Your SlideShare is downloading. ×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market 2014-2024

1,622

Published on

Published in: Business
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
1,622
On Slideshare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
103
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. ©notice This material is copyright by visiongain. It is against the law to reproduce any of this material without the prior written agreement of vision- gain. You cannot photocopy, fax, download to database or duplicate in any other way any of the material contained in this report. Each pur- chase and single copy is for personal use only. Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024 Future Prospects for Leading Players
  • 2. www.visiongain.com Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024: Future Prospects For Leading Players Key areas covered in this report will include: • You will gain a comprehensive understanding of the Subsea Umbilicals, Risers & Flowlines (SURF) market, exploring how it will develop over the next decade, with detailed forecasts between 2014 and 2024. • You will receive CAPEX forecasts for the three SURF submarkets for 2014-2024: - Shallow Water SURF Submarket - Deepwater SURF Submarket - Ultra-Deepwater SURF Submarket • You will receive forecasts for the global SURF market as well as the following regional markets: - Europe - South America - Africa - The Gulf of Mexico - Asia-Pacific - The Rest of the World • You will also receive in-depth analysis of the SURF markets for the following countries and regions for 2014-2024: - Norway - UK - The Rest of Europe - Brazil - The Rest of South America - Angola - Republic of Congo - Egypt - Ghana - Nigeria - Mozambique and Tanzania - The US - Mexico - Australia - Brunei - China - India - Indonesia - Malaysia - Vietnam - Canada - The Middle East - The Caspian Sea - Trinidad & Tobago • The forecasts and analysis are underpinned by extensive expert consultation. The transcript for an original interview is included within the report with expert insight from EMAS AMC. • You will receive details on the top companies involved in the SURF market, as well as specific SURF component installers and manufacturers. - Aker Solutions - EMAS AMC - FMC Technologies - McDermott - Oceaneering - Saipem SpA - Subsea 7 SA - Technip • You will be able to study 127 tables, charts and graphs quantifying the SURF market over the period 2014-2024. • You will be provided with information on current and future projects in the SURF market as well as a PEST analysis. • You will be able to read of major recent SURF contracts awarded throughout the world.
  • 3. Page 97www.visiongain.com Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024: Future Prospects For Leading Players tendering or advanced planning phase. A detailed list of Brazilian FPSO projects is provided in Table 5.17 below. Vessel Name Owner Location (Field) Field Operator Status Earliest Operation CIDADE DE ITAJAÍ Teekay (50%), Odebrecht (50%) Santos (Baúna, Piracaba) Petrobras Completed – Construction began in 2011 Q1 2013 CIDADE DE SÃO PAULO (“FPSO 2”) MODEC, Schahin Group Santos (Guará) Petrobras Completed – Construction began in 2011 Q1 2013 CIDADE DE PARATY (“FPSO 3”) SBM Offshore (50.5%), QGOG, NYK Line, Itochu Santos (Lula North East) Petrobras Completed – Construction began in 2010 Q2 2013 P-63 (“PAPA TERRA”) BW Offshore Campos (Papa Terra) Petrobras Completed – Construction began in 2010 Q3 2013 P-58 Petrobras Campos (Parque de Baleias) Petrobras Under construction since 2010 Q4 2013 P-62 Petrobras Campos (Roncador) Petrobras Under construction since 2010 2014 CIDADE DE ILHABELA (“FPSO 4”) SBM Offshore (50.5%), QGOG, NYK Line, Itochu Santos (Sapinhoá North) Petrobras Under construction since H2 2012 H2 2014 CIDADE DE MANGARATIBA (“FPSO 5”) MODEC (85%), Schahin Group (15%) Santos (Cernambi South) Petrobras Under construction since 2012 Q4 2014 CIDADE DE ITAGUAÍ MODEC (85%), Schahin Group (15%) Santos (Iracema North) Petrobras Under construction since 2013 Q4 2015 Table 5.17 Current Brazilian FPSO Projects (Owner, Location, Field Operator, Status, Earliest Operation)
  • 4. Page 135www.visiongain.com Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024: Future Prospects For Leading Players 5.6 The Asia-Pacific SURF Market Forecast 2014-2024 Table 5.31, Figure 5.22 and Figure 5.23 display visiongain’s forecast for the Asian FPSO market over the next ten years. 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-24 CAPEX ($m) 769 804 863 881 765 726 763 811 861 918 1,001 1,174 9,566 AGR 4.5 7.4 2.1 -13.2 -5.1 5.2 6.3 6.2 6.6 9.0 17.3 2019-24CAGR (%) 2014-19 -1.0 9.0 CAGR (%) 2014-24 3.9 -15% -10% -5% 0% 5% 10% 15% 20% 0 200 400 600 800 1,000 1,200 1,400 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 AGR $m Year Source: Visiongain 2014 Table 5.31 Asia-Pacific SURF Market Forecast, 2014-2024 ($m, AGR %, CAGR%, Cumulative) Source: Visiongain 2014 Figure 5.22 Asia-Pacific SURF Market Forecast, 2014-2024 ($m, AGR%)
  • 5. Page 162www.visiongain.com Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024: Future Prospects For Leading Players 7. Expert Opinion 7.1 EMAS AMC EMAS AMC is a leading subsea construction and offshore installation services company. The company was formed after EMAS acquired Aker Marine Contractors (AMC) in 2011, and remains a core division of the wider EMAS company. EMAS are the operating of Ezra Holdings Ltd. EMAS AMC provide services in SURF, floater and mooring installation, power cable installation, pipelay and heavy lift operations. EMAS AMC has offices in Houston, Texas, Oslo, Norway and Singapore and retains over 300 experienced engineers and offshore operations personnel. Visiongain spoke to an EMAS AMC representative in March 2014, and would like to thank them for their insightful contribution to the report. 7.1.1 The Overall Global Subsea Market Trends Visiongain: Broadly speaking, what kind of trends are you witnessing in the global subsea market? EMAS AMC: We are seeing an increased subsea CAPEX spend globally. Overall, we consider subsea to be a very healthy market, but believe the high CAPEX costs will delay some larger projects. The market has recovered in the Gulf of Mexico, and this region is probably the healthiest market globally. Africa deepwater, no longer just West Africa, but now much of Africa, continues to see a lot of deepwater subsea activity. Asia-Pacific continues to grow, although Australia has become constrained by cost increases. Areas in Asia, for example, ENI’s Jangkrik project in Indonesia, have seen some of the largest subsea contracts to date. Brazil continues to be a large subsea market and we remain cautiously optimistic about North Sea work in Norway. The Norwegian government offers subsidies that the UK North Sea does not offer, to encourage exploration. As a result, we expect the Norwegian North Sea to remain healthier than the UK North Sea. 7.1.2 What are the Specific SURF Market Drivers? Visiongain: What would you say are the main drivers of the global SURF market? EMAS AMC: It differs by region. But, most notably, the major benefit/driver of the global SURF market is that production can be achieved in areas without mature pipeline infrastructure. Thus,
  • 6. Page 165www.visiongain.com Oil & Gas Subsea Umbilicals, Risers & Flowlines (SURF) Market Forecast 2014-2024: Future Prospects For Leading Players 8. Major Companies in the SURF Market 2014-2024 8.1 Aker Solutions 2013 Total company revenue $m $7,084m Revenue from subsea $m $2,234m % of revenue from subsea 32% Order Backlog $9,661m Employees 27,299 Headquarters Stavanger, Norway Ticker AKSO Website www.akersolutions.com 8.1.1 Aker Solutions Organisation and Services Aker Solutions is an oil & gas industry service, product and systems provider. Activities include engineering, design and technology provision. Aker Solutions are active in many countries globally, including Africa, the Americas, Asia-Pacific, the Middle East and Europe. In 2013, Aker Solutions order backlog was up around 9% at $9.6bn. Order intake was also up. Dividend per share had increased to $0.68. In particular, the subsea sector of the business hosts the largest proportion of sales, and its profit margin increased to 10.8%. Aker Solutions’ business areas are divided into subsea, drilling technologies, umbilicals and process systems in the product solutions sector, and maintenance, modifications and operations, and oilfield services and marine assets in the field-life solutions sector. Their revenue is provided in the below table: Table 8.1 Aker Solutions Overview (Total Revenue, Revenue from Subsea, % Revenue from Subsea, Order Backlog, Employees HQ, Ticker, Website) Source: Visiongain 2014

×