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
Tag: OSV Anchor Handler
Rigs report: global floater utilisation to hit 90% by 2024
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
Offshore oil, gas and renewables spending set to double to US$600Bn
Capital expenditure in oil and gas and offshore wind projects will rise significantly in the next five years… Read more in Riviera
Clean energy targets likely to drive further growth in turbine installation vessel market
Like other analysts, MSI expects a very strong shift from small offshore wind turbines to larger units in the coming decade, with turbines expected to reach a capacity of 20 MW or more. Read more in Riviera
Saudi Decision Will See Oil Markets Take a Bath
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
Collapse of OPEC+ and offshore market impacts
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
Malaysia upstream a ‘saviour’ for regional OSV owners
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
Oil report claims dry Barents Sea prospects discourage investment
The higher investment level on the Norwegian continental shelf will decline again next year, MSI have reported based on underwhelming exploratory drillings in the Barents Sea. Read more
The increasingly connected OSV
MSI’s Dr Ferenc Pasztor thinks dual-fuel OSVs could be ordered in niche opportunities, such as when the charterer has gas resources of its own. “It really will depend on what happens after the start of IMO 2020 because of the additional capex”, says Dr Pasztor. Read more
Fate of the idle fleet will shape OSV market’s recovery
MSI’s Ferenc Pasztor on the implications of oil price and OSV scrapping activity, published in OSJ. Read more here