remotely operated vehicles (rov) in the energy industry 2014 2024

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Remotely Operated Vehicles (ROV) in the Energy Industry 2014-2024

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Chapters 1. Executive Summary 1.1 Global ROV Market Overview

1.2 Benefits of This Report

1.3 Who is This Report For?

1.4 Methodology & Market Definition

1.5 Global ROV Market Forecast 2014-2024

1.6 Regional ROV Market Forecasts 2014-2024

1.7 Global AUV Market Forecast 2014-2024

2. Introduction to the ROV Market 2.1 Remotely Operated Vehicles in the Energy Industry

2.2 Brief History of ROVs

2.3 Types of ROV

2.4 ROV Tasks in the Energy Industry

2.5 ROVs in the Energy Market: Market Definition and Structure

3. Global Market Forecast for ROVs in the Energy Industry

2014-2024 3.1 What Are the Core Drivers and Restraints Affecting CAPEX on ROV Operations, Services and Construction

Worldwide?

3.2 What Activity Type is Currently the Most Important to Spending on ROVs?

3.3 ROV Demand Cycle

3.4 What Are The Most Prominent Regional Trends In The Energy Industry Affecting CAPEX On ROVs?

4. ROV Submarket Forecasts 2014-2024 4.1 Global ROV Operations/Services Submarket 2014-2024

4.1.1 How Will Offshore Oil and Gas E&P Activity Affect ROV Utilisation Rates?

4.1.2 How Much Demand Growth is Expected for Offshore Maintenance/Inspection Activity and What

Impact Will This Have on ROV Demand?

4.1.3 How Does the Decommissioning Market Affect the ROV

4.1.4 What Are The Main Restraints on the ROV Operations and Services Submarket?

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Chapters 4.2 Global CAPEX on New Build ROVs 2014-2024

4.2.1 Drivers and Restraints on ROV New Build CAPEX

4.2.2 Who Manufactures ROVs?

4.2.3 Which Regions Contain Dominant ROV Manufacturers and Why?

4.2.4 How Likely Is It That There Will Be An Increase in the Regional Diversity of ROV Construction?

4.3 Global CAPEX on New Build Observation, Inspection and Light Work Class ROVs for the Energy Industry

4.4 Global CAPEX on Medium- and Heavy-Work Class ROVs for the Energy Industry

5. Regional ROV Market Forecasts 2014-2024 5.1 ROV Markets Barriers to Entry Analysis

5.1.1 Regional Markets Barriers to Entry Analysis

5.1.2 What Are The Barriers to Becoming a Manufacturer and/or Operator of an ROV(s)?

5.1.3 ROV Submarket Barriers to Entry Analysis

5.2 ROVs in the European Energy Industry Market Forecast 2014-2024

5.2.1 Drivers and Restraints on the European ROV Market

5.2.2 Major European Subsea Hardware Installation and Offshore Drilling Projects

5.2.3 How Great Will Offshore Maintenance Requirements Be in Europe?

5.2.4 How Important is Offshore Decommissioning to ROV Demand in Europe?

5.2.5 UK Offshore Decommissioning

5.2.6 Norwegian Decommissioning

5.2.7 Will A Slowdown in Offshore E&P Activity to Affect European ROV Demand?

5.3 ROVs in the North American Energy Industry Market Forecast 2014-2024

5.3.1 Drivers and Restraints on the North American ROV Market

5.3.2 Major North American Subsea Hardware Installation and Offshore Drilling Projects

5.3.3 What Influence Will Safety Regulations Have on ROV Demand in the Gulf of Mexico?

5.3.4 What Will The Impact of Mexican Constitutional Changes Be On ROV Demand?

5.3.5 What Impact Will Decommissioning Activity In The Gulf of Mexico Have On The North American

ROV Market?

5.4 ROVs in the South American Energy Industry Market Forecast 2014-2024

5.4.1 Drivers and Restraints on the South American ROV Market

5.4.2 Major South American Subsea Hardware Installation, FPSO Installation and Offshore Drilling =

Projects

5.5 ROVs in the African Energy Industry Market Forecast 2014-2024

5.5.1 Drivers and Restraints on the African ROV Market

5.5.2 Which Offshore Spaces Around Africa Will See The Greatest Increase in ROV Demand

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Chapters 5.5.3 Major African Subsea Hardware Installation and Offshore Drilling Projects

5.5.4 Challenges To The Development of an East African Offshore Industry

5.6 ROVs in the Asia Pacific Energy Industry Market Forecast 2014-2024

5.6.1 Drivers and Restraints on the Asia-Pacific ROV Market

5.6.2 Major Asia Pacific Subsea Hardware Installation and Offshore Drilling Projects

5.6.3 How Important is Decommissioning Activity in the Asian Pacific Region to ROV Spending?

5.7 Market Forecast for ROVs in the Energy Industry of the Rest of the World 2014-2024

5.7.1 Major Subsea Hardware Installation and Offshore Drilling Projects in the Rest of the World

6. Autonomous Underwater Vehicles in the Energy

Industry 6.1 Autonomous Underwater Vehicles (AUVs)

6.2 Global Market Forecast of AUVs for the Energy Industry 2014-2024

6.2.1 Amount of AUVs Utilised in by the Energy Industry

6.2.2 Global Drivers & Restraints on AUV Use by the Energy Industry

6.2.3 AUV CAPEX vs. ROV CAPEX

7. PEST Analysis of the ROV Market 2014-2024

8. Expert Opinion 8.1 Saab Seaeye

8.1.1 Saab Seaeye in the ROV Market

8.1.2 The Evolution of the ROV/AUV Markets

8.1.3 Improving HSQE Standards Offshore and the ROV Market

8.1.4 Are ROVs Becoming Increasingly Specialised Or Is Their Functionality Range Increasing?

8.1.5 What Are The Reasons For An ROV To Be Retired?

8.1.6 What Limitations Are There On The ROV Market?

8.1.7 ROV Price Variability

8.1.8 How Sector Specific Are ROVs?

8.1.9 Innovation in the ROV Industry

8.1.10 Will Any One Type of ROV Be In Particularly Strong Demand Going Forward?

8.1.11 Are There Any ROV Manufacturers Outside of Europe and North America?

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Chapters 8.1.12 Asian Pacific Competition in the ROV New Build Market

9. Leading Companies in the ROV Market 9.1 New Build ROV Manufacturers

9.1.1 Forum Energy Technologies

9.1.1.1 Future Outlook

9.1.1.2 Relevant Merger & Acquisition Activity

9.1.2 Saab Seaeye Overview


9.1.3 Schilling Robotics Overview

9.1.3.1 Schilling Becomes Part of FMC Technologies


9.1.4 Soil Machine Dynamics (SMD) Overview


9.1.5 VideoRay Overview


9.2 New Build ROV Manufacturers & ROV Service Providers/Operators

9.2.1 Fugro Overview


9.2.2 Hallin Marine Overview


9.2.3 IKM Gruppen (IKM Subsea) Overview


9.2.4 Oceaneering International Inc. Overview


9.2.4.2 Drill Support and the MODU Market

9.2.5 Subsea 7 S.A. (incl. i-Tech) Overview


9.3 ROV Service Providers/Operators

9.3.1 Canyon Offshore Overview


9.3.2 DeepOcean Group Overview


9.3.3 DOF Subsea Overview


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Chapters 9.3.4 Harkand Overview

9.3.5 Saipem Overview


9.3.6 Technip Overview


9.4 Other Leading Companies in the Market

10. Conclusions & Recommendations 10.1 Global ROV Market Outlook `

10.2 Global ROV Market Drivers & Restraints

10.3 Global and Submarket ROV Forecasts 2014-2024

10.4 Leading Regional Market Forecasts 2014-2024

11. Glossary

List of Tables Table 1.1 Global ROV Submarket Forecast Summary 2014, 2019, 2024 ($m, CAGR %)

Table 1.2 Regional ROV Market Forecasts Summary 2014, 2019, 2024 ($m, CAGR %)

Table 3.1 Global Market Forecast 2014-2024 ($bn, AGR %, CAGR%, Cumulative)

Table 3.2 Global ROV Market Drivers and Restraints

Table 4.1 ROV Submarkets CAPEX Forecast, by region, 2014-2024 ($m, AGR %, CAGR%)

Table 4.2 ROV Operations/Services CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%)

Table 4.3 Australian LNG Export/Liquefaction Terminals Planned/Under Construction To Be Fed by North West Shelf

Offshore Natural Gas (Location, Operator/Owner, Capacity, Construction Cost $, Construction Period)

Table 4.4 Regulation with Affect on Offshore Decommissioning (Name of Regulation, Description of Regulation)

Table 4.5 Regional Offshore Oil and Gas Decommissioning Market Forecasts Summary 2013, 2018, 2023 ($m),

2013-2023 CAGR (%)

Table 4.6 ROV New Build CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%)

Table 4.7 ROV New Build Drivers and Restraints

Table 4.8 Observation, Inspection and Light Work Class CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%)

Table 4.9 Medium- & Heavy Work Class ROV New Build CAPEX Forecast 2014-2024 ($m, AGR %, CAGR%)

Table 5.1 Regional ROV Market Forecast 2014-2024 ($m)

Table 5.2 European ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%)

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Chapters Table 5.3 European ROV Market Drivers & Restraints

Table 5.4 Major Norwegian Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority Partner,

Status)

Table 5.5 Major UK Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority Partner, Status)

Table 5.6 Major European Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway

(Project, Majority Partner, Country, Status)

Table 5.7 Current Contracts and Projects in the UK North Sea (Area, Operator, Estimated Costs, Estimated Period)

Table 5.8 Structure Characteristics of the Brent Field

Table 5.9 Major Projects Considered for Decommissioning (Location, Operator, Status)

Table 5.10 North American ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%)

Table 5.11 North American ROV Market and Submarket Forecasts 2014-2024 ($m, AGR %, CAGR%)

Table 5.12 North American ROV Market Drivers & Restraints

Table 5.13 Status of Major North American Drill Support and Subsea Hardware Installation Projects Requiring ROVs


Table 5.14 South American ROV Market 2014-2024 ($m, AGR %, CAGR%)

Table 5.15 South American ROV Market Drivers & Restraints

Table 5.16 Major South American Subsea Hardware Installation and Offshore Drilling Projects (Project, Majority

Partner, Country, Status)

Table 5.17 Current Brazilian FPSO Projects (Owner, Location, Field Operator, Status, Earliest Operation)

Table 5.18 Recent & Upcoming Offshore Licensing Rounds in South America

Table 5.19 African ROV Market 2014-2024 ($m, AGR %, CAGR%)

Table 5.20 African ROV Market Drivers & Restraints

Table 5.21 Major African Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway


Table 5.22 East African Countries’ Global Competitiveness Report 2012-2013 Scores

Table 5.23 East African Countries’ Doing Business 2013 Scores

Table 5.24 East African Countries’ Corruption Perception Index 2012 Scores (Out of 174)

Table 5.25 Asia Pacific ROV Market 2014-2024 ($m, AGR %, CAGR%)

Table 5.26 Asia Pacific ROV Market Drivers & Restraints

Table 5.27 Major Asia-Pacific Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway


Table 5.28 Recent Offshore Licensing Rounds in Asia Pacific

Table 5.29 Rest of the World ROV Market 2014-2024 ($m, AGR %, CAGR%)

Table 5.30 Major Subsea Hardware Installation and Offshore Drilling Projects in the Rest of the World

Table 6.1 Global AUV Market Forecast 2014-2024 ($m, AGR %, CAGR%, Cumulative)

Table 6.2 Global Drivers & Restraints on AUV Use by the Energy Industry

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Chapters Table 7.1 PEST Analysis of the Market 2014-2024

Table 9.1 Leading Companies in the ROV Market by Type (Manufacturers, Manufactures/Service Providers, ROV

Services)

Table 9.2 Forum Energy Technologies (FET) Overview (Total Revenue (2012), Submarket, HQ, Website)

Table 9.3 Forum Energy Technologies Product Overview

Table 9.4 Saab Seaeye Overview (Revenue, Submarket, HQ, Website)

Table 9.5 Saab Seaeye Product Overview

Table 9.6 Schilling Robotics Overview (Submarket, HQ, Website)

Table 9.7 Schilling Robotics Product Overview

Table 9.8 Soil Machine Dynamics Overview (Revenue, Submarket, HQ, Website)

Table 9.9 Soil Machine Dynamics Product Overview

Table 9.10 VideoRay Overview (Revenue, Submarket, HQ, Website)

Table 9.11 VideoRay Product Overview

Table 9.12 Fugro Overview (Revenue, Contract Backlog, Number of ROVs, Submarket, HQ, Ticker, Website)

Table 9.13 Fugro ROVs (Model, Type, Depth Rating, Payload, Power, Manipulators)

Table 9.14 Hallin Marine Overview (Revenue, ROVs, Submarket, HQ, Ticker, Website)

Table 9.15 Hallin Products (Model, Type, Depth Rating, Payload, Power)

Table 9.16 IKM Gruppen Overview (Revenue, ROVs, Submarket, HQ, Website)

Table 9.17 Major IKM Gruppen Recent and Ongoing Projects (Client/Country, Value, Date, Details)

Table 9.18 Oceaneering International Inc. Overview (Total Revenue, Revenue from Market, % Revenue From

Market, ROVs, Submarket, HQ, Ticker, Website)

Table 9.19 Oceaneering International Inc. Product Overview

Table 9.20 MODU Submarket Forecasts Summary 2013, 2018, 2023 ($m, CAGR %)

Table 9.21 Subsea 7 (incl. i-Tech) Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website)

Table 9.22 Subsea 7 & i-Tech ROV Overview (Model, Type, Depth Rating, Payload, Power, Manipulators)

Table 9.23 Canyon Offshore Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website)

Table 9.24 DeepOcean Overview (ROVs, Submarket, HQ, Website)

Table 9.25 North Sea Offshore Oil and Gas Decommissioning Market Forecasts 2013, 2018, 2023 ($m), 2013-2023

CAGR (%)

Table 9.26 DOF Subsea Overview (Operating Income, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website)

Table 9.27 DOF Subsea Vessel Orders (Vessel, Yard, Delivery, Type, Contract)

Table 9.28 Harkand Overview (Submarket, HQ, Website)

Table 9.29 Saipem Overview (Revenue, Contract Backlog, ROVs, Submarket, HQ, Ticker, Website)

Table 9.30 Technip Overview (Total Revenue (2011), Contract Backlog, ROVs, Submarket, HQ, Ticker, Website)

Table 9.31 Other Leading Companies in the ROV Market 2013 (Company, Involvement in the ROV Market)

Table 10.1 Global ROV Market Drivers and Restraints

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Chapters Table 10.2 Global ROV Submarket Forecast Summary 2014, 2019, 2024 ($m, CAGR %)

Table 10.3 Regional ROV Market Forecasts Summary 2014, 2019, 2024 ($m, CAGR %)

List of Figures Figure 2.1 Unmanned Underwater Vehicles Overview

Figure 2.2 Approximate ROV Market Share by Industry Sector 2013 (%)

Figure 2.3 Offshore Tasks Supported by ROVs

Figure 2.4 ROV Market Structure Overview

Figure 3.1 Global ROV Market Forecast 2014-2024 ($m, AGR%)

Figure 3.2 ROV Demand Cycle against CAPEX (Markets Forecast in Bold)

Figure 4.1 ROV Submarkets CAPEX Forecast, 2014-2024 ($m, AGR %)

Figure 4.2 ROV Operations/Services CAPEX Forecast, 2014-2024 ($m, AGR %)

Figure 4.3 ROV Operations/Services Market Forecast by Region 2014-2024 ($m)

Figure 4.4 ROV Operations/Services Market Forecast by Region 2014-2024 ($m)

Figure 4.5 ROVs Submarkets by Region Market Share, 2014 (%)



Figure 4.8 ROVs Submarkets (New Build vs. Operations/Services) Market Share 2014, 2019, 2024 (%)

Figure 4.9 Offshore ‘Golden Triangle’ Oil and Gas Reserves (bn bbl, tcf)

Figure 4.10 Crude Oil Spot Prices, 2003-2014 ($/bbl)

Figure 4.11 Proven and Unproven Offshore Oil & Gas Reserves in the World

Figure 4.12 Global Distribution of Offshore Oil and Gas Installations (%)

Figure 4.13 North Sea Oil Production, 1999-2012 (Thousand bpd)

Figure 4.14 ROVs Submarkets (New Build vs. Operations/Services) Market Share 2014, 2019, 2024 (%)

Figure 4.15 ROV New Build CAPEX Forecast 2014-2024 ($m, AGR%)

Figure 4.16 Observation, Inspection and Light Work Class vs. Medium- to Heavy- Work Class Ratio (%)

Figure 4.17 Observation, Inspection and Light Work Class Market Share Forecast 2014-2024 ($m, AGR%)

Figure 4.18 Medium- & Heavy Work Class ROV New Build CAPEX Forecast 2014-2024 ($m, AGR%)

Figure 4.19 Observation, Inspection and Light Work Class vs. Medium- to Heavy- Work Class Ratio (%)

Figure 4.20 ROV Fleet Makeup, 2007 (Observation & Mini Inspection vs. Inspection, Observation, Search & Survey

and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial)





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Chapters Figure 4.23 ROV Fleet Share Change %, 2007-2013 (Observation & Mini Inspection vs. Inspection, Observation,

Search & Survey and Light Work vs. Large and Medium Work and Support vs. Trenching and Burial)

Figure 4.24 ROV Medium and Heavy Work Class Fleet by Owner/Operator (Number of Units)

Figure 5.1 Regional ROV Market Forecasts 2014-2024 ($m)

Figure 5.2 Leading Regional Markets Share Forecast 2014 (%)



Figure 5.5 Cumulative CAPEX by Regional Market, 2014-2024 ($m, %)

Figure 5.6 Regional ROV Market CAGRs (%), 2014-19, 2019-2024, 2014-2024 ($m, %)

Figure 5.7 Regional ROV Market Share Change, 2014-2024 (%)

Figure 5.8 Barriers to Entry vs. National Market Size 2013 vs. CAGR% 2014-2024 ($m, AGR%)

Figure 5.9 European ROV Submarket Share Forecast for CAPEX on New Build ROVs 2014, 2019, 2024 (%)

Figure 5.10 European ROV Submarket Forecasts 2014-2024 ($m, AGR%)

Figure 5.11 Locations and Age of Infrastructure on the UK Continental Shelf

Figure 5.12 North Sea Oil Production, UK & Norway, 1999-2012 (Thousand bpd)

Figure 5.13 Average European Offshore Rig Count 2000-2012 (Units)

Figure 5.14 Number of Offshore UK Wells 1964-2011 (Exploration, Appraisal, Development)

Figure 5.15 North American ROV Market Share Forecast 2014, 2019, 2024 (%)

Figure 5.16 North American ROV Submarket Forecasts 2014-2024 ($m, AGR%)

Figure 5.17 Overview of Subsea Installation in the Gulf of Mexico

Figure 5.18 Location of Active Offshore Oil and Gas Platforms in the Gulf of Mexico

Figure 5.19 Water Depths of Active Oil & Gas Platforms in the Gulf of Mexico (% of Total)

Figure 5.20 South American ROV Market Forecast 2014-2024 ($m, AGR%)

Figure 5.21 South American ROV Market Share Forecast 2014, 2019, 2024 (%)

Figure 5.22 African ROV Market Forecast 2014-2024 ($m, AGR%)

Figure 5.23 African ROV Market Share Forecast 2014, 2019, 2024 (%)

Figure 5.24 Asia Pacific ROV Market Forecast 2014-2024 ($m, AGR%)

Figure 5.25 Asia Pacific ROV Market Share Forecast 2014, 2019, 2024 (%)

Figure 5.26 Total Oil Production in Malaysia 1980-2012 (Thousand bpd)

Figure 5.27 Total Oil Production and Estimated Net Exports in Indonesia 1980 – 2012 (Thousand bpd)

Figure 5.28 Rest of the World ROV Market Forecast 2014-2024 ($m, AGR%)

Figure 5.29 Rest of the World ROV Market Share Forecast 2014, 2019, 2024 (%)

Figure 6.1 Global AUV Market Forecast 2014-2024 ($m, AGR%)

Figure 6.2 AUV New Build CAPEX vs. ROV New Build CAPEX 2014, 2019, 2024 ($m, %)

Figure 9.1 Work Class ROV Fleet by Company, 2008-2013 (Number of Units, Company)

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Chapters Figure 9.2 Percentage of the Work Class ROV Fleet Operated by Each Company, 2008-2013 (% of Work Class Fleet,

Company)

Figure 9.3 Fugro ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs)

Figure 9.4 Oceaneering ROV Fleet Share (%), 2008 & 2013

Figure 9.5 Oceaneering ROV Fleet Share (%), 2008-2013

Figure 9.6 Oceaneering ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs)

Figure 9.7 Subsea 7 S.A. Revenue Development 2007-2012 ($m)

Figure 9.8 Subsea 7 Revenue Share by Region ($m, %) FY2012

Figure 9.9 Canyon Offshore ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs)

Figure 9.10 DOF Subsea ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs)

Figure 9.11 Technip ROV Fleet Forecast, 2008-2018 (Number of Work Class ROVs)

Figure 9.12 Technip Revenue Share by Region (%) 2012

Figure 10.1 Global ROV Submarket CAGR Forecasts 2014, 2019, 2024 (CAGR %)

Figure 10.2 Global ROV Submarket CAPEX Forecast, 2014-2024 ($m)

Figure 10.3 Global ROV Submarket CAPEX Forecast, 2014-2024 ($m)

Companies Mentioned in this Report Acergy S.A.

AF Decom Offshore

Ageotec

AGR Field Operations Holdings AS

Aker Solutions

Allseas

Anadarko

Andrews Survey

Antrim Energy Inc.

Apache Corporation

Archer

Atlas Elektronik

ATP Oil & Gas

Baker Hughes

BG Group

BHP Billiton

Blade Petroleum Ltd.

Bowtech products

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Chapters BP

BPZ Energy

Bridge North Sea

Canadian Natural Resources (CNR)

Canyon Offshore

Centrica plc

Chevron

Chubu Electric Power

C-Innovation

CNOOC China Limited

ConocoPhillips

CTC Marine Projects

Dana Petroleum

Deep Ocean Engineering Inc.

DeepOcean Group

Det Norske Oljeselskap ASA

DOF AS

DOF Group

DOF Subsea

Dominion Diving

DONG Energy

Dubai Petroleum

Dynacon

ECA Robotics

Encana

Endeavour International

Energy Resource Technology

ENI

ENI UK Ltd

EnQuest PLC

EOG Resources Inc.

EON

ExxonMobil

Floatation Technologies

FMC Technologies

Forum Energy Technologies

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Chapters Fugro

Fugro Subsea Services Limited

GDF Suez

Gujarat State Petroleum Corporation

Hallin Marine

Harkland

Heerema Marine Contractors

Helix Energy Solutions Group

Hess Ltd

Hibiscus Petroleum

Husky Energy

IKM Gruppen

IKM Subsea

INPEX

Inpex Browse Ltd

Integrated Subsea Services

International Submarine Engineering

iSurvey Group AS

i-Tech

Itochu

Kodeco

Kuwait Foreign Petroleum

Kystdesign AS

LLOG

Lukoil

Lundin Petroleum

Maersk Oil

Marathon Oil UK

Mariscope

McDermott

Mermaid Maritime

Mitsubishi

MMTSweden AB

MODEC

MR Subsea KS

Murphy Oil

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Chapters Neptune Marine Services

Nexen Inc.

Noble Energy

NYK Line

Oaktree Capital Management

Ocean Modules

Oceaneering International

Oceanvision

OceanWorks

Odebrecht

Osaka Gas

PDL Solutions Ltd

Pearl Energy

Pemex

Perenco Oil and Gas

Petrobras

Premier Oil

PTTEP

Qatar Petroleum

Rialto Energy Ltd

Rosneft

ROVOP

RWE-DEA

Saab Underwater Systems AB

Saab-Seaeye

Saipem

Salamander Energy

Santos

SBM Offshore

ScanSense

Schahin Group

Schilling Robotics

Seabotix

Seamor Marine

Seaview Systems

Semisubmersible Systems Inc.

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Chapters Serica Energy

Shell

Shell Australia

Sidus Solutions

SMD (Soil Machine Dynamics)

SNK Ocean Co. Ltd.

Sogenal Ltd.

Soil Machine Dynamics (SMD)

Sonsub

Seadrill

Statoil

Stone Energy

Sub-Dimension Engineering Ltd

Subsea 7

Subsea Vision

Superior Energy Services

SURF Subsea

Syntech Technology

Tech-Fab

Technip

Teekay

Teledyne RD Instruments

The MacArtney Underwater Technology Group

Toho Gas

Tokyo Gas

Total E&P Australia

Total S.A.

TradeWinds Petrotrade

Transocean

Trelleborg

Trico Supply

TS Marine Group Holdings Pty Ltd

Veolia Marine Services

VideoRay

Wood Group PSN

Woodside

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Chapters Xcite Energy

YPF

Government Agencies and Other Organisations

Mentioned in This Report

American Bureau of Shipping

Brazilian National Oil, Natural Gas and Biofuels Agency

DECC – Department of Energy & Climate Change (UK)

EIA – Energy Information Administration

European Union

Massachusetts Institute of Technology (MIT)

Norwegian Ministry of Petroleum and Energy

IMO – International Maritime Organisation

OPEC – Organisation of Petroleum Exporting Countries

Royal Navy

Transparency International

United Nations (UN)

US Government’s Bureau of Safety and Environmental Enforcement (BSEE)

World Bank

World Economic Forum

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Remotely Operated Vehicles (ROVs) in the Energy Industry 2014-2024

5.5.3 Major African Subsea Hardware Installation and Offshore Drilling

Projects ROV deployment in drilling support and subsea hardware activity offshore Africa will be the major

component of ROV operations spending going forward. The depth, complexity and infancy of the

market ensure the need for advanced ROVs with high dayrates. Tables 5.20 list the major subsea

projects currently under development offshore Africa.

Project Majority Partner Country Status

CLOV Total S.A. Angola First production 2014

PSVM BP Angola Full commercial production

from all four fields by 2014-

2015

Gazelle Rialto Energy Ltd. Cote d'Ivoire First production 2016-2017

Aje YPF Nigeria First production 2014

Akepo Sogenal Ltd. Nigeria First production 2013

Egina Total Nigeria Commercial scale production

2014-2015

5.5.4 Challenges To The Development of an East African Offshore

Industry East Africa represents the largest opportunity for ROV service providers going forward, with vast

gas reserves discovered off the coast of Mozambique and Tanzania. However, the same problems

encountered in the development of an offshore industry in West Africa will also befall East Africa.

East African governments have little experience and regulation relating to oil gas investment,

making investments prone to abuse or mismanagement, especially if they occur rapidly and on a

large scale. To turn the investment in any LNG terminals into effective long-term economic growth,

while delivering on-time development of such projects, will be a hard task for East African

governments. The inflow and absorption of such large investments will be a real challenge for

Table 5.20 Major African Subsea Hardware Installation and Offshore Drilling Projects excluding UK & Norway (Project, Majority Partner, Country, Status)

Source: Visiongain 2013

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5.7 Market Forecast for ROVs in the Energy Industry of the Rest of the

World 2014-2024 Table 5.28 and Figures 5.28 and 5.29 display visiongain’s forecast for CAPEX on the

operations/services of ROVs for the Rest of the World over the next 10 years. The Rest of the

World is comprised of activity in the Middle East, South Asia (Indian Ocean around India), the

Arctic and in Russia and Central Asia. Market Definition Note: The ROV market of the Rest of the

World is composed of CAPEX on ROV operations only.

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2014-2024

CAPEX ($m) 94.3 99.3 142.9 178.0 196.9 154.4 119.6 278.2 312.8 230.1 335.2 379.8 2,427.1

AGR (%) 5.3 43.9 24.6 10.6 -21.6 -22.5 132.6 12.4 -26.4 45.6 13.3

2019-24 26.0

14.4

3.8CAGR (%) 2014-19

CAGR (%) 2014-24

-40%

-20%

0%

20%

40%

60%

80%

100%

120%

140%

160%

0

50

100

150

200

250

300

350

400

2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024

AGR

CAPE

X ($

m)

Year


Table 5.28 Rest of the World ROV Market 2014-2024 ($m, AGR %, CAGR%)


Figure 5.28 Rest of the World ROV Market Forecast 2014-2024 ($m, AGR%)

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8. Expert Opinion 8.1 Saab Seaeye

James Douglas has worked in or around the marine industry his entire life. Prior to joining Saab

Seaeye in January 2007 as a Sales Manager he worked for Raymarine. He has over 15 years

experience with Marine Electronics and marketing such electronics to markets all over the world.

His primary responsibility at Seaeye is for ROV system sales at home and internationally, as well

as the management of the sales department.

Visiongain interviewed Mr. Douglas in November of 2013 and would like to thank him for the

insightful and interesting comments.

Saab Seaeye Limited is a wholly owned subsidiary of Saab Underwater Systems AB. The

company was formed in 1986 by Ian and Janet Blamire to specialise in the manufacture of

electrically powered ROVs for the offshore oil and gas industry. It operates in the middle part of

the ROV market, manufacturing the full suite of ROVs excluding handheld observation and very

large hydraulic vehicles. It is based in Fareham, Hampshire, and also manufactures the ROVs from

this site. It has sold over 750 ROVs to a range of companies and industries since its inception in

1986.

8.1.1 Saab Seaeye in the ROV Market

Visiongain: Describe the work of Saab Seaeye and your role within the ROV market?

James Douglas: We supply electric ROVs to the middle segment of the ROV market, from the

observation up to the work class vehicles. We don’t make the larger hydraulic vehicles and we do

not supply the very small ROVs (the hand carried ones).

We aim to provide the best possible service that we can to our customers. We run a 24/7

telephone helpline manned by very experienced staff. We have people that can at very short

notice fly around the world to support our systems. We also run training programmes for the

systems and keep a large amount of spares in stock in order to support clients worldwide. Some

spares are kept in various strategic places around the world to help support the local customers.

In short, we like to think we are a very customer focussed and customer orientated company.

www.visiongain.com


9.1 New Build ROV Manufacturers

These companies only manufacture ROVs, perform maintenance on ROVs and/or supply

manipulators/tooling for ROVs.

9.1.1 Forum Energy Technologies

Forum Energy Technologies (FET) was established in 2010 in a merger between Forum Oilfield

Technologies, Triton Group (Perry-Slingsby and Sub-Atlantic brands), Subsea Services

International, Global Flow Technologies and Allied Technology. The company has offices in

Houston, Singapore and since 2012 in Beijing, Brazil, and Australia.

Total company revenue $m 1,414

Submarket ROV New Builds

Headquarters Houston, TX, USA

Ticker NYSE: FET

Website http://www.f-e-t.com

Model Type Depth Rating

(metre)

Payload

(kg)

Power (hp) Manipulators

Mojave Inspection max.300 12 6 0

Mohawk Inspection max.1000 35 9 optional

Mohican Inspection max.3000 35 17 optional

Super

Mohawk

Inspection & Light

Work Class

max.3000 85 17 2

Tomahawk Survey & Light

Work Class

max.3000 175 47 2

Table 9.2 Forum Energy Technologies (FET) Overview (Total Revenue (2012), Submarket, HQ, Website)

Table 9.3 Forum Energy Technologies Product Overview


remotely operated vehicles (rov) in the energy industry 2014 2024

Business

soil machine dynamics

remotely operated vehicles

autonomous underwater vehicles

work class ratio

east african governments

light work class

offshore drilling projects

work class rovs