Big investments coming up-III: 2017 is the best year to tie up offshore gas contracts
Jun 16: Why is 2017 is the best year for placing orders for offshore commitments of ONGC and RIL-BP? 8A compilation of data from research done by Morgan Stanley Research , Wood Mackenzie and Rystad Energy in April 2017 indicate that deep-water plays are going to play an increasingly important role in incremental production in the next three years. Up to 23% of the incremental volumes are coming from such plays 8In this context, the estimates are that the trough in subsea installations -- in terms of subsea trees going online -- will probably be hit in 2017 before beginning to rise in 2018, and going up sharply by 2020 and onwards. 8For this to happen, subsea hardware capex, in terms of subsea trees, templates, manifolds, subsea boosters, compressors, separation and umblicals will begin to start going up, rather sharply from 2018 onward. 8After reaching a peak in 2014, there was a sharp deterioration in feet utilization in critical offshore equipment. 8The floating rig contracted were down from around 275 in Q-1, 2014 to 150 in Q-1, 2017. Click on Report to find out more.