Offshore oil and gas-related industry

The sector includes the supply of oil and gas-related services and equipment in the fields of exploration and production, refining and petrochemicals. Distribution, use and transport of hydrocarbons are not included. Work and facilities concerning transport (pipeline laying and LNG carrier building) are included.

1. Ifremer estimates, after breakdown of turnover (IFP estimate) and accounts of sectors EE (NES 16 code), 45.2R, 11.2Z and 74.2C (NAF 2003 codes).
Sources: French Oil and Gas Service Industry Association, French Petroleum Institute / Annual business inquiry, INSEE

Comments

  • The sector's business is mainly located in Far East (China and S Korea), South America (Brazil), West Africa (Gulf of Guinea) and the North Sea.
  • The activity has been impacted by the recent economic slowdown. The number of offshore platform projects decreased in 2010. Over a longer time period in the recent past, the activity was steadily developing as shown by the large number of projects.
  • In addition, the offshore exploration and production investment is boosted by high oil and gas prices.

Combined index of hydrocarbon world prices (crude oil, natural gas, coal)

Estimated turnover of the French offshore oil and gas-related service industry (IFP)

Source: IMF International Monetary Fund