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Articles for Tag or Tags: Douglas-westwood (dw)

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Despite sustained low oil price, 2016-2020 Subsea Hardware Expenditure to total $94.3 Billion

21.04.2016
Douglas-Westwood (DW) forecasts subsea hardware expenditure to total $94.3 billion (bn) between 2016 and 2020, with a 3% CAGR (Compound Annual Growth Rate) over the forecast period. Expected expenditure growth for subsea hardware has been tempered by the prolonged low oil price, causing a 19% decline in expenditure compared to the 2011-2015 period.

West Africa: The Deepwater Bubble Bursts

21.03.2016
A year ago, Douglas-Westwood (DW) commented that E&P companies within West Africa were focusing reduced Capex plans on high-quality deepwater assets in the region. At the time, Brent crude was rebounding towards a mid-2015 peak of over $60 per barrel. However, in the months since this peak, oil prices plummeted once more, with Brent reaching lows of $26 per barrel in January 2016. DW has since revised its outlook considerably for West Africa’s deepwater prospects. With Brent on the rise last year and operators reiterating their commitment to deepwater assets in the region, DW foresaw the drilling of 483 deepwater development wells over 2016-2021 with deepwater production to continually increase to 4.0 mmboe/d by the end of this period.

Sustained Low Oil Price Sinks Deepwater Projects, 2016-2020 Deepwater Spend to Total $137 Billion

10.03.2016
Douglas-Westwood (DW) forecasts deepwater expenditure to total $137 billion (bn) between 2016 and 2020. This represents a 35% decline compared to DW’s previous edition of the deepwater forecast, covering the 2015-2019 period and issued at the end of March 2015. Report author, Mark Adeosun, commented, “The prolonged low oil price has impacted the deepwater market, with operators considering alternative development options and delaying the sanctioning of new projects. Compared to the same point last year – where we saw 210 potential projects visible for installation in the coming five-year period – we now expect 118 projects to be installed 2016-2020.

Significant upside potential for Iranian oil & gas production

15.12.2015
Douglas-Westwood’s (DW) NEW publication the Iran Oil & Gas Market Forecast 2015-2019 provides detailed analysis of key markets within Iran’s oil & gas sector, including historical and forecast drilling and production, oilfield services expenditure, onshore and offshore rig demand, fixed platforms, onshore pipelines and downstream facilities (refineries, gas processing, petrochemicals and LNG).

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