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

Synopsis
Key historical and forecast data for the offshore oil and gas industry in Spain 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 Spain. 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 Spanish 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 Spain by comparing rigs across 26 parameters

Highlights
• Oil and gas production in Spain declined at a CAGR of 7.8% over the 2000-09 period. This is expected to grow at a CAGR of 1.8% over the 2010-30 period.
• Capital Expenditure (Capex) accounted for a 80.3% share of the total offshore expenditure in 2009 in Spain, while Operation Expenditure (Opex) accounted for the remaining 19.7% 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
Spanish Offshore Oil and Gas Production Overview 15
Offshore production to 2030 15
Offshore cumulative production to 2030 19
Offshore remaining production to 2030 23
Spanish Offshore Production Wells 27
Total production wells (oil & gas) overview 27
Offshore production wells (oil and gas) 31
Spanish Offshore Drilling 34
Offshore drilling of wells to 2015 34
Offshore well drilling in Spain, split by exploratory and development to 2015 36
Offshore exploratory well drilling to 2015 38
Offshore exploratory well drilling in Spain, split by exploration and appraisal to 2015 40
Offshore development well drilling to 2015 42
Offshore development well drilling in Spain, split by surface and sub-sea development to 2015 44
Spanish Offshore Expenditure 46
Capex and Opex to 2015 46
Spanish Offshore Rig Activity 50
HAKURYU-10 50
Spanish Equity Stakes 51
Companies ranked by estimated oil production offshore in 2010 51
Companies ranked by estimated natural gas production offshore in 2010 53
Companies ranked by estimated oil & natural gas production offshore in 2010 54
Top companies by estimated oil production offshore in 2010 56
Top companies by estimated oil & natural gas production offshore in 2010 58
Companies and estimated oil production per year 60
Appendix 62
Research methodology 62
Global oil & gas analyzer overview 62
Overview of reserves 62
Overview of drilling activity 62
How producing wells are forecast 63
Overview of production data 64
Overview of production decline rates 64
Overview of offshore Capex & Opex data 65
Overview of drilling expenditure 66
Overview of operating expenditure 69
Overview of consumption data 69
Sources of data 69
Data verification 70
Final data review and publication 70
How to contact experts in your industry 71
Further reading 71
Disclaimer 71

LIST OF FIGURES
Figure 1: Spain, offshore oil and gas production (000s boe/day), 2000–09 15
Figure 2: Spain, offshore oil and gas production (000s boe/day), 2010–30f 17
Figure 3: Spain, oil and gas market, offshore cumulative production (mm boe), 2000–09 19
Figure 4: Spain, oil and gas market, offshore cumulative production (mm boe), 2010–30f 21
Figure 5: Spain, oil and gas market, offshore remaining production (mm bbls), 2000–09 23
Figure 6: Spain, oil and gas market, offshore remaining production (mm boe), 2009–30f 25
Figure 7: Spain, number of production wells (oil), 2002–09 27
Figure 8: Spain, number of production wells (oil), 2009–15f 29
Figure 9: Spain, number of offshore producing wells, 2002–09 31
Figure 10: Spain, number of offshore producing wells, 2009–15f 33
Figure 11: Spain, number of offshore wells drilled, 2000–15f 34
Figure 12: Spain, number of offshore wells drilled, split by exploratory and development, 2000–15f 36
Figure 13: Spain, number of offshore exploratory wells drilled, 2000–15f 38
Figure 14: Spain, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 40
Figure 15: Spain, number of offshore development wells drilled, 2000–15f 42
Figure 16: Spain, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 44
Figure 17: Spain, offshore expenditure, capex and opex ($m), 2000–09 46
Figure 18: Spain, offshore expenditure, capex and opex ($m), 2009–15f 48
Figure 19: Spain, offshore oil estimated production volume (mmbbl/year) of top companies, 2010 51
Figure 20: Spain, offshore natural gas estimated production volume (mmboe/year) of top companies, 2010 54
Figure 21: Spain, top companies in offshore oil estimated production, 2010 56
Figure 22: Spain, top companies in offshore oil & natural gas estimated production, 2010 58
Figure 23: Spain, offshore oil estimated production per year by company, 2010–30 60

LIST OF TABLES
Table 1: Spain, offshore oil and gas production (000s boe/day), 2000–09 16
Table 2: Spain, offshore oil and gas production (000s boe/day), 2010–30f 18
Table 3: Spain, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2000–09 20
Table 4: Spain, oil and gas market, offshore cumulative production by oil (mm bbls) and gas (bcm), 2010–30f 22
Table 5: Spain, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2000–09 24
Table 6: Spain, oil and gas market, offshore remaining production by oil (mm bbls) and gas (bcm), 2009–30f 26
Table 7: Spain, number of production wells (oil and gas), 2002–09 28
Table 8: Spain, number of production wells (oil and gas), 2009–15f 30
Table 9: Spain, number of offshore producing wells, 2002–09 32
Table 10: Spain, number of offshore producing wells, 2009–15f 33
Table 11: Spain, number of offshore wells drilled, 2000–15f 35
Table 12: Spain, number of offshore wells drilled, split by exploratory and development, 2000–15f 37
Table 13: Spain, number of offshore exploratory wells drilled, 2000–15f 39
Table 14: Spain, number of offshore exploratory wells drilled, split by exploration and appraisal, 2000–15f 41
Table 15: Spain, number of offshore development wells drilled, 2000–15f 43
Table 16: Spain, number of offshore development wells drilled, split by surface and sub-sea development, 2000–15f 45
Table 17: Spain, offshore expenditure, capex and opex ($m), 2000–09 47
Table 18: Spain, offshore expenditure, capex and opex ($m), 2009–15f 49
Table 19: Spain, offshore rig activity, HAKURYU-10 50
Table 20: Spain, offshore oil estimated production volume by company (companies only, excludes not identified, NGLs and wasted), 2010 52
Table 21: Spain, offshore oil estimated production by company (includes not identified, excludes NGLs and wasted), 2010 52
Table 22: Spain, offshore natural gas estimated production volume by company (not identified, excludes wasted), 2010 53
Table 23: Spain, offshore oil & natural gas estimated production (companies only, excludes not identified, NGLs and wasted) by company, 2010 55
Table 24: Spain, offshore oil & natural gas estimated production (includes not identified, excludes NGLs and wasted) by company, 2010 55
Table 25: Spain, top offshore oil estimated production volume (companies only, excludes not identified, NGLs and wasted), 2010 57
Table 26: Spain, top offshore oil & natural gas estimated production (companies only, excludes not identified, NGLs and wasted) by company, 2010 59
Table 27: Spain, offshore oil estimated production volumes (mm bbl/year) by company 2010–30 61


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