Infield Systems’ Neda Djahansouzi gives a flavor of the forecasted fixed platform market in 2017-2021, while we let some figures speak for themselves.
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Sources: Infield Systems |
Over the past two years the offshore sector has undergone an extremely challenging period and the fixed platform market has been no exception to this.
Infield Systems’ Global Fixed Platform Report to 2021 expects the fixed platform market to comprise 13% of total offshore expenditure during the 2017-2021 timeframe.
The report, which highlights key trends within the fixed platform market over the next five years; including expected capex and installations globally, demand drivers and contract activity, sets out a shifting picture, as traditional markets give way to lower cost basins.
A diminishing US Gulf of Mexico, North Sea and parts of Southeast Asia account for a shift in the fixed platform market from its traditional Europe- and Asia-driven markets, to activity increasing in non-core, low-costing geographies, including Vietnam, Russia, Venezuela and Iran.
Despite this, Asia and Europe will continue to lead the global fixed platform sector in terms of capex spend, over the next five years, driven largely by the development of Statoil’s Johan Sverdrup field, one of the five largest oil fields on the Norwegian Continental Shelf.
In Asia, demand is underpinned by shallow water activity in Malaysia and Vietnam towards the end of the forecast, as well as increased demand in China between 2019-20, because of investment in CNOOC’s Lingshui and Peng Lai developments.
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