1 Table of contents 3
1.1 List of Tables 4
1.2 List of Figures 5
2 Introduction 6
2.1 Overview 6
3 GlobalData Report Guidance. 7
4 Global Oil and Gas Capital Expenditure to Rise in 2010 8
4.1 Oil & Gas Spending Down 18% in 2009 8
4.2 Global Oil and Gas Sector Spending to Rise 12% in 2010 9
4.3 2010 Capex Growth Driven by the Largest NOCs 11
4.4 Brazil Emerging as Powerhouse 14
4.5 Global Offshore Drilling Spend to 2020 17
4.6 The Unconventional Natural Gas Industry Will Attract Huge Investments In The Next Decade 20
4.7 Revival of Canadian Oil Sands Industry 23
4.7.1 Effect of financial crisis on Canadian Oil Sands Industry 23
4.7.2 Industry costs are declining 25
4.7.3 Price recovery since the lows in 2008 Q4 25
4.7.4 First Signs of the Revival of the Canadian Oil and Gas Industry 28
4.8 Developing New discoveries in more geologically challenging Regions 30
4.9 Corporate M&A Deals Will Drive M&A Investment in 2010 32
5 Capital Expenditure by Oil and Gas Sector 36
5.1 Exploration and Production Sector 36
5.2 Midstream and Downstream Sector 37
6 Capital Expenditure by Region 39
6.1 North America 39
6.2 South and Central America 39
6.3 Europe 40
6.4 Middle East & Africa 41
6.5 Asia-Pacific 42
7 Capital Expenditure by Oil & Gas Companies 44
7.1 National Oil Companies 44
7.2 Integrated Companies 45
7.3 Independent Companies 47
8 Major Planned Oil and Gas Projects in 2010 49
8.1 Upstream Projects 49
8.2 Refining Projects 52
8.3 Pipeline Projects 54
8.4 LNG Projects 55
8.5 Petrochemical Projects 56
8.5.1 Polypropylene Projects 56
8.5.2 Polyethylene Projects 57
9 Factors Leading to Rise in Capital Expenditure in 2010 and Beyond 59
9.1 Crude Oil and Natural Gas Prices And Thereby E&P Capital Expenditure Are Expected To Witness An Upward Trend In 2010 59
9.2 Improving Economic Outlook In 2010 Will Drive The Recovery Of Capital Expenditure 59
10 Appendix 62
10.1 Abbreviations 62
10.2 Methodology 62
10.2.1 Coverage 63
10.2.2 Secondary Research 64
10.2.3 Primary Research 64
10.2.4 Expert Panel Validation 64
10.3 Contact Us 64
10.4 Disclaimer 651.1 List of Tables
Table 1: Oil & Gas Spending, $ Billion, 2005-2009 8
Table 2: Oil & Gas Spending, By Region, $ Billion, 2005–2009 9
Table 3: Oil & Gas Spending, By Company Type, $ Billion, 2010 10
Table 4: Oil & Gas Spending and Growth Rate, By Company Type, $ Billion, 2010 11
Table 5: Oil & Gas Spending, By National Oil Companies, $ Billion, 2005–10 12
Table 6: Oil & Gas Spending, By Major National Oil Companies, $ Billion, 2009–10 13
Table 7: Brazil, Major Oil and Gas Discoveries, 2008–09 15
Table 8: Brazil, Principal Development Projects in the various Basins and their Production Capacity, 2009–2010 17
Table 9: Global Offshore Drilling Spend in USD Billion, 2000–20 19
Table 10: North America, Shale Play, Major M&A and Asset Transactions, 2009 21
Table 11: North America, Shale Play, Major M&A and Asset Transactions, 2009 (Cont’d) 22
Table 12: North America, Shale Play, Major M&A and Asset Transactions, 2009 (Cont’d) 23
Table 13: Major Upstream Delayed/Cancelled/Suspended Projects in Canada 24
Table 14: Crude oil and Natural Gas Prices, January 2007–January 2010 27
Table 15: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 28
Table 16: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 (Cont’d) 29
Table 17: Canadian Oil Sands, Some Planned Oil Sand Projects, 2010–2015 (Cont’d) 30
Table 18: Number of Oil & Gas Discoveries By Top Countries, 2005–09 31
Table19: Oil & Gas Deals By Industry, Number Of Deals, 2008Q1–2009Q4 33
Table 20: Oil & Gas Deals By Industry, Deal Value, 2008Q1–2009Q4 34
Table 21: Top 10 M&A Deal by Deal Value, 2007-2009 35
Table 22: Exploration and Production (E&P) Sector, Capital Expenditure, $ Billion, 2005–2010 36
Table 23: Midstream and Downstream Sector, Capital Expenditure, $ Billion, 2005–2010 38
Table 24: North America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 39
Table 25: South and Central America, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 40
Table 26: Europe, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 41
Table 27: Middle East & Africa, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 42
Table 28: Asia-Pacific, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 43
Table 29: National Oil Companies, Oil & Gas Capital Expenditure, $ Billion, 2005-2010 44
Table 30: Integrated Companies, Oil & Gas Capital Expenditure, $ Billion, 2005–2010 46
Table 31: Independent Companies, Oil & Gas Capital Expenditure, $ Billion, 2005–2010 47
Table 32: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 50
Table 33: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 (Cont’d) 51
Table 34: Global Major Planned Exploration and Production (E&P) Projects, 2010–2018 (Cont’d) 52
Table 35: Global, Top 10 Planned Refineries, 2010–13 54
Table 36: Global Pipeline Industry, Top 10 Planned Pipeline Lengths (Km), Capacities and Capex ($ Million), October 2009 55
Table 37: Global LNG Industry, Top 10 Planned LNG Liquefaction Terminals, 2009–2015 56
Table 38: Global LNG Industry, Top 10 Planned Regasification Terminals, 2009–2015 56
Table 39: Global Planned Polypropylene Projects, 2010 Startup 57
Table 40: Global Planned Polyethylene Projects, 2010 Startup 58
Table 41: Crude Oil and Natural Gas Average Prices, 2008–2012 591.2 List of Figures
Figure 1: Oil & Gas Spending, $ Billion, 2005–2009 8
Figure 2: Oil & Gas Spending, By Region, $ Billion, 2005–2009 9
Figure 3: Oil & Gas Spending, By Company Type, $ Billion, 2010 10
Figure 4: Oil & Gas Spending and Growth Rate, By Company Type, $ Billion, 2010 11
Figure 5: Oil & Gas Spending, By National Oil Companies, $ Billion, 2005–10 12
Figure 6: Oil & Gas Spending, By Major National Oil Companies, $ Billion, 2009–10 13
Figure 7: Brazil, Santos Basin, Pre-Salt Cluster, 2009 15
Figure 8: Petrobras, Brazil Major Oil Projects and Production, Mbbl/d, 2008–2013 16
Figure 9: Global Offshore Drilling Spend, By Major Region, $ Billion, 2000–2020 18
Figure 10: Crude oil and Natural Gas Prices, January 2007–January 2010 26
Figure 11: Number of Oil & Gas Discoveries By Top Countries, 2005–2009 31
Figure 12: Oil & Gas Discoveries By Top Operators, 2009 32
Figure 13: Oil & Gas Deals By Industry, Number Of Deals and Deal Value, 2008Q1–2009Q4 33
Figure 14: Exploration and Production (E&P) Sector, Capital Expenditure, $ Billion, 2005–2010 36
Figure 15: Midstream and Downstream Sector, Capital Expenditure, $ Billion, 2005–2010 38
Figure 16: North America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 39
Figure 17: South and Central America, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 40
Figure 18: Europe, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 41
Figure 19: Middle East & Africa, Oil & Gas Capital Expenditure, $ Billion, 2006–2010 42
Figure 20: Asia-Pacific, Oil & Gas Capital Expenditure, $ Billion, 2006-2010 43
Figure 21: National Oil Companies, Oil and Gas Capital Expenditure, $ Billion, 2005-2010 44
Figure 22: Integrated Oil Companies, Oil and Gas Capital Expenditure, $ Billion, 2005–2010 46
Figure 23: Independent Companies, Oil and Gas Capital Expenditure, $ Billion, 2005–2010 47
Figure 24: Global Major Planned Exploration and Production Projects 49
Figure 25: Global Major Planned Refining Projects, 2010 53
Figure 26: Global GDP Growth Rate, Q1 2008–Q4 2010 60
Figure 27: The US Crude Oil Stock, Jan 09- Aug 09. 61
Figure 28: GlobalData Methodology 63