Oil and gas companies operating in Norway have raised their investment forecasts for 2019 to 175.3 billion Norwegian crowns ($20.6 billion) from 165.1 billion seen in August, a survey by the country's statistics agency (SSB) showed on Thursday…
A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country's energy agency said on Thursday after slashing its long-term oil production forecast.The Danish Energy Agency expects this year's oil production to reach 128…
ExxonMobil has down-manned facilities offshore Canada in advance of a winter storm expected to sweep through the area, says the Canada Nova Scotia Offshore Petroleum Board (CNSOPB). The National Oceanic…
In a sustained low oil price environment, operators are facing increased pressure to reduce costs and minimise risk when making a final investment decision (FID) on a project, resulting in many capital intensive offshore developments being shelved…
Douglas-Westwood (DW) forecasts deepwater expenditure to total US$137 billion from 2016-2020. This represents a 35% decline compared to DW’s previous edition of the deepwater forecast issued March 2015. The prolonged low oil price has impacted the deepwater market…
According to Douglas Westwood's new 'World Subsea Vessel Operations Market Forecast 2016-2020' report, the recent volatility of hydrocarbon prices, coupled with excessive newbuilding programs will result in low utilization impacting day rates and overall expenditure over the forecast period…
Douglas-Westwood (DW) forecast in their new World Offshore Accommodation Market Forecast that, during the period 2015 to 2020, demand for offshore accommodation vessels will average almost 42,000 personnel on board (PoB) per year, which represents…
Energy analysts Douglas-Westwood estimates in its World Floating Production Market Forecast that US$91 billion will be spent on FPSs during the period of 2013-2017. This marks a 100% increase over the previous five-year period, with the global CAPEX set to double…
In a new report, Visiongain values the global FLNG market at US$11.845 billion in 2014. They forecast strong expansion over the next five years, reaching peak levels of CAPEX in 2018. In the second half of the 10-year forecast, visiongain thinks that spending will decline slightly…
Douglas-Westwood (DW) has forecast that the global autonomous underwater vehicle (AUV) fleet will increase 42% during 2014-2018, compared to the previous five years. The fleet is forecast to total 825 units in 2018, led by strong demand in the military sector…
Douglas-Westwood’s latest World Floating Production Market Report forecasts that, during 2014-2018, US$99 billion will be spent on floating production systems – an increase of 138% over the preceding five-year period. Report author, Damilola Odufuwa…
Douglas-Westwood has released its 12th World Deepwater Market Forecast (2014-2018), suggesting that deepwater spend will surge from 2016 onwards. Deepwater expenditure is expected to increase by 130%, compared to the preceding five-year period…
The floating LNG (FLNG) market is poised for increased investment and activity from 2014 to 2020, with Douglas-Westwood forecasting total expenditure of US$64.4 billion in its new market report. Two-thirds of this spend is attributed to liquefaction infrastructure…
Other than economics, logistical planning is the heart of any major project. Weather can have a significant impact on project success or failure, and while it can’t be controlled, it can be managed, even in a relatively remote location. The…
BMT ARGOSS (BMT), a subsidiary of BMT Group Ltd, has secured a long-term contract to provide an oil major with weather forecasting services for all its North Caspian Sea operations, both offshore and onshore. The scope of BMT’s work includes…
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