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World Subsea Hardware Market Forecast 2013-2017

Subsea Hardware spend forecast to double to $124 billion

Douglas-Westwood forecast spend during 2013-2017 to double to $124 billion compared to the preceding five-year period. Deepwater activity is booming in the 'Golden Triangle'; Brazil, West Africa and the Gulf of Mexico, which is forecast to account for 44% of total subsea hardware expenditure. The downturn in offshore installation activity between 2009 and 2011 is being followed by strong recovery and this is expected to continue through to 2017.

Trunkline projects are of particular significance with major deepwater connections planned for, and extending beyond, the forecast period.

This report analyses the market through to 2017, examining the key activity trends to provide detailed insight for major players and new entrants alike.

This report notes that reducing conventional opportunities, high oil prices and more advanced subsea hardware solutions are resulting in fields being increasingly developed in deeper waters, in remote locations and in more extreme metocean conditions. In addition, the offshore industry is being challenged to recover smaller, more widely scattered reserves. The growing use of subsea processing technology, such as subsea separation, multi-phase pumping and gas compression, as an alternative to the use of fixed processing platforms will also tend to provide upside potential. Moves in the industry, particularly from operator BP, to develop 20,000 PSI technology could unlock fields that are currently inaccessible with existing hardware.

Table of Contents

1 Summary & Conclusions

  • Summary
  • Conclusions

2 Drivers & Indicators

  • Primary Energy Consumption
  • A Growing Focus on Offshore Reserves
  • Oil Prices
  • Gas Prices
  • Increasing E&P Costs
  • Deepwater

3 Subsea Development

  • Why Subsea?
  • Offshore Production Options
  • Subsea Production Hardware
  • SURF and Pipelines

4 Supply Chain

  • The Subsea Equipment Supply Chain
  • Subsea Production, SURF and Pipeline Competitive Landscape
  • Subsea Tree Market Trends

5 The Subsea Hardware Market Forecast

  • DW Demand Scenarios
  • Trends in Subsea Completions
  • Hardware Assumptions
  • Expenditure Forecasts
  • The World Subsea Hardware Market - Regional Analysis
  • The World Subsea Hardware Market - Water Depth
  • The World Subsea Hardware Market - Component Analysis
  • Africa
  • Asia
  • Australasia
  • Eastern Europe & FSU
  • Latin America
  • Middle East
  • North America
  • Norway
  • Rest of Western Europe
  • United Kingdom

6 Appendix

  • Data and Text Conventions

Figures and Tables

  • Figure 1: Global Expenditure by Region 2008-2017
  • Figure 2: Global Expenditure by Component 2008-2017
  • Figure 3: Primary Energy Consumption by Region
  • Figure 4: North Sea Oil Production (UK & Norway)
  • Figure 5: Global Oil Supply mix - Onshore/Offshore Split 1965-2020
  • Figure 6: Global Oil - Shallow/Deep Split 1965-2035
  • Figure 7: WTI & Brent Oil Price and Forecast
  • Figure 8: Natural Gas Price
  • Figure 9: Upstream Cost Index 2000-2012
  • Figure 10: Oil & Gas Production Increases, but Costs Surge
  • Figure 11: Deepwater Focus Areas
  • Figure 12: Vigdis Field is tied back to Snorre A, Norway
  • Figure 13: Gullfaks C stands up to NSea storm
  • Figure 14: Tyrihans field utilises cutting edge technology
  • Figure 15: Subsea Hardware Supply Chain
  • Figure 16: Visible Subsea Production Hardware Orders
  • Figure 17: Visible Subsea Production and Processing System Backlog
  • Figure 18: Medium Case (DW Case) - Subsea Tree Installations by Category
  • Figure 19: Subsea Tree Installations - High, Medium & Low Case
  • Figure 20: Subsea Completions 2003-2017
  • Figure 21: Subsea Completions by Water Depth
  • Figure 22: Global - Subsea Capex by Region
  • Figure 23: Global - Subsea Capex by Water Depth (metres)
  • Figure 24: Global Subsea Capex by Component
  • Figure 25: Africa - Subsea Capex by Component
  • Figure 26: Africa - Subsea Capex by Water Depth (metres)
  • Figure 27: Asia - Subsea Capex by Component
  • Figure 28: Asia - Subsea Capex by Water Depth (metres)
  • Figure 29: Australasia - Capex by Component
  • Figure 30: Australasia - Subsea Capex by Water Depth (metres)
  • Figure 31: Eastern Europe & FSU - Capex by Component
  • Figure 32: Eastern Europe & FSU - Subsea Capex by Water Depth (metres)
  • Figure 33: Latin America - Capex by Component
  • Figure 34: Latin America - Subsea Capex by Water Depth (metres)
  • Figure 35: Middle East - Capex by Component
  • Figure 36: Middle East - Subsea Capex by Water Depth (metres)
  • Figure 37: North America - Capex by Component
  • Figure 38: North America - Subsea Capex by Water Depth (metres)
  • Figure 39: Norway - Capex by Component
  • Figure 40: Norway - Subsea Capex by Water Depth (metres)
  • Figure 41: RoWE - Capex by Component
  • Figure 42: RoWE - Subsea Capex by Water Depth (metres)
  • Figure 43: United Kingdom - Capex by Component
  • Figure 44: United Kingdom - Subsea Capex by Water Depth (metres)
  • Table 1: Subsea Production and SURF Competitive Landscape
  • Table 2: Pipeline Competitive Landscape
  • Table 3: Global Subsea Capex by Component
  • Table 4: Africa - Subsea Capex by Component
  • Table 5: Africa - Subsea Components
  • Table 6: Asia - Subsea Capex by Component
  • Table 7: Asia - Subsea Components
  • Table 8: Australasia - Capex by Component
  • Table 9: Australasia - Subsea Components
  • Table 10: Eastern Europe & FSU - Capex by Component
  • Table 11: Eastern Europe & FSU - Subsea Components
  • Table 12: Latin America - Capex by Component
  • Table 13: Latin America - Subsea Components
  • Table 14: Middle East - Capex by Component
  • Table 15: Middle East - Subsea Components
  • Table 16: North America - Capex by Component
  • Table 17: North America - Subsea Components
  • Table 18: Norway - Capex by Component
  • Table 19: Norway - Subsea Components
  • Table 20: RoWE - Capex by Component
  • Table 21: RoWE - Subsea Components
  • Table 22: United Kingdom - Capex by Component
  • Table 23: United Kingdom - Subsea Components
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