Deepwater and Ultra Deepwater Exploration and Production Market to be Worth $83.2 Billon in 2013

The global deepwater & ultra deepwater exploration & production market will reach a value of $83.2 billion in 2013, according to analysis by Visiongain. The sector will experience strong growth over the forecast period as development of large offshore oil finds drive expenditure for ongoing projects and create an incentive for further exploration. Visiongain’s analysis provides a comprehensive overview of the deepwater & ultra deepwater exploration & production market taking into account the various factors influencing the development of the market.

The lead analyst of the deepwater & ultra deepwater exploration & production market report comments: “The deepwater & ultra deepwater exploration & production market is a rapidly growing segment of the global oil & gas market where technological advances of recent years have allowed companies to operate in ever greater water depths. The discovery of pre-salt oil reserves in Brazil have resulted in increased exploration activity in traditional offshore regions and frontier areas alike. Despite the negative publicity following the Macondo blowout, the industry is expanding at a strong pace and has the technological knowledge to operate securely and efficiently in the most challenging environments. Based on current and potential of deepwater & ultra deepwater projects, investment in the global deepwater & ultra deepwater exploration & production market will grow strongly over the next decade.”

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