Oversupply Persists, Europe Keeps on Drilling
Despite lengthy outages in Nigeria and significant US tight oil output reductions, Douglas-Westwood’s (DW) World Drilling and Production Market Forecast (DWD&P) shows a rally of the oversupply in 2017 and 2018. Following this, a lack of production additions is expected to result in a market equilibrium being restored by the end of the decade. Opportunities in the medium-term, however, still exist. Several regions – including Central Asia and the North Sea – show stable drilling activity as operators take advantage of reduced service and equipment costs as well as implementing developments sanctioned in the ‘boom years’ of 2011-2014.
Within the country analysis, major changes have been seen in the forecasts for Iraq, Kazakhstan, Nigeria and China, amongst other major producers. Through to 2022 and utilising a proprietary methodology, DWD&P provides data analysis on 64 key countries, offering near-total historic and forecast volumes of hydrocarbon production and wells drilled, onshore and offshore.
Based on detailed models, the report examines each country in turn and includes a summary of hydrocarbon potential and sensitised production outlook, with associated development drilling requirements segmented into oil & gas for the onshore sector and shallow vs. deep water depths for the offshore sector. Country-by-country exploration and appraisal (E&A) drilling forecasts for both the onshore and offshore sectors are also detailed.
The World Drilling & Production Market Forecast contains:
- Drilling & production data– generated in-house through models exclusive to DW, we assess the prospects of 64 countries and determine historic, current and potential future production and associated development well-drilling requirements: oil & gas, onshore & offshore, exploration and appraisal (E&A) drilling and offshore; deep and shallow water.
- Detailed analysis– summary level overview analysis and market commentary provided at country-level alongside data and forecasts. Identification of sensitised scenarios used to drive drilling forecasts.
- Field-level forecasts– The majority of production forecasts are built up using a field-by-field methodology using DW’s in-house upstream database.
- Full global coverage– the only product on the market able to provide such a level of granularity and confidence on the drilling and production market.
- Long-term outlook– a seven-year forecast from 2016 to 2022 provides a medium-term perspective on development drilling & production opportunities.
- Hindcast– annual data back to 2006 enables examination of each country’s long-term D&P trends.
- Comprehensive experience– gained from 25 years of research. This product has been developed through exposure to industry-leading international M&A engagements including numerous diligence exercises conducted for oilfield services, equipment and drilling organisations worldwide, including those in opaque or less-publicised markets such as China, the Middle East and Russia.
- Dynamic– an ongoing process, DWD&P research is updated continuously, allowing for regular updates and detailed knowledge of each country’s hydrocarbon activity and potential.
- Independent– through a refined methodology, this product does not rely on one source of external data, but uses a considered approach to derive historic, current and future views on each and every one of the 64 countries.
- Highly flexible– we believe that this product provides unrivalled segmentation of data / forecasts, but we are able to provide further detailed segmentation, grouping or analysis – including scenario comparison.
- Contact us for analyst support– through our network of global offices, we can provide further insight through local analysts.
- Quarterly updates– for the highest level of accuracy, a subscription option is available for quarterly reports, but we also offer one-time purchase of the last released version.
