{"id":14843,"date":"2021-12-31T16:22:16","date_gmt":"2021-12-31T16:22:16","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=14843"},"modified":"2025-04-16T15:11:26","modified_gmt":"2025-04-16T14:11:26","slug":"global-subsea-tree-tracker-2021","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2021","title":{"rendered":"Global Subsea Tree Tracker 2021"},"content":{"rendered":"[vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h2><strong>Westwood&#8217;s Global Subsea Tree Tracker 2021<\/strong><\/h2>\n<h4>Each month Westwood&#8217;s subsea team provides a global update on subsea tree awards, with data sourced from and analysed using, <a href=\"https:\/\/www.westwoodenergy.com\/subsealogix\"><strong>SubseaLogix<\/strong><\/a>. Bookmark this page for regular updates on the health of the subsea oil and gas sector.<\/h4>\n[\/vc_column_text][divider line_type=&#8221;No Line&#8221; custom_height=&#8221;20&#8243;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/4&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][nectar_btn size=&#8221;large&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;View 2024 Data&#8221; url=&#8221;https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2024&#8243; margin_top=&#8221;10&#8243; margin_bottom=&#8221;10&#8243; margin_left=&#8221;10&#8243; margin_right=&#8221;10&#8243;][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/4&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][nectar_btn size=&#8221;large&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;View 2023 Data&#8221; url=&#8221;https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2023&#8243; margin_top=&#8221;10&#8243; margin_bottom=&#8221;10&#8243; margin_left=&#8221;10&#8243; margin_right=&#8221;10&#8243;][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/4&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][nectar_btn size=&#8221;large&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;View 2022 Data&#8221; url=&#8221;https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2022&#8243; margin_top=&#8221;10&#8243; margin_bottom=&#8221;10&#8243; margin_left=&#8221;10&#8243; margin_right=&#8221;10&#8243;][\/vc_column][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/4&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][nectar_btn size=&#8221;large&#8221; button_style=&#8221;regular&#8221; button_color_2=&#8221;Accent-Color&#8221; icon_family=&#8221;none&#8221; text=&#8221;View 2020 Data&#8221; url=&#8221;https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2020&#8243; margin_top=&#8221;10&#8243; margin_bottom=&#8221;10&#8243; margin_left=&#8221;10&#8243; margin_right=&#8221;10&#8243;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][divider line_type=&#8221;No Line&#8221; custom_height=&#8221;20&#8243;][vc_column_text]Westwood\u2019s full-year <strong>2021 subsea tree unit awards<\/strong> closed at approximately 165 units globally, with Petrobras accounting for 32%, the highest amongst field operators during the year under review. 21 subsea tree unit awards announced in 4Q 2021 were driven by Petrobras\u2019 Mero 4 development offshore Brazil and Woodside\u2019s Scarborough project offshore Australia. Major projects to watch in 1Q 2022 include CNOOC\u2019s Lingshui 25-1 (China), TotalEnergies\u2019 North Platte development (USA) and its Lapa South West project (Brazil). Westwood\u2019s full-year <strong>2021-2025 subsea tree demand<\/strong> outlook is forecast at 1,458 units, with a nominal 1% downward revision due to the exclusion of subsea trees associated with Siccar Point Energy\u2019s Cambo development offshore UK, following Shell\u2019s decision not to invest in the field as this time.[\/vc_column_text][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th December, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;12135&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/11\/Subsea-Tree-Tracker-December-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;21.2435%&#8221; top=&#8221;48.7109%&#8221; position=&#8221;bottom&#8221;]Brazil: On 18 November, Aker Solutions announced a contract award from Petrobras to provide a subsea production system and related services for the Mero 4 project. Aker Solutions\u2019 work scope includes the supply of 13 vertical subsea trees, subsea distribution units, subsea control modules and related tie-in equipment.[\/nectar_hotspot][nectar_hotspot left=&#8221;53.94287109375%&#8221; top=&#8221;56.33246739705403%&#8221; position=&#8221;bottom&#8221;]Australia: Woodside announced a final investment decision (FID) on its Scarborough project on 22 November 2021. The confirmed the engineering, procurement, construction &amp; installation (EPCI) contract award to the Subsea Integration Alliance, a joint venture of OneSubsea and Subsea 7, for the supply of eight subsea trees, associated production equipment and SURF. [\/nectar_hotspot][nectar_hotspot left=&#8221;20.3125%&#8221; top=&#8221;43.74131944444444%&#8221; position=&#8221;bottom&#8221;]Guyana: On 15 November, TechnipFMC has announced an award from ExxonMobil for the supply of 51 enhanced vertical deepwater trees (EVDT) and associated tooling, 12 subsea manifolds, associated controls and tie-in equipment for the Yellowtail development. However, TechnipFMC stated that the contract award will not be included in its inbound orders until FID has been taken and government approval received. Given this, Westwood has not included this award in its November 2021 subsea tree award count. [\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">In November 2021, a total of 21 subsea tree units were awarded, driven by Petrobras\u2019 Mero 4 development offshore Brazil and Woodside\u2019s Scarborough project offshore Australia. This brings the 2021 subsea tree unit award count YTD to 176 units, 91% of full-year anticipated units.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Westwood\u2019s 2021 full-year outlook subsea tree order intake is forecast to close at 194 units, a 12% downward revision compared to our full-year estimate as of January 2021. Key contract award announcements still anticipated before the end of 2021 include CNOOC\u2019s Lingshui 25-1, which is currently in the bid clarification process and PetroRio\u2019s Wahoo field offshore Brazil.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full-year, 2021-2025 subsea tree demand outlook is now at 1,458 units, a 1% downward revision compared to last month\u2019s forecast predominantly due to the exclusion of subsea trees associated with Siccar Point Energy\u2019s Cambo development offshore UK, due to Shell\u2019s decision not to invest in the field as this time.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th November, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;12074&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/10\/Subsea-Tree-Tracker-November-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;34.13411617279053%&#8221; top=&#8221;35.099826388888886%&#8221; position=&#8221;bottom&#8221;]Turkey: On the 15th October, Subsea Integration Alliance (SIA), a joint venture of OneSubsea and Subsea 7, announced that they had been awarded an integrated engineering, procurement, construction and installation (iEPCI) contract from Turkish Petroleum (TPAO) for the first phase of the Sakarya subsea development in the Red Sea. The award was first announced on a redacted basis on 29th September. OneSubsea will deliver the subsea production system (SPS) and the subsea umbilical risers and flowlines (SURF), with Subsea 7 covering the installation work scope.[\/nectar_hotspot][nectar_hotspot left=&#8221;31.28662109375%&#8221; top=&#8221;26.749131944444443%&#8221; position=&#8221;bottom&#8221;]Norway: Shell has opted for a spar-based development at its Linnorm field, with the production facility to be connected to three or four subsea wells.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">No subsea tree awards were announced in October 2021. However, Westwood has revised the number of subsea trees recorded for September, consequently increasing year-to-date orders to 138 units from 131 units as a result of the iEPCI contract award for TPAO\u2019s Sakarya subsea production equipment offshore Turkey.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Westwood has revised its 2021 full-year subsea tree award to 189 units from 211 units reported in September. This is due to the anticipated delays to Subsea EPC contract award on major projects such as Siccar Point Energy&#8217;s Cambo field (UK) and LLOG\u2019s Leon-Moccasin development (USA). Major awards still expected before the end of 2021 include CNOOC\u2019s Lingshui 25-1 field (China) and Woodside\u2019s Scarborough development offshore Australia.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full-year, 2021-2025 subsea tree demand outlook is now at 1,476 units, approximately 39% of these are attributed to projects offshore Latin America.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th October, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11986&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/09\/Subsea-Tree-Tracker-October-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;47.49417605099978%&#8221; top=&#8221;33.57290995611918%&#8221; position=&#8221;bottom&#8221;]China: In September, CNOOC launched the tender for the supply of a subsea production system for its Lingshui 25-1 field. The tender includes 12 subsea trees and three subsea manifolds to be tied back to a new wellhead platform YC13-1 PAP to be installed on CNOOC\u2019s Yacheng 13-1 field.[\/nectar_hotspot][nectar_hotspot left=&#8221;21.75572001850688%&#8221; top=&#8221;51.610657663056344%&#8221; position=&#8221;bottom&#8221;]Brazil: PetroRio awarded multiple services contracts for its Wahoo field during the month; however, it has postponed the scheduled contract awards for subsea equipment until October 2021.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">In September, only two subsea tree awards were recorded, closing 3Q 2021 order intake at 22 units, a 52% decrease year-on-year. Westwood has revised the number of subsea trees recorded for July, consequently increasing 2021 year-to-date awards to 131 units from the 121 units reported last month.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Based on reported development plans, subsea tree contract awards in 4Q 2021 are estimated to total 80 units, driven by 14 projects. Of the 80 units anticipated, Westwood has classified 39 units as \u201cFirm\u201d, 27 units as \u201cProbable\u201d and 14 units as \u201cPossible\u201d. Major awards to watch in 4Q 2021 include Shell\u2019s Whale (USA) which is still awaiting a formal subsea tree award announcement after the project was sanctioned back in July 2021, TPAO\u2019s Sakarya (Turkey), CNOOC\u2019s Lingshui 25-1 (China), Woodside\u2019s Scarborough (Australia), and LLOG\u2019s Leon &amp; Moccasin project in the US GoM.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full-year, 2021-2025 subsea tree demand outlook has increased from 1,457 to 1,480 units driven predominantly by ENI&#8217;s planned Baleine fast-track development offshore Ivory Coast and Harbour Energy&#8217;s Tuna project offshore Indonesia.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th September, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11937&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/08\/Subsea-Tree-Tracker-September-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;19.9593%&#8221; top=&#8221;49.2694%&#8221; position=&#8221;bottom&#8221;]Brazil: In August, Enauta confirmed an order for a subsea tree to Schlumberger-owned subsidiary OneSubsea to be used for the fourth well at its Atlanta development.[\/nectar_hotspot][nectar_hotspot left=&#8221;33.90625%&#8221; top=&#8221;59.537039862738716%&#8221; position=&#8221;bottom&#8221;]South Africa: TotalEnergies is said to be considering an early production system (EPS) to fast track the development of its Luiperd gas condensate discovery with the use of two or three subsea trees tied back to a PetroSA-owned FA fixed platform. [\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">In August, subsea tree awards were relatively subdued, with only one unit recorded. We have also revised down our 2021 total order intake to reflect Petrobras\u2019 use of existing callout capacity for its Buzios 6-9 project in lieu of \u201cnew\u201d awards. This downward revision brings 2021 YTD subsea tree orders to 121 units \u2013 versus 138 units last month.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Key upcoming subsea tree awards to watch for the remainder of 3Q 2021 include Shell\u2019s Whale development in the US GoM, after the operator sanctioned the project in July 2021. Other subsea tree awards anticipated in 3Q are TPOA\u2019s Sarkaya development (Turkey) and PetrioRio\u2019s Wahoo development (Brazil). The Subsea tree award for Siccar Point\u2019s Cambo development (UK) is now expected to be delayed beyond 3Q 2021 due to pending approval from the UK government against a backdrop of significant public protest.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full-year, 2021-2025 subsea tree demand outlook remains unchanged at approximately 1,457 units.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th August, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11827&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/07\/Subsea-Tree-Tracker-August-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;26.59912109375%&#8221; top=&#8221;41.07349819607205%&#8221; position=&#8221;bottom&#8221;]Ghana: On the 6th of July, TechnipFMC announced the award of an integrated engineering, procurement, construction and installation (iEPCI) contract for Tullow Oil\u2019s Jubilee South-East project. The contract will see TechnipFMC supply and install all major subsea equipment, including\u00a0trees, manifolds, controls as well as flexible risers, flowlines and umbilicals.[\/nectar_hotspot][nectar_hotspot left=&#8221;33.75%&#8221; top=&#8221;25.5107%&#8221; position=&#8221;bottom&#8221;]Norway: On the 9th of July, Aker Solutions secured a contract from Aker BP to supply the subsea production system for its Kobra East Gekko development, including four horizontal subsea trees, three subsea manifolds, control systems and static umbilicals.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">In July, a total of nine subsea tree units were awarded including Aker BP\u2019s Kobra East Gekko, Okea\u2019s Hasselmus and Tullow Oil\u2019s Jubilee South-East developments. This brings 2021 subsea tree order intake YTD to 138 units, accounting for 61% of total anticipated tree demand for the year.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">The key subsea tree contract award to watch for the remainder of 3Q 2021 is arguably Shell\u2019s Whale (USA) which was sanctioned on the 26th July with the official subsea tree contract award still pending. Other anticipated awards this year include Shell\u2019s Crux (Australia), Repsol\u2019s Tain (UK), Siccar Point\u2019s Cambo (UK) and TPAO\u2019s Sakarya (Turkey). Together, these five projects will account for 37 subsea trees.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full-year 2021-2025 subsea tree demand outlook is now estimated at 1,458 units, just a 1% decrease compared to last month\u2019s forecast. This minor\u00a0downtick is due to the exclusion of subsea trees associated with ENI&#8217;s Mamba phase one development as a result of ongoing security concerns in Mozambique.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th July, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11768&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/06\/Subsea-Tree-Tracker-July-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;19.9593%&#8221; top=&#8221;49.2694%&#8221; position=&#8221;bottom&#8221;]Brazil: Equinor announced a final investment decision (FID) on its Bacalhau field on the 1st of June 2021. This confirms the award of an integrated engineering, procurement, construction &amp; installation (iEPCI) contract to the Subsea Integration Alliance, a joint venture of OneSubsea and Subsea 7, for the supply the 19 subsea trees, associated production equipment and SURF. [\/nectar_hotspot][nectar_hotspot left=&#8221;33.75%&#8221; top=&#8221;25.5107%&#8221; position=&#8221;bottom&#8221;]Norway: Okea sanctioned its Hasselmus gas discovery on the 1st of June 2021. The field will be developed as a single-well subsea tieback to the Draugen platform.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">In June 2021, subsea tree contracts were confirmed for Equinor\u2019s Bacalhau field, Karoon Energy\u2019s Patola development and Petrobras\u2019\u00a0Buzios 6-9\u00a0developments all offshore Brazil. Elsewhere, a subsea tree\u00a0award for Equinor\u2019s Lavrans development offshore Norway was also confirmed. Westwood has now recorded 128 subsea tree orders in the first half of the year, accounting for 56% of total anticipated subsea tree demand in 2021.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Key upcoming subsea tree contract awards to watch in 3Q 2021 include Shell\u2019s Crux (Australia) and Whale\u00a0(USA), Aker BP\u2019s Kobra East Gekko, Repsol\u2019s Tain, Siccar Point\u2019s Cambo (UK) and TPAO\u2019s Sakarya (Turkey). These six projects will account for 41 subsea trees.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our full year 2021-2025, subsea tree demand outlook is now estimated at 1,466 which represents a 4% (49 units) increase compared to last month\u2019s edition. This increment is mainly attributed to previously stalled projects such as Equinor\u2019s Bay du Nord and Shell\u2019s Bonga SWA development being added to the forecast period.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th June, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11695&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/05\/Subsea-Tree-Tracker-June-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;19.9593%&#8221; top=&#8221;49.2694%&#8221; position=&#8221;bottom&#8221;]Brazil: Equinor announced a final investment decision (FID) on its Bacalhau field on the 1st of June 2021. This confirms the award of an integrated engineering, procurement, construction &amp; installation (iEPCI) contract to the Subsea Integration Alliance, a joint venture of OneSubsea and Subsea 7, for the supply the 19 subsea trees, associated production equipment and SURF. [\/nectar_hotspot][nectar_hotspot left=&#8221;33.75%&#8221; top=&#8221;25.5107%&#8221; position=&#8221;bottom&#8221;]Norway: Okea sanctioned its Hasselmus gas discovery on the 1st of June 2021. The field will be developed as a single-well subsea tieback to the Draugen platform.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">No subsea tree awards were announced in May 2021. However, 2Q 2021 subsea tree order intake is still forecast to close at 50 units \u2013 a 194% increase YoY, of which Equinor\u2019s Bacalhau (Brazil) and Okea\u2019s Hasselmus (Norway) account for 40% of 2Q 2021 subsea tree forecast, both of which were confirmed on the 1st of June 2021.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Key projects to watch for the remainder of 2Q 2021 include Shell\u2019s Whale project (USA) and TPAO\u2019s Sakarya development (Turkey), with the latter currently scheduled to start commercial gas production before the end of 2023.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Visible base-case subsea tree demand for the 2021-25 period is forecast at approximately 1,328 units, a decrease of 17 units versus Westwood\u2019s May 2021 subsea tree tracker. This reduction is primarily based on revisions to subsea tree demand for Petrobras\u2019s Marlim Revitalisation Project.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th May, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11537&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/04\/Subsea-Tree-Tracker-May-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;19.9593%&#8221; top=&#8221;49.2694%&#8221; position=&#8221;bottom&#8221;]Brazil: A final investment decision (FID) on Equinor\u2019s Bacalhau field is anticipated in 2Q 2021, having already been delayed in 2020. The Norwegian operator has already issued letters of intent to its chosen contractors for all major work packages associated with the field development with the joint venture of OneSubsea and Subsea 7 awarded the integrated EPCI contract for subsea production systems and SURF, pending FID.\u00a0[\/nectar_hotspot][nectar_hotspot left=&#8221;15.4688%&#8221; top=&#8221;34.3996%&#8221; position=&#8221;bottom&#8221;]USA: Shell\u2019s Whale development in the US GoM is anticipated to be sanctioned in 2Q 2021 after the project was put on hold by the operator in 2020. The field is expected to contribute more than a dozen subsea trees to 2Q 2021 order intake.[\/nectar_hotspot][nectar_hotspot left=&#8221;29.6094%&#8221; top=&#8221;30%&#8221; position=&#8221;bottom&#8221;]UK: In April, Ithaca Energy sanctioned its Captain Enhanced Oil Recovery (EOR) project in Block 13\/22a of the UK Central North Sea. The project will inject polymerised water into the Captain reservoir and requires several additional subsea trees and associated infrastructure.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">2Q 2021 subsea tree order intake is estimated at 82 units, accounting for 32% of total 2021 awards &#8211; currently forecast at 260 units. Key projects to watch in 2Q 2021 include Equinor\u2019s Bacalhau (Brazil), Shell\u2019s Whale (US GoM), and Total\u2019s Lapa South West (Brazil).<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">2021 &#8220;to be awarded&#8221; subsea trees are now forecast at approximately 170 units, a 5% decline versus April&#8217;s outlook. Compared to last month, 2021 subsea tree orders categorised as \u201cFirm\u201d have increased by 31 to 98 units,\u00a0as development plans progress and projects move closer to formal contract award. Units categorised as \u201cProbable\u201d\u00a0now stand at 45 units vs 33 units last month, whilst units in the\u00a0\u201cPossible\u201d category have reduced by 10 to 23 units reflecting increased confidence in our total 2021 order volume.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Visible base-case subsea tree demand for the 2021-25 period is forecast at approximately 1,345 units, no change from Westwood\u2019s April 2021 subsea tree tracker.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th April, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11427&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/03\/Subsea-Tree-Tracker-April-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;30.896811485290527%&#8221; top=&#8221;24.54716682434082%&#8221; position=&#8221;bottom&#8221;]Norway: On the 25th of March, Aker Solutions was awarded the contract to supply the subsea production system for ConocoPhillips\u2019 Eldfisk North field. The contract includes the provision of 13 standardised vertical subsea trees, wellheads, control systems and three six-slot templates with integrated manifolds.[\/nectar_hotspot][nectar_hotspot left=&#8221;52.03124999999999%&#8221; top=&#8221;59.81626404656304%&#8221; position=&#8221;bottom&#8221;]Australia: Santos took a final investment decision (FID) on its Barossa gas field on the 30th of March 2021. EPC contract agreements were in place prior to FID, with TechnipFMC having been awarded the contract to supply the six subsea tree units in May 2019.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">1Q 2020 subsea tree order intake closed at 87 units, including 13 units which were awarded in March 2021 to Aker Solutions under a contract for ConocoPhillips\u2019 Eldfisk North field.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Major contract awards previously anticipated for 1Q 2021 that could drive subsea tree demand in 2Q 2021 include Equinor\u2019s Bacalhau (Brazil) and Ithaca Energy\u2019s Captain EOR (UK). However,\u00a0Repsol Sinopec\u2019s Montrose Infill Program (UK) has been delayed until 2022.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Subsea tree demand outlook for the remainder of 2021 is forecast to total 178 units, of which 67 units (37%) are classified as \u201cFirm\u201d, 78 units (44%) as \u201cProbable\u201d and 33 units (19%) classified as \u201cPossible\u201d based on Westwood\u2019s assessment of subsurface, commercial &amp; geopolitical factors.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Visible base-case subsea tree demand for the 2021-25 period is forecast at approximately 1,345 units. This represents an upward revision of 4% versus last month\u2019s outlook, driven predominantly by Turkish Petroleum\u2019s (TPAO) Sakarya phased development plan.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th March, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11281&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/03\/Subsea-Tree-Tracker-March-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;51.599936485290534%&#8221; top=&#8221;45.658276875813804%&#8221; position=&#8221;bottom&#8221;]Malaysia: On the 22nd of February, TechnipFMC announced a contract awarded from Petronas for the FEED &amp; integrated EPCIC of the subsea production system and SURF for the Limbayong field. The workscope includes 10 subsea trees and associated tie-back infrastructure to the Limbayong FPSO.[\/nectar_hotspot][nectar_hotspot left=&#8221;35.625%&#8221; top=&#8221;35.927374098036026%&#8221; position=&#8221;bottom&#8221;]Israel: On the 23rd of February TechnipFMC confirmed a letter of award (LOA) was issued for the integrated EPCI contract for Energean\u2019s Karish North field.[\/nectar_hotspot][nectar_hotspot left=&#8221;28.5156%&#8221; top=&#8221;26.8056%&#8221; position=&#8221;bottom&#8221;]UK: Tailwind Energy announced a final investment decision on its Evelyn single-well subsea tieback development. Baker Hughes will supply the subsea tree required for the project. [\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our subsea tree outlook for 2021 is c.240 units, of which 73 units have been awarded as of 1st March 2021. Of the remaining 170 units forecast for 2021, 74 units (44%) are classified as \u201cFirm\u201d, 60 units (35%) as \u201cProbable\u201d and 36 units (21%) are classified as \u201cPossible\u201d based on our assessment of subsurface, commercial &amp; geopolitical factors.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Major subsea tree contract awards still anticipated in 1Q 2021 include Equinor\u2019s Bacalhau project (Brazil), Ithaca Energy\u2019s Captain EOR (UK), as well as Repsol Sinopec\u2019s Montrose Infill Program (UK).<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Our base-case subsea tree outlook for the 2021-25 period is forecast at approximately 1,300 units. This represents an upward revision of 6% compared to last month\u2019s outlook driven by Total and Apache\u2019s commitment to commence production from its Block 58 fields offshore Suriname by 2025. A revitalised Angola offshore sector driven by improved fiscal incentives and commercial terms will also contribute to the subsea tree demand outlook.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th February, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11124&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2021\/02\/Subsea-Tree-Tracker-February-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;17.928061187267303%&#8221; top=&#8221;48.29885376824273%&#8221; position=&#8221;right&#8221;]Brazil: Petrobras has awarded the contract to supply subsea trees for Buzios VI, VII &amp; VIII. These units will be linked to the Almirante Tamandare, P-78 and P-79 FPSOs. Other major contract awards still anticipated in 1Q 2021 include 19 subsea tree units for Equinor\u2019s Bacalhau project, as well as three units for PetroRio\u2019s Frade.\u00a0\u00a0\u00a0\u00a0[\/nectar_hotspot][nectar_hotspot left=&#8221;34.21902388334274%&#8221; top=&#8221;35.37447293599447%&#8221; position=&#8221;right&#8221;]Egypt: In January, Energean sanctioned the North El Amriya &#8211; North Idkunea (NEA-NI) tieback project. TechnipFMC was awarded the EPCIC contract for the development including four subsea trees and the associated SURF equipment.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Westwood has revised its total 2020 subsea tree order intake from 153 to 170 units after official confirmation that contracts for Petrobras\u2019 Mero III and ENI\u2019s Agogo early production system had been awarded to OneSubsea and Baker Hughes respectively.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Subsea tree order intake in 2021 has got off to a fast start, with January awards totalling 69 units. This is driven by the award of Petrobras\u2019 Buzios development, Santos\u2019 Bayu Undan Phase IIIc, Energean\u2019s Karish North, as well as the North El Amriya fields, amongst others.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Visible base-case subsea tree demand over the 2021-25 period is now forecast at\u00a0 1,224 units (excluding units already ordered this year), averaging approximately 260 units a year. Petrobras is forecast to account for approximately 20% of global tree demand over the forecast period.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221;][vc_column column_padding=&#8221;no-extra-padding&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text]\n<h4>Updated &#8211; 4th January, 2021<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;11013&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2020\/12\/Subsea-Tree-Tracker-January-2021.jpg&#8221; color_1=&#8221;Extra-Color-1&#8243; hotspot_icon=&#8221;plus_sign&#8221; tooltip=&#8221;hover&#8221; tooltip_shadow=&#8221;large_depth&#8221; animation=&#8221;true&#8221;][nectar_hotspot left=&#8221;28.631593883037564%&#8221; top=&#8221;26.633631388346352%&#8221; position=&#8221;right&#8221;]UK: In December, Chrysaor sanctioned the infill drilling program on the Everest East field offshore UK. The\u00a0subsea development well will tie-in to an existing manifold and is due to be drilled in 3Q 2021.[\/nectar_hotspot][nectar_hotspot left=&#8221;30.469429194927216%&#8221; top=&#8221;21.902728610568577%&#8221; position=&#8221;right&#8221;]Norway: On 17th December, Aker Solutions was awarded the contract to supply one subsea tree for Equinor\u2019s Northern Lights CO2 storage project. AkerBP also took a final investment decision on the Grasel subsea development. Formal contract announcement for the two subsea trees required for the project is currently pending.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text]\n<ul>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Two subsea tree units contract awards were recorded in December 2020. This brings 2020 total subsea tree orders to close at 153 units, a 33% decline year-on-year.<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Westwood\u2019s current subsea tree demand outlook for 2021 is forecast to total up to 224 units, based on $50\/bbl Brent. Of these, 137 units (61%) are classified as \u201cFirm\u201d, 51 units (23%) as \u201cProbable\u201d, and 32 units (16%) classified as \u201cPossible\u201d based on our assessment of subsurface, commercial &amp; geopolitical factors. Major projects to watch in 1Q 2021 includes Equinor\u2019s Bacalhau (Brazil), Petrobras\u2019 Buzios 5 (Brazil) and Ithaca Energy\u2019s Captain EOR project (UK).<\/li>\n<li data-ccp-props=\"{&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559683&quot;:0,&quot;335559685&quot;:0,&quot;335559731&quot;:0,&quot;335559737&quot;:0,&quot;335562764&quot;:2,&quot;335562765&quot;:1,&quot;335562766&quot;:4,&quot;335562767&quot;:0,&quot;335562768&quot;:4,&quot;335562769&quot;:0}\">Visible base-case subsea tree demand for the 2021-25 period is forecast at 1,290 units, averaging approximately 260 units a year. 43% of projected demand is in Latin America where major projects in Brazil\u2019s pre-salt basin and in the Stabroek block offshore Guyana are expected to dominate subsea tree demand in the forecast period.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nLead Analyst, Subsea<br \/>\n<a href=\"http:\/\/Mark Adeosun\">madeosun@westwoodenergy.com<\/a>[\/vc_column_text][divider line_type=&#8221;Full Width Line&#8221; line_thickness=&#8221;1&#8243; divider_color=&#8221;default&#8221;][\/vc_column][\/vc_row][vc_row type=&#8221;in_container&#8221; full_screen_row_position=&#8221;middle&#8221; column_margin=&#8221;default&#8221; column_direction=&#8221;default&#8221; column_direction_tablet=&#8221;default&#8221; column_direction_phone=&#8221;default&#8221; bg_color=&#8221;#6eb8fc&#8221; scene_position=&#8221;center&#8221; text_color=&#8221;dark&#8221; text_align=&#8221;left&#8221; row_border_radius=&#8221;none&#8221; row_border_radius_applies=&#8221;bg&#8221; overflow=&#8221;visible&#8221; overlay_strength=&#8221;0.3&#8243; gradient_direction=&#8221;left_to_right&#8221; shape_divider_position=&#8221;bottom&#8221; bg_image_animation=&#8221;none&#8221; gradient_type=&#8221;default&#8221; shape_type=&#8221;&#8221;][vc_column column_padding=&#8221;padding-3-percent&#8221; column_padding_tablet=&#8221;inherit&#8221; column_padding_phone=&#8221;inherit&#8221; column_padding_position=&#8221;all&#8221; column_element_direction_desktop=&#8221;default&#8221; column_element_spacing=&#8221;default&#8221; desktop_text_alignment=&#8221;default&#8221; tablet_text_alignment=&#8221;default&#8221; phone_text_alignment=&#8221;default&#8221; background_color_opacity=&#8221;1&#8243; background_hover_color_opacity=&#8221;1&#8243; column_backdrop_filter=&#8221;none&#8221; column_shadow=&#8221;none&#8221; column_border_radius=&#8221;none&#8221; column_link_target=&#8221;_self&#8221; column_position=&#8221;default&#8221; gradient_direction=&#8221;left_to_right&#8221; overlay_strength=&#8221;0.3&#8243; width=&#8221;1\/1&#8243; tablet_width_inherit=&#8221;default&#8221; animation_type=&#8221;default&#8221; bg_image_animation=&#8221;none&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221; column_padding_type=&#8221;default&#8221; gradient_type=&#8221;default&#8221;][nectar_animated_title heading_tag=&#8221;h6&#8243; style=&#8221;color-strip-reveal&#8221; color=&#8221;Accent-Color&#8221; text=&#8221;Get in touch for more information on our SubseaLogix Platform&#8221;][vc_raw_html css=&#8221;&#8221;]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[\/vc_raw_html][\/vc_column][\/vc_row]\n","protected":false},"excerpt":{"rendered":"<p>Each month Westwood&#8217;s subsea team provides a global update on subsea tree awards, with data sourced from and analysed using, SubseaLogix.<\/p>\n","protected":false},"author":5,"featured_media":17471,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[353,39,663,48,445,349,335,334,340,331,336],"tags":[],"class_list":{"0":"post-14843","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all_articles","8":"category-infographics","9":"category-mark-adeosun","10":"category-news","11":"category-offshore-energy-services","12":"category-oilfield-services","13":"category-sectors","14":"category-solutions","15":"category-subsea","16":"category-subsealogix","17":"category-subsectors"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - 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