The figures from by MEED, a Dubai-based business intelligence and analytics specialist, are highlighted in new a Seatrade Maritime report titled ‘Middle East Offshore Market on the Move’, which is available for free download to readers.
The report further points out that multibillion relevant projects in the region is expecting to inject new energy into the sector. According to MEED ongoing oil, gas, and petrochemical projects, which have a combined value of $211bn, and these projects are on top of other initiatives valued at $242bn that are now at various pre-execution stages.
“While some of these projects focus on onshore investment, they will still directly or indirectly impact workboat operators. Large corporations behind these major initiatives, along with offshore oil developments, will require a wide range of vessel types for the timely completion of their projects,” says the report’s author Paul Bartlett, director, PB Marine Consulting, and Seatrade Maritime News correspondent.
“These include platform support vessels, anchor handlers, cable- and pipe-layers, trenching units, inspection, maintenance and repair (IMR) ships, subsea construction vessels, and survey ships, among others.”
The report is released ahead of the Seatrade Offshore Marine and Workboats 2019, which will take place from September 23 to 24, 2019 in Madinat Jumeirah in Dubai. The leading conference and trade show for the global offshore marine and workboat industries will gather and connect a powerful network of influencers, leaders, and innovators to discuss industry opportunities and challenges as well as the latest trends and developments.