Offshore upstream supply chain: 4 things to look for in 2019

After a tough couple of years, the global offshore market saw continued signs of recovery in 2018. Project FIDs increased and demand for equipment and services is now trickling through the upstream supply chain. Back on their feet and looking towards the next stage of recovery with renewed optimism, both supply chain and operators are anticipating, and preparing for, a tipping point in the offshore market in 2019. Yet this new landscape is sculpted by lessons learned from the downturn. Projects remain lean and phased, and the supply chain continues to focus on compact, modular and standard solutions. These core themes focus on the need to keep project economics low and cycle time short, relatively speaking, for continued market sustainability. This insight looks at our four main themes to watch in 2019.