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In the News, September 11th 2015

By September 11, 2015September 7th, 2022No Comments

It has been a busy week, with Offshore Europe and the release of the World ROV Operations Market Forecast 2015-2019 dominating the news:

Offshore Europe took place this week and John Westwood gave a speech at an event held by the Norwegian-British Chamber of Commerce, ONS and Greater Stavanger:

“Since we are seeing the beginning of a new era in the North Sea, this year’s theme was “Transition – North Sea 2.0”. Speakers from Statoil, DNV GL, Douglas-Westwood…made sure to give the audience an insight into their reflections on the North Sea market.” 10/09/2015

Douglas-Westwood was featured in the show dailies, with an article on the World Deepwater Market Forecast 2015-2019 featured on the first day of the conference:

“Douglas-Westwood (DW) expects deepwater capex to rise post-2016, driven by the continued development of deepwater fields off Latin America and West Africa, as well as new developments off East Africa.”

Offshore Europe – Day 1 (08/09/2015)

An article on the GE look ahead website this week quoted Steve Robertson and referenced the World Deepwater Market Forecast 2015-2019:

“Where the focus is at the moment and where the quick wins are is in tackling what the industry is doing but in a different way,” says Steve Robertson, director at Douglas-Westwood, a research consultancy firm and producer of the Deepwater Market Forecast. 11/09/2015

Douglas-Westwood also featured in the day four show daily, where an article on the World Subsea Hardware Market Forecast 2015-2019 appeared:

“Douglas-Westwood forecasts global subsea hardware Capex to total $145 billion (bn) between 2015 and 2019. The near-term growth story for subsea hardware has, however, been significantly eroded due to the decline in oil price.”

Offshore Europe – Day 4 (11/09/2015)

A guest blog by Matt Cook was featured on the Zoedale website:

“The biggest effect is surely to be felt in the US shale plays, where the price crash has led to heavy job losses and reductions in rig fleets. Thus DW expect the number of onshore wells spudded in the US in 2015 to be 42% lower than 2014.” 08/09/2015

Andrew Myers was quoted in an article that appeared on the Society of Petroleum Engineers website:

“Andrew Meyers, a manager with DW, said the downward pressure on day rates and dampened desire from operators to pay the premiums for the latest generation of platforms is expected to slow absorption automation.” 08/09/2015

Douglas-Westwood’s World ROV Operations Market Forecast 2015-2019 was released this week and was featured on a number of news sites:

“The conclusions of the report highlight the current market challenges…DW anticipates the global ROV market to significantly contract in value terms in 2016 (-6.3%) and then plateau in 2017, due to the current oil price downturn.” 09/09/2015 09/09/2015 09/09/2015 09/09/2015 10/09/2015 10/09/2015 11/09/2015 11/09/2015

The OECD Council Working Party on Shipbuilding referenced Douglas-Westwood’s old subsea vessel report in a recent paper. This was then featured on a number of news sites:

However, over the medium-term, according to DW, demand for all offshore vessel types is expected to increase by 3.7% per year on average over the next ten years driven by the developments of deep offshore fields.” 09/09/2015 09/09/2015 11/09/2015

The World Floating Production Market Forecast 2015-2019 was referenced this week:

“According to the, “World Floating Production Market Forecast” published by Douglas-Westwood, it is predicted that during the period 2015 – 2019, approximately US$81 billion will be invested on FPS units, which is an increase of 73% in comparison to 2010 – 2014.” 07/09/2015

The findings of the Energy 2050 project that Douglas-Westwood is part of where released ahead of Offshore Europe this week:

“Panelists including…Andrew Reid, chief executive of Douglas-Westwood, joined Energy Voice’s Rita Brown to discuss the results.” 04/09/2015

This week’s DW Monday appeared on a variety of sites:

“DW’s latest research suggests that the Global Oilfield Services sector will face a 36% decline in expenditure in 2015, prompting industry players to cut costs and reposition themselves through shedding underperforming/non-core business units.” 07/09/2015 07/09/2015 08/09/2015 08/09/2015 08/09/2015