The
mounting demand for energy across the globe owing to the rapidly
expanding global population and the strengthening industrial sector,
coupled with maturing onshore oil and gas reserves, are leading to a
rising focus on the exploration and production of oil and gas from
subsea reserves. The field of subsea oil and gas exploration is
rapidly developing owing to product and process innovations and
technological developments, leading to much improved exploration and
drilling activities in deep waters. The continuous global demand for
enhancing the production of oil and gas from subsea resources is the
key factor driving the global subsea boosting systems market.
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Subsea
boosting systems refer to the arrangement deployed at the top of an
oil/gas exploration well to ensure the flow of fluid at an economical
rate. Subsea boosting systems are commonly employed as oil and gas
exploration activities take place at increased depths, at increased
distance from the host exploration setup, and where the oil is heavy
and reservoir pressure is low.
Subsea
boosting systems primarily consist of multiphase, down-hole boosting,
raw subsea water injection, and gas compression facilities. There are
many benefits of using subsea boosting systems at higher depths,
including a much safer and faster start-up of wells that have low
energy/pressure, prolonged economic lifetime of the oilfield,
improved production capacities, recovery, and the ability to switch
to a different production strategy.
Rising
Investment in Subsea Exploration Helping Subsea Boosting Systems
Market
The
pressing need to be able to satisfy the mounting energy demands from
across the globe and the rising subsea exploration activities are the
key drivers of the global subsea boosting systems market.
Technological developments and several innovations in the field of
subsea boosting technologies have led to the development of boosting
systems with higher performance, reliability, and endurance. The
rising level of investment in the oil and gas industry is also a key
factor augmenting the demand for improved varieties of subsea
boosting systems across the globe.
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The
high initial costs of these systems and the addition of an additional
stage of operation, requiring increased manpower and operating costs,
are some of the key retraining factors limiting the growth of the
global subsea boosting systems market.
Demand
from Brazil Driving Latin America Subsea Boosting Systems Market
The
market has observed widespread adoption in subsea oil production
areas of Latin America, the Middle East, and Africa. The high level
of investment observed in the field of subsea exploration in these
regions is projected to create significant growth opportunities for
the global subsea boosting systems market in the near future.
Latin
America, in particular, is one of the most lucrative regional
segments of the subsea boosting systems market. In Brazil, which is
one of the most prominent centers for subsea boosting systems in the
region, a large number of onshore oilfields are nearing maturity and
some are already matured. Campos and Espirito Santo are the other key
offshore oil fields in Latin America that can contribute to the
expansion of the global subsea boosting systems market.
Some
of the key businesses operating in the global subsea boosting systems
market are FMC Technologies Inc., Cameron, Sulzer Limited, General
Electric Co, Framo Mohn AS, Aker Solutions, Oceaneering International
Inc., and GEOG VetcoGray.
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TMR Blog Energy Reports :
http://www.tmrblog.com/search/label/Energy
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