It has been another large news week with articles appearing in magazines and the Oilfield Services Market Forecast garnering a lot of attention:
Mike Haney was quoted in March’s Offshore Engineer magazine:
“DW also expects a short-lived oil price downturn. The firm sees subsea CAPEX exceeding US$30 billion in 2015, dipping a bit over the next three years, but rising again in 2019 past $35 billion, Houston director Mike Haney told a recent energy industry luncheon.”
Offshore Enginner March 2015
A previous edition of Douglas-Westwood’s ROV Market Forecast was referenced in an article on the ROV market in Scandinavian Oil & Gas Magazines Jan-Feb issue:
“Meanwhile a report by Douglas-Westwood…showed that ROV expenditure was expected to more than double by the end of the period.”
Scandinavian Oil & Gas Magazine Jan/Feb 2015
Asian Oil & Gas also referenced the ROV Market Forecast:
“Before oil prices started to plunge, Douglas-Westwood predicted ROV operations expenditure to grow by 80% from 2013 to 2017, with Asia expected to be the third largest market.”
AOGDigital.com 25/03/2015 IKM Subsea wins ROV deal offshore APAC
The Oilfield Services Market Forecast was released late last week and appeared on a number of websites:
“Douglas-Westwood’s (DW) latest version of its quarterly The World Oilfield Services Market Forecast is tipping a steady growth in expenditure from US$216 billion in 2015 to $339 billion in 2019.”
PESA.com.au 22/03/2015 DW forecasts steady oilfield services growth to 2019
Drilling Contractor was another site to feature the report:
“In the long term, the shale boom in the US is likely to continue post oil price recovery, driving onshore North American OFS expenditure to over $130 billion in 2019 for the first time in history.”
DrillingContractor.org 25/03/2015 Douglas-Westwood: North America, Asia, Middle East to see recovery in onshore OFS expenditure post-2015
Offshore Magazine also referenced the report:
“DW’s outlook has changed markedly compared to previous quarters. DW says these are predominantly driven by significant revisions to drilling and production forecasts for key producers, delayed completions in the US, and deflation in day rates.”
Offshore-Mag.com 23/03/2015 DW sees steady increase in oilfield services spending
PennEnergy also had the report on their website:
“DW adds that despite the global macro situation appearing to have stabilized somewhat, large uncertainty still remains, further revisions are possible through the remainder of 2015.”
PennEnergy.com 23/03/2015 DW sees steady increase in oilfield services spending
TradeArabia was another site with an article on the OFS market forecast:
“DW’s new World Oilfield Services Market Forecast, pointed out that a particularly strong recovery in North America is expected, with OFS expenditure growing some $39 billion between this year and next, an increase of 63 per cent year-on-year.”
TradeArabia.com 25/03/2015 Mideast OFS spend to recover as oil prices rise
NOF Energy was another to cover the report:
NOFEnergy.co.uk 26/03/2015 Global Oilfield Services – A New Cycle Begins
Noodls featured the press release as well:
Noodls.com 24/03/2015 Global Oilfield Services – A new cycle begins
The Subsea Vessel Operations Market Forecast was also referenced this week:
“DW provides 13,500 days of operations, but Petrobras crisis can change the scenario. Expenditures for vessels to support subsea operations should reach $ 2.7 billion this year in Brazil, representing about 13,500 days of activities.”
EasySubsea.com 23/03/2015 Spending on subsea support vessels will reach $ 2.7 billion this year in Brazil
The FLNG Market Forecast was also referenced this week. With Norwegian site TU using the report in an article on LNG Tankers:
“The market for floating LNG plant operated by increased and very high costs for construction of onshore LNG plant and longer construction, writes Douglas Westwood World FLNG Market Forecast.”
TU.no 23/03/2015 Now the 40-year gas tankers get a brand new task
Website Engerati also referenced the FLNG market forecast:
“FLNGs have long been considered an attractive concept, and a recent report by Douglas-Westwood estimates the market to be worth US$64 billion between now and 2020.”
Engerati.com 25/03/2015 ABB To Support The Electrics of PETRONAS’ FLNG Facility
This week’s DW Monday appeared on Offshore Wind:
“At least nine floating projects are likely to come online by 2020, claims Douglas-Westwood.”
OffshoreWind.biz 23/03/2015 Floaters ‒ Game Changers for Offshore Wind?
