“Regionally, the offshore sector is experiencing a rapid development in the number and complexity of rigs and multipurpose OSVs, together with the expansion in scope and application of dynamic positioning systems, “said Richardson. “The operating OSV fleet in the Middle East has more than doubled since 2001, and a much stronger market is evolving in the region.”
Globally, current newbuild activity in Mobile Offshore Drilling Units (MODU) is bringing high specification units into the worldwide fleet, Richard added, while much of the existing drilling fleet was jack-ups built in the 1970s and 1980s that require “significant upgrades or modifications’ for drilling today, meaning some are being converted for use as accommodation units or site specific production units, a trend he said ABS thinks will continue.
As regards OSVs, an important role for them today is inspection, repair and maintenance of the world’s 4,000 subsea wells, he continued, thanks to improved well-intervention and IRM technologies which allow them to carry out functions that used to be performed only by rigs or drillships.
Meanwhile, deepwater E&P has introduced the need for larger, self-sustaining OSVs capable of accommodating large work crews and equipment. Vessels also stay on station in elevated sea states for extended periods of time, requiring reliable dynamic positioning systems, larger powerplants and more integrated computer systems, Richardson added.
Finally the ABS evp commented on increased interest in the potential of LNG as a fuel for offshore vessels, leading him to predict that more newbuild OSVs will be built for dual fuel use, and some for use of straight LNG. “Today, there are projects at the design stage that look increasing likely to make it off the drawing board,” he said.
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