A rapid rise in subsea tree installations is projected for the global offshore industry in the coming years, as operators are poised to boost expenditure substantially on subsea equipment and installation. After activity levels fell to only 240 subsea trees installed globally in 2017 – the lowest level since the turn of the century – Rystad Energy forecasts that over 350 subsea trees will be installed per year by 2021. The market for subsea trees, or so-called Xmas trees, is expected to grow by 8% per year in the period 2017 to 2023.…
