Offshore staff
FAVERSHAM, UK – Demand for offshore modifications, maintenance, and operations (MMO) services totaled $95 billion last year for the world’s 8,061 offshore platforms, according to analyst Douglas-Westwood.
DW expects spending in this sector to increase by 5.4% during 2015-2019, driven largely by ageing infrastructure requiring maintenance and modification to sustain production levels.
The analyst predicts spending of $426.1 billion over this period on MMO for fixed platforms and $55.6 billion on MMO for floating platforms, despite an anticipated 12% decline in MMO expenditure in 2015.
This is due to some operators delaying major modifications by operators and cuts in MMO not associated directly withproduction.
04/20/2015
