Ship&Offshore | Issue 01/2016
Protracted supply overhang and gradual recovery in subsea vessel operations spend
FORECAST | In its “World Subsea Vessel Operations Market Forecast 2016-2020”, UK-based energy business advisors Douglas-Westwood (DW) sees subsea vessel operations expenditure beginning a mild post-2016 upswing, driven by continued development of deepwater fields off Latin America, North America and West Africa as well as new projects off East Africa. In the short term, however, delays as a result of the low oil price are causing significantly slower growth than was expected a year ago, writes DW’s Mark Adeosun.