ROV Work-Class Operations Expenditure to Grow 80%

Marinelink.com
Wednesday, October 09, 2013

From 2013 to 2017 Douglas-Westwood (DW) forecast total ROV operations expenditure of approximately $9.7 billion (bn), an increase of nearly 80% over the previous five-year period ($5.4bn) in this sixth edition of the World ROV Operations Market Forecast.
 


Author, Kathryn Symes, commented, “Drilling support accounts for three-quarters of expenditure between 2013 and 2017, and is expected to increase over the period by 13%. DW forecast almost 527,000 days of ROV drilling support in the next five years, of which the majority is made up of work on exploration & appraisal wells. Expenditure on construction support accounts for a fifth of ROV operations, with repair & maintenance accounting for the remaining.


 
“Africa is forecast to experience strong demand from subsea development (DV) wells, driven by the discovery of new deepwater provinces offshore East Africa, and will remain the largest region, followed by Latin America and then Asia.

 

The Middle East has the lowest ROV spend, and along with Norway will see decline in spend. Latin America is set to show the strongest growth of all regions.”


 
Report editor, John Westwood, concluded, “As operators look to increase the profitability and efficiency of their subsea developments, there will be a surge of demand for exceptionally powerful work-class ROVs, able to perform the support work needed in an industry where new technologies and processes are vital.


 
“The move to ever deeper waters will drive demand for work-class ROVs and manufacturers will have to produce high specification models capable of performing at greater depths. Smaller manufacturers may find there are opportunities for them to move from the production of inspection class and light work-class ROVs into the market for heavy-duty work-class ROVs.”
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

News

Port of LA’s January Volumes Up 33%

704,398 TEUs leads Los Angeles to busiest January in port history    The Port of Los Angeles handled 704,398 Twenty-Foot Equivalent Units (TEUs) in January 2016,

42 People Rescued after Abandoning Ship off Hawaii

Forty-two people are safe after abandoning ship approximately 1,800 miles south of the Hawaiian Islands, Thursday, the U.S. Coast Guard reported.   Crewmembers

Yacht Club Takes Delivery of New Dredger

Rose City Yacht Club, a long-standing private marina and social club along the Columbia River in Portland, Ore., recently took delivery and startup of a new 8-inch Badger Class dredge from Reserve,

Vessels

OSD Designs Research Vessel for TORI

Offshore Ship Designers (OSD-IMT) has signed a new contract to design an IMT2001 Scientific Research Vessel for the Taiwanese Ocean Research Institute (TORI).    The

Sea IT, Veritas Tankers Ink Long-term Software Deal

Sea IT has entered a long term ICT agreement with Veritas Tankers. The agreement comprises installation of BlueCORE Generation 4, an ICT platform specifically developed for the marine industry,

Interior Facelift for Queen Mary 2

Cunard’s luxurious flagship, the iconic 2,620 passenger ocean liner Queen Mary 2, will undergo an interior refit at the hands of McCue Marine during a 25-day multimillion-pound

Unmanned Vehicles

NTSB to Search for El Faro’s Voyage Data Recorder

Second search mission to sunken El Faro seeks to locate missing voyage data recorder   The National Transportation Safety Board (NTSB) said it will initiate a

Neptune Awarded Kitan Contract

Neptune has been awarded an air diving services contract by Technip Oceania Pty Ltd (“Technip”) for the Kitan disconnection project. The project is offshore

FUGRO Wins BHP Pyrenees Contract

Fugro has been awarded a contract by BHP Billiton Petroleum Pty Ltd for the Pyrenees Phase 3 Installation Project.   The Pyrenees development is located offshore Western Australia,

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1147 sec (9 req/sec)