The Global deepwater market is strengthening according to Quest Offshore Resources Inc.'s soon to be published Global Subsea Production Umbilical Report. The majority (65%) of identified forecast subsea wells across the globe are in deepwater (greater than 0-1,650 FSW (0-500 MSW)). With respect to ultra-deepwater subsea production, the present share of forecast subsea trees worldwide over 3,437 FSW (Feet Sea Water) or 1,200 MSW (Meters Sea Water) is 39%. Of the remaining subsea wells forecast over the next six years, 26% are planned for installation in 1,650-3,960 FSW (501-1,200 MSW) and 35% in 0-1,650 FSW (0-500 MSW). The market for subsea trees is strong with a significant number of contract awards for subsea production trees materializing over the last 12 months. As illustrated in Fig.