7 months ago

Petromin marine and offshore Jan-Feb Issue

Industry Outlook Oil &

Industry Outlook Oil & Gas Investment to Revive as Confidence Surges “ There seems to be light at the end of the tunnel as the industry takes the first few tentative steps out of the oil price malaise, the journey is far from over but at least we are on the road to recovery. ” The global oil and gas industry is expecting a boost to capital and operational expenditure (capex and opex) in 2018 after a sharp rebound in confidence over the past year. Two-thirds (66%) of industry leaders surveyed for the DNV GL report Confidence and Control: the outlook for the oil and gas industry in 2018 plan to maintain or increase capex in 2018 (figure 1). It is the first rise in this measure in three years. More than half (58%) of respondents expect to maintain or increase opex in 2018, up from 41% last year. 20 January to February 2018

Confidence and Control is based on a survey of more than 800 senior oil and gas professionals and in-depth interviews with 15 business leaders. Published in January, it is DNV GL’s eighth annual benchmark study on industry sentiment, confidence, and priorities. Signs of an increasing appetite already started to emerge in 2017. In the Middle East, for example, Saudi Aramco recently approved plans to spend around USD20 billion (bn) building the world’s largest petrochemicals plant, the first in Saudi Arabia. Exxon Mobil confirmed it will invest the same amount over the next five years in chemical and refining plants along the US’s Gulf Coast. These developments highlight the attractiveness of the downstream segment. Some major offshore projects were greenlighted last year or moving towards eventual approval announcements in early 2018. In the UK, Shell Despite intentions to increase spending, the industry clearly expects to keep a cap on costs, with measures to increase efficiency from existing assets emerging as the top priority upstream, midstream, and downstream (figure 2). Half those surveyed expect to increase cost efficiency in 2018 – more or less the same share as in 2017. Moreover, nearly two-thirds (62%) think that these measures will be permanent changes. is proceeding with redevelopment of its Penguins field and Premier Oil is progressing toward approval of project sanction for Tolmount. Exxon Mobil said it will spend USD4.4bn on the initial phase of the Liza development offshore Guyana, within a block expected Higher Capex Expectations Are Global to hold 2.0–2.5bn barrels of oil equivalent. Meanwhile, Statoil announced the All regions expect capex increases in 2018, according to the study, with investment most likely to increase in the oil refining and gas processing sectors, from integrated companies and from exploration and production (E&P) companies. largest offshore project approved in 2017: the USD5.89bn development of the Johan Castberg field, which will be January to February 2018 21

September/October 2010 - Keppel Offshore & Marine
July/August 2010 - Keppel Offshore & Marine
keppelite april 2013 issue - tj giavridis marine services co. ltd.
May/June 2010 - Keppel Offshore & Marine
January – February 2010 - Keppel Offshore & Marine
Dolphin Jan-Feb 2013.pdf - Sembcorp Marine
keppelite february 2013 issue - tj giavridis marine services co. ltd.
keppelite april 2013 issue - tj giavridis marine services co. ltd.
keppelite february 2013 issue - tj giavridis marine services co. ltd.
The Marine Logistics Specialist in Offshore Support & Out-Port-Limit
Comprehensive Study Report - Canada-Newfoundland Offshore ...
Jan-Feb 2013 issue - Oil India Limited
A Review of Offshore Marine Habitats, Resources, and Issues in ...
GineersNow Oil and Gas Leaders Magazine May 2017 Issue 002, McDermott Offshore
Jan/Feb 2010 Issue - County Woman Newspapers