oil gas services subsea outlook, page-5

I was only half joking about the supply of trees in themselves, as tree frame and manifold fabrication is only a portion of the entire oil and gas subsea services game.

However in the context of the report, if THAT many trees are being ordered around the world this year, not only does someone have to design, engineer and supply them, but more importantly, someone ALSO has to offer and supply the many, many other additional survey, piping, design, diving, ROV, IRM and other associated subsea engineering services to actually get current projects drilled and/or producing! Not to mention the related FPSO modification projects which are suitable as stand alone Nepsys works too. (BTW, I wonder how they got on with the FPSO work scheduled for this month?)

Whether the oil price goes up to $200/b or down to $60/b from here, it barely matters for Neptune, because with the number of projects already on board for go ahead internationally, it is near guaranteed that demand for subsea service and solutions will remain stretched for years to come yet.

Cost estimates for tree frame and manifold supply in itself? Depends on all sorts of things ... For our sakes, hopefully Neptune can get away with "embarrassingly high" either way. Additionally, now that Neptune owns Ross Deeptech's technology, local Australian/SE Asian/US fabrication of the Ross Deeptech designs are (basically) only an email of drawings away ie: reducing significant transport costs.


http://www.rossdeeptech.co.uk/symons/subsea.htm