Page 8: of Marine Technology Magazine (April 2005)

8 MTR April 2009

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A recent report into global subsea tree awards, published by Quest Offshore, fore- casts 12.1% compound annual growth rate (CAGR) over the next five years. This compares with a CAGR of 3.6% experi- enced in the previous five year period.

Quest analysts said that growth prospects are sound for meaningful subsea orders during 2009/10, buoyed by notable proj- ects offshore Brazil and Africa. The report also acknowledges that awards maybe tem- pered in 2009 by the potential slow down of final investment decisions (FID) on cer- tain world class projects. This as oil com- panies actively look, and possibly wait, for cost reductions and concessions from all aspects of the global supply chain. West

Africa is identified as a bright spot for future subsea activity, following on from ongoing projects by the major operators.

Subsea Trees: 12.1% Growth

Corrections

The article written by Maggie Merrill about ocean renewable energy in New England in the November/December 2008 issue of MTR had the wrong photo. The corrections are as follows.

Congressman James McGovern expressed his desire to work with the Massachusetts Congressional Delegation early next year to promote the growth of the ocean energy industry in the Commonwealth and throughout the region.

Marine Renewable Energy Center Director, John Miller explains the potential for ocean energy in New England is untapped. There are several systems that can be deployed to test technologies and site characteristics.

Re: January 2009 Cover

With regard to the front cover of Marine Technology

Reporter. The picture on the cover shows what is referred to as a ball tool in the Van Gogh Heavy lift article. The tools is actually designed and assembled by our company BALLTEC http://www.balltec.com

It was a pleasant surprise to see our tool on the cover of the magazine even if our company was not mentioned. For future reference, the tool was proof load tested to 874mT and has a

SWL of 700mT Our company specializes in Ball and taper tools for the offshore industry. We also produce Subsea moor- ing connectors, Pipeline recovery tools, abandonment and recovery tools, and moving into the pile handling market.

Regards,

James Neels, Balltec Ltd, Email :[email protected]

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