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benefit other discoveries in the Norwegian Sea by redirecting existing gas flows and freeing pipeline capacity sooner than the present infrastructurewill allow. Confirmed plans have not been an- nounced for Luva or the potential satellite fields, but first production will likely be after 2017. UK? Deepwater prospects situated in the At- lantic Frontier include Laggan &Tormore (2014) and Rosebank & Lochnagar (2017). The current development concepts revolves around a long dis- tance tie-back for Laggan & Tormore and an FPSO for Rosebank & Lochnagar. PIPELINESDWs deepwater model includes forecast ex- penditure on trunklines as well as infield flow- lines and risers. Trunkline expenditure over the 2011-2015 period is dominated by Eastern Eu-rope and the FSU, which is expected to account for 53% of the $38bn forecast. Most of the majordeepwater pipelines planned for this region will bring Russian gas to European consumers via theBlack Sea. Compared to the upstream market, the pipeline market is much more politicized and the viability of these Russian projects is heavily in- fluenced by geopolitics, potential consumer mar- kets and the viability of alternative supply routes (such as LNG or onshore pipelines). Few up- stream deepwater developments are visible in the region and therefore the majority of deepwater Capex forecast in this region is related to pipeline projects. As a major exporting region with pre- dominately shallow water fields, the Middle East shows a similarly sparse Capex profile. FORECASTDW forecast a global Capex of $218 billion for the 2011-2015 period ? 87% more than theamount spent in the preceding five year period. African and Latin American developments are expected to drive the forecast spend, with African developments largely concentrated on Angola and Nigeria. Latin America is likely to experience substantial growth, exceeding Africas deepwater expenditure towards the end of the forecast pe- riod, driven by Petrobras development of its Campos and Santos (pre-salt) fields off Brazil. There are some interesting prospects in NorthAfrica but these may be hampered in the short- term by the political uncertainties. The impor- tance of Asia as a deepwater region should not be overlooked. Asian deepwater expenditure over the 2011-2015 period is expected to amount to 8% of our forecast Capex, with most of the main developments occurring off India, Malaysia and Indonesia. Three main elements dominate deep- water spend during the 2011-2015 period: drilling and completion of subsea wells, floating produc-tion platforms and pipelines (trunklines). CONCLUSIONSIn the global context, the overall outlook for the global deepwater business is clearly one of sig- nificant long-term opportunity with substantial growth in activity in West Africa, Brazil and Asia. Political intervention and uncertainty is not a new challenge for the oil industry but it does threaten to over-shadow the great technical progress in re- cent years that has resulted in remarkable feats ofengineering and the ability to explore for oil in water depths of up to 3,000m. As deepwater proj- ects become increasingly capital-intensive there is an economic challenge for E&P companies anda significant potential prize for international oil- field service and equipment vendors. The World Deepwater Market Report 2011- 2015 and Deepwater Quarterly Updates Service. Building on previous editions, the new report pro- vides a detailed country-by-country and compo-nent-led analysis as well as an exploration of deepwater production designs, sector trends and development prospects. It also offers compre- hensive deepwater case studies. Douglas-West- wood also offers a new dynamic service tailored to meet the individual needs of industry profes- sionals. June 2011www.marinelink.com 57Buy This ReportThe World Deepwater Market Report 2011-2015 is based on Douglas-Westwoods 20 years of ex- perience forecasting the sector. Unique and proprietary data covers historic and forecast deepwa- ter capital expenditure breakdowns for Africa, Asia, Australasia, Eastern Europe & the FSU, Latin America, Middle East, North America and Western Europe. Each regional forecast is detailed by main component: Drilling and Completion - Subsea Completed Wells, Surface Completed Wells, Subsea Production Hardware, SURF, Pipeline Systems, Floating Production Systems by Type and Subsea Processing Hardware. The Report can also be purchased with our new Deepwater Service which combines an annual report with five-year industry spend forecasts updated each quarter, ded- icated real-time analyst support and on-site presentations. Further information is available at Web: www.dw-1.com ? Email: [email protected] ? Tel: +44 1227 780999 The AuthorLucy Milleris an analyst with DW and has conducted market analysis on a variety of DWs com- missioned research projects for clients in the oil and gas sector, as part of commercial due-dili- gence and published market studies. She has contributed to studies including The World LNG Market Report, The World FLNG Market Report and the The World Floating Production Mar- ket Report. Her analysis has been quoted by Bloomberg, Citigroup, Upstream, Penn Energy and World Oil among others. Lucy has a background in the offshore O&G and previously worked for FoundOcean. She has a degree in Economics and Geography from the University of Leicester.