The business outlook for Swiber continues to solidify as the world’s energy system is at a crossroads with its dual aim of securing the supply of reliable and affordable energy and implementing more renewable energy technology. This is indeed an opportune time for Swiber as it has, over the years, established itself as an eminent service provider to the offshore industry.

An impeccable track record, an extensive and growing fleet of sophisticated offshore vessels, diverse pool of experienced human talent, and an over-achieving corporate commitment to Health, Saftey and Environment ensures Swiber’s readiness to expand into the deepwater sector and to support offshore wind energy requirements.

 
 

Swiber is well-positioned to benefit from the following trends in the oil and gas industry as well as the energy revolution set to take place in the next 30 years:

  • World energy demand in general is expected to grow by 1.6% per year on average – with China and India as the main drivers, accounting for more than half of the incremental energy demand to 2030 and the Middle East emerging as a major new demand center.

  • Massive investment of more than US$26-trillion will be needed over the next 20 years to ensure the world has enough energy; of this the power sector accounts for 52% of the total, with most of the rest for oil and gas.

  • Global offshore oil and gas production and spending is set to grow from US$245b to US$361b (2007-2012) with deepwater accounting for much of this growth; offshore drilling spend will grow 20% in the next five years.

  • Deepwater capex will double from the previous five years, particularly in the Golden Triangle and South East Asia while floating production is forecasted to spend US$34b with deepwater regions accounting for 64% of capital expenditure.

  • The subsea market will post a 25% growth in five years, reaching about US$41b.

  • Aging offshore infrastructure with its increasing maintenance, major modifications will raise the decommissioning demand.

  • Offshore wind power is forecasted to spend US$16b and annual expenditure will increase ten-fold in five years, from USS572m to US$5.25b.

 

 
   
 
     
     
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