Page 14: of Marine Technology Magazine (July 2021)

Markets ROV Services

ROV SERVICES

MARKET

UPDATE

By David Bat, President, Kimberlite International Oil? eld Research he ROV Services market Isurus workclass ROV to support work ture of subsea operations. continues to be a key com- in the offshore renewables segment, the Looking speci? cally at ROV services, ponent for helping subsea Liberty which is a battery-powered elec- a recent industry survey conducted by operators achieve greater tric ROV to support IMR, commission- Kimberlite International Oil? eld Re-

T levels of operational ef? - ing and underwater intervention activi- search found that subsea operators are ciency and to reduce costs and will play ties with up to 90% reduction in carbon looking for improved ROV reliability/ a growing role in supporting the expan- footprint and the soon to be released uptime and visualization systems and sion of future offshore wind projects with Freedom, an autonomous vehicle to for further improvements to ROV tool- tasks like laying cables, pre- and post-lay support pipeline survey, seabed survey, ing and automation capabilities.

cable survey and other seabed activities. close visual inspection and light inter- These desired improvements and ad-

The size of the ROV Services market vention activities. vancements in ROV capabilities will has declined to approximately $1 bil- TechnipFMC, a relatively newer en- enable subsea operators to conduct lion, from about $2 billion in 2014, trant into the ROV Services business, longer missions while supporting ad- re? ecting a wider industry decline in albeit with a long heritage in ROV de- vancements in digitalization initiatives activity from approximately 800 ROVs sign and manufacture, has deployed its designed to improve real time reporting in operation to only approximately Gemini workclass ROV in the Gulf of and analysis along with improved re- 400 ROVs operating today on average. the Mexico which offers the capability mote operational support.

While utilization continues to improve tool changing and advanced operations Whatever the future holds in the years from the 2020 trough, most industry to conduct longer duration missions ahead, the oil and gas industry has experts do not expect the market to re- translating into time and cost savings for proven time and again the ability to in- turn to 2014 levels Oceaneering com- drilling operations. novate and adjust to challenging mar- mands approximately 50% of the ROV More broadly, 2020 represented an un- ket conditions.

services market share, followed by precedented year in which the bene? ts One difference coming out of the CO-

Subsea 7 at 11%, Fugro at 7%, DOF of leveraging remote operations, au- VID pandemic is the realization that

Subsea at 6% and TechnipFMC with tomation and digital solutions became the use of remote operations and digital approximately 6%. more visible among both operators and solutions will continue to grow and de-

Oceaneering continues to invest in suppliers alike and is being prioritized velop as operators seek to improve ef- technology and capabilities with the as key investment initiatives for the fu- ? ciencies and ? nancial returns. 14 July/August 2021

MTR #5 (1-17).indd 14 7/30/2021 12:40:07 PM