Special Report and Presentation

Are we on our way into a boom in the Norwegian and UK subsea markets? What areas will see growth, how many trees and templates are there, who operates and who have delivered them? Will subsea refurbishment and modifications become big business?

Published: 6 January 2012

In order to support members and partners business development, NCE Subsea is distributing a special report on the NCS and UKCS Subsea Market & Infrastructure. The report is prepared by Rystad Energy and is exclusive to partners and members of NCE Subsea.

The report will be presented at a breakfast seminar on 18 January by Erik Reiso, Partner in Rystad Energy. The seminar is for members and partners of NCE Subsea only.

Location: Clarion Hotel Bergen Airport
Time: 18.01.2012, at 08:00 - 10:00

Breakfast will be served from 08.00.
Please register for the seminar by 17. January. Go to online registration form.

Download the report from our web site now.

The report can be downloaded from our Members Pages available to all partners and members. Please find the 'Norway and UK Subsea Market & Infrastructure Report' under reports 2011.

For questions regarding the report or the breakfast seminar please contact General Manager Trond Olsen, Trond.Olsen@ncesubsea.no, phone +47 48 10 88 64.

Some highlights from the report:

  • There will most likely be a production growth from subsea fields in Norway, and a steady level in the UK.
  • In both countries, spending on subsea equipment, installation and services will grow towards 2018 reaching a combined level of NOK 80 bn in 2017 compared to NOK 38 bn in 2011.
  • The number of subsea trees coming on-stream will be 60-80 in 2011 and 2012, before increasing towards 2018, averaging 100 per year 2012-2018.
  • Statoil is the only large operator with an overall strategy with respect to the aftermarket and a clear ambition for improving its installed base of subsea equipment.
  • Change of fiscal regime in the UK may imply postponements on marginal projects
  • New subsea trees on existing projects has been the main driver of the market the last decade, but going forward, growth will be driven to a larger extent by greenfield projects
  • Both Norway and the UK have aging infrastructure, with more than half of the trees being over 10 years old
  • A key driver in the aftermarket is the retrieval of trees for maintenance. A majority of the activity will be in Norway, driven by Statoil