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7 Pages

New blocks and new rigs explorers crank up deepwater spend

New blocks and new rigs explorers crank up deepwater spend

Report summary

Investment in conventional exploration will increase by US$8 billion, to around US$93 billion in 2013. This is a continuation of a trend that started in 2005, and which will be maintained for at least the next three years, as new high-specification units are added to the deepwater rig count. As a result, we expect that: • Constraints on deepwater drilling will ease and the global level of exploration spend will rise, possibly by up to 10% per year • Companies will increasingly,

What's included?

This report includes 2 file(s)

  • New blocks and new rigs explorers crank up deepwater spend PDF - 547.74 KB 7 Pages, 0 Tables, 7 Figures
  • New blocks and new rigs explorers crank up deepwater spend.xls XLS - 107.00 KB


This Oil and Gas Exploration Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie provides accurate and in-depth analysis to help you navigate the ever-changing challenges of oil and gas exploration so you can make key commercial decisions.

  • Executive summary
  • Boom in deepwater drilling enabled by rig supply
  • Huge growth in active frontier acreage
    • Brazil's Round 11 - world-class potential in the Equatorial Margin
    • Suriname's Guyana Basin - Equatorial Margin oil
    • Myanmar Offshore - giant gas for regional markets
    • A first for Lebanon - potential for LNG-sized gas
  • New rigs and many opportunities

In this report there are 7 tables or charts, including:

  • Executive summary
    • Global conventional E&A expenditure (US$ billion)
    • Announced 2013 vs 2012 E&A spending plans
  • Boom in deepwater drilling enabled by rig supply
    • Number of global deepwater wells by well type
    • Cumulative number of newbuild MODUs
  • Huge growth in active frontier acreage
    • Offshore frontier acreage licensed since 2009 compared to deepwater Gulf of Mexico licensed acreage
    • 2013 frontier licensing rounds and key drilling
    • Equatorial Margin acreage offered in Brazil's Round 11
  • New rigs and many opportunities
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