Offshore support vessel (OSV) owners will benefit from increased investment in the North Sea oil and gas sector, with some deferred projects being brought forward. High energy prices are driving oil and gas companies to expand their expenditure on new offshore projects, some involving billions of dollars of investment for deepwater projects.
Watch MSI Director James Frew’s interview at the recent OSJ conference with Riviera.
The region could be a key growth market for the oil and gas industry going forward. Improving sentiment surrounds energy market prospects offshore West Africa, the positive mood underpinned by higher oil prices, reformed regulatory frameworks in key markets including Angola and Nigeria and the discovery of major prospects off the Ivory Coast and Namibia writes Joshua Belo-Osagie from MSI. Read more at OEdigital.com
Prospects in South America, notably Brazil, are brightening both for floaters and offshore support vessels (OSVs), particularly for larger anchor handling tug supply (AHTS) and platform supply vessels (PSVs), according to MSI. Read more in Riviera Maritime Media
Drilling contractors and offshore service (OFS) providers should seek consolidation as soon as possible to secure their long-term future. This is one of the conclusions of Maritime Strategies International’s latest MODU Market Report. Read more in Seatrade
A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Gregory Brown, Maritime Strategies International. Read more
A sustained price war could see marginal projects delayed and hasten a predicted decline in new awards, writes Maritime Strategies International associate director offshore Gregory Brown. Read more
MSI’s Gregory Brown states that utilisation of floating drilling rigs (semi-submersible and drillships) is expected to rise over 70% in 2020. Jack-up rig utilisation is now climbing to more than 65%, statistics have shown. He foresees utilisation for anchor-handlers and PSVs will rise to 60% in 2020, a rise from 50% in 2017-18. Read more