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2004 World Yearbook Tcm, almost double oil resources in oil equivalent terms. Russia holds the largest share but a significant portion is also located in the Middle East. "Global production of natural gas, currently some 2.600 Bern, is expected to grow to 4.755 Bern per year by 2025 an average increase of 2.75% per annum. Estimates of capital required for its exploitation range between $25bn to $40bn per year. Considering LNG alone, we expect over $39 billion to be spent over the next five-year period on LNG plants, carriers and import terminals." For additional details on this report as JUE-410F Inmarsat Fleet F77 Mobile Earth Station Multi-interfacing; mobile packet and high-speed data service capability; antenna of unique, robust design well as other reports from Douglas- Westwood Circle 19 on Reader Service Card Floating Production: The $8 Billion Market One hundred and twenty floating pro- duction systems are forecast to be installed over the next five years involv- ing capital expenditure estimated to be $32 billion, according to the study The World Floating Production Report from Douglas-Westwood. (see chart previous page) "Annual capital expenditure on floating production systems is set to exceed $8 billion, with a predicted 84 FPSOs accounting for some 68% of investment over the next five years," said Steve Robertson, the study's main author. "The overall picture is one of strong market growth from 2004 onwards, with annual global expendi- ture in the FPS sector rising from an estimated $4.8 billion in 2004 to reach $7.8 billion in 2008. An expenditure peak is expected in 2007, when the annual spend is expected to reach $8.3 billion. "In terms of the total market, and counting floaters of all types, we expect West African expenditure to lead at some $10 billion over the next five years. Although Brazil will see a strong surge in investment. North America will also see good growth and is likely to be in second place with a forecast spend of over $7 billion. "The other main characteristic of the market will be the continuing shift to deepwater" said Robertson. "We fore- cast that 70% of the global spend will be on floaters moored in water depths of 500 metres or greater." "Over the past five years the deepwa- ter market was dominated by the US Gulf of Mexico and Brazil which together accounted for over 75% of the total spend. "The market distribution for the 2004- 2008 period is markedly different, the main change being the high growth in the value of deepwater activity off the west coast of Africa. We forecast Capex of $8.5 billion associated with deepwa- ter FPS installations here, making the region the world's leading deepwater FPS theatre. All the other regions will also see increases in deepwater FPS activity, with North America's spend ris- ing to $7.0 billion (31% of the global deepwater total), and Latin America's to $4.9 billion. Australia looks set to see its first deepwater deployment, with Woodside's Enfield FPSO installation forecast for 2006. Off Asia a total of iy is JRC a name in the field of marine electronics? Because of our state-of-the-art technologies and knowhow developed over many years. We offer a host of advanced and reliable systems and equipment: ARPA/radar that will ensure your safe navigation, ECDIS to make your bridge operations more convenient, satellite communications to enable seamless offices, and radio equipment to assist your oceangoing life. J MA-900 Series Chart RADAR Unique ARPA/radar with chart functions; 23-inch color LCD JAN-901 / 701 Series ECDIS Economically designed, multi-functional display; 23/18-inch color LCD JHS-182 Automatic Identification System Large 6-inch screen; transponder integrated with GPS/VHF; expandable interfacing for radar/ECDIS JRC] gapan Radio Co.,ltd. Visit www.jrc.co.jp Circle 320 on Reader Service Card 36 Maritime Reporter & Engineering News
