Getting Offshore Fast: New Helicopter Market Forecast

By George Backwell
Friday, June 20, 2014
Offshore helicopter at work: Photo courtesy of Kvaerner

Douglas-Westwood (DW) forecasts $24 billion in expenditure on offshore helicopter services between 2014 and 2018, a 57% increase in comparison to the preceding five-year period. Western Europe will continue to account for the largest share of global expenditure, driven by both the extensive North Sea infrastructure and the preference towards using large helicopters.

Although Western Europe will continue to underpin the market over the forecast period, DW expect faster growth rates in Africa, Asia, Australasia and Latin America. A preference for local providers in some of these markets means that there are many regional specialists. As a consequence, the major helicopter operators have lower levels of participa- tion in these regions, with the notable exceptions of Brazil and Australia.

A major driver for growth in the offshore helicopter services market is the field development lifecycle. In the drilling phase, helicopter requirements are short-term requiring flexibility from the helicopter operator. In the production phase, long-term crew transfer support is required. As production continues to ramp up, particularly in deepwater regions, the drivers for a larger fleet of modern helicopters strengthen.

On a global basis the medium-type helicopter class accounts for close to 60% of total offshore helicopter service expenditure. Western Europe and Aus tralasia are exceptions, as buyers in these markets favour larger helicopters with increased range and carrying capacity.

Bristow and CHC remain the dominant players in the global market with activities in all key operating regions. These companies are focused on securing high value, long-term production support contracts. As a consequence the mature North Sea region continues to be their core market.

The next five years will be an important time for the industry as a new generation of medium-class helicopters such as the EC175 and AW189 are in- troduced. These models are highly efficient with the most advanced safety systems and are expected to perform well in the offshore arena.

However, due to the natural conservatism in the industry, it may take time before a critical mass of orders is achieved.

The full report is available for purchase via: www.douglas-westwood.com

Source: Douglas-Westwood, Energy Business Insight – World Offshore Oil & Gas Helicopter Market Forecast 2014-2018

 

Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Great Barrier Reef Kept Off UNESCO 'Danger' List

A heritage committee of the UNESCO cultural agency stopped short of placing Australia's Great Barrier Reef on an "in danger" list, but the ruling on Friday raised

World Refugee Crisis to Worsen with Climate Change

A historic 52 million people are fleeing conflict worldwide, a trend that will intensify over the next two decades because of climate change, International Rescue

EXG Wins CII SCALE Award

Express Global Logistics Pvt Ltd (EXG) won the Supply Chain and Logistics Excellence (SCALE) Award 2015 organized by CII (Confederation of Indian Industry).

Contracts

Unicom Selects the Ecochlor BWTS for 10 Tankers

Ecochlor, Inc. announced that Unicom Management Services (Cyprus) Ltd. (Unicom), acting for SCF Group, signed a 10-vessel agreement for the Ecochlor Ballast Water Treatment System (BWTS) in Limassol,

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

Offshore

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

Mexico Removes Bid Limit on Shallow Water Oil Tenders

Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening

Finance

US Oil Contango Vanishing as Supply Glut Shifts Abroad

The U.S. oil market is on the brink of returning to a more bullish footing known as backwardation for the first time in six months, with the discount for prompt

Mexico Removes Bid Limit on Shallow Water Oil Tenders

Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening

Wärtsilä Acquires L-3 MSI

Wärtsilä completes acquisition of L-3 Marine Systems International    Wärtsilä Corporation announced that its acquisition of the Germany based L-3 Marine Systems

Consulting

SENER holds a FORAN seminar in Wuhan, China

The ‘FORAN new modules, new functions and FEM-Link (Hypermesh) Seminar’ was held on April 23rd in Wuhan. SENER is playing a big role in China, where it has been

Fluxys LNG Launches Zeebrugge Capacity Consultation

Belgian gas infrastructure operator Fluxys said on Thursday it was launching a market consultation to assess demand for additional capacity at the Zeebrugge liquefied natural gas terminal in Belgium.

Fugro Extends Contract with McDermott

Fugro has been awarded a three-year extension to its existing contracts with McDermott Middle East, Inc. The contract covers the provision of survey, positioning,

Offshore Energy

Kongsberg Contracted to Support FLNG Conversion

Kongsberg Maritime secures position in the LNG market with electrical and automation contract for Golar Hilli FLNG   Keppel Shipyard in Singapore and Black & Veatch in the U.

Statoil Awarded Licenses Offshore Nicaragua

Statoil informs it was today awarded four licenses offshore the Nicaraguan Pacific, covering an area of about 16,000 km2 in the largely unexplored Sandino Basin.

Mexico Removes Bid Limit on Shallow Water Oil Tenders

Mexico's oil regulator voted on Friday to relax previously established rules on bidding terms and contracts that form the first step in an historic sector opening

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair 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: 0.2328 sec (4 req/sec)