Worldwide offshore rig count & utilization rate
January 2013 – Decvember 2014
1,000
900
800
700
600
500
100
90
80
70
60
50
N
o.
o
fri
g
s
F
l
ee
t
u
ti
li
za
tio
n
ra
te
%
Jan13 April13 July13 Oct13 Jan14 April14 July14 Oct14
Contracted fleet utilization Total fleet Contracted Working
S
o
urc
e:I
H
S
Brazil offshore capex by water depth 2010-2019
100
90
80
70
60
50
40
30
20
10
0
> 2,499 m
2,000-2,499 m
1,500-1,999 m
1,000-1,499 m
500-999 m
100-499 m
0-99 m
2009
Source: Infield Systems
2010 2011 2012 2013 2014 2015 2016 2017 2018
Wa
ter
d
ep
th
c
a
pe
x
sh
are
(%)
Worldwide day rates
Year/Month Minimum Average Maximum
Drillship
2014 Jan $151,000 $480,367 $681,000
2014 Feb $151,000 $486,174 $681,000
2014 Mar $151,000 $487,172 $735,000
2014 Apr $151,000 $497,444 $735,000
2014 May $151,000 $499,934 $735,000
2014 June $151,000 $497,554 $735,000
2014 July $151,000 $501,231 $735,000
2014 Aug $151,000 $503,924 $735,000
2014 Sept $151,000 $499,614 $735,000
2014 Oct $151,000 $503,030 $735,000
2014 Nov $151,000 $507,601 $735,000
2014 Dec $151,000 $507,944 $735,000
Jackup
2014 Jan $30,000 $130,352 $361,000
2014 Feb $30,000 $129,948 $361,000
2014 Mar $30,000 $130,592 $361,000
2014 Apr $30,000 $131,360 $361,000
2014 May $30,000 $132,688 $365,000
2014 June $30,000 $135,746 $365,000
2014 July $30,000 $135,922 $365,000
2014 Aug $30,000 $138,650 $389,000
2014 Sept $30,000 $141,812 $389,000
2014 Oct $30,000 $143,689 $389,000
2014 Nov $30,000 $144,288 $389,000
2014 Dec $30,000 $145,537 $389,000
Semi
2014 Jan $145,000 $391,246 $659,098
2014 Feb $145,000 $389,970 $659,098
2014 Mar $145,000 $384,203 $659,098
2014 Apr $145,000 $389,871 $659,098
2014 May $145,000 $393,029 $659,098
2014 June $145,000 $396,024 $659,098
2014 July $145,000 $397,427 $659,098
2014 Aug $145,000 $395,136 $659,098
2014 Sept $145,000 $390,181 $659,098
2014 Oct $145,000 $392,117 $659,098
2014 Nov $145,000 $394,554 $659,098
2014 Dec $145,000 $393,000 $659,098
Source: Rigzone.com
GLOBAL DATA
This month, Infield Systems looks at the
prospectivity of Brazil’s developments and forecast
capex over the next five years. Altogether, capex
on ultra-deepwater developments (at water depths
of more than 1,499 m/4,917 ft) is expected to
form 84% of offshore spend during the 2015-2019
timeframe. This compares with 60% of Brazil’s total
offshore capex over the previous five years.
Infield Systems expects about 73% of the capex
to be directed toward developments within water
depths of between 2,000 and 2,499 m ( 6,560 and
8,197 ft), which compares with the historical period
where this water depth range held a still dominant,
yet smaller 37% share. Key developments driving
this trend include Sururu (ex-Iara Horst) and
Berbigao (ex-Iara Northwest) at depths of 2,230 m
( 7,314 ft) and 2,222 m ( 7,288 ft), respectively.
Within the more than 2,499 m water depth
category Infield Systems expects key fields to include the Repsol/Sinopec-operated Gavea devel-
opment, where capex is likely to be directed toward subsea infrastructure and a possible FPSO
development. It also expects significant capex to be required by Petrobras’ Iracema Sul field, at a
depth of 2,500 m ( 8,200 ft) during 2015 and 2016.
In operator terms, Petrobras is forecast to account for a 96% share of total regional offshore
capex during the period to 2019, with 10 additional operators anticipated to invest in Brazil’s
offshore sector. The most significant foreign operator active over the timeframe is likely to be
Shell, with capex directed toward the Argonauta (BW, O-North, and O-South), Massa, and Ostra
fields within the Parque das Conchas BC- 10 area.
– Catarina Podevyn, Published Content Analyst, Infield Systems Ltd.
