Subsea programs soldier on

HOUSTON, TEXAS: Low oil and gas prices and other economic uncertainties may put a slight damper on the amount of subsea installation activity planned or underway worldwide. At present, 317 subsea projects are known to be underway from now through 2013 and beyond, compared to 321 reported in October 2008.

However, according to a February report from analysts Infield, global spending on the subsea sector through 2013 is expected to exceed US$80 billion. This would be an increase over the US$46 billion spent on subsea equipment, drilling and completion over the previous five years. Infield expects 3,222 trees to be installed over the next five years, with the biggest players being Petrobras, Shell, Total, Chevron, BP, ExxonMobil and StatoilHydro. Infield’s analysts anticipate the next two years will see a plateau of activity levels as constraints within the market are realized. Of the projects known to be underway between now through 2013 and onwards, 78 installations are planned for 2009. Ninety-one are scheduled in 2010, 30 in 2011, 50 in 2012 and 58 scheduled in 2013 and beyond, according to data compiled by ODS-Petrodata.

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