World Drilling & Well Services Market Forecast 2019-2023 Q3
|鑽井與井管服務全球市場預測：2019-2023年 (第3季) World Drilling & Well Services Market Forecast 2019-2023 Q3|
|出版日期: 2019年11月23日||內容資訊: 英文||
Over the 2019-2023 forecast, Westwood expects the DWS sector to continue to experience a modest improvement, with international markets beginning to see stronger growth rates in the coming years.
Though there is a positive trend overall, significant oversupply remains in many service lines. This, combined with strict capital discipline from operators, has kept pricing down and a return to the highs of 2013-2014 is not anticipated at any point over the forecast period. Focus in the near-term will be the onshore market, where project lead-times to first oil are short and risk is more manageable.
Global drilling and well services expenditure by service line 2014-2023
North America is expected to have the highest regional expenditure, representing 37% of the total. The majority will be US-focused, where onshore drilling activity is expected to increase at a 1.2% CAGR over the forecast. Canada will depend almost entirely on increasing pipeline takeaway capacity, including progress associated with the expansion to the Trans Mountain Pipeline.
China is set for notable growth in onshore drilling activity over the forecast, as the government aims to reduce China's dependence on energy imports. To achieve this, the country is expected to target unconventional plays, which typically requires more intensive drilling and carry higher associated development costs than conventional plays.
Offshore, the emergence of Guyana's oil & gas sector will support spend significantly. Between 2019-2023, Westwood expects over 73 subsea wells to be drilled in the country. Over the same period, a resurgent Brazil will see over 200, high cost, subsea wells drilled, boosting Latin American offshore expenditure to $51bn.
The ‘World Drilling & Well Services Market Forecast’ offers unique insight into over 20 different service lines and is an essential product for business planners and those looking to make informed investment decisions.