LNG and deepwater projects face ‘epic delays’ from 2020 contractor capacity crunch

摘要

Oil, gas and LNG projects face potentially severe delays in 2020 as a surge in new projects is set to overstretch the capacities of oilfield service and construction contractors, according to research firm Rystad Energy. The warning comes as the oilfield services sector continues to grapple with rising costs and diminishing margins. In a bearish market outlook released yesterday, Rystad warned that “a dark cloud of capacity constraints is casting a shadow over the oilfield service industry heading into 2020”. With ~250 new oil and gas projects currently set for development in 2020 – up from 160 in 2016 – services and supply bottlenecks appear inevitable in the coming year, the research firm claimed.