Subsea vessel demand to grow 52% to 2015, says Douglas-Westwood

The demand for subsea vessel operations is set to grow by 52%, totaling $72 billion between 2011 and 2015, according to a new Douglas-Westwood report.

Offshore staff

CANTERBURY, UK – The demand for subsea vessel operations is set to grow by 52%, totaling $72 billion between 2011 and 2015, according to a new Douglas-Westwood report.

The “World Subsea Vessel Operations Market 2011-2015” also says project timetables are accelerating, project capex is increasing, and global demand for subsea vessels is expected to exceed 310,000 days over the period, an increase of 28% on the previous five years.

Spending over the period is expected to rise from $11.2 billion this year to $19 billion in 2015, the report predicts. It includes vessels used for subsea field development and construction, inspection/repair/maintenance, well intervention, and P&A activity.

08/17/2011

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