Author Archives: atonkin

Oil & Gas Executives Address Deepwater Cost Reduction Strategies at MCE Deepwater Development 2017

atonkin | | Uncategorized

HOUSTON–(BUSINESS WIRE)–Industry Executives will discuss strategies to deliver Value, Efficiency & Flexibility in a cost challenged Deepwater market, April 3-5, 2017, during the 14th annual Deepwater symposium, MCE Deepwater Development 2017 (MCEDD) held at the NH Grand Hotel Krasnapolsky in Amsterdam. Interactive Special Sessions focused on “Leveraging Best Practices”, “Industry Collaboration” and “Novel Contracting Approaches” … Continue reading

Quest’s long-term subsea tree award forecast flat compared to May forecast

atonkin | | Subsea

Minor adjustments to Quest’s long-term subsea tree award forecast are applied as the oil price continues to fluctuate. The majority of the adjustments were made to the North Sea, the US GoM and Brazil. Cost concerns around North Sea projects continue to delay projects, marginal field development and infrastructure-led drilling are delayed in the US … Continue reading

What We Might See Over the Next Six Months

atonkin | | Subsea

With several potential awards in the pipeline for Q4 we could potentially see a “healthy mix” of those awards being distributed globally to all regions with a larger portion going to Africa/Med, Asia Pacific, and the North Sea. The majority (greater than 50%) of the steel awards will most likely go to Africa and Asia … Continue reading

Year To Date the Big 3 Continue To Lead in Steel

atonkin | | Subsea

From Q4 2013 to Q3 2014 “The Big 3” (Aker Solutions, Oceaneering, and Technip) continue to dominate the global steel subsea production umbilical market with a combined market share of ninety five percent of the total km (steel) awards and ninety six percent of the total dollars.

North Sea Faces Near-Term Softening of Subsea Demand

atonkin | | Subsea

Cost concerns around large greenfield developments in the North Sea have either put some projects on hold or changed their scope to no longer include subsea components. Where the subsea tree market is buoyed slightly by demand for brownfield activities (that may not require additional SPU or flowlines), the SPU outlook relies on greenfield subsea … Continue reading

Asia Continues to Face Economic and Geopolitical Issues

atonkin | | Subsea

There are a number of market factors affecting demand potential out of Asia. Most notably is the lack of activity of Australia. Contributors include, but are not limited to risk associated with local natural gas prices as the large gas fields require stable and agreeable natural gas prices to be commercial. Also, many of these … Continue reading

Brazil Demand Should Pick Up

atonkin | | Subsea

The award volumes for South America, namely Brazil, in 2013 and 2014e were the lowest since 2007. With the named projects underway, Quest expects Petrobras will need to significantly increase demand for SPU, especially for the pre-salt, in the next two years. It is understood that a large multi-year call-off is in process that will … Continue reading

Increased Brownfield

atonkin | | Subsea

Aker Solutions, OneSubsea, and FTI saw 80% of the subsea tree awards YTD 2014. Aker Solutions and FTI were awarded 70% of the subsea control modules and 80% of the subsea manifold orders in the first three quarters of the year. With the high dollar value of Aker’s win of Kaombo and the higher price … Continue reading

Africa Backlog of Developments Lends Strength to Overall Forecast

atonkin | | Subsea

Africa’s greenfield developments have, for the most part, demand high volumes of steel-tubed SPU and the industry has been waiting for a number of high profile projects to award. These developments include Shell’s Bonga SW, Cobalt’s Cameia, Anadarko’s Prosperidade, Eni’s Eastern Hub and Sankofa. Considering only these five developments, they represent almost 400 km of … Continue reading

Change in U.S. Gulf of Mexico Development Profile Adjusts km/Subsea Tree

atonkin | | Subsea

As the U.S. GoM focuses on oil developments, for the most part, Quest forecasts a reduced volume of long-distance subsea tiebacks of gas projects to shelf production hosts. The oil developments also tend to require more subsea trees than their gas counterparts, therefore Quest expects less volume of SPU is expected for each subsea tree … Continue reading

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