The United Kingdom Oil Markets, 2012
Publisher Name » GlobalData
Published Date » 2012-06-30
No. Of Pages » 153
This profile is the essential source for top-level energy industry data and information. The report provides an overview of each of the key sub-segments of the energy industry in The United Kingdom. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for each of the key sub-segments. It also provides information relating to the crude oil assets (oil fields, refineries, pipelines and storage terminals) in The United Kingdom . The report compares the investment environment in The United Kingdom with other countries in the region. The profiles of the major companies operating in the crude oil sector in The United Kingdom together with the latest news and deals are also included in the report.
Scope
- Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for each industry sub-segment for the period 2000-2020.
- Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in The United Kingdom for the period 2005-2016.
- Operator and equity details for major crude oil assets in The United Kingdom .
- Key information relating to market regulations, key energy assets and the key companies operating in the The United Kingdom s energy industry.
- Information on the top companies in the The United Kingdom including business description, strategic analysis, and financial information.
- Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
- Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.
- Gain a strong understanding of the countrys energy market.
- Facilitate market analysis and forecasting of future industry trends.
- Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
- Assess your competitors major crude oil assets and their performance.
- Analyze the latest news and financial deals in the oil sector of each country.
- Develop strategies based on the latest operational, financial, and regulatory events.
- Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
- Identify and analyze the strengths and weaknesses of the leading companies in the country.
Energy Sector, Crude Oil, Import, Export, Production, Consumption, Reserves, Forecast, Historical, Trends, 2020, Energy, Pipeline, Refining, Demand, Supply, Distillation Unit Capacity, Coking Capacity, Coking Capacity, Fluid Catalytic Cracking Capacity, Hydrocracking Capacity, Installed Capacity, Equity Partner, Operator, Length, Capacity, Government Take, Company Profile, SWOT, Business Description, News, Deals.
Table Of Contents
1 Table Of Contents
1 Table Of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 United Kingdom Energy Sector 11
2.1 United Kingdom Energy Sector, Market Overview 11
2.2 United Kingdom Energy Sector, Crude Oil 12
2.2.1 United Kingdom Crude Oil, Overview 12
2.2.2 United Kingdom Crude Oil, Supply and Demand Balance 12
2.2.3 United Kingdom Crude Oil, Regulatory Structure 18
2.2.4 United Kingdom Crude Oil, Infrastructure 19
3 The United Kingdom Oil Upstream Investment Environment Benchmarking 20
3.1 Introduction 20
3.2 The Overall Ranking 20
3.3 Upstream Fiscal Attractiveness 21
3.3.1 Maximum Government Take Index 22
3.3.2 Fiscal Flexibility 23
3.3.3 Maximum State Participation 23
3.4 Oil Sector Performance 23
3.4.1 Exploration Activity 25
3.4.2 Oil Production 26
3.4.3 Oil Reserves 26
3.4.4 Oil Consumption 27
3.4.5 Refining Industry 27
3.5 Economic Performance 27
3.5.1 GDP Growth Index 29
3.5.2 FDI Confidence Index 29
3.5.3 Balance of Trade Index 29
3.6 Socio-Political Performance 30
3.6.1 Democracy Index 32
3.6.2 Governance Index 32
4 United Kingdom Exploration and Production Sector 33
4.1 United Kingdom Exploration and Production Sector, Country Snapshot 33
4.1.1 United Kingdom Exploration and Production Sector, Key Data 33
4.1.2 United Kingdom Exploration and Production Sector, Crude Oil Assets Map 33
4.2 United Kingdom Exploration and Production Sector, Gross Crude Oil Production 34
4.2.1 United Kingdom Exploration and Production Sector, Total Gross Crude Oil-Historical Production 34
4.2.2 United Kingdom Exploration and Production Sector, Gross Crude Oil-Historical Production by Type 35
4.2.3 United Kingdom Exploration and Production Sector, Gross Crude Oil Production by Assets 36
4.2.4 United Kingdom Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 38
4.2.5 United Kingdom Exploration and Production Sector, Market Share of Key Companies Based on Gross Equity Weighted Crude Oil Production 39
4.3 United Kingdom Exploration and Production Sector, Production Forecast 41
4.3.1 United Kingdom Exploration and Production Sector, Gross Crude Oil Production Forecast 41
4.4 United Kingdom Exploration and Production Sector, Crude Oil Asset Details 45
4.4.1 United Kingdom Exploration and Production Sector, Active Crude Oil Asset Details 45
4.4.2 United Kingdom Exploration and Production Sector, Planned Crude Oil Asset Details 49
4.5 United Kingdom Exploration and Production Sector, Major Oil Discoveries 53
4.5.1 United Kingdom Exploration and Production Sector, Number of Oil Discoveries 53
4.5.2 United Kingdom Exploration and Production Sector, Oil Discovery Details 54
4.6 United Kingdom Exploration and Production Sector, Recent Discoveries 55
4.6.1 May 03, 2012: Valiant Petroleum Finds Oil At Orchid Exploration Prospect In Block 29/1c, UK 55
4.6.2 Apr 23, 2012: Borders & Southern Petroleum Discovers Gas Condensate At 61/17-1 Well In Falklands 55
4.6.3 Dec 13, 2011: Rockhopper Exploration Finds Hydrocarbons At 14/15-4 Well In PL004b, Falkland Islands 56
4.6.4 Nov 30, 2011: Antrim Energy Announces Oil Discovery At Erne Exploration Well 21/29d-11, UK North Sea 58
4.6.5 Nov 09, 2011: Canadian Overseas Petroleum Announces Oil Discovery At Esperanza Exploration Prospect In UK Central North Sea Block 22/15 59
4.7 United Kingdom Exploration and Production Sector, Drilling and Production Updates 59
4.7.1 May 29, 2012: Xcite Energy Provides Update On Bentley 9/3b-7 Well In UK 59
4.7.2 May 29, 2012: Bayfield Energy Provides Update On EG7 Well At Galeota License In Trinidad And Tobago 60
4.7.3 May 28, 2012: Ithaca Energy Commences Oil Production From Athena Field In UK 60
4.7.4 May 28, 2012: Valiant Petroleum Provides Update On Tybalt Appraisal Well In UK 60
4.7.5 May 18, 2012: EnQuest Provides Production Update 60
5 United Kingdom FPSO Industry 63
5.1 United Kingdom FPSO Industry, FPSO Capacity Details by Vessel 63
5.2 United Kingdom FPSO Industry, FPSO Vessel Specifications 64
6 United Kingdom FSO Industry 65
6.1 United Kingdom FSO Industry, FSO Capacity Details by Vessel 65
6.2 United Kingdom FSO Industry, FSO Vessel Specifications 65
7 United Kingdom Pipeline Sector 66
7.1 United Kingdom Pipeline Sector, Key Data 66
7.2 United Kingdom Pipeline Sector, An Overview 66
7.3 United Kingdom Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 66
7.4 United Kingdom Pipeline Sector, Comparison of Key Petroleum Product Pipeline Companies 67
7.5 United Kingdom Pipeline Sector, Crude Oil Pipelines 68
7.6 United Kingdom Pipeline Sector, Petroleum Product Pipelines 70
8 United Kingdom Refining Sector 74
8.1 United Kingdom Refining Sector, Key Data 74
8.2 United Kingdom Refining Sector, An Overview 74
8.2.1 United Kingdom Refining Sector, Total Refining Capacity 74
8.3 United Kingdom Refining Sector, Capacity Market Share by Company 75
8.4 United Kingdom Refining Sector, Crude Distillation Unit Capacity 76
8.5 United Kingdom Refining Sector, Coking Capacity 77
8.6 United Kingdom Refining Sector, Fluid Catalytic Cracking Capacity 78
8.7 United Kingdom Refining Sector, Hydrocracking Unit Capacity 78
9 United Kingdom Oil and Chemicals Storage Sector 79
9.1 United Kingdom Oil and Chemicals Storage Sector, Key Data 79
9.2 United Kingdom Oil and Chemicals Storage Sector, An Overview 79
9.2.1 United Kingdom Oil and Chemicals Storage Sector, Total Storage Capacity 79
9.2.2 United Kingdom Oil and Chemicals Storage Sector, Storage Capacity by Area 80
9.2.3 United Kingdom Oil and Chemicals Storage Sector, Capacity Market Share by Company 81
9.3 United Kingdom Oil and Chemicals Storage Sector, Storage Capacity by Terminal 82
10 Profile of BP p.l.c. 84
10.1 BP p.l.c, Key Information 84
10.2 BP p.l.c, Company Overview 84
10.3 BP p.l.c, Business Description 84
10.3.1 Business Overview 84
10.3.2 Exploration and Production 86
10.3.3 Other Businesses and Corporate 88
10.3.4 Refining and Marketing 89
10.4 BP p.l.c, SWOT Analysis 91
10.4.1 Overview 91
10.4.2 BP p.l.c. Strengths 92
10.4.3 BP p.l.c. Weaknesses 93
10.4.4 BP p.l.c. Opportunities 94
10.4.5 BP p.l.c. Threats 96
11 Profile of Royal Dutch Shell plc 97
11.1 Royal Dutch Shell plc, Key Information 97
11.2 Royal Dutch Shell plc, Company Overview 97
11.3 Royal Dutch Shell plc, Business Description 97
11.3.1 Business Overview 97
11.3.2 Corporate 99
11.3.3 Downstream 100
11.3.4 Upstream 101
11.4 Royal Dutch Shell plc, SWOT Analysis 102
11.4.1 Overview 102
11.4.2 Royal Dutch Shell plc Strengths 103
11.4.3 Royal Dutch Shell plc Weaknesses 104
11.4.4 Royal Dutch Shell plc Opportunities 105
11.4.5 Royal Dutch Shell plc Threats 107
12 Profile of ConocoPhillips 109
12.1 ConocoPhillips, Key Information 109
12.2 ConocoPhillips, Company Overview 109
12.3 ConocoPhillips Business Description 109
12.3.1 Business Overview 109
12.3.2 Chemicals 110
12.3.3 Emerging Businesses 110
12.3.4 Exploration and Production 111
12.3.5 LUKOIL Investment 112
12.3.6 Midstream 113
12.3.7 Refining and Marketing 114
12.4 ConocoPhillips, SWOT Analysis 115
12.4.1 Overview 115
12.4.2 ConocoPhillips Strengths 115
12.4.3 ConocoPhillips Weaknesses 117
12.4.4 ConocoPhillips Opportunities 117
12.4.5 ConocoPhillips Threats 118
13 Financial Deals Landscape 120
13.1 Detailed Deal Summary 120
13.1.1 Acquisition 120
13.1.2 Private Equity 124
13.1.3 Venture Financing 125
13.1.4 Equity Offerings 126
13.1.5 Debt Offerings 130
13.1.6 Partnerships 132
13.1.7 Asset Transactions 132
14 Recent Developments 141
14.1 License Rounds 141
14.1.1 May 23, 2012: UK Receives 224 Applications For 418 Blocks In 27th Licensing Round 141
14.2 Strategy and Business Expansion 141
14.2.1 Feb 16, 2012: NETL And CTC Sign MoU To Facilitate Technology Transfer Between Federal Government And Shale Gas Industry 141
14.3 Other Significant Developments 142
14.3.1 May 25, 2012: Petro Matad Provides Operations Update 142
14.3.2 May 24, 2012: Awilco Drilling Provides Operations Update 145
14.3.3 May 22, 2012: Silvermere Energy Announces Preliminary Results For 2011 145
14.3.4 May 21, 2012: Total Confirms Success Of G4 Well Intervention At Elgin Platform In UK North Sea 145
14.3.5 May 18, 2012: Cadogan Petroleum Provides Operations Update 146
14.4 New Contracts Announcements 147
14.4.1 May 22, 2012: Sterling Resources Provides Q1 2012 Operations Update 147
14.4.2 May 21, 2012: Alderley Systems Wins Contract For BP Quad 204 FPSO Project 149
14.4.3 Apr 05, 2012: Valiant Petroleum Announces Rig Contract For Handcross Exploration Well 149
15 Appendix 151
15.1 Abbreviations 151
15.2 Methodology 151
15.2.1 Coverage 151
15.2.2 Secondary Research 152
15.2.3 Primary Research 152
15.3 Contact Us 152
15.4 Disclaimer 153
Table 1: United Kingdom, Historical and Forecast Production and Consumption of Oil, 2000-2020 13
Table 2: United Kingdom, Historical and Forecast Exports and Imports (Thousand Barrels Per Day) of Oil, 2000-2020 15
Table 3: United Kingdom, Historical Reserves of Crude Oil (Million Barrels), 2000-2011 17
Table 4: Western Europe, Investment Benchmarking, Overall Country Rankings, May 2012 20
Table 5: Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2012 21
Table 6: Western Europe, Investment Benchmarking, Oil Sector Performance, May 2012 23
Table 7: Western Europe, Investment Benchmarking, Economic Performance, May 2012 28
Table 9: Western Europe, Investment Benchmarking, Socio-Political Performance, May 2012 30
Table 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Governance Indices, May 2012 31
Table 11: United Kingdom, Crude Oil Key Statistics, 2011 33
Table 12: United Kingdom, Total Gross Crude Oil Production (MMBBLs), 2003-2011 34
Table 13: United Kingdom, Gross Crude Oil Production by Type (MMBBLs), 2003-2011 35
Table 14: United Kingdom, Gross Crude Oil Production (MMBBLs), by Major Assets, 2003-2011 36
Table 15: United Kingdom, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2003-2011 38
Table 16: United Kingdom, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2003-2011 39
Table 17: United Kingdom, Gross Crude Oil Production (MMBBLs), Forecast by Major Assets, 2012- 2016 41
Table 18: United Kingdom, Major Active Oil Field Asset Details 45
Table 19: United Kingdom, Planned Oil Field Asset Details 49
Table 20: United Kingdom, Number of Oil Discoveries, 2006- 2011 53
Table 21: United Kingdom, Oil Discovery Details, 2006-2011 54
Table 22: United Kingdom, Oil Discovery Details, 2006-2011 (Contd.1) 55
Table 23: United Kingdom FPSO Industry, FPSO Oil Production Capacities, May 2012 63
Table 24: United Kingdom FPSO Industry, FPSO Vessel Specifications, May 2012 64
Table 25: United Kingdom FSO Industry, FSO Oil Production Capacities, May 2012 65
Table 26: United Kingdom FSO Industry, FSO Vessel Specifications, May 2012 65
Table 27: United Kingdom, Pipeline Key Statistics May 2012 66
Table 28: United Kingdom, Crude Oil Pipeline Length by Company (Km), May 2012 66
Table 29: United Kingdom, Petroleum Product Pipeline Length by Company (Km), May 2012 67
Table 30: United Kingdom, Crude Oil Pipelines, May 2012 68
Table 31: United Kingdom, Crude Oil Pipelines, May 2012 (Contd.1) 69
Table 32: United Kingdom, Petroleum Product Pipelines, May 2012 70
Table 33: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.1) 71
Table 34: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.2) 72
Table 35: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.3) 73
Table 36: United Kingdom, Refinery Key Statistics May 2012 74
Table 37: United Kingdom, Total Refining Capacity (MMTPA), 2005- 2016 74
Table 38: United Kingdom, Refining Capacity by Company (MMTPA), 2005-2016 75
Table 39: United Kingdom, Crude Distillation Unit Capacity (MMTPA), 2005-2016 76
Table 40: United Kingdom, Crude Distillation Unit Capacity (MMTPA), 2005-2016 (Contd.1) 77
Table 41: United Kingdom, Coking Unit Capacity (MMTPA), 2005-2016 77
Table 42: United Kingdom, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2005-2016 78
Table 43: United Kingdom, Hydrocracking Unit Capacity (MMTPA), 2005-2016 78
Table 44: United Kingdom, Oil and Chemicals Storage Key Statistics, May 2012 79
Table 45: United Kingdom, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 79
Table 46: United Kingdom, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 81
Table 47: United Kingdom, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 82
Table 48: United Kingdom, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.1) 83
Table 49: BP p.l.c., Key Facts 84
Table 50: BP p.l.c., SWOT Analysis 92
Table 51: Royal Dutch Shell plc, Key Facts 97
Table 52: Royal Dutch Shell plc, SWOT Analysis 103
Table 53: ConocoPhillips, Key Facts 109
Table 54: ConocoPhillips, SWOT Analysis 115
Table 55: Parkmead Group To Acquire Deo Petroleum For $19.8 Million 120
Table 56: PTT Exploration and Production To Acquire Cove Energy For $1.96 Billion 121
Table 57: Taipan Resources To Acquire Lion Petroleum For $7 Million 123
Table 58: Carrizo Oil & Gas Plans To Sell Carrizo UK Huntington 124
Table 59: RiverStone Europe Plans To Acquire 50% Stake In Fairfield Energy From Warburg Pincus 124
Table 60: Falkland Oil & Gas Raises $0.9 Million In Venture Financing Round 125
Table 61: Iofina Completes Private Placement Of Shares For $6.8 Million 126
Table 62: Solo Oil Completes Private Placement Of Shares For $0.2 Million 127
Table 63: Salamander Energy Announces Rights Offering Of Shares For $212 Million 127
Table 64: Borders & Southern Petroleum Announces Private Placement Of Shares For $75 Million 129
Table 65: International Power Announces Public Offering Of 3.25% Convertible Bonds Due 2013 For $301.9 Million 130
Table 66: Afren Completes Private Placement Of 10.25% Senior Notes Due 2019 For $300 Million 131
Table 67: Premier Oil Enters Into Partnership With EnCounter Oil 132
Table 68: KUFPEC To Acquire 35% Interest In Alma And Galia Oil Fields In The UK North Sea From EnQuest For $500 Million 132
Table 69: Technip To Acquire Energy & Chemical Unit From Shaw Group For $287 Million 134
Table 70: Enquest To Acquire 50% Interest In Cairngorm License (Block 16/3d) From Sterling Resources In Swap Transaction 135
Table 71: Enquest To Acquire Additional 20% Interest In Kildrummy Discovery From Eni For $3 Million 136
Table 72: Antrim Energy To Acquire Additional 25% Interest In Fyne License From First Oil Expro 138
Table 73: EnQuest To Acquire Additional 15% Interest In Kraken Oil Discovery From First Oil 139
Table 74: Agora Oil & Gas Acquires Additional 20% Interest In Tybalt Prospect From Valiant Petroleum 140
Figure 1: United Kingdom, Energy Consumption Split By Fuel Type (%), 2011 11
Figure 2: United Kingdom, Oil Production And Consumption, Thousand Barrels Per Day, 2000-2020 14
Figure 3: United Kingdom, Historical and Forecasted Exports and Imports (Thousand Barrels Per Day) of Oil, 2000-2020 16
Figure 4: United Kingdom, Crude Oil Reserves (Million Barrels), 2000-2011 18
Figure 5: Western Europe, Country Standings, Upstream Fiscal Attractiveness, May 2012 22
Figure 6: Western Europe, Country Standings, Oil Sector Performance by Reserves-Exploration & Production, May 2012 24
Figure 7: Western Europe, Country Standings, Oil Sector Performance by Production-Consumption & Refining, May 2012 25
Figure 8: Western Europe, Country Standings, Exploration Blocks Awarded, May 2012 26
Table 8: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 28
Figure 9: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 29
Figure 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Governance Indices, May 2012 31
Figure 11: United Kingdom, Crude Oil Assets Map, May 2012 33
Figure 12: United Kingdom, Total Gross Crude Oil Production (MMBBLs), 2003-2011 34
Figure 13: United Kingdom, Gross Crude Oil Production by Type (MMBBLs), 2003-2011 35
Figure 14: United Kingdom, Gross Equity Weighted Crude Oil Production by Key Companies (MMBBLs), 2003-2011 39
Figure 15: United Kingdom, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2011 40
Figure 16: United Kingdom, Number of Oil Discoveries, 2006- 2011 53
Figure 17: United Kingdom, Crude Oil Pipeline Length by Company (Km), May 2012 67
Figure 18: United Kingdom, Petroleum Product Pipeline Length by Company (Km), May 2012 68
Figure 19: United Kingdom, Total Refining Capacity (MMTPA), 2005- 2016 75
Figure 20: United Kingdom, Refining Market Share (%) by Key Companies, 2011 76
Figure 21: United Kingdom, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 80
Figure 22: United Kingdom, Oil and Chemicals Storage Capacity by Area (%), 2011 80
Figure 23: United Kingdom, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 81
1 Table Of Contents
1 Table Of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 United Kingdom Energy Sector 11
2.1 United Kingdom Energy Sector, Market Overview 11
2.2 United Kingdom Energy Sector, Crude Oil 12
2.2.1 United Kingdom Crude Oil, Overview 12
2.2.2 United Kingdom Crude Oil, Supply and Demand Balance 12
2.2.3 United Kingdom Crude Oil, Regulatory Structure 18
2.2.4 United Kingdom Crude Oil, Infrastructure 19
3 The United Kingdom Oil Upstream Investment Environment Benchmarking 20
3.1 Introduction 20
3.2 The Overall Ranking 20
3.3 Upstream Fiscal Attractiveness 21
3.3.1 Maximum Government Take Index 22
3.3.2 Fiscal Flexibility 23
3.3.3 Maximum State Participation 23
3.4 Oil Sector Performance 23
3.4.1 Exploration Activity 25
3.4.2 Oil Production 26
3.4.3 Oil Reserves 26
3.4.4 Oil Consumption 27
3.4.5 Refining Industry 27
3.5 Economic Performance 27
3.5.1 GDP Growth Index 29
3.5.2 FDI Confidence Index 29
3.5.3 Balance of Trade Index 29
3.6 Socio-Political Performance 30
3.6.1 Democracy Index 32
3.6.2 Governance Index 32
4 United Kingdom Exploration and Production Sector 33
4.1 United Kingdom Exploration and Production Sector, Country Snapshot 33
4.1.1 United Kingdom Exploration and Production Sector, Key Data 33
4.1.2 United Kingdom Exploration and Production Sector, Crude Oil Assets Map 33
4.2 United Kingdom Exploration and Production Sector, Gross Crude Oil Production 34
4.2.1 United Kingdom Exploration and Production Sector, Total Gross Crude Oil-Historical Production 34
4.2.2 United Kingdom Exploration and Production Sector, Gross Crude Oil-Historical Production by Type 35
4.2.3 United Kingdom Exploration and Production Sector, Gross Crude Oil Production by Assets 36
4.2.4 United Kingdom Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 38
4.2.5 United Kingdom Exploration and Production Sector, Market Share of Key Companies Based on Gross Equity Weighted Crude Oil Production 39
4.3 United Kingdom Exploration and Production Sector, Production Forecast 41
4.3.1 United Kingdom Exploration and Production Sector, Gross Crude Oil Production Forecast 41
4.4 United Kingdom Exploration and Production Sector, Crude Oil Asset Details 45
4.4.1 United Kingdom Exploration and Production Sector, Active Crude Oil Asset Details 45
4.4.2 United Kingdom Exploration and Production Sector, Planned Crude Oil Asset Details 49
4.5 United Kingdom Exploration and Production Sector, Major Oil Discoveries 53
4.5.1 United Kingdom Exploration and Production Sector, Number of Oil Discoveries 53
4.5.2 United Kingdom Exploration and Production Sector, Oil Discovery Details 54
4.6 United Kingdom Exploration and Production Sector, Recent Discoveries 55
4.6.1 May 03, 2012: Valiant Petroleum Finds Oil At Orchid Exploration Prospect In Block 29/1c, UK 55
4.6.2 Apr 23, 2012: Borders & Southern Petroleum Discovers Gas Condensate At 61/17-1 Well In Falklands 55
4.6.3 Dec 13, 2011: Rockhopper Exploration Finds Hydrocarbons At 14/15-4 Well In PL004b, Falkland Islands 56
4.6.4 Nov 30, 2011: Antrim Energy Announces Oil Discovery At Erne Exploration Well 21/29d-11, UK North Sea 58
4.6.5 Nov 09, 2011: Canadian Overseas Petroleum Announces Oil Discovery At Esperanza Exploration Prospect In UK Central North Sea Block 22/15 59
4.7 United Kingdom Exploration and Production Sector, Drilling and Production Updates 59
4.7.1 May 29, 2012: Xcite Energy Provides Update On Bentley 9/3b-7 Well In UK 59
4.7.2 May 29, 2012: Bayfield Energy Provides Update On EG7 Well At Galeota License In Trinidad And Tobago 60
4.7.3 May 28, 2012: Ithaca Energy Commences Oil Production From Athena Field In UK 60
4.7.4 May 28, 2012: Valiant Petroleum Provides Update On Tybalt Appraisal Well In UK 60
4.7.5 May 18, 2012: EnQuest Provides Production Update 60
5 United Kingdom FPSO Industry 63
5.1 United Kingdom FPSO Industry, FPSO Capacity Details by Vessel 63
5.2 United Kingdom FPSO Industry, FPSO Vessel Specifications 64
6 United Kingdom FSO Industry 65
6.1 United Kingdom FSO Industry, FSO Capacity Details by Vessel 65
6.2 United Kingdom FSO Industry, FSO Vessel Specifications 65
7 United Kingdom Pipeline Sector 66
7.1 United Kingdom Pipeline Sector, Key Data 66
7.2 United Kingdom Pipeline Sector, An Overview 66
7.3 United Kingdom Pipeline Sector, Comparison of Key Crude Oil Pipeline Companies 66
7.4 United Kingdom Pipeline Sector, Comparison of Key Petroleum Product Pipeline Companies 67
7.5 United Kingdom Pipeline Sector, Crude Oil Pipelines 68
7.6 United Kingdom Pipeline Sector, Petroleum Product Pipelines 70
8 United Kingdom Refining Sector 74
8.1 United Kingdom Refining Sector, Key Data 74
8.2 United Kingdom Refining Sector, An Overview 74
8.2.1 United Kingdom Refining Sector, Total Refining Capacity 74
8.3 United Kingdom Refining Sector, Capacity Market Share by Company 75
8.4 United Kingdom Refining Sector, Crude Distillation Unit Capacity 76
8.5 United Kingdom Refining Sector, Coking Capacity 77
8.6 United Kingdom Refining Sector, Fluid Catalytic Cracking Capacity 78
8.7 United Kingdom Refining Sector, Hydrocracking Unit Capacity 78
9 United Kingdom Oil and Chemicals Storage Sector 79
9.1 United Kingdom Oil and Chemicals Storage Sector, Key Data 79
9.2 United Kingdom Oil and Chemicals Storage Sector, An Overview 79
9.2.1 United Kingdom Oil and Chemicals Storage Sector, Total Storage Capacity 79
9.2.2 United Kingdom Oil and Chemicals Storage Sector, Storage Capacity by Area 80
9.2.3 United Kingdom Oil and Chemicals Storage Sector, Capacity Market Share by Company 81
9.3 United Kingdom Oil and Chemicals Storage Sector, Storage Capacity by Terminal 82
10 Profile of BP p.l.c. 84
10.1 BP p.l.c, Key Information 84
10.2 BP p.l.c, Company Overview 84
10.3 BP p.l.c, Business Description 84
10.3.1 Business Overview 84
10.3.2 Exploration and Production 86
10.3.3 Other Businesses and Corporate 88
10.3.4 Refining and Marketing 89
10.4 BP p.l.c, SWOT Analysis 91
10.4.1 Overview 91
10.4.2 BP p.l.c. Strengths 92
10.4.3 BP p.l.c. Weaknesses 93
10.4.4 BP p.l.c. Opportunities 94
10.4.5 BP p.l.c. Threats 96
11 Profile of Royal Dutch Shell plc 97
11.1 Royal Dutch Shell plc, Key Information 97
11.2 Royal Dutch Shell plc, Company Overview 97
11.3 Royal Dutch Shell plc, Business Description 97
11.3.1 Business Overview 97
11.3.2 Corporate 99
11.3.3 Downstream 100
11.3.4 Upstream 101
11.4 Royal Dutch Shell plc, SWOT Analysis 102
11.4.1 Overview 102
11.4.2 Royal Dutch Shell plc Strengths 103
11.4.3 Royal Dutch Shell plc Weaknesses 104
11.4.4 Royal Dutch Shell plc Opportunities 105
11.4.5 Royal Dutch Shell plc Threats 107
12 Profile of ConocoPhillips 109
12.1 ConocoPhillips, Key Information 109
12.2 ConocoPhillips, Company Overview 109
12.3 ConocoPhillips Business Description 109
12.3.1 Business Overview 109
12.3.2 Chemicals 110
12.3.3 Emerging Businesses 110
12.3.4 Exploration and Production 111
12.3.5 LUKOIL Investment 112
12.3.6 Midstream 113
12.3.7 Refining and Marketing 114
12.4 ConocoPhillips, SWOT Analysis 115
12.4.1 Overview 115
12.4.2 ConocoPhillips Strengths 115
12.4.3 ConocoPhillips Weaknesses 117
12.4.4 ConocoPhillips Opportunities 117
12.4.5 ConocoPhillips Threats 118
13 Financial Deals Landscape 120
13.1 Detailed Deal Summary 120
13.1.1 Acquisition 120
13.1.2 Private Equity 124
13.1.3 Venture Financing 125
13.1.4 Equity Offerings 126
13.1.5 Debt Offerings 130
13.1.6 Partnerships 132
13.1.7 Asset Transactions 132
14 Recent Developments 141
14.1 License Rounds 141
14.1.1 May 23, 2012: UK Receives 224 Applications For 418 Blocks In 27th Licensing Round 141
14.2 Strategy and Business Expansion 141
14.2.1 Feb 16, 2012: NETL And CTC Sign MoU To Facilitate Technology Transfer Between Federal Government And Shale Gas Industry 141
14.3 Other Significant Developments 142
14.3.1 May 25, 2012: Petro Matad Provides Operations Update 142
14.3.2 May 24, 2012: Awilco Drilling Provides Operations Update 145
14.3.3 May 22, 2012: Silvermere Energy Announces Preliminary Results For 2011 145
14.3.4 May 21, 2012: Total Confirms Success Of G4 Well Intervention At Elgin Platform In UK North Sea 145
14.3.5 May 18, 2012: Cadogan Petroleum Provides Operations Update 146
14.4 New Contracts Announcements 147
14.4.1 May 22, 2012: Sterling Resources Provides Q1 2012 Operations Update 147
14.4.2 May 21, 2012: Alderley Systems Wins Contract For BP Quad 204 FPSO Project 149
14.4.3 Apr 05, 2012: Valiant Petroleum Announces Rig Contract For Handcross Exploration Well 149
15 Appendix 151
15.1 Abbreviations 151
15.2 Methodology 151
15.2.1 Coverage 151
15.2.2 Secondary Research 152
15.2.3 Primary Research 152
15.3 Contact Us 152
15.4 Disclaimer 153
List of Tables
Table 1: United Kingdom, Historical and Forecast Production and Consumption of Oil, 2000-2020 13
Table 2: United Kingdom, Historical and Forecast Exports and Imports (Thousand Barrels Per Day) of Oil, 2000-2020 15
Table 3: United Kingdom, Historical Reserves of Crude Oil (Million Barrels), 2000-2011 17
Table 4: Western Europe, Investment Benchmarking, Overall Country Rankings, May 2012 20
Table 5: Western Europe, Investment Benchmarking, Upstream Fiscal Attractiveness, May 2012 21
Table 6: Western Europe, Investment Benchmarking, Oil Sector Performance, May 2012 23
Table 7: Western Europe, Investment Benchmarking, Economic Performance, May 2012 28
Table 9: Western Europe, Investment Benchmarking, Socio-Political Performance, May 2012 30
Table 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Governance Indices, May 2012 31
Table 11: United Kingdom, Crude Oil Key Statistics, 2011 33
Table 12: United Kingdom, Total Gross Crude Oil Production (MMBBLs), 2003-2011 34
Table 13: United Kingdom, Gross Crude Oil Production by Type (MMBBLs), 2003-2011 35
Table 14: United Kingdom, Gross Crude Oil Production (MMBBLs), by Major Assets, 2003-2011 36
Table 15: United Kingdom, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2003-2011 38
Table 16: United Kingdom, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2003-2011 39
Table 17: United Kingdom, Gross Crude Oil Production (MMBBLs), Forecast by Major Assets, 2012- 2016 41
Table 18: United Kingdom, Major Active Oil Field Asset Details 45
Table 19: United Kingdom, Planned Oil Field Asset Details 49
Table 20: United Kingdom, Number of Oil Discoveries, 2006- 2011 53
Table 21: United Kingdom, Oil Discovery Details, 2006-2011 54
Table 22: United Kingdom, Oil Discovery Details, 2006-2011 (Contd.1) 55
Table 23: United Kingdom FPSO Industry, FPSO Oil Production Capacities, May 2012 63
Table 24: United Kingdom FPSO Industry, FPSO Vessel Specifications, May 2012 64
Table 25: United Kingdom FSO Industry, FSO Oil Production Capacities, May 2012 65
Table 26: United Kingdom FSO Industry, FSO Vessel Specifications, May 2012 65
Table 27: United Kingdom, Pipeline Key Statistics May 2012 66
Table 28: United Kingdom, Crude Oil Pipeline Length by Company (Km), May 2012 66
Table 29: United Kingdom, Petroleum Product Pipeline Length by Company (Km), May 2012 67
Table 30: United Kingdom, Crude Oil Pipelines, May 2012 68
Table 31: United Kingdom, Crude Oil Pipelines, May 2012 (Contd.1) 69
Table 32: United Kingdom, Petroleum Product Pipelines, May 2012 70
Table 33: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.1) 71
Table 34: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.2) 72
Table 35: United Kingdom, Petroleum Product Pipelines, May 2012 (Contd.3) 73
Table 36: United Kingdom, Refinery Key Statistics May 2012 74
Table 37: United Kingdom, Total Refining Capacity (MMTPA), 2005- 2016 74
Table 38: United Kingdom, Refining Capacity by Company (MMTPA), 2005-2016 75
Table 39: United Kingdom, Crude Distillation Unit Capacity (MMTPA), 2005-2016 76
Table 40: United Kingdom, Crude Distillation Unit Capacity (MMTPA), 2005-2016 (Contd.1) 77
Table 41: United Kingdom, Coking Unit Capacity (MMTPA), 2005-2016 77
Table 42: United Kingdom, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2005-2016 78
Table 43: United Kingdom, Hydrocracking Unit Capacity (MMTPA), 2005-2016 78
Table 44: United Kingdom, Oil and Chemicals Storage Key Statistics, May 2012 79
Table 45: United Kingdom, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 79
Table 46: United Kingdom, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 81
Table 47: United Kingdom, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 82
Table 48: United Kingdom, Oil and Chemicals Storage Capacity by Terminal (Thousand M3), 2005-2016 (Contd.1) 83
Table 49: BP p.l.c., Key Facts 84
Table 50: BP p.l.c., SWOT Analysis 92
Table 51: Royal Dutch Shell plc, Key Facts 97
Table 52: Royal Dutch Shell plc, SWOT Analysis 103
Table 53: ConocoPhillips, Key Facts 109
Table 54: ConocoPhillips, SWOT Analysis 115
Table 55: Parkmead Group To Acquire Deo Petroleum For $19.8 Million 120
Table 56: PTT Exploration and Production To Acquire Cove Energy For $1.96 Billion 121
Table 57: Taipan Resources To Acquire Lion Petroleum For $7 Million 123
Table 58: Carrizo Oil & Gas Plans To Sell Carrizo UK Huntington 124
Table 59: RiverStone Europe Plans To Acquire 50% Stake In Fairfield Energy From Warburg Pincus 124
Table 60: Falkland Oil & Gas Raises $0.9 Million In Venture Financing Round 125
Table 61: Iofina Completes Private Placement Of Shares For $6.8 Million 126
Table 62: Solo Oil Completes Private Placement Of Shares For $0.2 Million 127
Table 63: Salamander Energy Announces Rights Offering Of Shares For $212 Million 127
Table 64: Borders & Southern Petroleum Announces Private Placement Of Shares For $75 Million 129
Table 65: International Power Announces Public Offering Of 3.25% Convertible Bonds Due 2013 For $301.9 Million 130
Table 66: Afren Completes Private Placement Of 10.25% Senior Notes Due 2019 For $300 Million 131
Table 67: Premier Oil Enters Into Partnership With EnCounter Oil 132
Table 68: KUFPEC To Acquire 35% Interest In Alma And Galia Oil Fields In The UK North Sea From EnQuest For $500 Million 132
Table 69: Technip To Acquire Energy & Chemical Unit From Shaw Group For $287 Million 134
Table 70: Enquest To Acquire 50% Interest In Cairngorm License (Block 16/3d) From Sterling Resources In Swap Transaction 135
Table 71: Enquest To Acquire Additional 20% Interest In Kildrummy Discovery From Eni For $3 Million 136
Table 72: Antrim Energy To Acquire Additional 25% Interest In Fyne License From First Oil Expro 138
Table 73: EnQuest To Acquire Additional 15% Interest In Kraken Oil Discovery From First Oil 139
Table 74: Agora Oil & Gas Acquires Additional 20% Interest In Tybalt Prospect From Valiant Petroleum 140
List of Figures
Figure 1: United Kingdom, Energy Consumption Split By Fuel Type (%), 2011 11
Figure 2: United Kingdom, Oil Production And Consumption, Thousand Barrels Per Day, 2000-2020 14
Figure 3: United Kingdom, Historical and Forecasted Exports and Imports (Thousand Barrels Per Day) of Oil, 2000-2020 16
Figure 4: United Kingdom, Crude Oil Reserves (Million Barrels), 2000-2011 18
Figure 5: Western Europe, Country Standings, Upstream Fiscal Attractiveness, May 2012 22
Figure 6: Western Europe, Country Standings, Oil Sector Performance by Reserves-Exploration & Production, May 2012 24
Figure 7: Western Europe, Country Standings, Oil Sector Performance by Production-Consumption & Refining, May 2012 25
Figure 8: Western Europe, Country Standings, Exploration Blocks Awarded, May 2012 26
Table 8: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 28
Figure 9: Western Europe, Country Standings, Economic Performance, by GDP Growth-FDI Confidence and Production Indices, May 2012 29
Figure 10: Western Europe, Country Standings, Socio-Political Performance, by Exploration Growth- FDI Confidence and Governance Indices, May 2012 31
Figure 11: United Kingdom, Crude Oil Assets Map, May 2012 33
Figure 12: United Kingdom, Total Gross Crude Oil Production (MMBBLs), 2003-2011 34
Figure 13: United Kingdom, Gross Crude Oil Production by Type (MMBBLs), 2003-2011 35
Figure 14: United Kingdom, Gross Equity Weighted Crude Oil Production by Key Companies (MMBBLs), 2003-2011 39
Figure 15: United Kingdom, Market Share (%) of Key Companies based on Gross Equity Weighted Crude Oil Production, 2011 40
Figure 16: United Kingdom, Number of Oil Discoveries, 2006- 2011 53
Figure 17: United Kingdom, Crude Oil Pipeline Length by Company (Km), May 2012 67
Figure 18: United Kingdom, Petroleum Product Pipeline Length by Company (Km), May 2012 68
Figure 19: United Kingdom, Total Refining Capacity (MMTPA), 2005- 2016 75
Figure 20: United Kingdom, Refining Market Share (%) by Key Companies, 2011 76
Figure 21: United Kingdom, Total Oil and Chemicals Storage Capacity (Thousand M3), 2005- 2016 80
Figure 22: United Kingdom, Oil and Chemicals Storage Capacity by Area (%), 2011 80
Figure 23: United Kingdom, Oil and Chemicals Storage Capacity by Company (Thousand M3), 2005-2016 81
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