North Sea owners of offshore support vessels can expect to benefit from some uptick in utilisation already in 2018 after Statoil moved ahead with its huge Johan Castberg field this week.
More vessel demand is expected to follow from 2019 to 2021, with the field set to come online in 2022, Pareto analyst Synnove Gjonnes tells TradeWinds this week.
The $6bn plan for the milestone project in the Barents Sea will not rewrite the book on OSV demand, partly because of so much oversupply already plaguing the sector.
