May 4, 2018   SOURCE: BusinessWire

Global Deepwater and Ultra Deepwater Exploration & Production Market Analysis, Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com

The "Global Deepwater and Ultra Deepwater Exploration & Production Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The two-year oil price decline, and resulting plunge in E&P activities and downsizing of assets and personnel by oil & gas companies, appears to be over. Furthermore, operators are intensifying the competition in deepwater projects, by advancing several fronts. Operators have redesigned projects to be more capital efficient. Some large projects are being phased, to reduce upfront outlays and provide flexibility in spend, while smaller fields can use nearby infrastructure to be developed via subsea tie-back. Simple subsea tie-backs that are incremental to an existing field are highly competitive with tight oil.

Offshore oil production accounted for about 30% of the total oil production worldwide, over the past decade. Advancements in dynamic positioning equipment, drilling technology, and floating production and drilling units have made previously unreachable prospectively viable. Production has registered significant growth in the areas of deepwater operations and in several cases, have overtaken shallow water production. The majority of deepwater and ultra-deepwater production occurs in the United States, Brazil, Angola, and Norway. The United States and Brazil accounted for around 90% of the global ultra-deepwater production.

The United States and Brazil together account for more than 90% of the global ultra-deepwater production. An increasing quantity of Brazil's production comes from pre-salt resources found under the thick layers of salt, at extreme depths. Brazil increased deep and ultra-deepwater production from 1.3 million bpd in 2005 to 2.2 million bpd, in 2015.

Companies Mentioned

  • ExxonMobil Corp.
  • Royal Dutch Shell PLC
  • Total SA
  • Chevron Corp.
  • BP PLC
  • Transocean Ltd
  • Schlumberger Ltd
  • Halliburton Co.
  • Baker Hughes - a GE Co.
  • Weatherford International PLC

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

11. Disclaimer

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