Press Release

Latin America's Deepwater Spend Forecast to Overtake Africa

February 16th, 2012

Global Information Inc. would like to present a new market research report, "World Deepwater Market Forecast 2018-2022" by Douglas-Westwood.

The overall outlook for oil companies in 2012 is positive. According to Steven Kopits, Douglas-Westwood Director, "The longer-term outlook indicates that subsea, predominately deepwater; developments will continue to play a major part in the portfolios of the majors IOCs (such as Total, Shell, BP and Exxon) and some NOCs (such as Petrobras and Statoil)."

The 12th edition of the World Deepwater Market Report forecasts a 90% growth in expenditure, compared with the previous five-year period, with $232 billion to be spent 2012-2016. The outlook for the deepwater business is clearly one of significant long-term opportunity. As deepwater projects becoming increasingly capital-intensive there is an economic challenge for E&P companies and a significant potential prize for international oilfield service and equipment vendors.

Douglas-Westwood pioneered the original deepwater report in 1998 and the award-winning company has tracked and analysed the deepwater market extensively ever since, developing unparalleled knowledge and experience in the sector. This comprehensive report goes beyond a complete breakdown and forecast for the industry and provides unique insight into how changes in the industry, in the short to medium term, will impact market players.

Report author, Lucy Miller, concludes, "Regionally, the focus for development activity will largely remain in the deepwater golden triangle with Africa and the Americas representing 72% of Douglas-Westwoods forecast spend.

Within this group Latin America is likely to experience substantial growth, exceeding Africas deepwater expenditure towards the middle of the forecast period, driven by Petrobras development of its Campos and Santos (pre-salt) fields off Brazil."

Global Information Inc.(GII) - specializing in market research provision for the vertical industries, GII offers expert independent recommendations of publications from hundreds of the globe's leading market research firms.

Product Code : 228276