Market Report to 2021
Fixed Platform Report to 2021
Floating Production Systems
Market Report to 2021
Market Report to 2020
The subsea market has faced a challenging period, with recent years characterised by increasing costs and delays, whilst the fall in global commodity prices has affected the economic viability of deep and ultra-deepwater developments; the mainstay of subsea capex demand.
Latin America and the Caribbean will continue to lead the global subsea market over the forthcoming five years, driven by the development of Brazil’s deepwater pre-salt discoveries. However, the region’s dominance of the global market is to reduce.
With costs rising across the sector, operators are now looking to equipment providers to deliver more cost efficient solutions. This is undoubtedly a challenging task, with greater collaboration and standardisation at the heart of future efficiency savings within the sector.
Development offshore Africa centres on the established deepwater Blocks offshore Angola and Nigeria where French IOC Total dominates development. Recent years has also seen Ghana emerge as a key country of capex demand.
Total has a geographically diverse portfolio and is the leading player in Africa, underpinned by world-class deepwater discoveries in Angola and Nigeria. Shell is expected to remain one of the key players within the market, driven by its focus on deepwater development.
FMC Technologies leads the global market with a focus on deep and ultra-deepwater developments offshore Brazil and the GoM. The company set a world record for the deepest subsea tree installation on the Tobago field in 2011 at a depth of 2,934 metres.
In the long-term, price risks are weighted towards the upside. A longer-than expected oil price downturn will cause systematic damage of existing infrastructure and exploration activity, limiting the sector’s capacity to meet upside demand in the coming years
Infield Systems’ analytical team has developed an advanced market modelling and forecasting system for the global offshore oil and gas industry utilising their wealth of experience of industry forecasting, research and data management. This is known as OFFPEX.