The offshore energy industry is in the midst of a new investment cycle, driven by major developments in South America, renewed demand for energy security and an…
The offshore energy industry is in the midst of a new investment cycle, driven by major developments in South America, renewed demand for energy security and an increasing reliance on digital technologies to improve asset performance. For Matt Tremblay, Senior Vice President, Global Offshore at the American Bureau of Shipping (ABS), the opportunities are significant — but so are the challenges.
Speaking with Offshore Engineer in Houston, Tremblay described an industry that is “very busy, very successful,” with a robust pipeline of projects, particularly in Brazil and Guyana, which together account for roughly half of current greenfield offshore activity. But growth is being tempered by supply chain constraints.
“We’re starting to get to a point where the supply chain challenges are really starting to almost limit the capacity of project execution,” Tremblay said, noting that lead times for major rotating equipment can now stretch from 40 to 60 months, complicating planning for multi-billion-dollar developments. While new floating production systems and offshore infrastructure continue to dominate headlines, Tremblay believes one of the industry’s biggest opportunities lies in something less visible: digitalization.
“One of the big areas that ABS as a class society is involved with is the digitization of
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