The global offshore upstream supply chain saw signs of recovery in 2018, and this looks set to continue in 2019, according to global natural resources consultancy Wood Mackenzie.
As project FIDs increase, demand for equipment and services are buoying the prospects for the upstream supply chain, WoodMac said.
But the downturn left its mark on the sector. Projects remain leaner and phased, and cost discipline remains high on the agenda. The supply chain continues to focus on compact, modular and standard solutions as operators seek the shortest cycle times.
But can this be maintained as the market improves?