Billion, 2005–2010 46
Figure 23: Independent Companies, Oil and Gas Capital Expenditure, $ Billion, 2005–2010 47
Figure 24: Global Major Planned Exploration and Production Projects 49
Figure 25: Global Major Planned Refining Projects, 2010 53
Figure 26: Global GDP Growth Rate, Q1 2008–Q4 2010 60
Figure 27: The US Crude Oil Stock, Jan 09- Aug 09. 61
Figure 28: GlobalData Methodology 63