The World Offshore Oil & Gas Production & Spend Forecast 2007-2011News // April 24, 2007
Douglas-Westwood has published the latest edition of The World Offshore Oil & Gas Production & Spend Forecast.
The company says offshore oil production has risen by over a third since 1991 and is forecast to continue to rise at about the same rate, reaching 35 million barrels per day in 2011.
However, offshore gas production has more than doubled in the same period, to 867 Bcm in 2006, or 14.9 mm bbls oil equivalent per day. Whatís more, it is forecast to almost double again by 2011.
Such steady increases in oil production and surging gas production will drive industry annual expenditure up from US$219 billion in 2006 to over US$275 billion by 2011.
These forecasts are contained within the new, fully updated edition of the World Offshore Oil & Gas Production and Spend Forecast 2007-2011, published by Douglas-Westwood and Energyfiles.
With offshore OPEX and CAPEX attracting the lionís share of spending on the upstream sector of the industry, the report contains a detailed analysis of these spends, including sector breakdowns for all offshore regions.
For more info see: www.dw-1.com ot tel: +44 (0)1227 780999; fax +44 (0)1227 780880.