Global Offshore Prospects

 

20 April 2005 London Evening Meeting

Chairman Ian Gallett, Executive Secretary, SUT

Sponsored by Douglas-Westwood

 

Report by Ian Gallett

 

Presentations

Offshore Prospects: A Long-Term View

John Westwood and Owen Williams of Douglas Westwood Associates
Dr Michael Smith of Energyfiles

The past year has seen a period of considerable change for the industry with oil & gas prices reaching new highs—but what will the future offer? Drawn from new studies published by DWL and the Energyfiles information system this presentation focuses on the long-term prospects for the oil & gas industry, discussing what has changed in the past year and the latest views on the future availability of oil & gas, before moving on to forecasts of future CAPEX and OPEX for the offshore sector. Areas of focus include deepwater and the strong growth in operational expenditure. Some specific sectors offering long-term growth prospects such as floating production, subsea processing and LNG are examined. Finally, the new industry of offshore renewable energy, which is entering a period of high growth, is considered.