Covid-19 and subsea: Demand for umbilicals set for multi-year blow, despite cost savings
Covid-19 and subsea: Demand for umbilicals set for multi-year blow, despite cost savings
The Covid-19 pandemic and its devastating effect on global energy investments is set to damage subsea purchases, with demand for umbilical lines expected to fall by 32% to just 713 kilometers (km) of lines in 2020, down from 1,041 km last year, a Rystad Energy impact analysis reveals.
Umbilical demand will not match or exceed 2019 levels until after 2023, our forecasts show, despite definite...