A Pivotal Year for AUVs in the Oil & Gas Sector
systems, and have proved to be an optimum solution in harsh environments (deepwater and under-ice). Although shallow water exploration & production E&P will remain dominant during the next five years, most commercial demand for AUVs is expected to come from deepwater in the ’golden triangle’, of Brazil, Gulf of Mexico (GoM) and West Africa. Deepwater Capex is expected to double over the next five years, with $260 billion to be invested as the market continues to recover from the global economic downturn. Meanwhile, growth in maintenance markets is a key indicator for Life
The Rise of the Work-class ROV Market
demand driver, accountable for 75% of the total expenditure between 2013-2017. Construction support accounts for 20% and repair and maintenance (R&M) for 4%. The largest regional market is expected to be Africa, with Latin America, North America and Asia also important players. The ‘Golden Triangle’, comprised of Brazil, the Gulf of Mexico and Africa, is forecast to account for the majority of global ROV demand, but Asia will see significant growth. Global ROV Supply The current industry structure is the result of many mergers and acquisitions over more than 30 years. The world
Increase in Demand for the Hot Subsea Vessel Market
increase more than 40% by 2017. High spec flexlay dayrates are expected to remain similar and low spec decrease marginally. Pipelay vessel rates are expected to increase by up to 8% for high spec, whilst light well intervention vessel (LWIV) rates are anticipated to increase slightly. The deepwater Golden Triangle (Africa, GoM and Brazilian areas) is expected to account for the majority of global expenditure on vessel operations over the forecast period. North America is forecast to be the largest market followed by Latin America and Africa. Drivers and Indicators Global energy demand has grown significant
February 2024
