Finance News

Silixa, the specialist service company delivering distributed fibre optic monitoring solutions for the world’s most demanding data acquisition challenges, has announced 2019 as a breakthrough year for the firm’s financial and strategic performance. 

The global oil and gas market demand for large-diameter offshore pipeline, known as trunkline, is set for an annual drop of 26% this year, with the size of total installations forecasted to reach 2,150 kilometers (km), a Rystad Energy analysis shows. This downturn’s impact on trunkline demand is, however, lighter than that of 2016, and recovery is likely to be swift, led by projects in the Middle East.

One year after the field came on stream digital solutions are key to maintaining high safety standards and value creation in all parts of the operations at Johan Sverdrup. This has increased earnings by more than NOK two billion.

Offshore investments are expected to rebound from 2021 and oil and gas operators will be looking for yards to build new facilities, with 40% of these contracts expected to be floating production storage and offloading (FPSO) units in the next five years.

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