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main uncertain, not least as a result of the flounde- the subsea sector is expected to witness further
ring Petroleum Industry Bill (PIB), which has thus far increases in demand offshore Latin America.
taken five years to bring to a vote. However, over Offshore North America, projects within the GoM
the medium term Infield Systems expects subsea will continue to drive demand. In terms of subsea
investment within the country to remain strong, dri- expenditure, Infield Systems expects 2015 to
ven by Total’s Egina field. see a -48% decline on the previous year. Howe-
Within the East African market, a key area of ver, from 2016 the market is expected to pick
growth over the forthcoming five year period, Infield up, with 2019 seeing subsea investment levels
Systems anticipates subsea activity to continue to second only to Latin America. Over the five year
focus upon projects within the Rovuma Basin of- period most notable projects are anticipated to
fshore Mozambique. In terms of spend, Anadarko include Shell’s Stones development - with peak
is expected to lead the operators looking to gain subsea spend in 2016 – Exxon Mobil’s Hadrian
from this frontier region, with the Prosperidade field North and Anadarko’s Heidelberg developments.
driving the operator’s investment demand. In operator investment terms, Shell is expected
The consortium of Eni and CNPC is also expected to hold a leading 21% Capex share over the
to invest substantially offshore Mozambique going 2015-2019 timeframe, followed by BP (11%) and
towards 2019, with the Coral field expected to de- Anadarko (10%).
mand the highest subsea expenditure, particularly
within the final year of the forecast. Asia
Latin America Offshore Asia, although not entirely unaffected by
The Latin American market will continue to be the recent decline in oil prices, Infield Systems ex-
pects for year on year growth throughout the fore-
dominated by Brazil’s large deepwater deve- cast timeframe with a subsea Capex CAGR of 62%
between 2015 and 2019. Expenditure is expected
lopments if Petrobras can push ahead with to continue to be driven by the South East Asian
sub-region, in particular developments associated
most of its ambitious US$ 220.6 billion 2014- with the Gumusut-Kakap hub, Senangin and Ubah
offshore Malaysia. Subsea demand is also ex-
2018 investment plan. Whilst the ultra-deepwa- pected to see growth offshore Indonesia and Bru-
nei amongst others during the longer term to 2019.
ter market is expected to be the hardest hit by Elsewhere in the region, Infield Systems also ex-
pects strong growth offshore India, predominantly
2014’s oil price decline, activity offshore Brazil, as a result of demand from the ONGC operated
Krishna-Godavari fields and the Reliance-operated
particularly within the Dhirubhai D6-R series fields. Indeed, India’s need
to fuel its growing economy has pushed operators
With increasing stability within ultra-deepwater market, to explore in deepwater environments, which will
the market, deepwater Mexico is anticipated to ramp- ultimately have a positive effect on the region’s
is also anticipated to attract up significantly beyond subsea market.
increasing operator interest. 2017. Indeed, Infield
As a result, the subsea sector Systems’ Subsea Mar- Europe
is expected to witness further ket Report to 2019 hi-
increases in demand offshore ghlights a projected 89% Within the European region Infield Systems fo-
subsea capital expen- recasts the highest number of potential subsea
Latin America diture increase across satellite projects to be installed globally over the
the Latin America region 2015-2019 timeframe. Norway and the UK are
between the years 2017 anticipated to hold a combined 94% share of in-
stallations, whilst in subsea Capex terms Norway
and 2018, predominantly is expected to hold a 49% share, followed by the
UK (44%).
as a result of the incre- Other countries within the region that are ex-
pected to see subsea demand include: Italy, Ire-
asing levels of investment needed in a number land and Denmark amongst others. Key field de-
velopments are expected to include Eni’s Goliat,
of projects offshore Brazil, which include Petro- which is forecast to form a 28% share of Europe’s
subsea capital expenditure demand during 2015
bras’ Sururu, Berbiago and the Lula Alto fields. and the continued development of Ormen Lange,
whilst the Quad 204 Schiehallion redevelopment
In time, and with increasing stability within the over the medium-term to 2018 and Johan Sver-
drup towards the end of the five year forecast
market, deepwater Mexico is also anticipated to
attract increasing operator interest. As a result,
54 Impiantistica Italiana - Luglio-Agosto 2015
