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Remotely Operated Vehicles (ROV) in the Energy Industry 2014 2024
 

Remotely Operated Vehicles (ROV) in the Energy Industry 2014 2024

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For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website ...

For an Executive Summary of this report please contact ediz.ibrahim@visiongain.com (+44 (0)20 7549 9976) or refer to our website http://www.visiongain.com/Report/1171/Remotely-Operated-Vehicles-%28ROV%29-in-the-Energy-Industry-2014-2024

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    Remotely Operated Vehicles (ROV) in the Energy Industry 2014 2024 Remotely Operated Vehicles (ROV) in the Energy Industry 2014 2024 Document Transcript

    • Remotely Operated Vehicles (ROV) in the Energy Industry 2014-2024 ©notice This material is copyright by visiongain. It is against the law to reproduce any of this material without the prior written agreement of visiongain. You cannot photocopy, fax, download to database or duplicate in any other way any of the material contained in this report. Each purchase and single copy is for personal use only.
    • Chapters 1. Executive Summary 1.1 Global ROV Market Overview 1.2 Benefits of This Report 1.3 Who is This Report For? 1.4 Methodology & Market Definition 1.5 Global ROV Market Forecast 2014-2024 1.6 Regional ROV Market Forecasts 2014-2024 1.7 Global AUV Market Forecast 2014-2024 2. Introduction to the ROV Market 2.1 Remotely Operated Vehicles in the Energy Industry 2.2 Brief History of ROVs 2.3 Types of ROV 2.4 ROV Tasks in the Energy Industry 2.5 ROVs in the Energy Market: Market Definition and Structure 3. Global Market Forecast for ROVs in the Energy Industry 2014-2024 3.1 What Are the Core Drivers and Restraints Affecting CAPEX on ROV Operations, Services and Construction Worldwide? 3.2 What Activity Type is Currently the Most Important to Spending on ROVs? 3.3 ROV Demand Cycle 3.4 What Are The Most Prominent Regional Trends In The Energy Industry Affecting CAPEX On ROVs? 4. ROV Submarket Forecasts 2014-2024 4.1 Global ROV Operations/Services Submarket 2014-2024 4.1.1 How Will Offshore Oil and Gas E&P Activity Affect ROV Utilisation Rates? 4.1.2 How Much Demand Growth is Expected for Offshore Maintenance/Inspection Activity and What Impact Will This Have on ROV Demand? 4.1.3 How Does the Decommissioning Market Affect the ROV 4.1.4 What Are The Main Restraints on the ROV Operations and Services Submarket? www.visiongain.com
    • Chapters 4.2 Global CAPEX on New Build ROVs 2014-2024 4.2.1 Drivers and Restraints on ROV New Build CAPEX 4.2.2 Who Manufactures ROVs? 4.2.3 Which Regions Contain Dominant ROV Manufacturers and Why? 4.2.4 How Likely Is It That There Will Be An Increase in the Regional Diversity of ROV Construction? 4.3 Global CAPEX on New Build Observation, Inspection and Light Work Class ROVs for the Energy Industry 4.4 Global CAPEX on Medium- and Heavy-Work Class ROVs for the Energy Industry 5. Regional ROV Market Forecasts 2014-2024 5.1 ROV Markets Barriers to Entry Analysis 5.1.1 Regional Markets Barriers to Entry Analysis 5.1.2 What Are The Barriers to Becoming a Manufacturer and/or Operator of an ROV(s)? 5.1.3 ROV Submarket Barriers to Entry Analysis 5.2 ROVs in the European Energy Industry Market Forecast 2014-2024 5.2.1 Drivers and Restraints on the European ROV Market 5.2.2 Major European Subsea Hardware Installation and Offshore Drilling Projects 5.2.3 How Great Will Offshore Maintenance Requirements Be in Europe? 5.2.4 How Important is Offshore Decommissioning to ROV Demand in Europe? 5.2.5 UK Offshore Decommissioning 5.2.6 Norwegian Decommissioning 5.2.7 Will A Slowdown in Offshore E&P Activity to Affect European ROV Demand? 5.3 ROVs in the North American Energy Industry Market Forecast 2014-2024 5.3.1 Drivers and Restraints on the North American ROV Market 5.3.2 Major North American Subsea Hardware Installation and Offshore Drilling Projects 5.3.3 What Influence Will Safety Regulations Have on ROV Demand in the Gulf of Mexico? 5.3.4 What Will The Impact of Mexican Constitutional Changes Be On ROV Demand? 5.3.5 What Impact Will Decommissioning Activity In The Gulf of Mexico Have On The North American ROV Market? 5.4 ROVs in the South American Energy Industry Market Forecast 2014-2024 5.4.1 Drivers and Restraints on the South American ROV Market 5.4.2 Major South American Subsea Hardware Installation, FPSO Installation and Offshore Drilling = Projects 5.5 ROVs in the African Energy Industry Market Forecast 2014-2024 5.5.1 Drivers and Restraints on the African ROV Market 5.5.2 Which Offshore Spaces Around Africa Will See The Greatest Increase in ROV Demand www.visiongain.com
    • Chapters 5.5.3 Major African Subsea Hardware Installation and Offshore Drilling Projects 5.5.4 Challenges To The Development of an East African Offshore Industry 5.6 ROVs in the Asia Pacific Energy Industry Market Forecast 2014-2024 5.6.1 Drivers and Restraints on the Asia-Pacific ROV Market 5.6.2 Major Asia Pacific Subsea Hardware Installation and Offshore Drilling Projects 5.6.3 How Important is Decommissioning Activity in the Asian Pacific Region to ROV Spending? 5.7 Market Forecast for ROVs in the Energy Industry of the Rest of the World 2014-2024 5.7.1 Major Subsea Hardware Installation and Offshore Drilling Projects in the Rest of the World 6. Autonomous Underwater Vehicles in the Energy Industry 6.1 Autonomous Underwater Vehicles (AUVs) 6.2 Global Market Forecast of AUVs for the Energy Industry 2014-2024 6.2.1 Amount of AUVs Utilised in by the Energy Industry 6.2.2 Global Drivers & Restraints on AUV Use by the Energy Industry 6.2.3 AUV CAPEX vs. ROV CAPEX 7. PEST Analysis of the ROV Market 2014-2024 8. Expert Opinion 8.1 Saab Seaeye 8.1.1 Saab Seaeye in the ROV Market 8.1.2 The Evolution of the ROV/AUV Markets 8.1.3 Improving HSQE Standards Offshore and the ROV Market 8.1.4 Are ROVs Becoming Increasingly Specialised Or Is Their Functionality Range Increasing? 8.1.5 What Are The Reasons For An ROV To Be Retired? 8.1.6 What Limitations Are There On The ROV Market? 8.1.7 ROV Price Variability 8.1.8 How Sector Specific Are ROVs? 8.1.9 Innovation in the ROV Industry 8.1.10 Will Any One Type of ROV Be In Particularly Strong Demand Going Forward? 8.1.11 Are There Any ROV Manufacturers Outside of Europe and North America? www.visiongain.com
    • Chapters 8.1.12 Asian Pacific Competition in the ROV New Build Market 9. Leading Companies in the ROV Market 9.1 New Build ROV Manufacturers 9.1.1 Forum Energy Technologies 9.1.1.1 Future Outlook 9.1.1.2 Relevant Merger & Acquisition Activity 9.1.2 Saab Seaeye Overview 9.1.2.1 Future Outlook 9.1.3 Schilling Robotics Overview 9.1.3.1 Schilling Becomes Part of FMC Technologies 9.1.3.2 Future Outlook 9.1.4 Soil Machine Dynamics (SMD) Overview 9.1.4.1 Future Outlook 9.1.5 VideoRay Overview 9.1.5.1 Future Outlook 9.2 New Build ROV Manufacturers & ROV Service Providers/Operators 9.2.1 Fugro Overview 9.2.1.1 Future Outlook 9.2.2 Hallin Marine Overview 9.2.2.1 Future Outlook 9.2.3 IKM Gruppen (IKM Subsea) Overview 9.2.3.1 Future Outlook 9.2.4 Oceaneering International Inc. Overview 9.2.4.1 Future Outlook 9.2.4.2 Drill Support and the MODU Market 9.2.5 Subsea 7 S.A. (incl. i-Tech) Overview 9.2.5.1 Future Outlook 9.3 ROV Service Providers/Operators 9.3.1 Canyon Offshore Overview 9.3.1.1 Future Outlook 9.3.2 DeepOcean Group Overview 9.3.2.1 Future Outlook 9.3.3 DOF Subsea Overview 9.3.3.1 Future Outlook www.visiongain.com
    • Chapters 9.3.4 Harkand Overview 9.3.5 Saipem Overview 9.3.5.1 Future Outlook 9.3.6 Technip Overview 9.3.6.1 Future Outlook 9.4 Other Leading Companies in the Market 10. Conclusions & Recommendations 10.1 Global ROV Market Outlook ` 10.2 Global ROV Market Drivers & Restraints 10.3 Global and Submarket ROV Forecasts 2014-2024 10.4 Leading Regional Market Forecasts 2014-2024 11. Glossary List of Tables Table 1.1 Global ROV Submarket Forecast Summary 2014, 2019, 2024 ($m, CAGR %) Table 1.2 Regional ROV Market Forecasts Summary 2014, 2019, 2024 ($m, CAGR %) Table 3.1 Global Market Forecast 2014-2024 ($bn, AGR %, CAGR%, Cumulative) Table 3.2 Global ROV Market Drivers and Restraints Table 4.1 ROV Submarkets CAPEX Forecast, by region, 2014-2024 ($m, AGR %, CAGR%) Table 4.2 ROV Operations/Services CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%) Table 4.3 Australian LNG Export/Liquefaction Terminals Planned/Under Construction To Be Fed by North West Shelf Offshore Natural Gas (Location, Operator/Owner, Capacity, Construction Cost $, Construction Period) Table 4.4 Regulation with Affect on Offshore Decommissioning (Name of Regulation, Description of Regulation) Table 4.5 Regional Offshore Oil and Gas Decommissioning Market Forecasts Summary 2013, 2018, 2023 ($m), 2013-2023 CAGR (%) Table 4.6 ROV New Build CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%) Table 4.7 ROV New Build Drivers and Restraints Table 4.8 Observation, Inspection and Light Work Class CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%) Table 4.9 Medium- & Heavy Work Class ROV New Build CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%) Table 5.1 Regional ROV Market Forecast 2014-2024 ($m) Table 5.2 European ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%) www.visiongain.com
    • Chapters Table 5.3 European ROV Market Drivers & Restraints Table 5.4 Major Norwegian Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority Partner, Status) Table 5.5 Major UK Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority Partner, Status) Table 5.6 Major European Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway (Project, Majority Partner, Country, Status) Table 5.7 Current Contracts and Projects in the UK North Sea (Area, Operator, Estimated Costs, Estimated Period) Table 5.8 Structure Characteristics of the Brent Field Table 5.9 Major Projects Considered for Decommissioning (Location, Operator, Status) Table 5.10 North American ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%) Table 5.11 North American ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%) Table 5.12 North American ROV Market Drivers & Restraints Table 5.13 Status of Major North American Drill Support and Subsea Hardware Installation Projects Requiring ROVs (Project, Majority Partner, Country, Status) Table 5.14 South American ROV Market 2014-2024 ($m, AGR %, CAGR%) Table 5.15 South American ROV Market Drivers & Restraints Table 5.16 Major South American Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority Partner, Country, Status) Table 5.17 Current Brazilian FPSO Projects (Owner, Location, Field Operator, Status, Earliest Operation) Table 5.18 Recent & Upcoming Offshore Licensing Rounds in South America Table 5.19 African ROV Market 2014-2024 ($m, AGR %, CAGR%) Table 5.20 African ROV Market Drivers & Restraints Table 5.21 Major African Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway (Project, Majority Partner, Country, Status) Table 5.22 East African Countries’ Global Competitiveness Report 2012-2013 Scores Table 5.23 East African Countries’ Doing Business 2013 Scores Table 5.24 East African Countries’ Corruption Perception Index 2012 Scores (Out of 174) Table 5.25 Asia Pacific ROV Market 2014-2024 ($m, AGR %, CAGR%) Table 5.26 Asia Pacific ROV Market Drivers & Restraints Table 5.27 Major Asia-Pacific Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway (Project, Majority Partner, Country, Status) Table 5.28 Recent Offshore Licensing Rounds in Asia Pacific Table 5.29 Rest of the World ROV Market 2014-2024 ($m, AGR %, CAGR%) Table 5.30 Major Subsea Hardware Installation and Offshore Drilling Projects in the Rest of the World Table 6.1 Global AUV Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative) Table 6.2 Global Drivers & Restraints on AUV Use by the Energy Industry www.visiongain.com
    • Chapters Table 7.1 PEST Analysis of the Market 2014-2024 Table 9.1 Leading Companies in the ROV Market by Type (Manufacturers, Manufactures/Service Providers, ROV Services) Table 9.2 Forum Energy Technologies (FET) Overview (Total Revenue (2012), Submarket, HQ, Website) Table 9.3 Forum Energy Technologies Product Overview Table 9.4 Saab Seaeye Overview (Revenue, Submarket, HQ, Website) Table 9.5 Saab Seaeye Product Overview Table 9.6 Schilling Robotics Overview (Submarket, HQ, Website) Table 9.7 Schilling Robotics Product Overview Table 9.8 Soil Machine Dynamics Overview (Revenue, Submarket, HQ, Website) Table 9.9 Soil Machine Dynamics Product Overview Table 9.10 VideoRay Overview (Revenue, Submarket, HQ, Website) Table 9.11 VideoRay Product Overview Table 9.12 Fugro Overview (Revenue, Contract Backlog, Number of ROVs, Submarket, HQ, Ticker, Website) Table 9.13 Fugro ROVs (Model, Type, Depth Rating, Payload, Power, Manipulators) Table 9.14 Hallin Marine Overview (Revenue, ROVs, Submarket, HQ, Ticker, Website) Table 9.15 Hallin Products (Model, Type, Depth Rating, Payload, Power) Table 9.16 IKM Gruppen Overview (Revenue, ROVs, Submarket, HQ, Website) Table 9.17 Major IKM Gruppen Recent and Ongoing Projects (Client/Country, Value, Date, Details) Table 9.18 Oceaneering International Inc. Overview (Total Revenue, Revenue from Market, % Revenue From Market, ROVs, Submarket, HQ, Ticker, Website) Table 9.19 Oceaneering International Inc. Product Overview Table 9.20 MODU Submarket Forecasts Summary 2013, 2018, 2023 ($m, CAGR %) Table 9.21 Subsea 7 (incl. i-Tech) Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website) Table 9.22 Subsea 7 & i-Tech ROV Overview (Model, Type, Depth Rating, Payload, Power, Manipulators) Table 9.23 Canyon Offshore Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website) Table 9.24 DeepOcean Overview (ROVs, Submarket, HQ, Website) Table 9.25 North Sea Offshore Oil and Gas Decommissioning Market Forecasts 2013, 2018, 2023 ($m), 2013-2023 CAGR (%) Table 9.26 DOF Subsea Overview (Operating Income, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website) Table 9.27 DOF Subsea Vessel Orders (Vessel, Yard, Delivery, Type, Contract) Table 9.28 Harkand Overview (Submarket, HQ, Website) Table 9.29 Saipem Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website) Table 9.30 Technip Overview (Total Revenue (2011), Contract Backlog, ROVs, Submarket, HQ, Ticker, Website) Table 9.31 Other Leading Companies in the ROV Market 2013 (Company, Involvement in the ROV Market) Table 10.1 Global ROV Market Drivers and Restraints www.visiongain.com
    • Chapters Table 10.2 Global ROV Submarket Forecast Summary 2014, 2019, 2024 ($m, CAGR %) Table 10.3 Regional ROV Market Forecasts Summary 2014, 2019, 2024 ($m, CAGR %) List of Figures Figure 2.1 Unmanned Underwater Vehicles Overview Figure 2.2 Approximate ROV Market Share by Industry Sector 2013 (%) Figure 2.3 Offshore Tasks Supported by ROVs Figure 2.4 ROV Market Structure Overview Figure 3.1 Global ROV Market Forecast 2014-2024 ($m, AGR%) Figure 3.2 ROV Demand Cycle against CAPEX (Markets Forecast in Bold) Figure 4.1 ROV Submarkets CAPEX Forecast, 2014-2024 ($m, AGR %) Figure 4.2 ROV Operations/Services CAPEX Forecast, 2014-2024 ($m, AGR %) Figure 4.3 ROV Operations/Services Market Forecast by Region 2014-2024 ($m) Figure 4.4 ROV Operations/Services Market Forecast by Region 2014-2024 ($m) Figure 4.5 ROVs Submarkets by Region Market Share, 2014 (%) Figure 4.6 ROVs Submarkets by Region Market Share, 2019 (%) Figure 4.7 ROVs Submarkets by Region Market Share, 2024 (%) Figure 4.8 ROVs Submarkets (New Build vs. Operations/Services) Market Share 2014, 2019, 2024 (%) Figure 4.9 Offshore ‘Golden Triangle’ Oil and Gas Reserves (bn bbl, tcf) Figure 4.10 Crude Oil Spot Prices, 2003-2014 ($/bbl) Figure 4.11 Proven and Unproven Offshore Oil & Gas Reserves in the World Figure 4.12 Global Distribution of Offshore Oil and Gas Installations (%) Figure 4.13 North Sea Oil Production, 1999-2012 (Thousand bpd) Figure 4.14 ROVs Submarkets (New Build vs. Operations/Services) Market Share 2014, 2019, 2024 (%) Figure 4.15 ROV New Build CAPEX Forecast 2014-2024 ($m, AGR%) Figure 4.16 Observation, Inspection and Light Work Class vs. Medium- to Heavy- Work Class Ratio (%) Figure 4.17 Observation, Inspection and Light Work Class Market Share Forecast 2014-2024 ($m, AGR%) Figure 4.18 Medium- & Heavy Work Class ROV New Build CAPEX Forecast 2014-2024 ($m, AGR%) Figure 4.19 Observation, Inspection and Light Work Class vs. Medium- to Heavy- Work Class Ratio (%) Figure 4.20 ROV Fleet Makeup, 2007 (Observation & Mini Inspection vs. Inspection, Observation, Search & Survey and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial) Figure 4.21 ROV Fleet Makeup, 2010 (Observation & Mini Inspection vs. Inspection, Observation, Search & Survey and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial) Figure 4.22 ROV Fleet Makeup, 2013 (Observation & Mini Inspection vs. Inspection, Observation, Search & Survey and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial) www.visiongain.com
    • Chapters Figure 4.23 ROV Fleet Share Change %, 2007-2013 (Observation & Mini Inspection vs. Inspection, Observation, Search & Survey and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial) Figure 4.24 ROV Medium and Heavy Work Class Fleet by Owner/Operator (Number of Units) Figure 5.1 Regional ROV Market Forecasts 2014-2024 ($m) Figure 5.2 Leading Regional Markets Share Forecast 2014 (%) Figure 5.3 Leading Regional Markets Share Forecast 2019 (%) Figure 5.4 Leading Regional Markets Share Forecast 2024 (%) Figure 5.5 Cumulative CAPEX by Regional Market, 2014-2024 ($m, %) Figure 5.6 Regional ROV Market CAGRs (%), 2014-19, 2019-2024, 2014-2024 ($m, %) Figure 5.7 Regional ROV Market Share Change, 2014-2024 (%) Figure 5.8 Barriers to Entry vs. National Market Size 2013 vs. CAGR% 2014-2024 ($m, AGR%) Figure 5.9 European ROV Submarket Share Forecast for CAPEX on New Build ROVs 2014, 2019, 2024 (%) Figure 5.10 European ROV Submarket Forecasts 2014-2024 ($m, AGR%) Figure 5.11 Locations and Age of Infrastructure on the UK Continental Shelf Figure 5.12 North Sea Oil Production, UK & Norway, 1999-2012 (Thousand bpd) Figure 5.13 Average European Offshore Rig Count 2000-2012 (Units) Figure 5.14 Number of Offshore UK Wells 1964-2011 (Exploration, Appraisal, Development) Figure 5.15 North American ROV Market Share Forecast 2014, 2019, 2024 (%) Figure 5.16 North American ROV Submarket Forecasts 2014-2024 ($m, AGR%) Figure 5.17 Overview of Subsea Installation in the Gulf of Mexico Figure 5.18 Location of Active Offshore Oil and Gas Platforms in the Gulf of Mexico Figure 5.19 Water Depths of Active Oil & Gas Platforms in the Gulf of Mexico (% of Total) Figure 5.20 South American ROV Market Forecast 2014-2024 ($m, AGR%) Figure 5.21 South American ROV Market Share Forecast 2014, 2019, 2024 (%) Figure 5.22 African ROV Market Forecast 2014-2024 ($m, AGR%) Figure 5.23 African ROV Market Share Forecast 2014, 2019, 2024 (%) Figure 5.24 Asia Pacific ROV Market Forecast 2014-2024 ($m, AGR%) Figure 5.25 Asia Pacific ROV Market Share Forecast 2014, 2019, 2024 (%) Figure 5.26 Total Oil Production in Malaysia 1980-2012 (Thousand bpd) Figure 5.27 Total Oil Production and Estimated Net Exports in Indonesia 1980 – 2012 (Thousand bpd) Figure 5.28 Rest of the World ROV Market Forecast 2014-2024 ($m, AGR%) Figure 5.29 Rest of the World ROV Market Share Forecast 2014, 2019, 2024 (%) Figure 6.1 Global AUV Market Forecast 2014-2024 ($m, AGR%) Figure 6.2 AUV New Build CAPEX vs. ROV New Build CAPEX 2014, 2019, 2024 ($m, %) Figure 9.1 Work Class ROV Fleet by Company, 2008-2013 (Number of Units, Company) www.visiongain.com
    • Chapters Figure 9.2 Percentage of the Work Class ROV Fleet Operated by Each Company, 2008-2013 (% of Work Class Fleet, Company) Figure 9.3 Fugro ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs) Figure 9.4 Oceaneering ROV Fleet Share (%), 2008 & 2013 Figure 9.5 Oceaneering ROV Fleet Share (%), 2008-2013 Figure 9.6 Oceaneering ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs) Figure 9.7 Subsea 7 S.A. Revenue Development 2007-2012 ($m) Figure 9.8 Subsea 7 Revenue Share by Region ($m, %) FY2012 Figure 9.9 Canyon Offshore ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs) Figure 9.10 DOF Subsea ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs) Figure 9.11 Technip ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs) Figure 9.12 Technip Revenue Share by Region (%) 2012 Figure 10.1 Global ROV Submarket CAGR Forecasts 2014, 2019, 2024 (CAGR %) Figure 10.2 Global ROV Submarket CAPEX Forecast, 2014-2024 ($m) Figure 10.3 Global ROV Submarket CAPEX Forecast, 2014-2024 ($m) Companies Mentioned in this Report Acergy S.A. AF Decom Offshore Ageotec AGR Field Operations Holdings AS Aker Solutions Allseas Anadarko Andrews Survey Antrim Energy Inc. Apache Corporation Archer Atlas Elektronik ATP Oil & Gas Baker Hughes BG Group BHP Billiton Blade Petroleum Ltd. Bowtech products www.visiongain.com
    • Chapters BP BPZ Energy Bridge North Sea Canadian Natural Resources (CNR) Canyon Offshore Centrica plc Chevron Chubu Electric Power C-Innovation CNOOC China Limited ConocoPhillips CTC Marine Projects Dana Petroleum Deep Ocean Engineering Inc. DeepOcean Group Det Norske Oljeselskap ASA DOF AS DOF Group DOF Subsea Dominion Diving DONG Energy Dubai Petroleum Dynacon ECA Robotics Encana Endeavour International Energy Resource Technology ENI ENI UK Ltd EnQuest PLC EOG Resources Inc. EON ExxonMobil Floatation Technologies FMC Technologies Forum Energy Technologies www.visiongain.com
    • Chapters Fugro Fugro Subsea Services Limited GDF Suez Gujarat State Petroleum Corporation Hallin Marine Harkland Heerema Marine Contractors Helix Energy Solutions Group Hess Ltd Hibiscus Petroleum Husky Energy IKM Gruppen IKM Subsea INPEX Inpex Browse Ltd Integrated Subsea Services International Submarine Engineering iSurvey Group AS i-Tech Itochu Kodeco Kuwait Foreign Petroleum Kystdesign AS LLOG Lukoil Lundin Petroleum Maersk Oil Marathon Oil UK Mariscope McDermott Mermaid Maritime Mitsubishi MMTSweden AB MODEC MR Subsea KS Murphy Oil www.visiongain.com
    • Chapters Neptune Marine Services Nexen Inc. Noble Energy NYK Line Oaktree Capital Management Ocean Modules Oceaneering International Oceanvision OceanWorks Odebrecht Osaka Gas PDL Solutions Ltd Pearl Energy Pemex Perenco Oil and Gas Petrobras Premier Oil PTTEP Qatar Petroleum Rialto Energy Ltd Rosneft ROVOP RWE-DEA Saab Underwater Systems AB Saab-Seaeye Saipem Salamander Energy Santos SBM Offshore ScanSense Schahin Group Schilling Robotics Seabotix Seamor Marine Seaview Systems Semisubmersible Systems Inc. www.visiongain.com
    • Chapters Serica Energy Shell Shell Australia Sidus Solutions SMD (Soil Machine Dynamics) SNK Ocean Co. Ltd. Sogenal Ltd. Soil Machine Dynamics (SMD) Sonsub Seadrill Statoil Stone Energy Sub-Dimension Engineering Ltd Subsea 7 Subsea Vision Superior Energy Services SURF Subsea Syntech Technology Tech-Fab Technip Teekay Teledyne RD Instruments The MacArtney Underwater Technology Group Toho Gas Tokyo Gas Total E&P Australia Total S.A. TradeWinds Petrotrade Transocean Trelleborg Trico Supply TS Marine Group Holdings Pty Ltd Veolia Marine Services VideoRay Wood Group PSN Woodside www.visiongain.com
    • Chapters Xcite Energy YPF Government Agencies and Other Organisations Mentioned in This Report American Bureau of Shipping Brazilian National Oil, Natural Gas and Biofuels Agency DECC – Department of Energy & Climate Change (UK) EIA – Energy Information Administration European Union Massachusetts Institute of Technology (MIT) Norwegian Ministry of Petroleum and Energy IMO – International Maritime Organisation OPEC – Organisation of Petroleum Exporting Countries Royal Navy Transparency International United Nations (UN) US Government’s Bureau of Safety and Environmental Enforcement (BSEE) World Bank World Economic Forum www.visiongain.com
    • Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024 5.5.3 Major African Subsea Hardware Installation and Offshore Drilling Projects ROV deployment in drilling support and subsea hardware activity offshore Africa will be the major component of ROV operations spending going forward. The depth, complexity and infancy of the market ensure the need for advanced ROVs with high dayrates. Tables 5.20 list the major subsea projects currently under development offshore Africa. Table 5.20 Major African Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway (Project, Majority Partner, Country, Status) Project Majority Partner Country Status CLOV Total S.A. Angola First production 2014 PSVM BP Angola Full commercial production from all four fields by 20142015 Gazelle Rialto Energy Ltd. Cote d'Ivoire First production 2016-2017 Aje YPF Nigeria First production 2014 Akepo Sogenal Ltd. Nigeria First production 2013 Egina Total Nigeria Commercial scale production 2014-2015 Source: Visiongain 2013 5.5.4 Challenges To The Development of an East African Offshore Industry East Africa represents the largest opportunity for ROV service providers going forward, with vast gas reserves discovered off the coast of Mozambique and Tanzania. However, the same problems encountered in the development of an offshore industry in West Africa will also befall East Africa. East African governments have little experience and regulation relating to oil gas investment, making investments prone to abuse or mismanagement, especially if they occur rapidly and on a large scale. To turn the investment in any LNG terminals into effective long-term economic growth, while delivering on-time development of such projects, will be a hard task for East African governments. The inflow and absorption of such large investments will be a real challenge for www.visiongain.com Page 119
    • Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024 5.7 Market Forecast for ROVs in the Energy Industry of the Rest of the World 2014-2024 Table 5.28 and Figures 5.28 and 5.29 display visiongain’s forecast for CAPEX on the operations/services of ROVs for the Rest of the World over the next 10 years. The Rest of the World is comprised of activity in the Middle East, South Asia (Indian Ocean around India), the Arctic and in Russia and Central Asia. Market Definition Note: The ROV market of the Rest of the World is composed of CAPEX on ROV operations only. Table 5.28 Rest of the World ROV Market 2014-2024 ($m, AGR %, CAGR%) 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-2024 CAPEX ($m) 94.3 99.3 142.9 178.0 196.9 154.4 119.6 278.2 312.8 230.1 335.2 379.8 5.3 AGR (%) 43.9 CAGR (%) 2014-19 CAGR (%) 2014-24 24.6 3.8 10.6 -21.6 -22.5 132.6 2019-24 12.4 -26.4 45.6 2,427.1 13.3 26.0 14.4 Source: Visiongain 2013 Figure 5.28 Rest of the World ROV Market Forecast 2014-2024 ($m, AGR%) 160% 400 140% 350 120% 100% 250 80% 60% 200 AGR CAPEX ($m) 300 40% 150 20% 100 0% 50 -20% -40% 0 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Year Source: Visiongain 2013 www.visiongain.com Page 131
    • Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024 8. Expert Opinion 8.1 Saab Seaeye James Douglas has worked in or around the marine industry his entire life. Prior to joining Saab Seaeye in January 2007 as a Sales Manager he worked for Raymarine. He has over 15 years experience with Marine Electronics and marketing such electronics to markets all over the world. His primary responsibility at Seaeye is for ROV system sales at home and internationally, as well as the management of the sales department. Visiongain interviewed Mr. Douglas in November of 2013 and would like to thank him for the insightful and interesting comments. Saab Seaeye Limited is a wholly owned subsidiary of Saab Underwater Systems AB. The company was formed in 1986 by Ian and Janet Blamire to specialise in the manufacture of electrically powered ROVs for the offshore oil and gas industry. It operates in the middle part of the ROV market, manufacturing the full suite of ROVs excluding handheld observation and very large hydraulic vehicles. It is based in Fareham, Hampshire, and also manufactures the ROVs from this site. It has sold over 750 ROVs to a range of companies and industries since its inception in 1986. 8.1.1 Saab Seaeye in the ROV Market Visiongain: Describe the work of Saab Seaeye and your role within the ROV market? James Douglas: We supply electric ROVs to the middle segment of the ROV market, from the observation up to the work class vehicles. We don’t make the larger hydraulic vehicles and we do not supply the very small ROVs (the hand carried ones). We aim to provide the best possible service that we can to our customers. We run a 24/7 telephone helpline manned by very experienced staff. We have people that can at very short notice fly around the world to support our systems. We also run training programmes for the systems and keep a large amount of spares in stock in order to support clients worldwide. Some spares are kept in various strategic places around the world to help support the local customers. In short, we like to think we are a very customer focussed and customer orientated company. www.visiongain.com Page 141
    • Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024 9.1 New Build ROV Manufacturers These companies only manufacture ROVs, perform maintenance on ROVs and/or supply manipulators/tooling for ROVs. 9.1.1 Forum Energy Technologies Forum Energy Technologies (FET) was established in 2010 in a merger between Forum Oilfield Technologies, Triton Group (Perry-Slingsby and Sub-Atlantic brands), Subsea Services International, Global Flow Technologies and Allied Technology. The company has offices in Houston, Singapore and since 2012 in Beijing, Brazil, and Australia. Table 9.2 Forum Energy Technologies (FET) Overview (Total Revenue (2012), Submarket, HQ, Website) 1,414 Total company revenue $m Submarket ROV New Builds Headquarters Houston, TX, USA NYSE: FET Ticker http://www.f-e-t.com Website Source: Visiongain 2013 Table 9.3 Forum Energy Technologies Product Overview Model Type Depth Rating Payload (metre) Power (hp) Manipulators (kg) Mojave Inspection max.300 12 6 0 Mohawk Inspection max.1000 35 9 optional Mohican Inspection max.3000 35 17 optional Super Inspection & Light max.3000 85 17 2 Mohawk Work Class Tomahawk Survey & Light max.3000 175 47 2 Work Class www.visiongain.com Page 150