World Offshore Maintenance, Modifications & Operations Market Forecast 2015-2019 energy business insight e: [email protected]t: +44 (0)203 4799 505 www.douglas-westwood.com Aberdeen | Faversham | Houston | London | Singapore • Prospects • Technologies • Markets Kjell Andersen StatoilHydro Offshore MMO – From Slow to Grow In 2014, demand for offshore MMO services totalled $95bn for the world’s 8,061 offshore platforms. DW expect this to increase at a CAGR of 5.4% over the period 2015-2019, driven predominantly by ageing infrastructure requiring maintenance and modification to maintain current production levels in the face of growing global energy demand. Over the forecast period, $426.1bn is estimated to be spent on MMO relating to fixed platforms and $55.6bn on MMO of floating platforms. However, a 12% decline in MMO expenditure is expected in 2015. This is due to the delay of some major modi- fications by operators and a reduction as some aspects of MMO that are not directly associated to production are cut. Asia and North America will continue to be the market leaders in MMO expenditure with a com- bined share of 45% over the forecast period. Asia’s share is driven by a combination of increasing off- shore production platforms, and the move towards deepwater in less mature regions. Asset services, asset integrity and modifications markets are to be led by North America, whilst Asia has the largest support services spend over the forecast period. By sector, asset services accounts for the largest share of spend (57%), followed by modifications (27%). The World Offshore Maintenance, Modifications & Operations Market Forecast 2015-2019 analyses the demand for services in four key equipment and service lines: offshore asset services, asset integrity services, support services and modifica- tions. The new edition’s key themes are: • Drivers & indicators – a review of factors influencing the service lines including: off- shore fixed & floating platform population, population & GDP growth, the move to green energy, oil supply & demand, offshore oil & gas, natural gas, oil & gas challenges, politics & regulation and the asset lifecycle. • Service line analysis – for offshore asset services, asset integrity services, support ser- vices and modifications split out by service line, asset type and region with competitive landscape and detailed supply chain analysis. • Regional market analysis – expenditure by service line 2010-2019 with trend com- mentary and speed reads for Africa, Asia, Australasia, Eastern Europe & FSU, Latin America, Middle East, North America, Nor- way, UK and Rest of Western Europe.
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World Offshore Maintenance, Modifications & Operations Market Forecast 2015-2019energy business insight
Aberdeen | Faversham | Houston | London | Singapore
• Prospects• Technologies• Markets
Kjell Andersen StatoilHydro
Offshore MMO – From Slow to GrowIn 2014, demand for offshore MMO services totalled $95bn for the world’s 8,061 offshore platforms. DW expect this to increase at a CAGR of 5.4% over the period 2015-2019, driven predominantly by ageing infrastructure requiring maintenance and modification to maintain current production levels in the face of growing global energy demand.
Over the forecast period, $426.1bn is estimated to be spent on MMO relating to fixed platforms and $55.6bn on MMO of floating platforms. However, a 12% decline in MMO expenditure is expected in 2015. This is due to the delay of some major modi-fications by operators and a reduction as some aspects of MMO that are not directly associated to production are cut.
Asia and North America will continue to be the market leaders in MMO expenditure with a com-bined share of 45% over the forecast period. Asia’s share is driven by a combination of increasing off-shore production platforms, and the move towards deepwater in less mature regions. Asset services, asset integrity and modifications markets are to be led by North America, whilst Asia has the largest support services spend over the forecast period. By sector, asset services accounts for the largest share of spend (57%), followed by modifications (27%).
The World Offshore Maintenance, Modifications &
Operations Market Forecast 2015-2019 analyses
the demand for services in four key equipment
and service lines: offshore asset services, asset
integrity services, support services and modifica-
tions. The new edition’s key themes are:
• Drivers & indicators – a review of factors
influencing the service lines including: off-
shore fixed & floating platform population,
population & GDP growth, the move to
green energy, oil supply & demand, offshore
oil & gas, natural gas, oil & gas challenges,
politics & regulation and the asset lifecycle.
• Service line analysis – for offshore asset
services, asset integrity services, support ser-
vices and modifications split out by service
line, asset type and region with competitive
landscape and detailed supply chain analysis.
• Regional market analysis – expenditure by
service line 2010-2019 with trend com-
mentary and speed reads for Africa, Asia,
Australasia, Eastern Europe & FSU, Latin
America, Middle East, North America, Nor-
way, UK and Rest of Western Europe.
World Offshore Maintenance, Modifications & Operations Market Forecast 2015-2019energy business insight
Aberdeen | Faversham | Houston | London | Singapore
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Why purchase the World Offshore Maintenance, Modifications and Operations Market Forecast?
Our market forecasting is trusted by sector players worldwide, with clients including the world’s top-10 oil & gas companies, oilfield ser-vices companies and private equity firms. Our proven process includes:
• Unique and proprietary data – updated year-round from published sources and insight gained from industry consultation.
• Methodology – developed through a combination of primary data gathering and in-house analysis. We have utilised our own in-house databases to form the basis for the offshore models. Assumptions used to generate market demand are the result of our primary and secondary research. De-mand side analysis by service line provides a metric on which to establish future oppor-tunities and provide a context for market share assessment.
• Market forecasts – comprehensive ex-amination, analysis and ten-year view of maintenance, modifications & operations demand for key service lines, with historic data covering the period 2010-2014 and forecast data for 2015-2019.
• Concise report layout – consistent with DW’s commitment to delivering value for our clients, all our market forecasts have a concise layout consisting of industry back-ground and supporting materials condensed to enable quick review with ‘speed-read’ summaries of key points throughout.
• An essential report – for financial institu-tions, equipment manufacturers, offshore engineering, construction, operations & maintenance companies and contractors, drilling companies, oil & gas companies and government agencies & departments wanting to make more informed investment decisions.
ISBN 978-1-910045-15-2
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Africa ............................................................................................................................................. 53
Asia ................................................................................................................................................ 54
Rest of Western Europe ............................................................................................................ 61
UK .................................................................................................................................................. 62
9 Appendix .................................................................. 63Data and Text Conventions ...................................................................................................... 64
Figure 1: Global MMO Expenditure by Region 2010-2019 ......................................................................8
Figure 2: Global Average MMO Cost per Barrel vs Opex Inflation 2010-2019 ............................9
Figure 3: Total number of platforms by Region 2010-2019 ................................................................... 11
Figure 4: Global floating and fixed platforms by Region 2010-2018 ................................................. 11
Figure 5: Global Population Growth & Energy Demand, 1965-2014 ............................................... 12
Figure 6: Historic Primary Energy Demand by Region, 1965-2012 ................................................... 12
Figure 7: The Changing Energy Mix .................................................................................................................... 13