As operators and the supply chain adapt to the more challenging conditions, Wood Mackenzie is positioned to support the industry with enhanced market coverage and a developing suite of upstream supply chain solutions. The team takes a look at what 2017 will hold: Further consolidation: M&A, collaboration and joint venture projects are increasingly common across the supply chain – and we expect more of the same in 2017. More FIDs: But it may be towards the end of the year before we see any major increase in associated contract awards. Drilling still in the doldrums: Exploration drilling will remain on a downwards trajectory throughout 2017, whereas development drilling should stay flat. Global vessel market demand driven by deepwater: Newbuild demand will focus on higher spec models, and deepwater will still be the main market driver. Uptick in decommissioning: The number of platforms reaching removal age will accelerate, particularly in the North Sea through to 2020.