Subsea Market Report to 2018

July 1, 2014    + + +   Infield Systems has just released the latest edition of its Global Perspectives Subsea Market Report to 2018. The tenth edition of this highly respected report is devoted to the global subsea market and provides a comprehensive analysis of its many facets. The report presents information on the expected subsea capital expenditure and level of subsea tree installations from both a global and a regional perspective; with information split by different factors including: by region, by country, by the most significant oil companies and also by water depth. Information is presented in such a way as to highlight the differing market dynamics, the changing investment opportunities, key developments and prospects, and the dominance of different companies in each regional market.

Infield Systems expects positive prospects for growth in the subsea sector, with global subsea capital expenditure (Capex) and subsea tree installations both anticipated to double in the next five years. Overall, the subsea market will grow at a CAGR of 6.72% from 2014-2018. The principle driver for subsea growth is an increasing trend towards deepwater oil and gas development, brought about by continued high oil prices, key technological improvements and the need to replace maturing shallow-water basins. As a result, subsea developments have steadily increased over the past decade, as companies look to cost-effectively target reservoirs over a much wider area.

Latin America and Africa will maintain their dominance in the subsea industry, together accounting for over half of total global forecast Capex between 2014 and 2018. The primary drivers are massive pre-salt discoveries offshore Brazil located in the Santos and Campos basins. These ultra-deep water fields are mainly operated by Petrobras, with the National Oil Company (NOC) continuing as top global subsea investor in the next five years, capturing 25% of global Capex.

Europe will become the largest region in terms of subsea tree installations, despite the fact that it will contribute just 11% of subsea Capex. This is due to a lack of capital-intensive deepwater activity in the NWECS sub-region, with the majority of subsea tree installations tied to smaller, more marginal accumulations in shallow waters.

Asia and Australasia represent emerging opportunities for the subsea sector. These two regions will increase their combined market share from 8% in the last five years, to 14% in the next five years.

Report Contents

Executive Summary provides an overview of the Subsea market highlighting the main points of the report and identifying the most important countries, operators and market characteristics in each subsea region.

Global Overview provides a more in-depth analysis of the main subsea participants and the expected evolution of the global subsea market from its current state. This section analyses each major operator's current strategy, their key regions for investments and future projects. In addition, an analysis of the major subsea equipment manufacturers' current market shares, main operating regions and recent subsea awards is provided along with a presentation of their current subsea frame agreements. Capex and subsea installations are also reviewed by equipment type and water depth.

Regional Overview contains a detailed analysis and forecast for each of the following regions: Africa, Asia, Australasia, Europe, Latin America, the Middle East and Caspian and North America. For each region, subsea capital expenditure and subsea equipment installations are detailed by operator and country in light of regional political and market developments. Information on the most significant developments and prospects is also provided. Finally, investment figures are analysed by water depth.

The report contains data developed by Infield Systems' proprietary market modelling process, OFFPEX, which is based on a unique "bottom up approach" to forecasting. OFFPEX's component by component and project by project forecasting process is robust and has a proven track record.

The report presents information on the expected Subsea capital expenditure and level of subsea tree installations. from both a global and a regional perspective; with information split by different factors including: by region, by country, by the most significant oil companies and also by water depth.

The report provides an independent and comprehensive analysis of the issues and risks impacting the Subsea market today, and how these will affect future developments over the next five years.

Purchasers of the Subsea Market Report to 2018 receive 12 months online access to Subsea Online (Essentials), which is a database of major subsea projects (fields being developed with four or more subsea wells) being planned or considered for development in the current year and four years forward, worldwide.

Source:  Quentin D'A Whitfield | Director | Infield Systems Limited
http://www.infield.com

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