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Globalization, deepwater push up field development numbers

Nov. 1, 1997

FPSOs, such as the one shown here producing from Conoco's MacCulloch field in the Southern North Sea, are allowing lower entry costs for field development. [28, 128 bytes] Deepwater makes up 20% of fields under development across the globe. Shown here is Shell's Ram Powell tension leg platform in the US Gulf of Mexico. [25,601 bytes] Operators worldwide currently have 552 fields in development or in some stage of planning for future development. The figure is similar to numbers recorded

Development surges to 552 fields - 20% in deepwater

Marshall DeLuca
Survey Editor

Operators worldwide currently have 552 fields in development or in some stage of planning for future development. The figure is similar to numbers recorded during the early 1980s, and higher than last year's total.

The rising development number is due largely to the stabilization of the price of crude at higher levels than anticipated several years ago and a greater flow of investment capital. But there are other factors:

More operators than ever, including a growing number of independents and national oil companies working abroad, are taking an active role in operations. Operators such as Elf, Statoil, Petrobras, and Agip are expanding their holdings in such markets as the US.

Operators are expanding their deepwater holdings. Deepwater accounts for 111 entries in this year's survey.

Survey numbers

This year's survey includes 236 fixed production platforms, 74 floating production systems, and 170 subsea production systems. Also included are a number of well protector structures, which are typically unmanned minimal facilities, compliant towers, spar platforms, and tension-leg platforms. A majority of the fields are in the planning stage of development (284), followed by construction (177), designing (70), and bidding (23).

The information contained in this survey was derived from Offshore Data Services' copyrighted publication - Offshore Field Development International - which regularly tracks offshore construction projects from design through installation phases. The data was collected under specific criteria and reflects information available at the time. Recent changes may not have been included.