The North Sea: is that a recovery on the horizon?

摘要

Owners of offshore support vessels (OSVs) in the North Sea market are anticipating another tough year in 2019 in terms of revenues and margins. But, after a flurry of term contract awards in December 2018, it looks as though fleet utilisation will steadily improve this year. That energy companies are increasing their exploration drilling activities and development expenditure this year -driven by a few large projects and numerous small subsea tie-backs - is also cause for optimism.