PRLog (Press Release)– Jun 18, 2011– Key findings of the report highlight strong recovery in the Russian drilling and oilfield service markets. Douglas-Westwood forecasts drilling, workover and seismic acquisition expenditure approaching $28 billion per annum by 2014. Exploration activity has decreased, due to the economic decline. Reductions in exploratory drilling have fallen in line with estimates detailed in the 2009 edition. However, recovery has begun, with this new report projecting growth in both exploration and development drilling over the forecast period.
As forecast by Douglas-Westwood in previous editions, the divestment of in-house assets continues to shape the competitive landscape and the alliance between indigenous and 'Western' oilfield service providers has evolved in parallel. The report provides estimates of market share for major indigenous and Western players.
Market evolution
In addition to the ongoing drilling and maintenance activity within mature producing regions, the exploration and development of some of Russia's most prospective frontier zones will continue. Since Douglas-Westwood started analysing the industry, Eastern Siberia has grown, aston martin as forecast, into a multi-billion dollar oilfield services market.
Growth is also expected in equipment markets, especially within newbuild rig manufacture. The rate at which rigs will need to be delivered is set to surge, as average well depth/complexity increase and the conditions in which wells are being drilled evolve. The Russian Onshore Oilfield Services Market Report overviews expenditure for newbuild rigs and provides estimates of future rig requirements.
The market model
The report has been produced with the development of a bespoke market model over several years and is unique in providing a systemati alfa romeo c breakdown of the OFS industry by region. It also provides a comprehensive examination of future costing in the drilling and workover sectors and exclusive market forecasts for the next five years.
The report is desi cadillac gned for executive readers and does not assume the reader has a detailed technical knowledge of the subject or the characteristics of the Russian market, its evolution or buying practices.
Each major region (Timan-Pechora, Volga-Urals, Eastern Siberia, Western Siberia) is analysed separately in the report, and forecasting has been done by a multitude of cost centres including drilling, workover, completion, seismic acquisition, directional drilling, domestic rig and electrical submersible pump manufacture.
Table of Contents :
Executive Summary – market drivers, impact of global recession, future macro trends, new technology, summary of the market and conclusions of the report.
Russia in the Context of Global Energy Supply – global energy demand and supply, Russian oil reserves, oil and gas production and Russian production in context.
The Russian Energy Business – including political and economic transitions, state involvement, Russian energy policy, profiles of major hydrocarbon suppliers, the domestic energy landscape auto part , Russian E&P expenditure, in-house providers and the impact of Western OFS providers, entry strategies and technology.
Technical Overview – seismic 2D/3D, formation evaluation, drilling, workovers, ESP and artificial lift.
Market Participants – overview, review by drilling and workover, logging and seismic, rig manufacture and service and ESP Market. Profiles of selected domestic and Western competitors.
Regional Production Overview – Eastern Siberia, Far East and Sakhalin, Timan-Pechora, Volga-Urals and Western Siberia.
Model Assumptions – Russian expenditure and market comparisons, equipment market model, drilling and workover splits, exploration and production wells, active drilling and workover rigs, workover operations and well depths, wellstock and service split, seismic crews and rig manufacture (supply and demand), Russian onshore rig fleet age, rig cost and lead times and pricing dynamics.
Market Forecast – the OFS market split by type: drilling, workover and seismic acquisition, and by region: Timan-Pechora, Volga-Urals, Eastern Siberia, Western Siberia. Components markets: rig and crew, completions, perforation, fishing 1086274749 and milling, bit programme, cementing, logging, fluids, casing, directional drilling, tubing, fracturing, drilling rigs and electrical submersible pumps.
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