Data briefs: Offshore markets show mixed signals for 2026
Floating platform EPC spending surges in 2026
From a segment perspective, the clearest structural shift is the rise of floating platform EPC award value, increasing from $15.6 billion in 2025 to $37.7 billion in 2026. By contrast, drilling and completion spend declines from $26.7 billion to $23.5 billion, while fixed platform EPC also declines modestly from $14.9 billion to $13.8 billion, given project sanctioning delays in the Middle East. However, subsea equipment EPC remains broadly stable at US$17 billion.—Westwood Global Energy Group
Offshore wind outlook stays positive amid FID dip
Final investment decisions (FIDs) only tell part of the story when it comes to offshore wind market health. Developers are facing a tough macroeconomic environment with high costs, complex markets and shifting regulations. It is unsurprising to see that this has caused a dip in FIDs. Developers are securing power-purchase contracts ahead of FID, highlighting the fact there is still high demand from both governments and corporations. While capital investment might appear sluggish on the surface, underneath the long-term market is looking healthier.—Spinergie
Seismic trends point to weaker exploration activity
On average an exploration well is spudded ~2.5 years after completion of a 3D seismic survey, so analysis of trends in seismic acquisition provides a leading indicator of future exploration drilling activity. A total of 1,132 3D seismic surveys have been acquired between 2015 and 2025, averaging ~100 surveys per year, although the total number of surveys acquired per year has declined by ~27% between 2015 and 2022 and the number of exploration surveys acquired declined by 65% over the same period.—Westwood Global Energy Group
About the Author
Ariana HurtadoAriana Hurtado
Editor-in-Chief
With more than a decade of copy editing, project management and journalism experience, Ariana Hurtado is a seasoned managing editor born and raised in the energy capital of the world—Houston, Texas. She currently serves as editor-in-chief of Offshore, overseeing the editorial team, its content and the brand's growth from a digital perspective.
Utilizing her editorial expertise, she manages digital media for the Offshore team. She also helps create and oversee new special industry reports and revolutionizes existing supplements, while also contributing content to Offshore's magazine, newsletters and website as a copy editor and writer.
Prior to her current role, she served as Offshore's editor and director of special reports from April 2022 to December 2024. Before joining Offshore, she served as senior managing editor of publications with Hart Energy. Prior to her nearly nine years with Hart, she worked on the copy desk as a news editor at the Houston Chronicle.
She graduated magna cum laude with a bachelor's degree in journalism from the University of Houston.