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Upstream supply chain in brief

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11 July 2019

Upstream supply chain in brief

Report summary

The upstream supply chain in brief provides critical insight on the latest market news and trends within the offshore oil and gas market. Within this offering, Wood Mackenzie's team of dedicated supply chain experts are uniquely positioned to add value to our clients by translating market event drivers into possible implications for the global supply chain. Insight around market events is driven by deep understanding of the upstream supply chain space and compliments the team's offering providing global and regional capex forecasts, news on the latest contracting activity as well as installation trends.

Table of contents

    • Deepwater well demand forecast: measured growth in a restrained environment
    • Elevated SURF award activity continues through H1 2019
    • Offshore project FIDs brewing for H2 2019
    • Aker BP’s supplier alliances pay off at Valhall
    • Mozambique Area 1 boosts subsea umbilical awards to highest since 2010
    • Deepwater demand is growing, supply tightens, cost increases expected
    • Room for all in the surging FPSO sector?
    • Upstream Supply Chain industry briefing 2019
    • OTC spotlight on new technology
    • The current situation: Tier-1 contractor backlogs – not all contracts are equal
    • Wood Mackenzie at OTC 2019
    • Transocean – reported results
    • Diamond Offshore – reported results
    • An acid test in the offshore recovery – will 2019 yield larger projects?
    • To be acquired or not to be?
    • Explosive SURF award activity in Q1 2019
    • Global deep water drilling prepares to enter a multi-year growth cycle
    • Offshore production systems: A year for Modec?
    • Will 2018’s subsea growth be repeated in 2019?
    • Sete on the mend?
    • Talking points from our European trip
    • Subsea 7 S.A. Fourth quarter and full year 2018 results – key takeaways
    • Q4 results show subsea sector is back in business
    • SBM 2018 earnings call: strategic takeaways
    • Telford Offshore Fleet Expansion
    • Contract awards update
    • Offshore rig data dashboard
    • A big year ahead for subsea in Norway
    • Two sugars, no cream: Ensco sweetens the deal with Rowan for a second time
    • Sights set on the horizon, looking forward to 2019
    • Inpex gears up for Ichthys phase two
    • Saudi Aramco awards major EPCI contracts in Q1 2019 off Saudi Arabia
    • Anticipating a strong Q4 2018 for subsea order books
    • Marine contractors vying for Saudi Aramco's Marjan tender
    • Floating platform award outlook
    • 2018 SURF (subsea umbilicals, risers and flowlines) award wrap-up
    • Eni in works to reawaken deepwater Angola greenfield activity
    • The subsea supply chain’s push to improve project economics
    • Ageing workhorses of the floater market
    • Deepwater cost inflation on the horizon
    • Subsea 7 S.A. Q3 2018 results
    • Taking the temperature of the subsea market in Houston
    • What is the cost of recovery in deepwater?
    • October supply chain contract round up
    • Semi-sub market warming up
    • Saipem receives Absheron contract
    • Two major SURF (subsea umbilicals, risers, flowlines) awards up for grabs - will TechnipFMC clutch them both?
    • Two landmark awards for the subsea industry
    • Kings Landing award gives much needed boost to Hyundai
    • Ensco and Rowan merger makes waves
    • 2018 SURF (subsea umbilical, riser and flowline) awards surpass 2017 activity
    • Equinor taps into Aker Solutions and TechnipFMC for further collaboration
    • Total prepares for Latin America drilling
    • Larger orders set up subsea market for growth in 2018
    • Operators continue to secure 2019 rig slots at bottom pricing
    • Global pipeline and umbilical forecast has seen increased installation activity in 2018
    • The Americas continue to dominate the FPS award outlook
    • Recent fixture activity
    • Optimism in the air at ONS
    • Offshore rig markets: positioning themselves for recovery
    • Transocean expands premium fleet with purchase of Ocean Rig
    • Johan Sverdrup phase 2 moving forward
    • July and August contract award round up
    • Subsea demand ramping up in H1 2018
    • Gulf of Mexico lease sale 251 demonstrates strength
    • Offshore collaborative towards North Sea innovation
    • North Sea drilling outlook
    • In high spec, high optimism
    • Noble Plc – Earnings Release
    • Vintage Jackups – A long awaited nail in the coffin?
    • Deepwater demand drove costs down, but the tide is turning
    • The Majors are preparing for deepwater action, but taking their time to do it right
    • Rowan Cos. Plc – reported results
    • Transocean Ltd. – reported results
    • Ensco plc – reported results
    • Transocean leads the pack with substantial contract awards in Q2-2018
    • A more positive outlook for the deepwater drilling market
    • Total continues US$575,000/day drillship charter in Angola
    • The recovery is here, but don’t get too jacked-up
    • Offshore contracting activity is picking up the pace
    • East is best for the subsea market in 2018
    • Yard backlogs boosted as FPS construction awards continue
    • Creatively cultivating opportunities: Premier Oil's Sea Lion and Dril-Quip
    • Block 17 boosts Sub-Sahara subsea market
    • Fast4Ward for Liza
    • Integrated subsea offerings – are they making a difference?
    • Rowan secures an important contract for the Relentless drillship
    • CNOOC Ltd hands 2018’s largest subsea tree order to TechnipFMC
    • Brazil is back on the radar for drilling contractors
    • New local content rules to the rescue
    • May contracts round-up
    • Downturn + smaller project = tough installation market
    • Shell finds more success in Jurassic with the Dover discovery
    • Could P&A work save the day for elderly rigs?
    • Subsea orders in Q1 2018: strong overall demand, Norway still in front
    • Jurong lures private equity dollars into the ultra- deepwater rig sector
    • Rosebank moving towards FID
    • Borr sells off Paragon assets in one fell swoop
    • Dash for gas gives a boost to offshore activity
    • Increased SURF tender and award activity driven by cost reductions
    • Deepwater day rates remain persistently low
    • Statoil protects against inflation with new rig contract
    • Subsea 7 issues unsolicited proposal to acquire McDermott
    • Subsea market flips back to growth
    • Bottom for deep water rig market looms
    • Global subsea cost outlook
    • Positive subsea activity leads to strong 2018 demand potential
    • Leased FPSO market overview
    • Transocean third quarter earnings call
    • Noble Corp. third quarter earnings call
    • Diamond Offshore third quarter earnings call
    • Ensco Drilling third quarter earnings call
    • Subsea market improving, but remains challenging for supply chain
    • 2017 SURF contract award activity
    • Global deepwater exploration activity
    • Borr Drilling snaps up nine new jackups
    • Deepwater rig counts & utilisation
    • Transocean extends back-log for Deepwater Invictus
    • Worley Parsons to acquire the UK business section of Amec Foster Wheeler
    • Libra Pilot project update
    • ROV utilisation ratesto recover

Tables and charts

This report includes 104 images and tables including:

  • Pipeline & Umbilical Installation Activity by Market Segment 2010-2023e
  • EPCI awards by contractor
  • EPCI awards by region
  • Oil projects with potential FID in 2019
  • Gas projects with potential FID in 2019
  • Build time of topsides less than 2,500 tonnes – European projects since 2000
  • Largest single subsea umbilical contracts since 2000
  • Deepwater equipment and service demand index
  • FPSO bidding activity
  • Tier 1 marine contractor backlogs
  • OTC presentation schedule
  • Financial scorecard
  • Financial scorecard
  • 2018 subsea contract awards by well count
  • 2019 forecast subsea contract awards by well count
  • Global SURF installation activity 2010-2024
  • Average leading edge rates (US$K)
  • Near-term FPSO bidding activity
  • Selected 2019 FPSO awards
  • Subsea tree awards and forecast
  • Subsea tree awards 2012-2018
  • Leased FPSO awards 2019-2021 - base case
  • Marine construction fleet
  • Norwegian subsea projects with expected FID and/or award in 2019
  • Subsea tree awards 2018 vs 2019
  • Middle East pipeline and umbilical activity by pipeline diameter
  • Floating platform award forecast to 2022
  • Major SURF awards in 2018
  • Tier 1 contractor backlogs
  • Nigeria and Angola subsea tree demand (forecast = base case)
  • Nigeria and Angola subsea tree vs FPS demand (% of global demand)
  • Eni's global subsea production system procurement trends
  • Eni's Angola drilling rig activity
  • Pre-FID subsea trees by breakeven
  • Global deepwater demand indices (2013 = 100)
  • Forecast Norway, UK semi-sub counts (Includes non-HE and HE Semi-subs)
  • Proportion of subsea tree demand driven by the Majors and Petrobras
  • FPS* awards 2013-2018 by manufacturer
  • Global floating rig utilisation forecast
  • Major SURF contracts awarded since June 2018
  • Equinor's subsea tree suppliers 2010-Q2 2018
  • Global Subsea tree awards and forecast 2012 - 2022
  • Pipeline and umbilical installation activity (KM)
  • Global demand by region 2018-2022e
  • Floating platform hull awards by operator 2018-2022e
  • Global subsea tree market share for H1 2018 (133 units)
  • High specification jackup utilisation
  • Market share of contracted jackups by generation
  • Americas' critical deepwater market demand indices
  • Vito's improvements in costs and returns, 2015 view vs. current view
  • Supply by owner
  • Reactivations from cold stack
  • Ranking of contractors by 7th generation fleets
  • Floating rig utilisation
  • Top ten contracted drillships by day rate
  • Jackup rig counts
  • Year-on-year change in global, offshore contract* awards
  • Annual offshore contracting activity*
  • 2018 potential major awards (projects with 8+ subsea trees)
  • Subsea tree awards 2013-2017 by market share
  • Africa subsea tree forecast by country
  • Latin America and the Caribbean floating platform hull award forecast 2018-2022
  • Subsea contract awards
  • Top operators driving demand through to 2021
  • Long term operator-supplier relationships
  • CNOOC order book
  • Petrobras rig tenders
  • Global Subsea Cost Index
  • Pipelay Vessel Fleet by Key Operators (#Vessels)
  • Newbuild lay vessels through 2023
  • Jurassic discoveries by Shell in GoM
  • Recent contracts for the WilPhoenix
  • North Sea decomissioning stats
  • Global subsea orders with average size tree count
  • Q1 2018 Subsea orders by manufacturer
  • Premium Norwegian harsh environment (HE) semisub versus global midwater semisub leading edge dayrate
  • US Gulf of Mexico subsea tree demand versus global demand (base case)
  • Subsea tree demand by operator type (2013-2022e; ~2,600 units)
  • 2017 subsea tree awards for the US Gulf of Mexico
  • Jackup unit counts
  • Asset locations
  • Active project tender list for SURF contracts
  • Leading edge day rates - drillships
  • Well count by region
  • Operational and stacked drillships
  • Norway harsh environment rig rates and contract lengths vs. global
  • Timeline of Subsea 7 alliances and acquisitions
  • Contractor backlogs
  • 2017 Subsea tree awards by manufacturer
  • Historical and forecast subsea tree awards
  • Key EPC (I) and decommissioning contract activity
  • Utilisation by rig category
  • Day rates by rig category
  • Subsea cost index
  • High profile subsea opportunities
  • FPSO awards 2012-2021e
  • Global subsea tree forecast (base case)
  • 2017 EPIC SURF contracts
  • Tier 1 contractor backlog progression
  • Exploration forecast to 2021
  • Jackup counts and utilisation
  • Floater counts and utilisation
  • Subsea Tree Awards Forecast
  • ROV count vs ROV utilisation for heavy and mid ROVs

What's included

This report contains:

  • Document

    Upstream supply chain in brief

    PDF 3.26 MB

  • Document

    Rig Data Dashboard 07-15-2019.pdf

    PDF 143.92 KB

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