Page 26: of Offshore Engineer Magazine (Mar/Apr 2017)

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Fixed platforms,

EPIC shifting markets

In? eld Systems’

Fixed platform capex by region, 2012-2021

Neda Djahansouzi gives a ? avor 16

Africa Asia Europe Latin America & Caribbean of the forecasted ? xed platform

Middle East North America Oceania Russia & Caspian market in 2017-2021, while we 14 let some ? gures speak for themselves.

12 10 ver the past two years the off- (US$, billions) shore sector has undergone an

O extremely challenging period 8 and the ? xed platform market has been no exception to this.

In? eld Systems’ Global Fixed Platform 6

Report to 2021 expects the ? xed plat- form market to comprise 13% of total offshore expenditure during the 2017-

Capital expenditure 4 2021 timeframe.

The report, which highlights key trends within the ? xed platform market 2 over the next ? ve years; including ex- pected capex and installations globally, demand drivers and contract activity, 0 * * * * * 20122013201420152016 2017 2018 2019 2020 2021 sets out a shifting picture, as traditional * Forecast

Source: In? eld Systems markets give way to lower cost basins.

A diminishing US Gulf of Mexico,

North Sea and parts of Southeast Asia

Fixed platform buildout, 2012-2021 account for a shift in the ? xed platform 16 600 market from its traditional Europe-

Operational/under construction (US$)Operational/under construction (US$) and Asia-driven markets, to activity 1414

Firm plan/probable (US$)Firm plan/probable (US$) increasing in non-core, low-costing 500 geographies, including Vietnam, Russia,

Fixed installs (units)Fixed installs (units) 1212

Venezuela and Iran. units)

Despite this, Asia and Europe will 400 1010 continue to lead the global ? xed plat- form sector in terms of capex spend, (US$, billions) over the next ? ve years, driven largely 88 300300 by the development of Statoil’s Johan

Sverdrup ? eld, one of the ? ve largest 6 oil ? elds on the Norwegian Continental 200

Shelf. 4

In Asia, demand is underpinned by

Number of installations ( shallow water activity in Malaysia and 100

Capital expenditure 2

Vietnam towards the end of the forecast, as well as increased demand in China between 2019-20, because of investment 0 0 * * * * * 201220132014201520162017 2018 2019 2020 2021 in CNOOC’s Lingshui and Peng Lai * Forecast

Source: In? eld Systems developments.

March 2017 | OE oedigital.com 28 028_OE0317_Epic1_infield.indd 28 2/21/17 5:32 PM