NSR: Satellite Will Dominate Greenfield Oil and Gas Comms Market
[Satellite TODAY Insider 03-23-11] The enterprise satellite sector may see limited long-term retail revenue growth in traditional oil and gas markets but could offset these challenges by leveraging increasing growth opportunities in future greenfield projects, according to NSR’s Oil and Gas Satellite Market research report.
NSR, however, does not see traditional markets stalling, with projections that global oil and gas via satellite revenues will grow from about $600 million in 2010 to $975 million in 2020, yielding total retail revenues of nearly $8.8 billion in the 10-year period.
“With Deepwater Horizon behind the oil and gas industry, companies now have renewed interest in continuing to expand exploration and production plans, and increasing the capacity to deliver crude or natural gas products from production site to their final markets. Oil and gas companies continue to look for the next big thing, both in deeper waters and northern climates. As terrestrial solutions continue to penetrate the traditional markets, these next big things will be where satellite-based solutions dominate,” NSR said.
The analysis firm said most of this growth would be driven by new technologies such as high-throughput satellites and the push of oil and gas operations into remote environments. “Terrestrial penetration in the Gulf of Mexico and the North Sea reduces the value-proposition of satellite-based solutions. Yet, places without terrestrial solutions will be where satellite players see the largest growth, mainly in deepwater or northern latitude markets. Along with terrestrial penetration, increases in regulation and a slowdown of new discoveries also limit overall growth in traditional markets,” NSR Senior Analyst Claude Rousseau said in the report.
NSR projects the Atlantic Ocean region contribution to the sector’s total retail revenues will drop to 27 percent by 2020 as the Indian Ocean and Pacific Ocean markets mature. NSR also forecasts the offshore segment will grow at about 8 percent per year, to total retail revenues of over $450 million by 2020.
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