Analyst sees short-term rise in offshore accommodation support needs

Offshore staff

FAVERSHAM, UK – Douglas-Westwood (DW) expects average demand for offshore accommodation vessels between 2015 and 2020 to average almost 42,000 personnel on board (PoB) per year.

This represents an increase of 14% compared to the preceding six-year period.

Peak demand is likely between 2016 and 2018, leveling toward 2020 as decreasing numbers of new fixed platform installations and capex restrictions lessen the need for construction support.

DW’s report covers jackups/liftboats, barges (no DP), barges (DP), monohulls, and semisubmersible accommodation units.

Regional offshore accommodation units are used throughout field lifecycles in both capex and opex stages. The analyst forecasts that opex-driven life of field (LoF) support will continue to dominate PoB requirements, accounting for 73% of demand, largely due to the installed base of fixed platforms.

Operators will require temporary accommodation support to minimize platform downtime during maintenance and modification work, thereby ensuring continuity of production, the analyst adds.

Lower oil prices will have a greater impact on accommodation units supporting hookup and installation of platforms and subsea infrastructure, accounting for 27% of PoB requirements over the period.

DW says that Asia, at 26%, accounts for the largest share of accommodation demand over the next six years due to the large number of installed platforms.

Other high-demand areas are large-tonnage platforms off western Europe, smaller fixed platforms offshore North America, and increasing deepwater production in Africa.

06/12/2015

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