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Subsea Trees: 12.1% Growth
A recent report into global subsea tree awards, published by Quest Offshore, forecasts 12.1% compound annual growth rate (CAGR) over the next five years. This compares with a CAGR of 3.6% experienced in the previous five year period. Quest analysts said that growth prospects are sound for meaningful subsea orders during 2009/10, buoyed by notable projects offshore Brazil and Africa. The report also acknowledges that awards maybe tempered in 2009 by the potential slow down of final investment decisions (FID) on certain world class projects. This as oil companies actively look, and possibly wait, for cost reductions and concessions from all aspects of the global supply chain. West Africa is identified as a bright spot for future subsea activity, following on from ongoing projects by the major operators.
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Corrections
The article written by Maggie Merrill about ocean renewable energy in New England in the November/December 2008 issue of MTR had the wrong photo. The corrections are as follows.
Congressman James McGovern expressed his desire to work with the Massachusetts Congressional Delegation early next year to promote the growth of the ocean energy industry in the Commonwealth and throughout the region.
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MTR JOBS listings are updated weekly and help match employers with qualified employees. Post a position or keep abreast of new employment opportunities at www.seadiscovery.com/mt/mtJob.aspx
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Marine Renewable Energy Center Director, John Miller explains the potential for ocean energy in New England is untapped. There are several systems that can be deployed to test technologies and site characteristics.
Re: January 2009 Cover
With regard to the front cover of Marine Technology Reporter. The picture on the cover shows what is referred to as a ball tool in the Van Gogh Heavy lift article. The tools is actually designed and assembled by our company BALLTEC http://www.balltec.com It was a pleasant surprise to see our tool on the cover of the magazine even if our company was not mentioned. For future reference, the tool was proof load tested to 874mT and has a SWL of 700mT Our company specializes in Ball and taper tools for the offshore industry. We also produce Subsea mooring connectors, Pipeline recovery tools, abandonment and recovery tools, and moving into the pile handling market. Regards, James Neels, Balltec Ltd, Email :Jneels@balltec.com
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8 MTR
April 2009
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