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wells. While E&A wells account for the largest proportion of ROV drilling sup- port (69% in 2013), subsea DV wells are expected to experience higher growth during the 2013 to 2017 period, increas-ing at a CAGR of nearly 10%. Construction Support Subsea construction activities that re- quire ROVs include the installation of subsea trees, umbilicals and ß owlines, TMFJ (templates, manifolds, ß owlines and jumpers), subsea processing, FPSO mooring and risers, and trunk-line in-stallation. Expenditure on construction support is set to grow substantially, with an increase of $166m forecast by DW between 2013 and 2017. Africa will be the largest regional market with construction support spend expected to grow at a CAGR of 20%. In 2013 TMFJ will account for the highest proportion of total ROV construction support de- mand at 62%, and umbilicals and ß ow- lines at 18%. Repair and Maintenance The demand for ROVs to be used for R&M activities is driven by the ever increasing volume of installed subsea hardware. However, R&M only ac- counts for a very small proportion of the total ROV market (4% in Ô13 and Ô17). Regional Analysis ¥ AfricaAfrica will remain the largest market between 2013 and 2017, with total Ca-pex forecast at $2.4B during this period. Angola and Nigeria in West Africa are signiÞ cant deepwater locations, forming part of the so-called ÔGolden TriangleÕ of deepwater oil & gas. The discovery of new deepwater provinces offshore East Africa will further drive the demand for ROV operations in this region. ¥ Latin AmericaLatin America is forecast to be the sec- ond largest market with a total spend of $1.9bn during the Þ ve-year forecast period, predominately due to the large number of discoveries and develop- ments offshore Brazil, where deepwa- ter reserves are increasingly being de- veloped and the region is also moving towards developing its ultra deepwater (>2,000m) pre-salt reserves. For these reasons, expenditure in Latin America is forecast to grow the fastest rate of all the regional markets at a CAGR of near 16%.¥ AsiaAsia is expected to be the third largest www.seadiscovery.com Marine Technology Reporter 31MTR #9 (18-33).indd 31MTR #9 (18-33).indd 3112/13/2013 12:53:55 PM12/13/2013 12:53:55 PM
