3 senegal leases what are they worth?, page-40

Colon...keeping a positive spin on things I'm confident Shell will still be around in a few years time & will play a large role in offshore projects as referenced in this article. Here's hoping a few Billion go Senegals/FAR's way....SOON!!!

Global deepwater expenditure to exceed $108 billion through 2012


Published: Oct 1, 2007

Africa leads in deepwater development
Adrian John, Georgie MacFarlan - Douglas-Westwood Ltd.
The World Deepwater Market Forecast, soon to be published by energy analysts Douglas-Westwood, forecasts continued growth in the deepwater sector with annual expenditures reaching over $24.6 billion by 2012. The key findings of the study in conjunction with related information from The World Offshore Drilling Spend Forecast and The World Oil and Gas Forecast indicate that an enormous amount of activity lies ahead.

Looking forward
Deepwater oil and gas production is increasing rapidly, and output is expected to increase by almost 80% over the period to 2011. From 4.5 MMb/d in 2007, deepwater oil production will grow to nearly 8 MMb/d in 2011, while deepwater gas production will increase from 1.6 to over 3 MMboe/d over the same period.

To put this in context, deepwater oil production now accounts for almost 15% of total offshore oil and gas production, but over the next few years, its total share relative to shallow-water output will grow, accounting for around 20% of offshore production by 2011.

Deepwater regions
Africa is expected to be the leading deepwater development area over the 2008-2012 period, accounting for nearly 40% of the global deepwater spend. Since the first brace of deepwater “elephants” - Shell’s Bonga in OPL 212 off Nigeria and Total’s Girassol in block 17 off Angola, discovered in the spring of 1996 - Africa has emerged as perhaps the most significant deepwater region in the world, with some stunning successes. The first floating production system to be installed in Africa’s deepwater was Total’s landmark Girassol FPSO on the Girassol field off Angola in 2001. This was followed by ExxonMobil’s Xikomba in 2003 and then Kizomba A’s TLP and FPSO.