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World Offshore Maintenance, Modifications & Operations Market to Grow at a Uniform CAGR of 5.4% by 2020

The offshore MMO market is projected to grow at a CAGR of 5.4% over the period 2015-2019.Over the forecast period, $426.1bn is estimated to be spent on MMO relating to fixed platforms and $55.6bn on MMO of floating platforms. However, a 12% decline in MMO expenditure is expected in 2015. This is due to the delay of some major modifications by operators and a reduction as some aspects of MMO that are not directly associated to production are cut.

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