The domestic Marine engineering equipment industry climbed from the freezing point

Since the new century, the world economy has grown rapidly, the energy demand has continued to increase, the oil price has risen, and the demand for offshore equipment has increased at home and abroad. The national policy supports the localization of offshore equipment, China's shipbuilding, petrochemical, shipping and other enterprises have increased investment and research and development of offshore equipment, Bohai Rim region, Yangtze River Delta region, Pearl River Delta region gradually formed offshore equipment industry cluster, involved in offshore equipment construction of more than 100 enterprises, China's offshore equipment industry through the trough strides forward

Deep-water geophysical exploration ship "Offshore Oil 720".

In 2010, the "Decision of The State Council on Accelerating the Cultivation and development of strategic emerging Industries" made it clear that the development of Marine resources and Marine engineering equipment should be vigorously developed. In 2011, China also issued the "Marine Engineering Equipment Industry Innovation and Development Strategy (2011-2020)", which proposed that the Marine engineering equipment industry is the material and technical basis for the development and utilization of Marine resources, is a strategic emerging industry that is currently accelerated in China's cultivation and development, and is an important direction for the adjustment and revitalization of the shipbuilding industry.

The reason why there is such a reference, one of the reasons is that before this, China did not take the offshore engineering equipment as an equipment industry to develop, at that time, offshore equipment only followed the footsteps of the shipbuilding industry, oil companies need, shipping enterprises supporting the production of offshore platforms.

"Under the strong support of national policies and the dual pull of strong market demand, a number of offshore equipment, especially jack-up drilling platform construction enterprises, have emerged in China after 2011, and their production capacity has expanded rapidly." However, with the cliff drop in international oil prices, the offshore equipment market fell to the freezing point at the end of 2014 and 2015." Wang Rong, assistant general manager of China Sea Engineering, told Thepaper.cn (www.thepaper.cn) that despite the policy support, the offshore equipment industry has been going hard for more than a decade, and offshore enterprises are struggling.

In recent years, the sea industry equipment construction capacity has experienced a major adjustment, Wang Rong said, the current market has a small number of real Marine construction enterprises, most of the original Marine business enterprises adjusted to ship based. There are less than 10 offshore enterprises that insist on deep cultivation of final assembly and construction, and these enterprises are the backbone of China's offshore equipment construction industry.

Bright spot in the downturn: Offshore Oil and Gas Processing Plants

The development of offshore equipment is closely related to oil and gas demand and international oil prices. International oil prices have fluctuated, and the offshore equipment industry has also experienced a roller coaster market.

Around 2010, the international oil price once soared to $120 / barrel, the demand for offshore drilling equipment was strong, and many companies flocked to the market. In 2014, the international oil prices plummeted, the oil and gas companies had to bite the bite to control operating costs, the cost of offshore barrel oil extraction fell to the balance point of about 40 US dollars, the oil field exploration and development business shrank sharply, the demand for offshore drilling equipment fell into a long-term downturn, forcing the offshore equipment industry to reshuffle. In 2022, the impact of the epidemic has weakened, the tension between Russia and Ukraine, and the demand for oil and gas is strong, which has stimulated international oil prices to climb all the way back to a medium high, driving the global offshore oil and gas resource development activities to continue to pick up, and the offshore equipment industry has ushered in the dawn.

Although the current international oil prices are still unstable, the offshore equipment industry is still in a downturn, but that year's offshore drilling equipment inventory is gradually being digested by the market, floating production storage and offloading equipment (FPSO) demand is stable, is the downturn in the market bright spot. In particular, the FPSO market will grow rapidly in 2022, with nearly 10 FPSO orders placed around the world, and the main construction and refitting will be concentrated in China.

Floating production storage and offloading unit (FPSO) "Offshore Oil 111".

FPSO is vividly known as "offshore oil and gas processing plant", it is the core facility of offshore oil and gas resources development, mainly used for offshore oil and gas and other energy exploitation, processing, storage, shipping, can be from the underground oil and gas resources rough processing into qualified crude oil storage in the cargo tank, reached a certain amount of reserves through the export system to shuttle tankers.