Overview:

The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Spend and Competitive Landscape

Summary

GBI Research has released a study “The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Spend and Competitive Landscape” The study, which is an offering from the company’s Energy Research Group, provides an in-depth analysis of the offshore drilling industry and highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry. The report provides forecasts of the offshore exploratory and development drilling expenditure to 2015. The report provides in-depth analysis of the key trends and challenges in the global drilling industry. The report also discusses the major offshore projects globally and provides an analysis of the competitive scenario in each of the geographies covered. The report is built using the data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

The global offshore drilling market experienced a slowdown in 2009 following the hectic activity witnessed in the previous years. The growth of the offshore drilling market is driven by high demand and the prices of crude oil and natural gas. The increase in the demand for oil and natural gas due to high economic growth during the period from 2004 to 2008 was responsible for the continuous increase of crude oil and natural gas prices until mid 2008. The demand for oil and gas and the prevalent high prices stimulated increased activity in the offshore drilling market. However, since the economic slowdown and the collapse of the oil and gas prices from the record levels of 2008, many of the offshore projects have become uneconomical and have since been delayed or cancelled. Also, offshore drilling expenditure is directly dependent on the exploration and production capital spending of the international oil companies, national oil companies and independent producers. The tight credit situation and an uncertain outlook for the oil and gas global demand have affected the capital expenditure plans of the exploration and production companies. These factors have had a negative effect on the offshore drilling expenditure in 2009. However, the future outlook for offshore drilling is encouraging and the expenditure is expected to steadily increase to 2015.

Scope

- Provides a complete overview of the future prospects of the offshore drilling business.
- Provides forecasts of the offshore drilling expenditure to 2015.
- Includes the exploratory and development drilling expenditure forecasts to 2015
- Analyzes the offshore drilling expenditure in the major regions of the world.
- Forecasts the world market by region and type of activity in terms of expenditure levels.
- Identifies the high growth areas and markets for the future business expansion and market expansion.
- in-depth analysis of the offshore drilling industry, highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry
- Analyzes the strategies of the major offshore drilling contractors such as Transocean Ltd, Noble Corporation, Diamond Offshore, Ensco International plc, Seadrill
- Top lease holders discussed include BP Plc, Anadarko Petroleum Corporation, Hess Corporation,ExxonMobil Corporation,Petroleo Brasileiro S.A., Repsol YPF, S.A

Reasons to buy

- Develop business strategies with the help of specific insights about the offshore drilling industry.
- Identify opportunities and challenges in the global offshore drilling industry.
- Understand the market positioning of the offshore drilling contractors.
- Increase future revenues and profitability with the help of insights on the future opportunities
- Critical success factors in the global offshore drilling industry.
- Benchmark your operations and strategies against the major players in the global offshore drilling industry.

1 Table of Contents
1 Table of Contents 6
1.1 List of Tables 8
1.2 List of Figures 9
2 The Future of the Offshore Drilling Industry to 2015 10
2.1 Report Guidance 10
3 Introduction To The Offshore Drilling Industry 12
3.1 Importance of Offshore Oil and Gas Production and Major Offshore Areas 13
3.2 Offshore Drilling Industry Structure and the Process of Offshore Drilling 14
3.3 Types of Rigs and Support Services 14
3.3.1 Mobile Bottom Supported Rigs 15
3.3.2 Floating Rigs 15
3.3.3 Key Technologies Used As Supporting Mechanisms in Floating Rigs 15
3.3.4 Subsea Production and Processing Systems 16
4 Key Trends And Challenges In The Offshore Drilling Industry 17
4.1 Key Drivers of the Offshore Drilling Industry 17
4.1.1 Growth In Oil And Gas Demand In The Long Term And The Increase In The Offshore Oil And Gas Production are Driving The Growth Of The Offshore Drilling Industry 17
4.1.2 The Shift in Investment to New and Emerging Offshore Regions such as Asia and Brazil is Driving the Growth of Offshore Drilling on these Regions 17
4.1.3 Increasing Trend towards Deep and Ultra Deep Water Exploration and Production is Driving the Growth of the Offshore Drilling Industry 17
4.1.4 Rapid Technology Advances are a Key Driver of the Development of the Offshore Drilling Industry 18
4.2 Major Challenges in The Offshore Drilling Industry 19
4.2.1 Global Economic Slowdown and Low Commodity Prices are a Challenge for the Growth of the Offshore Drilling Industry in the Short Term 19
4.2.2 Decreases in Exploration and Production Capital Expenditure is a Major Challenge for the Offshore Drilling Contractors 20
4.2.3 Geopolitical Risks and Terrorist Threats Might Have a Major Impact on the Offshore Drilling Activities In Particular Countries 21
4.2.4 Highly Competitive Drilling Industry with Intense Price Competition in Addition to the Decrease in the Drilling Activity will be a Major Challenge 22
4.3 Offshore Drilling Units Planned and Under Construction 22
4.4 Mergers and Acquisitions in the Global Offshore Drilling Industry 27
5 Global Offshore Drilling Expenditure Forecasts To 2015 29
5.1 Global Offshore Drilling Expenditure Forecasts To 2015 29
5.2 Global Exploratory and Development Drilling Expenditure 31
5.3 Competitive Analysis of the Offshore Drilling Industry, 2009 34
5.3.1 Competitive Structure 34
5.3.2 Market Share Analysis of the Global Offshore Drilling Industry, 2009 34
5.4 Profiles of the Major Offshore Drilling Contractors 35
5.4.1 Transocean Ltd. 35
5.4.2 Noble Corporation 36
5.4.3 Diamond Offshore Drilling 37
5.4.4 Ensco International 37
5.4.5 Seadrill 38
6 North America Offshore Drilling Expenditure Forecasts To 2015 40
6.1 North America Drilling Expenditure Forecasts To 2015 40
6.2 North America Exploratory Drilling Expenditure 41
6.3 North America Development Drilling Expenditure 42
6.4 Major Offshore Oil and Gas Projects In North America 44
6.5 Exploration and Production Companies’ Offshore Activity in North America 44
6.5.1 North America, Top Lease Holders In 2009 44
7 South And Central America Offshore Drilling Expenditure Forecasts To 2015 46
7.1 South and Central America Drilling Expenditure Forecasts To 2015 46
7.2 South and Central America Exploratory Drilling Expenditure 47
7.3 South and Central America Development Drilling Expenditure 49
7.4 Major Offshore Oil and Gas Projects in South and Central America 50
7.5 Offshore Activity of the Exploration and Production Companies in South and Central    America 51
7.5.1 South and Central America, Top Lease Holders In 2009 51
8 Europe Offshore Drilling Expenditure Forecasts To 2015 54
8.1 Europe Drilling Expenditure Forecasts To 2015 54
8.2 Europe Exploratory Drilling Expenditure 55
8.3 Europe Development Drilling Expenditure 57
8.4 Major Offshore Oil and Gas Projects in Europe 58
8.5 Offshore Activity of Exploration and Production Companies in Europe 59
8.5.1 Europe, Top Lease Holders in 2009 59
9 Middle East And Africa Offshore Drilling Expenditure Forecasts To 2015 62
9.1 The Middle East and Africa Drilling Expenditure Forecasts to 2015 62
9.2 The Middle East and Africa Exploratory Drilling Expenditure 63
9.3 The Middle East and Africa Development Drilling Expenditure 65
9.4 Major Offshore Oil and Gas Projects in the Middle East and Africa 66
9.5 Offshore Exploration and Production Activity in the Middle East And Africa 68
9.5.1 Middle East and Africa, Top Lease Holders in 2009 68
10 Asia Pacific Offshore Drilling Expenditure Forecasts To 2015 70
10.1 Asia Pacific Drilling Expenditure Forecasts To 2015 70
10.2 Asia Pacific Exploratory Drilling Expenditure 72
10.3 Asia Pacific Development Drilling Expenditure 73
10.4 Major Offshore Oil and Gas Projects in Asia Pacific 74
10.5 Offshore Exploration and Production Activity in Asia Pacific 75
10.5.1 Asia Pacific, Top Lease Holders in 2009 75
11 Appendix 78
11.1 Methodology 78
11.1.1 Coverage 78
11.1.2 Secondary Research 79
11.1.3 Primary Research 79
11.1.4 Expert Panel Validation 79
11.2 Units of Measure 79
11.3 Contact Us 80
11.4 About GBI Research 80
11.5 Disclaimer 80

List of Tables
Table 1: Global, Oil & Gas Spending ($ Bn), 2005-2009 21
Table 2: Global, Semi-Submersibles Under Construction to 2012 23
Table 3: Global, Drillships Under Construction to 2012 24
Table 4: Global, Jackup Rigs Under Construction to 2012 26
Table 5: Merger & Acquisitions and Asset Transaction Activity in the Offshore Drilling Industry
($ M), 2007 – 2009 28
Table 6: Global, Offshore Drilling Expenditure ($ Bn), 2000-2015 30
Table 7: Global, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 32
Table 8: Global, Offshore Developmental Drilling Expenditure ($ Bn), 2000-2015 33
Table 9: Global Offshore Drilling Industry, Competitive Analysis, 2009 35
Table 10: Transocean Ltd., Key Statistics, 2008 36
Table 11: Noble Corporation, Key Statistics, 2008 37
Table 12: Diamond Offshore Drilling., Key Statistics, 2008 37
Table 13: Ensco International. Key Statistics, 2008 38
Table 14: Seadrill Limited. Key Statistics, 2008 38
Table 15: North America, Offshore Drilling Expenditure ($ Bn), 2000-2015 41
Table 16: North America, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 42
Table 17: North America, Offshore Development Drilling Expenditure ($ Bn), 2000-2015 43
Table 18: North America, Major Offshore Oil and Gas Projects, 2010-2015 44
Table 19: North America, Top Offshore Lease Holders, 2009 45
Table 20: South and Central America Offshore Drilling Expenditure ($ Bn), 2000-2015 47
Table 21: South and Central America Offshore Exploratory Drilling Expenditure ($ Bn),
2000-2015 48
Table 22: South and Central America Offshore Development Drilling Expenditure ($ Bn),
2000-2015 50
Table 23: South and Central America, Major Offshore Oil and Gas Projects, 2010-2015 51
Table 24: South and Central America, Top Offshore Lease Holders, 2009 53
Table 25: Europe Offshore Drilling Expenditure ($ Bn), 2000-2015 55
Table 26: Europe Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 56
Table 27: Europe Offshore Development Drilling Expenditure ($ Bn), 2000-2015 58
Table 28: Europe, Major Offshore Oil and Gas Projects, 2010-2015 59
Table 29: Europe, Top Offshore Lease Holders, 2009 61
Table 30: Middle East and Africa Offshore Drilling Expenditure ($ Bn), 2000-2015 63
Table 31: Middle East and Africa Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 64
Table 32: Middle East and Africa, Offshore Development Drilling Expenditure ($ Bn), 2000-2015    66
Table 33: Middle East and Africa, Major Offshore Oil and Gas Projects, 2010-2015 67
Table 34: Middle East and Africa, Top Offshore Lease Holders, 2009 69
Table 35: Asia Pacific Offshore Drilling Expenditure ($ Bn), 2000-2015 71
Table 36: Asia Pacific Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 73
Table 37: Asia Pacific Offshore Development Drilling Expenditure ($ Bn), 2000-2015 74
Table 38: Major Offshore Oil and Gas Projects in Asia Pacific, 2010-2015 75
Table 39: Asia Pacific Top Offshore Lease Holders, 2009 77

List of Figures
Figure 1:    Crude Oil Price, Brent and WTI, Natural Gas Price, Henry Hub, December 2008 – January 2010 19
Figure 2:   Oil & Gas Expenditure ($ Bn), 2005–2009 21
Figure 3:  Merger & Acquisitions and Asset Transaction Activity in the Offshore Drilling Industry ($ M), 2007 – 2009 28
Figure 4:       Global, Offshore Drilling Expenditure ($ Bn), 2000-2015 30
Figure 5:       Global, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 32
Figure 6:       Global, Offshore Development Drilling Expenditure ($ Bn), 2000-2015 33
Figure 7:       Global Offshore Drilling Industry, Competitive Analysis, 2009 35
Figure 8:       North America, Offshore Drilling Expenditure ($ Bn), 2000-2015 40
Figure 9:       North America, Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 42
Figure 10:     North America, Offshore Development Drilling Expenditure ($ Bn), 2000-2015 43
Figure 11:     North America, Top Offshore Lease Holders, 2009 45
Figure 12:     South and Central America Offshore Drilling Expenditure ($ Bn), 2000-2015 46
Figure 13:  South and Central America Offshore Exploratory Drilling Expenditure ($ Bn),
2000-2015 48
Figure 14:  South and Central America Offshore Development Drilling Expenditure ($ Bn),
2000-2015 49
Figure 15:     South and Central America, Top Offshore Lease Holders, 2009 52
Figure 16:     Europe Offshore Drilling Expenditure ($ Bn), 2000-2015 54
Figure 17:     Europe Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 56
Figure 18:     Europe Offshore Development Drilling Expenditure ($ Bn), 2000-2015 57
Figure 19:     Europe, Top Offshore Lease Holders, 2009 60
Figure 20:     Middle East and Africa Offshore Drilling Expenditure ($ Bn), 2000-2015 62
Figure 21:     Middle East and Africa Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 64
Figure 22:  Middle East and Africa Offshore Development Drilling Expenditure ($ Bn), 2000-2015    65
Figure 23:     Middle East and Africa, Top Offshore Lease Holders, 2009 68
Figure 24:     Asia Pacific Offshore Drilling Expenditure ($ Bn), 2000-2015 71
Figure 25:     Asia Pacific Offshore Exploratory Drilling Expenditure ($ Bn), 2000-2015 72
Figure 26:     Asia Pacific Offshore Development Drilling Expenditure ($ Bn), 2000-2015 74
Figure 27:     Asia Pacific Top Offshore Lease Holders, 2009 76
Figure 28:     GBI Research Methodology, 2010 78