Growth in Offshore Ops & Maintenance Expenditure Forecast
Growth of 8% in expenditure forecast annually 2012-2016; O&M markets considerably less vulnerable to downturn than their capital-led counterparts. Over $335 billion worth of expenditure is expected over the next five years on offshore operations & maintenance according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, by Douglas-Westwood. Report author Jenny Harbour commented, “In 2011 demand for offshore operations & maintenance services totalled $52.5 billion, having grown at a compound rate of 6.3% over the past five years. Over the next five years we expect a greater compound growth of 8%, as the market recovers from the effects of the global downturn of 2008-2009.
Strong Growth Forecast for Offshore Operations & Maintenance
Over $335 billion worth of expenditure is expected over the next five years on offshore operations and maintenance, according to a new report, The World Offshore Operations & Maintenance Market Forecast 2012-2016, by Douglas-Westwood. “In 2011, demand for offshore operations & maintenance services totalled $52.5 billion, having grown at a compound rate of 6.3 percent over the past five years,” said Jenny Harbour, author of the report. “Over the next five years, we expect a greater compound growth of 8 percent, as the market recovers from the effects of the global downturn of 2008-2009. O&M markets are considerably less vulnerable to downturn than their capital-led counterparts.
