This month Infield Systems Ltd. (ISL) looks at the global subsea market, not just trees, but also manifolds, pipeline end manifolds (PLEMs), templates, wells (satellite & templated), subsea compression, and separation systems. Europe and North America are expected to witness a significant drop in their share of subsea completion related capital expenditure (capex) over the 2007-2011 period, as subsea activities and associated capex across the rest of the world are expected to take an increasing share of the annual forecast total global capex.
Europe, North America and Rest of World (RoW) Subsea Completions Capex 2002-2011
When comparing the subsea completion project numbers across the periods 2001-2006 and 2007-2011, a 112% global rise is forecast. Latin America is predicted to account for the highest percentage rise followed by Asia, Africa, Europe, North America, Australasia, and the Middle East & Caspian region.
However, in capex terms, a 116% rise is expected globally across the two five-year periods of comparison. With global subsea capex forecast to increase in the 2007-2011 period, the regions forecast to witness the largest share of this rise are the Middle East & Caspian followed by Asia, Australasia, Africa and Latin America, with North America and Europe taking a progressively smaller percentage share of the global market.
-Ojus Palathingal, Research Analyst
-Dr. Roger Knight, Editor & Data Manager
