Market Size of South America Deep Water and Ultra Deep Water Exploration & Production (E&P) Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.50 % |
Major Players_Market_-_Major_Players.webp)
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
South America Deep Water and Ultra Deep-Water Exploration & Production Market Analysis
The South American deepwater and ultra-deepwater exploration and production (E&P) market is expected to register a CAGR of more than 4.5% over the period of 2020-2025. Factors, such as improved viability of deepwater and ultra-deepwater projects and global demand for oil expected to witness an annual growth rate of 1.2 million barrels per day (mbd) till 2023, are likely to drive the market during the forecast period. However, volatile crude oil prices, instability in the oil and gas industry, and higher challenges in developing deepwater prospects are likely to affect the growth of the market.
- The deepwater oil and gas projects are the largest segment, and they are expected to witness a significant growth rate over the forecast period, owing to the upcoming deepwater exploration and production projects in Brazil, Argentina, etc.
- Factors, such as technological improvements and increasing viability of deepwater and ultra-deepwater projects, are actively promoting the development of deepwater and ultra-deepwater reserves. This, in turn, is expected to create significant opportunities for the operating countries of the region in the near future.
- Brazil is expected to be the largest market for the market studied.
