Consultants Douglas-Westwood (DW) expect subsea hardware capex to total US $94.3 Bn between 2016 and 2020 - a 19% decline compared with the previous five-year period. “Capex and subsea tree installations are not expected to return to 2014 record levels during the forecast period,” DW said. “This is due to a sustained decline in the number of subsea tree orders, following record order levels in 2013. Historically high backlog levels have cushioned the market against the decline in order activity.
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