Westwood Global Energy Group

✨ Speaker Spotlight - Paul Ezekiel Join Paul and the Singapore team for Westwood’s annual APAC Offshore Energy Services event on Thursday 21st November! See our full agenda and register here: https://bit.ly/3YTi6Zk #westwoodevents #offshore #marine #energy #rigs #offshorewind

In view of attractive #oilprices, an uptick in E&P investments and robust #drilling activities, the active offshore support #vessel fleet increased by 22 vessels over the past 12 months and pushed effective utilisation to 75%. However, future #utilisation remains contingent on fleet rejuvenation. Westwood's CHEN WEI 陈炜 examines drivers of #OSV demand, vessel movements, #fleet utilisation and owner response to ageing fleets in this latest insight: https://lnkd.in/et6kDG-t Featured data is derived from Global Offshore Navigator, joint authored by leading experts from Braemar and Westwood. #westwoodinsight #marketintelligence

Join Westwood at OSEA's first ever Executive Networking session. Thom Payne and David Linden are presenting on Tuesday 19th November, 10.30am-12.30pm. Looking at: • Offshore Energies in an evolving Marco Energy Landscape • Offshore Wind: Overcoming challenges for the next phase of growth Find full details and register here: https://lnkd.in/gZzVrpqm #OSEA2024 #singapore

October proved to be a challenging month as #developers continued to vocalise their concerns, several major projects were cancelled, and ambitions were scaled back. Developers are struggling to create viable business cases, with costs escalating and offtakers withdrawing from projects. While setbacks are currently more prevalent, government support is still providing hope for the sector’s potential. This month, we explore some of these key challenges and examine the measures in place to ensure continued progress. Read our November Hydrogen Compass by Jun Sasamura here: https://lnkd.in/dnrXznkp #hydrogen #marketintelligence

At the end of October 2024, subsea tree unit awards recorded year-to-date closed at 182 units, representing a 34% YoY decline, as supply chain inflationary pressures continue to impact the FID timeline for several projects. The Americas accounts for 64% of units awarded, whilst sanctioning activity in Western Europe has supported 21% of subsea tree order intake in 2024. An additional 85 subsea tree unit awards are anticipated for the remainder of 2024, 38 of these classified as “Pre-Order”, underpinned by TotalEnergies’ GranMorgu Block 58 development offshore Suriname and the Northern Endurance Partnership CCS project in the UK Southern North Sea. See our full monthly Subsea Tree Tracker here: https://lnkd.in/dV9vm-A Mark Adeosun

✨ Speaker Spotlight - Thom Payne Setting the scene for the afternoon with a look into the oil market outlook and expectations for 2025, E&P spending levels before looking at the key theme of industry cost escalation. See our full agenda and register here for our annual APAC Offshore Energy Services event: https://bit.ly/3YTi6Zk #westwoodevents #offshore #marine #energy #rigs #offshorewind

Next week, Alyson Harding will be presenting at the GeoPublishing Events NCS Exploration Strategy. Alyson will be presenting on day 1 during session 1, discussing ‘Norway – State of Exploration’. Register here: https://lnkd.in/ediF6nPp #ncsstrategy #exploration

Westwood is pleased to announce the release of its Wells & Production Outlook 2025-2031. Request more information here: https://lnkd.in/eUWxPiZJ The latest edition, forecasts an average of 53,000 wells to be drilled annually over the 2025-2031 period, representing an increase of 7% on the 2018-2024 annual average. Key global themes supporting this include a push from importers such as China, India and Turkey to increase domestic production, while increased gas production for LNG exports will drive drilling activity in countries such as Qatar and the US. Ben Wilby #marketintelligence #wells #production #drilling

✨ Speaker Spotlight - David Linden and Michelle Gomez Join David and Michelle for our Offshore Wind and Energy Transition panel session at Westwood’s annual APAC Offshore Energy Services event on Thursday 21st November! Joining this year's panel: David Chiang, WORLD FORUM OFFSHORE WIND (WFO) Will Liu, BlueFloat Energy Robert Shapcott, Fugro See our full agenda and register here: https://bit.ly/3YTi6Zk #westwoodevents #offshore #marine #energy #rigs #offshorewind

There is only ONE WEEK left to nominate for the Offshore Support Journal 2025 Awards! #OSJ2025Awards   Don’t miss your chance to highlight those who have made a significant impact on our industry.   NOMINATE HERE >> https://lnkd.in/d6hr_njP   The awards will be presented during the Gala Dinner at the Annual OSJ Conference, Awards & Exhibition 2025 on 4-5 February in London. Find out more about the event here: https://lnkd.in/dD84mx-c   This event is a unique opportunity to:  🤝 Network with leading figures in the #OSV sector. 💡 Learn about the latest trends and developments advancing the industry. 📈 Increase brand awareness. 🎉 Celebrate excellence in our industry. #RivieraMaritimeMedia #OSJ #OSVs #offshoresupportvessels #offshore #energy #oilandgas #offshorewind #energytransition #decarbonisation #financing #greenfuels #vessels