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This month Infield Systems Ltd looks at the subsea market in Latin America. Taking data from Infield’s Offshore Energy Database this diagram shows the number of subsea wells to be brought on-stream over the period 2002 to 2010. As way of comparison, it also includes the number of new platforms associated with these subsea developments.
Looking at subsea well numbers, a peak is expected in 2008, with over 90 subsea wells coming on-stream. Most of these are expected to be in Brazil, particularly in deep and ultra-deep waters. Brazil, will continue to be an important subsea area beyond 2010. Elsewhere in Latin America, expect a few wells and associated platforms in Mexico and Venezuela. as those countries step out into deeper waters.
Major projects that have achieved first production over the past few years include, among others, the Petrobras operated Barracuda P43 platform that was installed in 2004 and the Caratinga P48 FPSO. This year, Albacora Leste P50, Golfinho, and Caipixaba are joining them. The Roncador P52 (2007) and Marlim South P51 (2007) facilities are expected to see over 30 subsea wells brought on-stream.
The variety of operators in these areas is increasing. Chevron is expected to start-up Frade in 2008 and Shell will begin Sugarloaf in the last quarter of 2009. In shallow water, Devon’s Polvo development will probably include a future subsea element.
The number of platforms, and their relative sizes, show that Latin America will remain a strategically important areas for many years to come with a wide variety of projects.
-Dr. Roger Knight, Database Manager; Howard Wright, Senior Analyst
