New blocks and new rigs explorers crank up deepwater spend Report

Insight 21 March 2013

This report is currently unavailable

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

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,

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

Tables and charts

This report includes 7 images and tables including:

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