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New blocks and new rigs explorers crank up deepwater spend

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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,

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Table of contents

  • Executive summary
  • Boom in deepwater drilling enabled by rig supply
    • 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

Tables and charts

This report includes 7 images and tables including:

Images

  • Global conventional E&A expenditure (US$ billion)
  • Announced 2013 vs 2012 E&A spending plans
  • Number of global deepwater wells by well type
  • Cumulative number of newbuild MODUs
  • 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

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