Global Market Outlook

18 January, 2012


Global Market Outlook

18 January 2012 Aberdeen Branch Breakfast Seminar

Chairman Alistair Birnie, Managing Director, Denmore Technologies Ltd


Flyer PDF file



Companies in Aberdeen have a long and distinguished record as participants in the global energy market. Our speakers looked ahead to the future of this market, particularly the subsea arena and the implications for both Operators and Contractors.



Kader Dicko, Senior Analyst, Infield Systems Ltd

Long term market fundamentals of the offshore oil and gas industry are conducive for growth but the deteriorating health of the global economy (Eurozone crisis) will likely play a major role towards this process. If sustained over a longer period, the recent global economic weakening might possibly burst the current bubble surrounding the oil and gas industry, mostly if oil prices considerably weaken below the current US$100/barrel mark and the low business confidence of financial markets spread to the offshore market. The next few months will be crucial to gauge the impact of the global economy status on the offshore industry. The aim of this presentation was to illustrate the current state and medium term outlook of the global subsea and offshore construction market, whilst providing a macro view of different dynamics related to the offshore oil and gas industry.


Mike Beveridge, Managing Director, Simmons & Co

Mike presented an update on the capital and financing markets, talking through some major themes which are driving offshore and subsea activity both in the North Sea and Internationally.