The subject of the research report is offshore projects in Russia and FSU countries in the Caspian Sea, the Sea of Azov, the Baltic Sea, in the Arctic and the Far East. 

Since 2005, RPI has analyzed on a regular basis the status of offshore projects and is republishing this report for the sixth time even though the last version of a report on offshore upstream projects was released in early 2014. 

In the interim since the last issue of the report, sweeping changes have taken place in the offshore E&P area, and these events have altered the plans of companies as well as our forecasts regarding the potential needs of the offshore market for processing facilities and materials, including seismic survey ships, drilling rigs, production platforms, and pipes for various purposes. 

These changes are largely the result of the sanctions imposed against Russia, as they are aimed primarily at constraining the development of offshore petroleum resources by banning Western oilfield services companies from collaborating with Russian E&P companies and restricting the supply of advanced processing facilities designed for deepwater and offshore Arctic operations. 

The Ukrainian crisis and the resulting well-known train of events surrounding the Republic of Crimea placed on the agenda the issue of state ownership of extensive offshore areas in the Black Sea and the Sea of Azov. The new status quo has essentially rendered null and void the agreements reached on delimitation of the offshore boundary between Russia and Ukraine. 

In addition, development of Kashagan, a gargantuan oil field in the Kazakhstan sector of the Caspian Sea, suffered another major setback in 2014. 

The confluence of the above factors prompted us unexpectedly to reconsider our plans about readdressing the topic of offshore petroleum production. 

As before, the report focuses on the forward-looking aspects of projects, including the implementation period, drilling volumes and need for platforms, since this is an approach that also makes it possible to evaluate the scope of the market for other kinds of oil and gas equipment. 

The report consists of three volumes: 
The Caspian Sea, Black and Azov Seas 1,600 euro  (80 000 RUB)
The Baltic Sea and Russian Arctic Seas 1,200 euro  (60 000 RUB)
Seas of the Russian Far East 1,400 euro  (70 000 RUB)

Each volume could be ordered separately.   

• An overview of current status of projects, including plans for implementation or termination

• Information about the intentions of certain players to join or pull out of projects 

• Forecast for 2015-2025 production of certain projects in terms of possible scenarios 

• Exploration and development drilling forecast from 2015 through 2025 in the context of projects, players and possible timing of drilling operations 

• Forecast of the need for seismic survey ships, oil rigs, production platforms and pipes for various purposes from 2015 through 2025

This research report offers an assessment of the current status of offshore projects in Russia and FSU countries, provides a forecast of the annual scope of drilling under the various projects, and quantifies the need for exploration vessels, offshore drilling rigs, production platforms and various types of pipes. 

Market research in that context seems to be the most expedient, as it gives an opportunity to understand how promising a certain exploration or production project is and when the need for a certain kind of equipment and oilfield service can be expected to emerge. 

This analysis may be of interest to seismic and drilling companies, suppliers of various drilling equipment, pipes and pipeline fittings, manufacturers of wellheads, and drilling fluids as it allows them to identify future needs for equipment and services in relation to the timing and volumes of possible supplies. 

This report contains important information on the state ownership of offshore areas located primarily in the Black Sea and the Sea of Azov, thus allowing potential investors and market players to evaluate the political risks associated with entering a certain project. 

The study provides information on the content of sanctions, enabling the reader to assess the potential for forming a partnership in financial and technological areas in the context of offshore field development. 

The forecasting approach employed in the study hinges on scenario analysis and is the most flexible tool available in monitoring the future status of the market. This approach allows the reader to gain an accurate picture of whether a certain exploration or production project will be most likely be implemented, thus making it easier to map out future actions and the consequences resulting from such actions.