Page 7: of Offshore Engineer Magazine (Nov/Dec 2022)

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EDITOR’S LETTER

Striking a Balance he year 2022 ends much the way it began: a healthy dose of geopolitical con?ict and a healthier dose of global in?ation, topped with energy security concerns across Europe and a keen focus on subsea security.

Then of course there is the ongoing energy transition discussion and

T action. The move away from carbon-based energy sources is real and ongoing, but despite bold proclamations from ‘experts’ that the transformation can be fast-tracked, the reality is that we are generations away from ditching fossil fuels as a primary source of energy … long after I’ve vacated this chair (and this earth!).

To help add depth and breadth to the discussion, in this edition we’ve arranged for a broad spectrum of industry insiders to provide numeric insight and analysis to the offshore energy markets that look promising in 2023 and beyond.

Starting us off is Teresa Wilkie, Director of RigLogix - Westwood Global Energy

Group, who offers a trio of 2023 rig market predictions that should leave most readers smiling: more reactivations, more mergers and acquisitions and $500,000 dayrates, courtesy of the sustained E&P upcycle, with jack-ups, drillships, and semi-submersibles (semi) all recording increases in demand, marketed utilization, and dayrates.

Next up is Matt Hale from Rystad, who says that offshore oil?eld services spending will keep rising – up to 20% – in 2023, led by Brazil. You can read his report, and you can here his words, too, as Hale was recently interviewed by OE’s Bartolomej Tomic for OE TV.

In considering the global offshore exploration outlook, Ruaraidh Montgomery, Head of Global Research at Welligence Energy Analytics, writes that Welligence expects global offshore exploration drilling activity in 2023 to remain relatively steady year-on-year, with the majors driving much of the activity in their core regions. Two areas with big impact potential - the Atlantic Basin and the Eastern Mediterranean - will draw much of the exploration investment.

Check out the 2023

Finally, Philip Lewis and Tomasz Laskowicz from Intelatus Global Partners provide

Media Kit via the QR insights via a trio of articles on the new and emerging frontier of Offshore Wind,

Code Below particularly here in the U.S. as well as the embryonic industry in the Baltics. Phil and his team are a wealth of knowledge and insight on offshore wind globally, with details on ‘when and where’ assets are likely to be built plus up to the moment exclusives on the deals driving this business forward.

As always, a sincere bit of thanks to you for your interest and support of Offshore

Engineer in 2022, with best wishes for a healthy and prosperous 2023.

Gregory R. Trauthwein F= [email protected] m: +1-516.810.7405 november/december 2022 OFFSHORE ENGINEER 7