Douglas-Westwood: Deepwater projected to decline 35% through 2020

A recent report from Douglas-Westwood Ltd. forecasts deepwater expenditures to total $137 billion during 2016-20, which represents a 35% decline from its previous forecast covering 2015-19.

“The prolonged low oil price has impacted the deepwater market, with operators considering alternative development options and delaying the sanctioning of new projects,” said Mark Adeosum, report author at Douglas-Westwood.

At this time last year, 210 projects were slated for installation within the subsequent 5 years. Douglas-Westwood now projects 118 projects for installation through 2020.

The report attributes expenditures predominantly driven by Africa and the Americas, which will account for a combined 87% of total deepwater investments.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...