Rystad tips subsea risks if oil price is sub-US$50

摘要

THE SUBSEA MARKET in 2019 will experience year-on-year growth for the first time since 2014,but the positive outlook is vulnerable to any significant decline in oil prices over the next few years,according to Rystad Energy.Henning Bj0rvik,a Rystad analyst,said,”We expect the subsea market to thrive during the coming years,but market growth will be at risk if the oil price falls to US$50 per barrel.”Rystad analysed the outlook for global subsea segments in the coming years and stated that this year's development is locked in with brownfield opportunities and already sanctioned projects-but the oil price will dictate growth.In a US$60-$70 scenario,the subsea market is set to grow around seven per cent annually up to 2025.But a portion of this activity is at risk if the price falls to US$50 per barrel.The firm believes prices at that level would still be enough to support five per cent annual growth in subsea to 2022,but after that,the growth rate could fall to zero.