Page 46: of Offshore Engineer Magazine (Mar/Apr 2015)

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already conservative approach to risk.

There are reasons for optimism.

Deepwater projects are different from onshore shale projects. Onshore shale has

Subsea a short timeline and already is feeling the effects of lower prices. Deepwater proj- ects are long term, take years to unfold and will be slower to react.

There are so many projects already

Leap of faith sanctioned and underway in the Gulf of Mexico, off Brazil and West Africa, that analysts see momentum carrying

Will subsea tech join fracking slowdown?

development forward into a time when There may be too much momentum. oil prices likely will be higher.

Bruce Nichols reports.

“Because of sunk capital, the point- forward breakeven oil prices for these ubsea oil and gas processing of offshore production from the platform projects is lower, meaning that 2015 and technology takes a big step forward to the sea? oor for the ? rst time. 2016 prices will have short-lived impacts

S this year when Statoil starts up But with oil prices down more than on the commercialization of these ? elds gas compression systems at Åsgard and 50% since mid-2014, there is concern and will be offset over time as oil price

Gullfaks, shifting this major component further technological advances could recovers,” says Wood Mackenzie analyst slow as leaner cash ? ows and shrunken Jackson Sandeen.

capital spending heighten operators’ Douglas-Westwood also expects a short-lived oil price downturn. The energy research ? rm sees subsea CAPEX

Testing for Train 2 of the Asgard subsea exceeding US$30 billion in 2015, dipping compression system was completed a bit over the next three years, but rising in December at Aker Solutions’ dockside yard in Egersund, Norway. again in 2019 past $35 billion, Houston

It was then moved to a disassembly director Mike Haney told a recent energy area for transportation to the o