Offshore Oil and Gas in Australia - Production, Drilling, Rig Activity and Expenditure

Synopsis
Key historical and forecast data for the offshore oil and gas industry in Australia for the following indicators: production, drilling, rig activity and operating and capital expenditure data.

Introduction
The report looks at the offshore oil and gas activities in Australia. The report details the main upstream indicators of activity from drilling activity, expenditure through to production. Our data goes back to 2000 for most categories and forward to 2030 for production. It gives analysts and investors a concise guide to this important industry.

Scope
• Identify the opportunities in the Australian offshore oil and gas industry by analyzing drilling activity and production from 2010 onwards
• Develop investment strategies through a review of key suppliers of upstream supplies and services
• Identify M&A targets by analyzing offshore production data (value, volume and share) on a company-by-company basis
• Analyze and identify key rigs across Australia by comparing rigs across 26 parameters

Highlights
• Oil and gas production in Australia declined at a CAGR of 0.2% over the 2000-09 period. This is expected to grow at a CAGR of 5.3% over the 2010-30 period.
• Capital Expenditure (Capex) accounted for a 68.5% share of the total offshore expenditure in 2009 in Australia, while Operation Expenditure (Opex) accounted for the remaining 31.5% share.

Reasons to purchase
• Which countries will see the fastest growth in offshore oil and gas activity?
• Which companies are the most active in the offshore oil and gas sector?
• How much expenditure will be incurred both as operational and capital expenditure?
• How are oil and gas production trends evolving from 2000 to 2030?
• Where will drilling activity be greatest?
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TABLE OF CONTENTS
Introduction 2
Summary 2
Market definition 3
Australian Offshore Oil and Gas Production Overview 15
Offshore production to 2030 15
Offshore cumulative production to 2030 19
Offshore remaining production to 2030 23
Australian Offshore Production Wells 27
Total production wells (oil & gas) overview 27
Offshore production wells (oil & gas) 30
Australian Offshore Drilling 32
Offshore drilling of wells to 2015 32
Offshore well drilling split by exploratory and development to 2015 34
Offshore exploratory well drilling to 2015 36
Offshore exploratory well drilling in Australia, split by exploration and appraisal to 2015 38
Offshore development well drilling to 2015 40
Offshore development well drilling in Australia, split by surface and sub-sea development to 2015 42
Australian Offshore Expenditure 44
Capex and Opex to 2015 44
Australian Offshore Rig Activity 48
Atwood Eagle, Songa Venus, Nanhai VI, Ocean America, Ocean Epoch and Ocean Patriot 48
Stena Clyde, Pool 453, Goodwyn A, North Rankin A, West Atlas, ENSCO 109 and Maersk Discoverer 50
Australian Equity Stakes 52
Companies ranked by estimated oil production offshore in 2010 52
Companies ranked by estimated natural gas production offshore in 2010 57
Companies ranked by estimated oil & natural gas production offshore in 2010 62
Top 10 companies ranked by estimated oil production offshore in 2010 67
Top 10 companies ranked by estimated natural gas production offshore in 2010 69
Top 10 companies ranked by estimated oil & natural gas production offshore in 2010 71
Top 5 companies ranked by estimated oil production offshore in 2010 73
Top 5 companies ranked by estimated natural gas production offshore in 2010 75
Top 5 companies ranked by estimated oil & natural gas production offshore in 2010 77
Companies and estimated oil production per year 79
Companies and estimated natural gas production per year 82
Appendix 85
Research methodology 85
Global oil & gas analyzer overview 85
Overview of reserves 85
Overview of drilling activity 85
How producing wells are forecast 86
Overview of production data 87
Overview of production decline rates 87
Overview of offshore Capex & Opex data 88
Overview of drilling expenditure 89
Overview of operating expenditure 92
Overview of consumption data 92
Sources of data 92
Data verification 93
Final data review and publication 93
How to contact experts in your industry 94
Further reading 94
Disclaimer 94

LIST OF FIGURES
Figure 1: Australia, offshore oil and gas production (000s boe/day), 2000–09 15
Figure 2: Australia, offshore oil and gas production (000s boe/day), 2009–30f 17
Figure 3: Australia, oil and gas market, offshore cumulative production (mm boe), 2000–09 19
Figure 4: Australia, oil and gas market, offshore cumulative production (mm boe), 2009–30f 21
Figure 5: Australia, oil and gas market, offshore remaining production (mm boe), 2000–09 23
Figure 6: Australia, oil and gas market, offshore remaining production (mm boe), 2009–30f 25
Figure 7: Australia, number of production wells (oil and gas), 2002–09 27
Figure 8: Australia, number of production wells (oil and gas), 2009–15f 29
Figure 9: Australia, number of offshore producing wells 2002–09 30
Figure 10: Australia, number of offshore producing wells 2009–15f 31
Figure 11: Australia, number of offshore wells drilled, 2000–15f 32
Figure 12: Australia, number of offshore wells drilled, split by exploratory and development, 2000–15f 34
Figure 13: Australia, number of offshore exploratory wells drilled, 2000–15f 36
Figure 14: Australia, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 38
Figure 15: Australia, number of offshore development wells drilled, 2000–15f 40
Figure 16: Australia, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 42
Figure 17: Australia, offshore expenditure, capex and opex ($m), 2000–09 44
Figure 18: Australia, offshore expenditure, capex and opex ($m), 2009–15f 46
Figure 19: Australia, offshore oil estimated production volume (mm bbl/year) by company, 2010 52
Figure 20: Australia, offshore natural gas estimated production volume (bcm/year) by company, 2010 57
Figure 21: Australia, offshore oil & natural gas estimated production volume (mm boe/year) by company, 2010 62
Figure 22: Australia, estimated market share of top 10 companies in offshore oil production, 2010 67
Figure 23: Australia, estimated market share of top 10 companies in offshore natural gas production, 2010 69
Figure 24: Australia, estimated market share of top 10 companies in offshore oil & natural gas production, 2010 71
Figure 25: Australia, estimated market share of top 5 companies in offshore oil production, 2010 73
Figure 26: Australia, estimated market share of top 5 companies in offshore natural gas production, 2010 75
Figure 27: Australia, estimated market share of top 5 companies in offshore oil & natural gas production, 2010 77
Figure 28: Australia, offshore oil estimated production per year by company, 2010–30 79
Figure 29: Australia, offshore natural gas estimated production per year by company, 2010–30 82

LIST OF TABLES
Table 1: Australia, offshore oil and gas production (000s boe/day), 2000–09 16
Table 2: Australia, offshore oil and gas production (000s boe/day), 2009–30f 18
Table 3: Australia, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2000–09 20
Table 4: Australia, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2009–30f 22
Table 5: Australia, oil and gas market, offshore remaining production by oil (mmbbls) and gas (bcm), 2000–09 24
Table 6: Australia, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2009–30f 26
Table 7: Australia, number of production wells (oil and gas), 2002–09 28
Table 8: Australia, number of production wells (oil and gas), 2009–15f 29
Table 9: Australia, number of offshore producing wells 2002–09 30
Table 10: Australia, number of offshore producing wells 2009–15f 31
Table 11: Australia, number of offshore wells drilled, 2000–15f 33
Table 12: Australia, number of offshore wells drilled, split by exploratory and development, 2000–15f 35
Table 13: Australia, number of offshore exploratory wells drilled, 2000–15f 37
Table 14: Australia, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 39
Table 15: Australia, number of offshore development wells drilled, 2000–15f 41
Table 16: Australia, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 43
Table 17: Australia, offshore expenditure, capex and opex ($m), 2000–09 45
Table 18: Australia, offshore expenditure, capex and opex ($m), 2009–15f 47
Table 19: Australia, offshore rig activity, Atwood Eagle, Songa Venus, Nanhai VI, Ocean America, Ocean Epoch and Ocean Patriot 48
Table 20: Australia, offshore rig activity, Stena Clyde, Pool 453, Goodwyn A, North Rankin A, West Atlas, ENSCO 109 and Maersk Discoverer 50
Table 21: Australia, offshore oil estimated production by company (companies only, excludes not identified, NGLs and wasted), 2010 53
Table 22: Australia, offshore oil estimated production volume by company (includes not identified, excludes NGLs and wasted), 2010 55
Table 23: Australia, offshore natural gas estimated production by company (companies only, excludes not identified and wasted), 2010 58
Table 24: Australia, offshore natural gas estimated production volume by company (includes not identified, excludes wasted), 2010 60
Table 25: Australia, offshore oil & natural gas estimated production (companies only, excludes not identified, NGLs and wasted) by company, 2010 63
Table 26: Australia, offshore oil & natural gas estimated production (includes not identified, excludes NGLs and wasted) by company, 2010 65
Table 27: Australia, top 10 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 68
Table 28: Australia, top 10 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 70
Table 29: Australia, top 10 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 72
Table 30: Australia, top 5 offshore oil estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 74
Table 31: Australia, top 5 offshore natural gas estimated production companies (companies only, excludes not identified and wasted) by company, 2010 76
Table 32: Australia, top 5 offshore oil & natural gas estimated production companies (companies only, excludes not identified, NGLs and wasted) by company, 2010 78
Table 33: Australia, offshore oil estimated production volumes (mm bbl/year) by company 2010–30 80
Table 34: Australia, offshore natural gas estimated production volumes (bcm/year) by company 2010–30 83


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