Subsea production is
a type of oil extraction in which wellbores are drilled through the seabed. It
is typically carried out for the extraction of petroleum products that lie in
the rock formation beneath the seabed. The increasing demand for energy and the
maturity of onshore resources are shifting the momentum toward subsea
intervention. Subsea production systems allow the use of one strategically
located platform to service numerous wellbores and, hence, in future, they will
hold an advantageous position in terms of cost savings.
Analysts forecast
the Global Subsea
Production market to grow at a
CAGR of 5.6 percent over the period 2013-2018.
The report
recognizes the following companies as the key players in the Global Subsea
Production Market: Aker Solutions, Cameron, Dril-Quip, FMC Technologies and GE
Energy
Other Prominent
Vendors in the market are: National Oilwell Varco, Oceaneering International,
Transocean and Vallourec.
Rapid technological
advancements are one of the major trends emerging in the market. Key market
players are investing heavily toward improvement of technologies for offshore
oil and gas exploration. Increased investment by market vendors provides the
required fillip to the growth of the market.
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Covered in this Report
The report covers
the present scenario and the growth prospects of the Global Subsea Production
market for the period 2014-2018. The report considers the market segmentation
based on the following criteria: equipment and geography.
Global Subsea
Production Market 2014-2018, has been prepared based on an in-depth market analysis
with inputs from industry experts. The report covers the Americas, and the APAC
and EMEA regions; it also covers the Global Subsea Production market landscape
and its growth prospects in the coming years. The report includes a discussion
of the key vendors operating in this market.
According to the
report, consumption of oil and gas worldwide has increased manifold and is one
of the major driving factors of the market. Increased oil and gas consumption
has compelled governments worldwide to shift their focus to offshore oil and
gas reserves to increase their overall production.
Further, the report
states that growth in environmental concerns related to subsea production could
hamper the growth of the market in the coming years. Subsea production could
increase the chances of oil spills and leakages, which could prove catastrophic
for the marine ecosystem.
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