Let’s make a perspective on the global offshore market offers projections to 2035.


To assist navigate and understand the current cycle in the offshore rig market, our offshore drilling outlook provides a reference case for the evolving offshore markets for jack ups and floating rigs (semisubmersibles and drill ships) through 2035—delivering a view on market conditions and timing for recovery.


2020’s market started with the lowest activity levels seen in 20 years, on 21st April 2020 oil prices turned negative. At that same vein, operators have not increased offshore-exploration capital expenditures. Although some premium rigs have been reactivated recently, we anticipate that the market will be slow to recover.


In 2018 alone, 37 jack-ups were retired, the highest number seen in the past five years. Despite these retirements, there was still an oversupply of jack-ups. Marketed utilization has been reduced to about 62 to 69 percent, and new contracts were for day rates that were an average of 15 percent lower than they were in 2017. For floaters, 20 rigs retired in 2018, which led day rates to increase 25 percent in 2018, accompanied by an increase in the number of fixtures signed.


By 2035, we project that exploration and production companies will need to add 43 million barrels per day of new crude from unsanctioned projects to meet demand. Closing this gap will require additional output from both shale and offshore. We expect offshore to account for about 30 percent of this new crude production, with roughly half of the total offshore volume coming from deep-water and higher-cost ultra deep-water resources.


As non-national-oil-company operators shift focus to deep-water fields because of increasing break-even costs of shallow-water fields, jack-up demand should grow 1 percent per year through 2035. Following this trend, utilization will recover to above 80 percent by 2023, driven by a large number of retirements and continued deferment of the order book. The chronic jack up oversupply appears set to end, as extensive retirements of older and lower-spec rigs in the near future are expected to lead to a 9 percent decline in the overall jack up fleet by 2035.


Over the course of 2020, floating-rig demand will drop slightly because of unstable oil prices, but growth—to the tune of 6 percent per annum between 2020 and 2027, then 2 percent per annum until 2035—is expected to follow. Key growth regions will be Africa, Brazil, and the Gulf of Mexico. We anticipate that supply will remain relatively stable through 2026, leading utilization to recover to 80 percent by 2026 and long-term floater-supply growth to reach about 13 percent by 2035.


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Aramco has worked to roll out a company-wide health awareness campaign, ensuring all employees have access to the latest accurate information about preventing transmission of COVID-19; what actions to follow should symptoms occur; and where to receive medical assistance.


In addition, Aramco has introduced an online COVID-19 mental health tool for it personnel in isolation or quarantine, along with their family and friends. Where possible employees are working from home, including those deemed to be at higher risk from infection. However, many other staff members continue to report to their normal workplace because of the essential nature of their duties, which cannot be conducted remotely.


To protect staff working at Aramco sites, the company has intensified sterilization measures, with 100% thermal screening of employees and contractors across all facilities and company transport laid on to limit the possibility of contagion at offshore and onshore locations. Last month, the company and its subsidiaries donated $53 million to the Health Endowment Fund of the Ministry of Health of Saudi Arabia to support efforts to combat COVID-19.


Navis provisions crewing management service to the diversified fleet including to 11 NOS AHTS DP2, 8 NOS PSV DP1/DP2, 2 NOS Cable Layer DP2 Accommodation Barges, 9 NOS Jack Up Barges DP2 Self Elevated/Self Propelled currently hired under ARAMCO projects insuring above requirements are strictly met/followed by our supplied offshore personnel. Our operators have implemented binding measures due to COVID -19. Therefore from the very outbreak of quarantine Navis team as well as our supplied seafarers were instructed for further control of health status starting two weeks prior departure adhering to pass additional medical examination checks at our approved medical centre. Further pre-joining instruction is duly carried out by our team on virus precaution measures. Although, from 12th March all office employees were transferred to work remotely without compromising on their working conditions and remuneration, unlike less firm competitors within the offshore services providers market in Eastern Europe.


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IMO extend the period of documents of Ukrainian seafarers that expires in March / April / May for not more than 3 months from the date of expiration. This is stated in an official letter from the Minister of Infrastructure of Ukraine Vladislav Kryklii. According to the press service of the ministry, in addition to the letter of the Ministry of Infrastructure, a letter was sent to the IMO, which details information on the extension of the validity of qualification documents of seafarers and other documents of seafarers, which are mandatory in accordance with the requirements of international law (seafarer's identity card and medical certificates of a seaman), as well as ship documents. It is known that certificates of seafarers that expired on March 1, 2020 or later remain valid until June 30, 2020. In addition, in case of further distribution of Covid-19, the issue of re-extending the validity period of all qualification documents of seafarers will be urgently considered.



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Earlier, IMO itself made recommendations for prolonging such documents in connection with quarantine measures due to the coronavirus pandemic, but this required appropriate steps. And on 20 April 2020 published on their website Notifications related to COVID 19:


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The Maritime Administration of Ukraine reported:


“The Maritime Administration understands the complexity of the situation regarding the outbreak of coronavirus disease Covid-19.”


In order to protect the health of our citizens, as well as taking into account the appeal to the maritime community, members of the board of directors in accordance with the provisions of the law on the preparation and certification of the sea and watch-keeping of 1978, as amended.”


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Dear Seafarers Family,


Over the upcoming months, we would be growing close to all of you in our recently created Telegram community. As a team, we have decided the best way to continue and educate our global community is through other social media channels. Platforms such as Telegram will allow for easier access to searchable content. We will continue to keep you informed for above the market job offers with reasonable rates within Navis Crew Management (NCM) entire client list, while educating and attracting a wider audience interested in Offshore Oil & Gas industry letting you know more about Navis serviced projects.


We are growing fast and we’re committed to success!


Our Official Navis Telegram Channel (NTC) was first formed in April 2020 as a central hub to gather and apprise those interested in our managed/serviced Offshore Projects & Available Vacancies:


1. Grow a community of loyal supporters interested in the advanced technology we are building long-term.
2. Receive particular feedback from those recruited & employed by dint of Navis in Offshore Support Vessel, Construction, Exploration and Production divisions within Oil&Gas Offshore industry.
3. Collect incredible real-life stories from offshore professionals affected by the current state of the Oil&Gas industry.
4. Post up our community in the full extent regarding available job offers with reasonable rates within Navis Crew Management entire client list of serviced projects in Offshore Support Vessel, Construction, Exploration and Production divisions within Oil&Gas Offshore industry, including New Projects Commencement Notifications evolving offshore markets for Jack Up Barges and Floating Rigs through entertaining activities, challenging others to step outside their comfort zone and explore the vast seascape of the multi-trillion dollar industry we are targeting.
5. Gather community questions about our services and mission in order to create focused content during the next stage of business growth.


We plan to keep NTC opened for announcements and will close down the ability for community posting, as our team resources are better suited elsewhere. What’s to come will be more effective. Our newer anticipated bots platform will allow us to get your questions answered and distributed to a wider audience. As they say, when one door closes, another shall open.


Here’s what you can expect from the Navis Team moving forward.


• Quarterly Tech Updates outlining the progress of our developments.
• Opportunities providing our team with constructive feedback.
• Employment offers updated list opening career opportunities, as well as our additional services newsletter to seafarers by Navis.
• And more to come!


NCM is in this for the long haul. We are pro-actively working closely with industry leaders and enterprises. Our goal is to bring more efficiency, transparency, accountability and responsibility to this industry.

Innovative leadership is our strength. We are willing to do the necessary work, in collaboration with industry partners, to create changes long overdue in the industry.


Our Telegram community is available via link https://t.me/Navis_NCM


Thank you again for being apart of our Official Navis Telegram Community (NTC).


The Navis Team

NPCC is a world class Engineering, Procurement and Construction Company that provides total EPC solutions to both the Offshore and Onshore Oil & Gas sector. It provides engineering, procurement, project management, fabrication, installation and commissioning to project owners and operators.

It was established in 1973 and is owned by Senaat, an Abu Dhabi Government Holding Company and Consolidated Contractors Group (CCC), an International Construction Group.

NPCC is head-quartered in Abu Dhabi and operates in Arabian Gulf, South Asia and South East Asia, and has future plans to expand its operations to Africa and Caspian region.

It has relationships with most of the Operating Companies (OPCOs), National Oil Companies (NOCs) and International Oil Companies (IOCs), built on its proven track record of project delivery, quality, safety and customer satisfaction

NPCC engineering, provides innovative basic, detailed and offshore engineering solutions, utilising the latest and most advanced design software. Its engineering services are provided by a team of over 1200 engineers, based in three engineering centres in Abu Dhabi, Mumbai and Hyderabad (Anewa).

NPCC has state-of-the-art fabrication facilities in Mussafah, Abu Dhabi, spread over an area of 1.3 million sq. meters, and yard is capable of fabricating up to 100,000 MT of structural steel every year.

The company owns a fleet of 22 offshore vessels equipped with modern facilities to support its shallow and deep water operations. It can lift structures weighing up to 4,200 Tons; and is also equipped for laying subsea cables and pipelines, up to 66 inches diameter; in water depths from 10 to 2000 Meters.

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Contact Us:

Navis Crew Management

Address: Didrikhsona str. 13, Odessa, Ukraine, 65029

Tel: +38 048 705 73 73