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John Westwood News

02 Mar 2018

Chainalytics and Drewry Partner to Create Ocean Buying Group

Chainalytics, a global leader in supply chain consulting, and Drewry, the global shipping consultancy, have partnered to launch an innovative ocean freight procurement solution for shippers. The Chainalytics Ocean Buying Group, in partnership with Drewry, will provide participating Beneficial Cargo Owners (BCOs) with enhanced purchasing power, service monitoring and cost transparency. The new strategic partnership delivers a pioneering ocean freight procurement platform that will enable medium and small scale importers and exporters to collaboratively achieve “big shipper” rates and terms direct with ocean carriers and benefit from shared intelligence for better commercial decisions.

30 Apr 2014

The History of Offshore Energy

Gracing the cover of the June 1, 1957 edition was a  “Huge Oil Drilling Barge” the Margaret which was one of the largest ever built at 300 ft. long, 200 ft. wide and 93 ft. high, capable of an operating depth of 65 ft. Margaret was built by Alabama Dry Dock & Shipbuilding Company for the Ocean Drilling and Exploration Company, New Orleans.

Offshore exploration is a history of man v. Prospecting for oil is a dynamic art. From a lake in Ohio, to piers off the California coast in the early 1900s, to the salt marshes of Louisiana in the 1930s, to the first “out-of-sight- of-land” tower in 1947 in the Gulf of Mexico, the modern offshore petroleum industry has inched its way over the last roughly 75 years from 100 ft. of water ever farther into the briny deep, where the biggest platform today, Shell’s Perdido spar, sits in 8,000 ft. of water. As a planet, we have two unquenchable thirsts – for water and for oil.

09 Oct 2013

ROV Work-Class Operations Expenditure to Grow 80%

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.

16 Apr 2013

Norwegian Embassy Reports on Asia Offshore Exploration and Production

Rising energy demand from Asia Pacific countries is a key factor driving the growth in regional offshore oil and gas exploration and production (E&P) activities. In response to this, The Royal Norwegian Embassy in Singapore, Innovation Norway in alliance with DNV and Norwegian Business Association (Singapore) is staging the Asia Offshore Technology Conference in Singapore. The conference will examine and draw practical conclusions about ‘The Challenges of Offshore E&P in Asia Pacific’. A specially commissioned report into the critical trends of the sector in the region will be unveiled at the half day event. The report, by consultants Douglas Westwood, was commissioned by leading Norwegian Classification Society Det Norske Veritas (DNV), Innovation Norway and the Norwegian Embassy, and Mr.

23 Feb 2012

Global AUV Fleet set to Increase Substantially

Douglas-Westwood: The AUV market will continue to be dominated by North American activity; Military and research sectors to have 90% market share by 2016. The global AUV fleet is increasing and demand for autonomous underwater vehicles is expected to show steady growth over the period to 2016 according to a new report by Douglas-Westwood. Report author Paul Newman commented, “Many of the factors in the drive to using unmanned military aircraft, the so-called ‘drones’ also apply to both military and civil subsea operations. “When Douglas-Westwood’s first World AUV Market Forecast was launched in 2004, 92 AUVs had been built; the new 4th edition identifies some 560 and forecasts an additional 370 units will be in use by 2016.

21 Oct 2011

Douglas Westwood: ROV Ops Spending to Reach $1.7 billion

Total annual expenditure on ROV support of underwater operations is expected to grow from $891 million in 2010 to $1,692 million in 2015. New research published by international energy business advisors Douglas-Westwood shows that the fundamental market drivers for the ROV business are in growth and this is likely to continue for the foreseeable future. Douglas-Westwood’s latest edition of the World ROV Market Forecast 2011-2015 details the market for the operation of work-class ROVs. Europe is the largest market by a small margin over Africa with its strong growth driven by deepwater oil & gas activity. The world fleet of work-class ROVs consists of 641 units operated by 21 companies and Oceaneering is by far the largest player with 241 units, 32% of the global total.

08 Sep 2011

Westwood: N. Sea Future is "Bright"

John Westwood, Chairman of energy business advisors Douglas-Westwood, addressing delegates at OceanTech Expo 2010. (Photo: Greg Trauthwein)

“Despite a long-term decline in oil & gas production in the North Sea, its services and support industry has a bright future,” said John Westwood, Chairman of energy business advisors Douglas-Westwood, in Aberdeen this week. Addressing a major event organized by the Norwegian British Chamber of Commerce on opportunities and challenges for the industry in the North Sea area, Westwood noted that the North Sea is a major world-class basin that for the past 40 years has delivered huge economic benefits to Norway and The UK. “However, oil & gas production is in decline,” he said.

06 Apr 2011

Douglas-Westwood Warns Congress on Chinese Oil & Gas Demand

In evidence to the US House of Representatives Subcommittee on Energy and Power’s hearing, April 4th, regarding the “The American Energy Initiative”, Douglas-Westwood LLP’s Managing Director, Steve Kopits, gave dire warnings about the likely development of China’s future energy demand. “China’s oil demand will likely keep pressure on oil prices for the indefinite future,” said Kopits. “China consumes 10 million barrels of oil per day (mbpd) on global consumption of about 88 mbpd. On supply Kopits stated, “China’s conventional oil fields are mature.

18 Nov 2010

$60.7B: Total Offshore Wind Spend

New research released by energy business analysts Douglas-Westwood reveals the world offshore wind market will see expenditure of $60.7B over the next five years. By 2015, annual expenditure will be in excess of $19B. With over 3GW of capacity online by the end of 2010 and a further 2GW under construction at present, the offshore wind industry is growing extremely quickly. Over the five year period to 2015, more than 11GW of new capacity will be installed. The UK, Germany and China are the three biggest markets, which together will install almost 9.3GW, or 83%, of total global capacity for the period. The UK will continue its position as the leading market for offshore wind through the next five years with over 4.4GW of new capacity coming online.

04 Nov 2010

$54.1b to be Invested in Offshore Wind, 2011-2015

New research released by energy business analysts Douglas-Westwood reveals the world offshore wind market will see expenditure of $54.1b over the next five years. By 2015, annual expenditure will be in excess of $17.1b. With over 3GW of capacity online by the end of 2010 and a further 2GW under construction at present, the offshore wind industry is growing extremely quickly. Over the five year period to 2015, more than 11GW of new capacity will be installed. The UK, Germany and China are the three biggest markets, which together will install almost 9.3GW, or 83%, of total global capacity for the period. The UK will continue its position as the leading market for offshore wind through the next five years with over 4.4GW of new capacity coming online.

08 Jul 2010

At SMM 2010 ‘Green’ Technologies Center Stage

Last month MR’s Henrik Segercrantz traveled to Hamburg for an exclusive preview of the SMM 2010 exhibition. The SMM international trade fair for shipbuilding, machinery and marine technology will take place in Hamburg, Germany, on 7-10 September. This year much focus will be on environment-friendly technologies and products. The supporting program for SMM 2010 will for the first time this year include the Global Maritime Environmental Congress (gmec), and the Offshore Dialogue, which will also look into maritime technologies for offshore mining and wind farms.

26 May 2010

Westwood Opens OTE ’10 in Newport

OceanTech Expo (OTE) 2010 opened the morning of Tuesday, May 25, 2010 in Newport, Rhode Island, with John Westwood, chairman of Douglas-Westwood delivering a powerful keynote speech detailing the tremendous opportunities, and challenges, surrounding the rapidly expanding ocean business. London-based Douglas-Westwood is one of the world’s leading authorities in the research, analysis and forecasting in more than 25 different marine sectors, including offshore oil and gas, ocean observation and the subsea vehicles market. “At the end of the day, the U.S. is the largest ocean industry market,” Westwood said. Westwood’s 45 minutes presentation kept the attention of the OTE delegation…

30 Aug 2009

Norway Targets $2t Int’l Oil & Gas Spend

Analysis of 19 target countries and 26 key onshore and offshore market sectors, ranging from land drilling equipment to offshore operations, has revealed that overall expenditure levels are expected to total $2t over the 2009-2013 period. These are amongst the key findings of a new report commissioned by Norwegian oil & gas partners INTSOK from energy business analysts Douglas-Westwood. Addressing over 300 delegates at INTSOK’s 8th annual International Business Days conference in Oslo, Douglas-Westwood Chairman, John Westwood, outlined his views on the current market turmoil, the prospects for recovery and the expected outcomes in terms of future industry expenditure.

11 Dec 2007

Skills Shortages Could Scupper UK Energy Plans

Surging demand for energy, an aging workforce and a lack of new entrants to the industry is combining to threaten delivery of the energy strategies of countries worldwide. Addressing delegates at the ‘People: The Real Energy in Oil & Gas’ conference in London, John Westwood, MD of energy business analysts Douglas-Westwood, cited the UK as likely to have particular problems with delivery of its power station replacement and renewable energy plans. “We are seeing an unprecedented demand for energy, driven by China in particular, at the same time as production of oil & gas is reducing in non-OPEC areas such as the UK North Sea. The result is oil prices at record levels and a surge in exploration & production activity, particularly in the Middle East.

17 Mar 2004

Report Examines ROV Growth

In a recent report, the energy & marine industry analysts Douglas-Westwood, has revealed that operations of cable controlled work-class remotely operated underwater vehicles (ROVs) is a business worth $600 million worldwide and this is forecast to grow to $725 million by 2008. The firm reported these results in ‘The World AUV & ROV Report,’ a new global business study published. In his keynote address to delegates at the ‘Advances in Technology for Underwater Vehicles’ conference in London today…

05 Apr 2004

News: Report Examines ROV Growth

In a recent report, the energy & marine industry analysts Douglas-Westwood, has revealed that operations of cable controlled 'work-class' remotely operated underwater vehicles (ROVs) is a business worth $600 million worldwide and this is forecast to grow to $725 million by 2008. The firm reported these results in 'The World AUV & ROV Report,' a new global business study published. In his keynote address to delegates at the 'Advances in Technology for Underwater Vehicles' conference in London, DWL's John Westwood said he expected this growth to mainly come from the oil & gas sector as increasing demand raises ROV utilization and day rates.

17 May 2004

Oil Prices: Heading Up?

“Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources” according to John Westwood of energy analysts Douglas-Westwood. “Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has 5 times the population and is industrialising rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

08 Jun 2004

Will Oil Continue Heading Up?

"Due to increasing demand and reducing reserves, oil prices currently at $40 are likely to soon enter a period of sustained rises resulting in a need to massively develop natural gas and renewable energy resources" according to John Westwood of energy analysts Douglas-Westwood. "Oil reserves are depleting and demand growing. Recent increases in oil demand from China, for example, are likely to accelerate. The average American consumes 25 times as much oil as the average Chinese yet China has five times the population and is industrializing rapidly. Vehicle growth in China is rising rapidly and this will cause global demand for oil to continue its increase.

07 Jul 2004

Feature: Offshore Drilling: 5-Year Projection is $189B

"Over the next five years it is expected that 15,000 offshore wells will be drilled worldwide, at a total cost of some $189 billion. Of these wells nearly 4,500 will be exploratory costing $75 billion, and around 10,500 will be development, costing $114bn. It is estimated that drilling and completion expenditure in 2003 was $36 billion. Spending levels are expected to grow somewhat over the next two years and then decline slightly, stabilising at about $37 billion per year." These are among the findings of the second edition of The World Offshore Drilling Report, published by Douglas-Westwood. The largest change that is forecast by the energy analysts is continuing growth in deepwater drilling (over 500 m water depth) which contrasts with a long-term decline in shallow water activity.

28 May 2002

Growth in Offshore Wind Projects in Prospect

A new study of the worldwide prospects for offshore renewable energy recently commissioned by the U.K.’s Department of Trade & Industry from energy analysts, Douglas-Westwood Associates (DWA), has identified 77 proposed offshore wind power projects totaling over 13,000 MW of generating capacity. In the opening address to delegates at the second annual ‘All-Energy Opportunities’ conference in Aberdeen, DWA partner John Westwood stated that prospects on screen had increased from 22 in 2001, to 77 in 2002 - “a remarkable growth in such a short period”. DWA analyst Katharine Evans said that their models indicated that if realized these projects could require some 4,000 km of underwater power cables.

08 Nov 2007

$100 Oil: Driving Deepwater Oil Services Boom

Deepwater is one of the few areas where good prospects of major oil finds still remain, and these are mainly outside the control of OPEC. In a note to clients today, John Westwood, MD of international energy analysts Douglas-Westwood said “over the past year the stock prices of a grouping of 10 companies with significant exposure to the sector (the Douglas-Westwood Deepwater Index) has risen by an average of 79% and one, Wellstream, by 157%”. Deepwater now accounts for almost 15% of total offshore oil and gas production, but over the next few years its total share relative to shallow-water output will grow, to around 20% of offshore production by 2011.

11 Oct 2007

Deepwater: $25B annually by 2012

A new study published today by analysts Douglas-Westwood The World Deepwater Market Report 2008-2012 forecasts that nearly $25 billion will be spent annually in deepwater capital expenditure by 2012. Speaking at the Deep Offshore Technology International Conference 2007, Stavanger, today, John Westwood, Douglas-Westwood MD commented that “the deepwater oil & gas industry is set for continued growth through to 2012, with over 30% growth forecast for the 2008-2012 period when compared with the previous five years. ”Deepwater oil production currently accounts for almost 15% of total offshore production, but over the next few years its share relative to shallow water output will grow – accounting for around 20% of offshore production by 2011.

26 Jun 2007

Russian Oil & Gas Service Boom

While the recent high-profile problems of the western oil majors’ adventures in Russia have occupied the attention of politicians, the giant Russian oilfield services industry continues to work delivering the products and services that produce the oil. Speaking at conferences in both London and St. Petersburg, executives from energy analysts Douglas-Westwood (DWL) outlined the scale of the opportunities available to investors. John Westwood, DWL managing director speaking at the SubseaTECH 2007 Conference in St. Addressing members of the Energy Institute in London, DWL’s assistant director Steve Robertson stated that, “the oilfield services industry has evolved rapidly in recent years, driven by operators’ increasing use of outsourced services and a move to Western business models.