Offshore Drilling Industry In Europe And Former Soviet Union (fsu) To 2015

The Europe and FSU offshore drilling expenditure has increased in recent years, especially during the period from 2004 to 2008. According to GBI Researchs estimates, approximately $100 billion was spent on offshore drilling from 2000 to 2008. The North Sea region accounted for the major share of the spending.

The Europe and FSU offshore drilling expenditure is forecast to grow at an annual average growth rate of about 6% in the forecast period of 2009 to 2015. The depletion of the reserves in onshore and shallow waters and the advancements in seismic and drilling technologies are driving the increased drilling activities in deepwater offshore regions. This trend is most visible in the offshore areas of the Caspian Sea and Arctic region. The discovery of deepwater and subsalt reserves is expected to drive investments in the sector.

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As a result of the increasing demand and the decline of the reserves of crude oil and natural gas, the prices of crude oil and natural gas are expected to continue to rise. Nonetheless, the positive factors leading to increases in investments are likely to outweigh the negative factors, thereby significantly increasing offshore drilling expenditure in the future.

In recent years, there has been an increasing trend towards deep and ultra deep water exploration. With the decline in available resources in onshore areas, there has been a marked shift towards increased offshore exploration. Initially, the offshore exploration was mainly in shallow waters. However, in recent years, with the near complete exploitation of the shallow water resources worldwide, companies have begun drilling deeper in the oceans.

GBI Research, a leading business intelligence provider, has released its latest research, The Offshore Drilling Industry in Europe and FSU to 2015 Increasing Exploration in New Areas Sustaining the Growth. The study, which is an offering from the companys Energy Research Group, provides an in-depth analysis of the offshore drilling market in the Europe and FSU and highlights the various concerns, shifting trends and major players in the region. The report provides forecasts for the offshore drilling industry in the Europe and FSU to 2015. The report also provides segmental forecasts of the offshore drilling market in the Europe and FSU by water depth and highlights the major countries in the region. The report provides in-depth analysis of the key trends and challenges in the offshore drilling market in the region. An analysis of the competitive scenario, data on the offshore wells and drilling expenditure in the region are also provided for each of the market segments. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Researchs team of industry experts.
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