Report: Offshore operations expenditures to top $330 billion in next five years

Offshore staff

CANTERBURY, UK -- Offshore operations and maintenance expenditure could total more than $330 billion over the next five years – with the largest share allocated to North America during that time, according to Douglas-Westwood’s Offshore Operations and Maintenance Management Report 2010-2014.

According to the report, subsea inspection, repair, and maintenance (IRM) market will outgrow all other sectors – with a compound growth of more than 10% between 2010 and 2015. Production services will dominate the operations and maintenance market; maturation of offshore fields will drive compound growth of close to 10% as operators, the company says.

The report covers platform drilling, asset integrity, well stimulation, produced water management, and production logging. It provides a regional analysis of historic and future market activity across Africa, Asia-Pacific, Eastern Europe and the Former Soviet Republic, Latin America, the Middle East, and North America -- breaking out the UK, Norway, and the rest of Western Europe for individual analysis.

The report also looks at the main drivers and indicators of sector activity and provides supporting information such as the installed base of fixed and floating platforms, pipelines, producing wells, and support vessels. It also analyzes other factors such as future pricing and vessel day rates.

11/25/2009