OFFSHORE MARKET REPORT
Offshore Sector Giving Boost To
World Shipbuilders
by
James R. McCaul, President
International Maritime Associates, Inc
Offshore exploration and well appraisal
(E&A) activity is projected to increase almost
10 percent over the second half of this decade.
Even more significant, spending for offshore
E&A is projected to grow more than 20 percent
during this period. Driving interest in the off-
shore sector are: (1) improved techniques for
finding and quantifying new reservoirs and;
(2) new techniques for producing deepwater
and marginal fields. A result has been a resur-
gence of demand for offshore rigs and increas-
ing interest in floating production equipment.
Offshore rig demand
Increased utilization and higher day rates for
semisubmersibles and other mobile drilling
equipment has resulted from the pick up in off-
shore development. Mobile drilling equipment
has reached the highest utilization level since
January 1985. Semisubmersibles working off-
shore Europe are realizing a 91 percent uti-
lization level — and mobile drilling rigs off-
shore West Africa are achieving almost 95 per-
cent utilization. Rates now being achieved by
fourth generation semisubmersibles are
exceeding $130,000 per day — compared to
$60,000 to 75,000 per day in mid-1995 and
$50,000 to 55,000 per day in mid-1994.
Drillships are getting rates more than 50 per-
cent higher than a year ago.
The increase in day rates for rigs and drill
ships has begun to generate demand for new or
upgraded equipment. There is no shortage of
activity. Here are a few examples of reported
rig and drillship construction or upgrading
projects.
• Sonat Offshore has announced plans to up-
Orders Placed for New Semisubmersibles
and Drillships
40
30
£ 20
10
Drill ships
Semisubmersibles
N J*
High Velocity
Pressure/
Vacuum Relief
Valves
Ian-Conrad Bergan, Inc.
Gulf Breeze, Florida, USA
Phone +1-904-932-9388
FAX +1-904-932-0504
SEE US AT SNAME, NEW YORK • OCT. 2-4 • EXHIBIT #515
Circle 223 on Reader Service Card
September, 1996
Houma Fabricators
Shipbuilding - Design - Repair
1100 Oak Street Houma, LA 70363
(504) 879-3346 Fax (504) 876-6343
A Division of LOR, Inc.
Helping
Shipyards
Put The
Pieces
Together.
Gu Fuido Perla & Associates has been
helping shipyards meet their construction
engineering requirements since 1979. A
full service naval architecture, marine
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firm, GPA has pioneered the use of com-
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um-sized shipyard (over 20,000 tons of
steel lofted). Detailed engineering and liai-
son support all levels of production.
Complete turnkey engineering services
Full structural design from scantlings
to fairing to numerically controlled lofting
Detailed mechanical and electrical
designs and integration supporting
material procurement and production
personnel
Composite drawings for interference
control and production planning
Regulatory and classification society
support
Support of compressed construction
schedules
A
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GUIDO PERLA
& ASSOCIATES
Naval Architects, Marine, Mechanical, and Electrical Engineers
The Pacific Building
720 Third Avenue, Suite 1200. Seattle. WA 98104
Tel: 1206) 382-3949. Fax: (206) 382-2090
Circle 273 on Reader Service Card
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