Key considerations

摘要

With fewer remaining easy-to-access oil fields, the oil industry has moved into new growth avenues such as onshore unconventional hydrocarbons and operations in more remote and deeper water areas offshore. The ongoing development of new hydrocarbon discoveries in different deepwater regions creates significant opportunities for a variety of industry players, and investors are venturing into the exploration and development of opportunities at record water depth levels (now 12,000 feet) and distances from the coast (up to 400 miles). Deepwater discoveries accounted for approximately 50% of the proved and probable hydrocarbon reserves discovered in 2010; whereas in 2005 these discoveries represented less than 10% of worldwide reserves additions. This has necessitated an increase in capital investments for deep-water, growing from $40bn in 2005 up to $70bn in 2010. Furthermore, over the current decade, capex investments are expected to double (from $541 bn in the 2000s to $1,245bn in the 2010s). This will represent around 50% of the overall offshore E&P capital spending.