Archives for category: Offshore

Drilling wells offshore always has an element of risk attached, and comes with significant upfront cost. Yet only a few appraisal campaigns end in ‘mega-finds’, and not all wells drilled indicate volumes of oil or gas worthy of stand-alone development. Whilst many such fields were side-lined as ‘non-commercial’ in the boom, since the downturn there has been an increasing push to develop more marginal satellites.

For the full version of this article, please go to Offshore Intelligence Network.

The shipping industry has faced some challenging times since the global financial crisis, including some tough markets and for many a difficult financing environment. However, to keep the wheels of the world economy turning shipping still requires substantial investment, and here we track the total in the post-downturn decade 2009-18 – still a cool one trillion dollars!

For the full version of this article, please go to Shipping Intelligence Network.

Shipping and energy are two central features of the modern globalised economy. Indeed, in 2019 total seaborne trade is projected to exceed 12bn tonnes, while primary energy demand is expected to stand at over 14bn tonnes of oil equivalent: around 1.6 tonnes of seaborne trade and 1.8 toe of energy for everyone on the planet. What is the relationship between these salient features of global economic activity?

For the full version of this article, please go to Shipping Intelligence Network.

 

Offshore exploration has been challenged since the onset of the downturn. There have been some major discoveries in countries such as Guyana and Mauritania, but oil company exploration spending remains significantly lower than pre-downturn outlay, and in 2018 offshore discoveries fell to the lowest level in around 50 years. That being said, might there now be signs of some improvement to come?

For the full version of this article, please go to Offshore Intelligence Network.

Conditions in the offshore sector have been challenging for several years now, and many on the outside might presume that market signals would still be very negative. But key offshore metrics appear more varied, with some parts of the market having seen greater improvements than expected whilst others remained stubbornly weak. Why do the indicators seem a little mixed, and what do they really tell us?

For the full version of this article, please go to Shipping Intelligence Network.

Sale and purchase has long been a central part of the shipping markets, and with 13,800 units reported sold secondhand across the shipping and offshore sectors over the last decade, this clearly remains the case. In fact, 2017 was a record year for S&P volumes with 2018 not too far behind. A range of factors influence secondhand transaction volumes; comparing ‘liquidity’ across sectors highlights some of these.

For the full version of this article, please go to Shipping Intelligence Network.

The offshore sector has seen some impressive gas projects over the last decade, from the development of the vast South Pars/North Field to the start-up of pioneering mega-projects off Australia and the introduction of FLNGs. Accounting for 32% of total gas output, offshore gas is now a key part of the global energy mix. But similar could be said of US shale gas. So how do shale and offshore gas measure up?

For the full version of this article, please go to Offshore Intelligence Network.