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The graph shows the average water depth of subsea production wells over the periods 2005-2007 and 2008-2010. Over this is superimposed the maximum water depth in each region over the same six-year period.
All regions across the world are anticipated to see an increase in the average water depths of subsea production wells - most noticeably India and North Africa. Developments off the east coast of India and projects within Egypt, in conjunction with the fact that these are relatively small subsea markets, means that any deepwater developments have a distorting impact on the market.
The plot of maximum water depths shows that deepwater projects are now occurring around the world in all but three regions. However, looking at average depths, the regions of West Africa, the GoM and Latin America have average depths over 1,000 m. Taking that into account and the volume of installations that are occurring, it is clear why the area has been dubbed the deepwater Golden Triangle.
Maximum water depths show that these areas, especially the GoM, are pushing the frontier in terms of depths. Other areas such as Australia and South East Asia are looking to develop major deepwater plays, but these appear to be more in the nature of frontier developments when the average water depth is considered.
Dr. Roger Knight, Data Manager, Infield Systems