Westwood’s Global Subsea Tree Tracker

Each month, Westwood’s subsea team provides a global update on subsea tree awards, with data sourced from, and analysed using, the new SubseaLogix service. Bookmark this page for regular updates on the health of the subsea oil and gas sector.

Updated – 3rd February, 2020

Westwood Global Subsea Tree Tracker 4Q 2019
GoM: TechnipFMC and OneSubsea were awarded industry first 20K subsea trees
114 awards expected in 1Q2020 – a significant YoY and QoQ uptick. Key projects to watch include Mero, Payara and Gumusut Phase III
  • 43 tree orders in 4Q2019, down 59 units YoY and resulting in a total 2019 intake of 213 (vs 271 in 2018). 4Q2019 awards were focused in US GoM (Anchor, Shenandoah) and Russia.
  • 1Q2020 orders expected to hit 114 – as of 3 Feb, 23 units have been awarded. Total 2020 intake projected at 327.
  • Five-year order outlook (2020-24) remains unchanged averaging 310 units a year.

Mark Adeosun
Lead Analyst, Subsea
madeosun@westwoodenergy.com