{"id":9958,"date":"2025-04-06T08:00:35","date_gmt":"2025-04-06T07:00:35","guid":{"rendered":"https:\/\/www.westwoodenergy.com\/?p=9958"},"modified":"2025-04-16T15:08:17","modified_gmt":"2025-04-16T14:08:17","slug":"global-subsea-tree-tracker","status":"publish","type":"post","link":"https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker","title":{"rendered":"Global Subsea Tree Tracker"},"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<\/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;10&#8243;][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; margin_top=&#8221;10&#8243; margin_bottom=&#8221;10&#8243; margin_left=&#8221;10&#8243; margin_right=&#8221;10&#8243; url=&#8221;https:\/\/www.westwoodenergy.com\/news\/infographics\/global-subsea-tree-tracker-2024&#8243;][divider line_type=&#8221;No Line&#8221; custom_height=&#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;fade-in&#8221; border_type=&#8221;simple&#8221; column_border_width=&#8221;none&#8221; column_border_style=&#8221;solid&#8221;][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<h4>Updated &#8211; 6th April, 2025<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;17536&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2025\/03\/Subsea-Tree-Tracker-April-2025.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;31.2785%&#8221; top=&#8221;15.4357%&#8221; position=&#8221;bottom&#8221;]Norway: Equinor and its project partners announced a final investment decision (FID) for the second phase of its Northern Lights Carbon Storage (CS) project. The total project investment for phase II is estimated at US$711 million and will require at least two subsea trees for the necessary injection wells. [\/nectar_hotspot][nectar_hotspot left=&#8221;17.7253%&#8221; top=&#8221;39.0673%&#8221; position=&#8221;bottom&#8221;]Trinidad &amp; Tobago: BP announced that a final investment decision (FID) was made for its Ginger gas field. The field will utilise four development wells, tied back to the Mahogany B fixed platform. First gas is scheduled for 2027.[\/nectar_hotspot][nectar_hotspot left=&#8221;20.7737%&#8221; top=&#8221;49.4876%&#8221; position=&#8221;bottom&#8221;]Brazil: Following Shell\u2019s announcement that it has taken a final investment decision (FID) on its Gato do Mato field in the Santos Basin, TechnipFMC announced it was awarded the subsea integrated engineering, procurement, construction and installation (iEPCI) work scope for the field.[\/nectar_hotspot][nectar_hotspot left=&#8221;34.0624%&#8221; top=&#8221;15.5503%&#8221; position=&#8221;bottom&#8221;]Norway: TechnipFMC was awarded the subsea integrated engineering, procurement, construction and installation (iEPCI) work scope for Equinor\u2019s Johan Sverdrup Phase III development in the Norwegian North Sea.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<ul>\n<li>Subsea tree unit award recorded in 1Q 2025 closed at 32 units, a 65% decline QoQ, as macro headwinds and supply chain inflationary pressures continue to weigh on project sanctioning and contract award timeline. TechnipFMC dominated announced awards during the period under review, with integrated engineering, procurement, construction and installation (iEPCI) award for Shell\u2019s Gat do Mato offshore Brazil and Equinor\u2019s Johan Sverdrup Phase III development in the Norwegian North Sea.<\/li>\n<li>Key subsea tree contract awards to watch in 2Q 2025 include ExxonMobil\u2019s Hammerhead development offshore Guyana, with LNTP already issued to key contractors, Eni\u2019s Coral Norte (Mozambique), Equinor\u2019s Fram Sor and the Heidrun expansion project (Norway)<\/li>\n<li>Our visible base-case demand outlook for subsea tree units from 2025 to 2029 is estimated at 1,400 units, averaging 280 units per year. Tree demand will be driven by activities offshore Brazil, Guyana and Norway, whilst CNOOC\u2019s ambition to develop its Baodao 12-1 and future expansion at its Lingshui and Liuhua fields could support demand in the latter years of the forecast.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nDirector, SubseaLogix<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 css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<h4>Updated &#8211; 6th March, 2025<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;17535&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2025\/02\/Subsea-Tree-Tracker-March-2025.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;50.1078%&#8221; top=&#8221;55.1601%&#8221; position=&#8221;bottom&#8221;]Australia: ExxonMobil and its field partners have approved approximately US$200 million investment in the Kipper 1B project.\u00a0The project will require a single subsea well tied back to the West Tuna platform.[\/nectar_hotspot][nectar_hotspot left=&#8221;46.8662%&#8221; top=&#8221;28.5132%&#8221; position=&#8221;bottom&#8221;]China: Industry sources have reported that a front-runner has emerged to supply CNOOC subsea production systems (SPS) for its Liuhua 28-2 and Liuhua 27-1 oilfields in the South China Sea.[\/nectar_hotspot][nectar_hotspot left=&#8221;16.086832284927368%&#8221; top=&#8221;36.43301857842339%&#8221; position=&#8221;bottom&#8221;]Guyana: ExxonMobil has filed the environmental impact assessment for the Hammerhead development offshore Guyana, with a scheduled production start date of 2029. The project will require at least 30 subsea trees across four drill centres connected to a floating production, storage and offloading (FPSO) unit. [\/nectar_hotspot][nectar_hotspot left=&#8221;38.7505%&#8221; top=&#8221;27.4957%&#8221; position=&#8221;bottom&#8221;]Azerbaijan: TotalEnergies has commenced the front-end engineering and design (FEED) studies for the second phase of the Absheron development, with the objective of reaching readiness for the final investment decision (FID) in 2026.[\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<ul>\n<li>Subsea tree contract award announced remains subdued, with only five units recorded year-to-date. Furthermore, there has been a 7% downward revision to Westwood\u2019s 2025 subsea tree demand outlook, totalling 265 units as E&amp;Ps continue to prioritise their Capex distribution, with several final investment decision (FID) ready projects being optimised in the face of high supply chain cost. Key subsea tree contract awards to watch for the remainder of 1Q 2025 include Eni\u2019s Coral Norte (Mozambique), Shell\u2019s Gato do Mato (Brazil) and Equinor&#8217;s Johan Sverdrup phase III project in the Norwegian North Sea.<\/li>\n<li>Visible base-case subsea tree demand for the 2025-29 period is forecast at c.1,385 units, a marginal 1% decline compared to last month\u2019s outlook.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nDirector, SubseaLogix<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 css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<h4>Updated &#8211; 6th February, 2025<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;17534&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2025\/01\/Subsea-Tree-Tracker-February-2025.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;31.5145%&#8221; top=&#8221;20.5789%&#8221; position=&#8221;bottom&#8221;]Norway: OneSubsea announced it had been awarded a sizeable subsea production systems (SPS) work scope to expedite field development projects for V\u00e5r Energi. The first package includes a complete SPS system, including four vertical subsea trees, wellheads, templates, manifolds, and other associated equipment.[\/nectar_hotspot][nectar_hotspot left=&#8221;29.1321%&#8221; top=&#8221;39.904%&#8221; position=&#8221;bottom&#8221;]Ivory Coast: Murphy Oil plans to submit a field development plan by 4Q 2025 for its Paon field. Murphy reportedly completed a seismic reprocessing survey in 4Q 2024 and plans to initiate a three-well exploration program in 4Q 2025.[\/nectar_hotspot][nectar_hotspot left=&#8221;52.1037%&#8221; top=&#8221;50.8813%&#8221; position=&#8221;bottom&#8221;]Australia: Chevron plans to issue a request for information (RFI) in January 2025 for the drilling work scope for its Gorgon Stage 3 Drilling and Completion Campaign. The programme consists of six subsea wells across the Geryon and Eurytion (G&amp;E) fields. Given a 20-year framework agreement between TechnipFMC and Chevron Australia announced in 2Q 2023, TechnipFMC is expected to supply the related subsea production equipment. [\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<ul>\n<li>No subsea tree contract award was announced in January 2024. However, in early February, OneSubsea announced a strategic subsea partnership agreement with V\u00e5r Energi for standardised subsea equipment for upcoming oil and gas developments in the Norwegian Continental Shelf (NCS). OneSubsea confirmed that the first package includes a complete SPS system, including four vertical subsea trees.<\/li>\n<li>Key subsea tree contract awards to watch for the remainder of 1Q 2025 include Eni\u2019s Coral Norte (Mozambique), Shell\u2019s Gato do Mato (Brazil) and TotalEnergies\u2019 Preowei development offshore Nigeria.<\/li>\n<li>Visible base-case subsea tree demand for the 2025-29 period is forecast at c.1,395 units, averaging approximately 279 units a year.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nDirector, SubseaLogix<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 css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<h4>Updated &#8211; 6th Janaury, 2025<\/h4>\n[\/vc_column_text][nectar_image_with_hotspots image=&#8221;17112&#8243; preview=&#8221;https:\/\/www.westwoodenergy.com\/wp-content\/uploads\/2024\/12\/Subsea-Tree-Tracker-January-2025.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;30.3433%&#8221; top=&#8221;41.1374%&#8221; position=&#8221;bottom&#8221;]Nigeria: TechnipFMC confirmed the contract awarded to supply its Subsea 2.0\u00ae subsea production systems at Shell\u2019s Bonga North project. The work scope covers the design and manufacture of subsea tree systems, manifolds, jumpers, controls and services.[\/nectar_hotspot][nectar_hotspot left=&#8221;23.742%&#8221; top=&#8221;24.9048%&#8221; position=&#8221;bottom&#8221;]UK: TechnipFMC has received the notice to proceed with the integrated engineering, procurement, construction, and installation (iEPCI) work scope for the Northern Endurance Partnership CCS project, following the project\u2019s final investment decision (FID) announced on 10 November 2024. TechnipFMC indicated that this award was included in its inbound orders.[\/nectar_hotspot][nectar_hotspot left=&#8221;7.572428286075591%&#8221; top=&#8221;20.88155958387587%&#8221; position=&#8221;bottom&#8221;]USA: Beacon Offshore announced it had sanctioned the development of its Shenandoah Phase II in the US GoM. This project will involve the drilling and completion of two additional production wells. The operator also plans to sanction the Shenandoah South discovery in 2Q 2025 and will require two subsea wells.[\/nectar_hotspot][nectar_hotspot left=&#8221;11.250136196613312%&#8221; top=&#8221;21.0732544793023%&#8221; position=&#8221;bottom&#8221;]USA: Shell announced a final investment decision (FID) to develop its Silvertip Ph.3 project via two subsea wells tied into existing infrastructure. Production is scheduled to commence in 2026. [\/nectar_hotspot][\/nectar_image_with_hotspots][vc_column_text css=&#8221;&#8221; text_direction=&#8221;default&#8221;]\n<ul>\n<li>4Q 2024 subsea tree award recorded closed at 70 units, representing an 11% quarter-on-quarter decline. This brings total subsea tree award in 2024 to close at 255 units, a 12% year-on-year decline.<\/li>\n<li>Westwood\u2019s 2025 subsea tree demand outlook is forecast to total approximately 290 units, driven by activities offshore Brazil, Turkey, Norway, Nigeria and the Ivory Coast based on a $75-$85\/bbl Brent oil price. Based on our assessment of subsurface, commercial, and geopolitical factors, we categorize the anticipated tree awards as follows: 174 units (60%) are classified as \u201cFirm\u201d, 76 units (26%) as \u201cProbable\u201d, and 30 units (10%) are classified as \u201cPossible\u201d, with 12 units already issued with a letter of intent (LoI), pending final investment decision.<\/li>\n<li>Our visible base-case demand outlook for subsea tree units from 2025 to 2029 is estimated at 1,370 units, averaging 274 units per year, representing a 13% increase compared to the annual average over the 2020-2024 period. ExxonMobil and Petrobras will account for 29% of forecast demand, driven by activities in the Stabroek Basin and the Brazilian NOC\u2019s continued investment in its pre-salt Basin.<\/li>\n<\/ul>\n<p><strong>Mark Adeosun<\/strong><br \/>\nDirector, SubseaLogix<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":[353,39,663,48,445,349,340,331],"tags":[],"class_list":{"0":"post-9958","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-subsea","14":"category-subsealogix"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - 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