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According to a report by World Energy News on April 28, 2021, according to an in-depth analysis recently completed by the International Maritime Association (IMA) and the World Energy Report (WER), the global deepwater market is rapidly returning to pre-epidemic activities Level, the recovery momentum seems to be strengthening.
Jim McCall, director of IMA/WER, said: “Many buds of recovery have emerged in the global market.
The driving force is OPEC + production cuts and the uneven recovery of the global economy from the new crown epidemic crisis, which has led to an increase in oil consumption.
Since upstream operators suddenly stopped investing in capital projects last year, the floating device production supply chain has been eager to resume production.
McCall added, "As the global economy gets rid of the epidemic in the next 12 to 18 months, the demand to replace reserves will exceed cash growth by then.
The IMA/WER Floating Production Report contains the latest details of more than 200 floating projects in the planning stage.
Li Jun compiled from World Energy News
The original text is as follows:
Market Signals Fast Rebound in Floating Production Orders
The deepwater market is rapidly returning to pre-COVID-19 activity levels, and the recovery appears to be gaining strength, according to a recent in-depth analysis completed by International Maritime Associates (IMA) and World Energy Reports (WER).
“Lots of green shoots have appeared,” says Jim McCaul, head of IMA/WER.
Driving momentum are production curtailments by OPEC+ and rising oil consumption as the global economy unevenly emerges from the COVID crisis.
“The production floater supply chain has been starved for work since upstream operators abruptly stopped spending on capital projects last year.
McCaul adds, “The need to replace reserves will trump cash accretion as the global economy comes roaring out of the pandemic over the next 12 to 18 months.
IMA/WER's floating production report has up-to-date details for more than 200 floater projects in the planning stage.
