OIL GAS DRILLING TECHNOLOGY UPDATES: Russian Onshore Oilfield Services Market Report 2010-2014

You can read this email online here.

The Russian Onshore Oilfield Services Market Report 2010-2014

Publication Announcement

Russian Onshore Oilfield Services Market by Region 2005-2014

A unique market forecast

Douglas-Westwood has published the third edition of its Russian Onshore Oilfield Services Market Report – a report which details the multi-billion dollar opportunity in the sector through to 2014.

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, 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 systematic 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 designed 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. Forecasting has been undertaken for many cost centres including drilling, workover, completion, seismic acquisition, directional drilling, domestic rig and electrical submersible pump manufacture.

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, 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 and milling, bit programme, cementing, logging, fluids, casing, directional drilling, tubing, fracturing, drilling rigs and electrical submersible pumps.

Report available as PDF or hardcopy format, click here for further information.

Douglas-Westwood carries out market research, analysis and strategy work for the international energy and maritime industries. Analysis has included the world market potential for all the significant sectors of the offshore energy industry. The report is the latest in an acclaimed series of business studies used by organisations in over 50 countries worldwide. These include the oil majors, investment banks, offshore contractors, agencies and departments of governments. Douglas-Westwood is a leading oil service sector analyst and has completed over 600 projects to date. In the past three years the company has undertaken market due diligence on M&A financial deals totaling more than $15 billion. Within the Russian oil and gas services sector Douglas-Westwood has completed many strategic consulting and research assignments and supported a number of IPOs and financing processes, including Integra and Eurasia Drilling Company (EDC), two of the largest private drilling contractors in Russia.

Established in 1990, Douglas-Westwood is an independent employee-owned company and the leading provider of business research and analysis, strategy and commercial due diligence on the global energy services sectors. We have offices in Canterbury (England) Aberdeen (Scotland) and New York (USA) and to date have completed more than 600 projects for clients in 70 countries.
Further Information

PDF terms and conditions.

energy business analysts douglas-westwood.com