Due to a prolonged low oil price, a significant decline in new developments is occurring. Especially in deep-waters, new developments are being shelfed. In shallow-waters, the trend is less drastic but still a sharp decline in volume of tender work is being noticed. Offshore Independents (OI) was asked to project the current market outlook on Van Oord Offshore specific market niche and provide some insight in when recovery can be expected. To enable VOO to make decisions with respect to its 4 year strategy, OI has been requested to perform a market analysis, focusing on the global, shallow-waters pipeline market and Single Point Mooring (SPM) Buoy installation and replacement projects.
OI’s scope of work:
The Offshore Independents SoW was to present an outlook of the global shallow-waters pipeline market. In addition, present an overview of potential SPM installation and replacement related prospects. The objective is to gather information about the target markets, analyze trends and tendencies over a defined period of time and then assess forecasted developments