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PRESS RELEASE

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"Visiongain determines that spending in the Mobile Offshore Drilling Unit (MODU) market in 2012 will amount to $48.1bn"

LONDON, UK. 26 March, 2012: Oil and gas production from offshore resources is of considerable importance for energy companies as existing base resources are being depleted at a rapid rate. New oil discoveries of significance are becoming less common, with the majority of major finds being offshore. A large amount of undeveloped offshore oil and gas fields as well as new offshore discoveries will help drive the MODU market, especially in deepwater. With strong oil prices persisting, major energy companies are increasingly reinvesting their earnings in exploration and development of offshore oil and gas basins. Visiongain calculates capital expenditure in the MODU market will total $48.1bn in 2012.

According to the International Energy Agency, global oil demand will rise from 88 million barrels today to around 99 million barrels in 25 years time. Over this period the cost of extracting oil will be higher and production from offshore resources will not be as expensive as it was relative to development of onshore hydrocarbons.

Although new technological improvements mean fewer people will be needed on offshore oil and gas drilling rigs, the construction industry behind MODUs and assembly of related technologies is providing employment for thousands of people. For example, the Brazilian marine construction industry has emerged on a vast scale to enable its offshore industry to provide MODUs and technologies for Petrobras to meet its vast oil production targets from its offshore resources.

Most super-major oil and gas companies as well as independent oil and gas companies have each secured a share in the hydrocarbon-rich offshore regions across the globe and demand for MODUs is strong. Meanwhile, health and safety standards and technology have both improved across the industry, leading to a backlog of orders for new-build MODU.

The Mobile Offshore Drilling Units (MODU) Market 2012-2022 report includes 144 tables, charts and graphs that analyse quantify and forecast the MODU market in detail from 2012-2022 at the global level, four submarkets and for 7 regional markets. The analysis and forecasting ahs been reinforced by extensive consultation with industry experts. Two full transcripts of exclusive interviews are included from Friede & Goldman and Maxeler Technologies. The report also profiles 55 leading companies involved in the MODU market.

You will gain valuable insight into the future developments of the mobile offshore drilling unit market by ordering The Mobile Offshore Drilling Units (MODU) Market 2012-2022 report.

For sample pages and further information concerning the Visiongain report The Mobile Offshore Drilling Units (MODU) Market 2012-2022 please visit: http://www.visiongain.com/Report/788/The-Mobile-Offshore-Drilling-Units-%28MODU%29-Market-2012-2022

For an executive summary of this report or to order it today please email:
Sara Peerun at sara.peerun@visiongainglobal.com
Tel: +44 (0) 20 7336 6100

ENDS

Notes for Editors

If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongainglobal.com or call her on +44 (0) 207 336 6100

About visiongain

Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, visiongain produces a host of business-2-business conferences, newsletters, management reports and e-zines focusing on the Energy, Telecoms, Pharmaceutical, Defence, Materials sectors.

Visiongain publishes reports produced by its in-house analysts, who are qualified experts in their field. Visiongain has firmly established itself as the first port-of-call for the business professional, who needs independent, high quality, original material to rely and depend on.

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