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Demand Grows for OSVs in the Offshore Floating Production and Storage Energy Sector

Jun 13, 2022

Over the last year we have seen an upswing in floating production and storage systems ordering after many years of low activity. According to our colleagues at World Energy Reports, “The global oil and natural gas markets are contending with rebounding energy demand on top of supply disruptions from Russia’s invasion of Ukraine. As a result, activity and business sentiment in the floating production sector has seldom been stronger…

2023 Forecast:: Led by Brazil, Offshore Oilfield Services Spending to Rise

Jan 05, 2023

Offshore exploration and production (E&P) capital expenditures (capex) will shake off the pandemic-induced declines of the past two years and rebound by 20% in 2022, reaching a total $165 billion spent on exploration, wells, and facilities (Figure 1)…

Market Report: The Work Class ROV Market

Aug 02, 2021

Demand for work-class ROVs (WROV) has traditionally been determined by the state of the global offshore oil & gas industry. This is likely to remain the case in the short to medium-term. However, there’s a new kid on the block – offshore wind…

An Overview of the Work Class ROV Market

Jul 25, 2021

Demand for work-class ROVs (WROV) has traditionally been determined by the state of the global offshore oil & gas industry. This is likely to remain the case in the short to medium-term. However, there’s a new kid on the block – offshore wind…

NOC on Effect: Jackup Rig Demand at the Mercy of National Oil Companies' Playbook

Aug 26, 2020

Over the past four months we have been flooded by news of just how badly the offshore rig market has been hit during the double whammy of the Corona pandemic and oil price fallout. We witnessed what seemed like a never-ending wave of contract…

Market Report: Global Heavy Lift Vessel Sector

Aug 25, 2020

The global heavy lift vessel market is a difficult place to be. Utilization for the fleet has remained depressingly low since the first oil and gas downturn in 2014, currently hovering around 33% for the global fleet with a lift capacity of over 800 tonnes…

Current News

Petronas and ExxonMobil to Pursue CCS Projects in Malaysia

Petronas and ExxonMobil to Pursue CCS Projects in Malaysia

T7 Global Wins Offshore Decom and Headhunting Jobs from Hibiscus, PTTEP

T7 Global Wins Offshore Decom and Headhunting Jobs from Hibiscus, PTTEP

Santos Faces New Delay on Barossa Gas Pipeline Due to Heritage Assessment

Santos Faces New Delay on Barossa Gas Pipeline Due to Heritage Assessment

Taiwan: Taiya Renewable Energy to Join Floating Wind Demonstration and 3-2 Zonal Development in 2023

Taiwan: Taiya Renewable Energy to Join Floating Wind Demonstration and 3-2 Zonal Development in 2023

IEA's Birol Expects Tighter Energy Markets in 2023

IEA's Birol Expects Tighter Energy Markets in 2023

Samsung Heavy, MISC to Build Floating CO2 Storage Units

Samsung Heavy, MISC to Build Floating CO2 Storage Units

Wintershall Dea Exits Russia

Wintershall Dea Exits Russia
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