Global Offshore and Subsea Prospects
18 May 2006 London Evening Meeting
Chairman Ian Ball, Subsea Domain Ltd
Sponsored by Subsea UK
Overview
Continuing pressure on resources and political uncertainties has seen oil and gas process reach record levels for recent times. John Westwood's presentation draws on the experience of Douglas-Westwood Ltd using recent studies to look at the long-term prospects for the oil and gas industry, particularly the offshore sector. It discusses what has changed over the last year and presents the latest views on the future availability of oil and gas before moving on to forecasts of future oil and gas production, drilling, CAPEX and OPEX for the offshore sector. Areas of focus include deep water and the strong growth in operational expenditure and the considerable challenges ahead for offshore industry resources, both human and capital.
The presentation also considers the prospect for the emerging offshore renewable energy, both windpower and wave and tidal current systems.
Speaker John Westwood spent 12 years in the subsea business and the past 20 years as an industry analyst. Douglas-Westwood works for investment banks worldwide and is noted for forecasting the present high oil price.
Adding a specifically subsea perspective was Ian Ball, recently retired from Shell after a long and distinguished career in subsea engineering, which included many innovative projects worldwide.
As well as the main speakers, other sector analysts from Douglas-Westwood Ltd were available to answer questions on specific sectors.
The intention was to include what some might consider slightly contentious views, which triggered some lively debates.
Presentations
Global Subsea
Markets: Joining Up the Dots
Ian Ball, Subsea Domain Ltd
John Westwood, Douglas-Westwood Associates