#Offshore Drilling Riser Market

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Future Outlook of Offshore Drilling Riser Market: 2.2% CAGR from 2025 to 2035

Offshore Drilling Riser Market Overview

The offshore drilling riser market is expected to increase at a compound annual growth rate (CAGR) of 2.2% between 2025 and 2035. Based on an average growth pattern, the worldwide offshore drilling riser market is expected to generate USD 5.38 billion in revenue by 2035. It is projected that the offshore drilling riser market would be worth USD 4.23 billion by 2025.

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Offshore Drilling Riser Market Analysis and Size

The automated process of offshore drilling is used to harvest natural gas and petroleum from the seabed. In the deep water and open ocean regions off the shore, it makes use of a fixed or movable platform. Typically, it takes petroleum out of the rock formation beneath the ocean floor. As the world's consumption of oil and petroleum products continues to rise, offshore drilling is becoming more and more popular.

Global investments in offshore exploration and production (E&P) activities have been fueled by rising crude oil prices. Contracts for offshore drilling risers have been driven by a notable increase in the number of final investment decisions for various offshore projects during the previous two years.

The Offshore Drilling Riser Market Size has been steadily growing due to increasing offshore exploration activities and technological advancements in deepwater drilling. Companies are investing in high-performance riser systems to ensure operational efficiency and safety. The market share is dominated by key industry players focusing on innovation and enhanced riser designs to meet the challenging conditions of offshore drilling.

Key Market Players

Tenaris

Schlumberger

Aker Solutions

Parker Hannifin

Dril-Quip

Baker Hughes

Claxton Engineering

Subsea 7

Weatherford

TechnipFMC.

Market Segments

By Type

Marine drilling riser

Tie-back drilling riser

By Material

Steel Risers

Titanium Risers

Composite Risers

By Application

Shallow Water (up to 300 meters)

Deep Water (300 to 1,500 meters)

Ultra-Deep Water (beyond 1,500 meters)

By Diameter

Less than 10 inch

10 to 15 inch

Above 15 inch

Offshore Drilling Riser Market Value and Growth

The Offshore Drilling Riser Market Value is expected to witness significant growth due to the rising demand for oil and gas exploration in deepwater locations. Market expansion is driven by increased investments in offshore rigs and improved drilling techniques. With the resurgence of offshore exploration projects, the Offshore Drilling Riser Market Growth is projected to accelerate over the forecast period.

Offshore Drilling Riser Market Trends

Several Offshore Drilling Riser Market Trends are shaping the industry:

Technological Advancements: Enhanced riser systems with better fatigue resistance and corrosion protection.

Increased Deepwater Exploration: Growing interest in deepwater and ultra-deepwater fields.

Sustainability Initiatives: Focus on eco-friendly drilling solutions to reduce environmental impact.

Adoption of Digital Technologies: Integration of IoT and AI for monitoring and predictive maintenance.

Offshore Drilling Riser Market Potential

The Offshore Drilling Riser Market Potential remains high, especially in regions with untapped offshore reserves. The Middle East, North America, and Asia-Pacific are expected to be key contributors to market growth. With advancements in drilling riser technologies and increasing investments in offshore projects, the market holds strong potential for expansion.

Offshore Drilling Riser Market Forecast

According to industry experts, the Offshore Drilling Riser Market Forecast indicates a steady rise in demand for high-performance riser systems. The market is expected to experience robust growth due to:

Rising energy demand driving offshore exploration.

Investments in next-generation riser technologies.

Strategic collaborations between oil & gas companies and riser manufacturers.

Offshore Drilling Riser Market Analysis

An Offshore Drilling Riser Mar Analysis reveals that competition among market players is intense, with companies focusing on research and development to improve product efficiency. The market is witnessing increased mergers and acquisitions as industry leaders seek to strengthen their foothold. Factors such as regulatory policies, geopolitical conditions, and fluctuating oil prices also influence market dynamics.

Frequently Asked Questions

What is the market size of Offshore Drilling Riser Market in 2025?

What is the growth rate for the Offshore Drilling Riser Market?

Which are the top companies operating within the market?

Which region dominates the Offshore Drilling Riser Market?

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Conclusion

The Offshore Drilling Riser Market is poised for significant growth in the coming years, driven by increasing deepwater exploration activities and technological advancements. As energy demand continues to rise, the need for efficient and durable offshore drilling risers will remain high. Companies investing in innovation and sustainable practices are likely to gain a competitive edge in this evolving market landscape.

[tubetrading]

ERW Pipes in Oil and Gas Industry: Key Roles and Market Trends

A stable and efficient infrastructure is crucial for the transportation of hydrocarbons in the oil and gas industry.  Electric Resistance Welded (ERW) pipes are a critical component that assumes a central role in this system.  The pipes in question are renowned for their multifunctionality, resilience, and economical nature, rendering them a widely favoured option for diverse applications within the oil and gas industry.  The strength of seamless connectivity - Choose ERW Pipes offered by Tube Trading Co. – an excellent ERW Pipe Supplier in Gujarat for your critical applications.

This blog examines the significant functions of ERW pipes within the industry and investigates the most recent market trends pertaining to these important components.

What are ERW Pipes?

ERW pipes are a variant of steel pipes that are manufactured through the application of a high-frequency electrical current along the edges of the steel strip or coil.  The flow of electrical current produces thermal energy, resulting in the fusion of the adjacent edges and the creation of a connection without any visible seams.  ERW pipes are extensively utilised in the oil and gas sector owing to their exceptional mechanical characteristics, rendering them appropriate for many applications in both onshore and offshore environments.

Key Roles of ERW Pipes in the Oil and Gas Industry:

Exploration and Production:

ERW pipes are widely employed in drilling activities within the upstream portion of the oil and gas industry.  The primary function of these pipes is to act as protective casings for the wellbore, thereby preserving its structural integrity and mitigating the risk of collapse during the drilling process.  ERW pipes are utilised in well-completion operations to enhance the effective extraction of hydrocarbons.

Transportation:

Transportation plays a crucial role in the hydrocarbon industry as it facilitates the movement of extracted hydrocarbons from wells to processing units or refineries.  ERW pipes, known for their exceptional strength and weldability, serve as the fundamental component of pipelines utilised for the extensive transit of oil and gas.  They facilitate the uninterrupted transportation of hydrocarbons from the point of extraction to the ultimate consumers.

Distribution and Storage:

Electric resistance welded (ERW) pipes are of significant importance in the midstream sector, since they are utilised for the purpose of distributing and storing refined fuels, including petrol, diesel and natural gas.  The utilisation of these pipes is crucial to the establishment of distribution networks and terminals, facilitating the effective transportation of energy products to end-users.

Offshore Applications:

ERW pipes are commonly utilised in offshore drilling and production due to their notable resilience in challenging marine environments.  These components find application in the construction of platforms, risers, and subsea pipelines, offering enhanced stability and dependability in demanding offshore environments.

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Market Trends of ERW Pipes in the Oil and Gas Industry:

Increasing Demand:

The increasing global demand for electric resistance welded (ERW) pipes within the oil and gas sector is driven by the ongoing growth of exploration and production operations, with a particular emphasis on emerging economies.  The consistent expansion in energy consumption and the imperative for novel infrastructure are significant factors that contribute to the heightened adoption of Electric Resistance Welded (ERW) pipes.

Technological Advancements:

Technological advancements in the field of ERW pipes are being pursued by manufacturers through ongoing investments in research and development, with the aim of improving their inherent qualities.  The utilisation of advanced welding methodologies and enhanced steel compositions has resulted in the development of pipes exhibiting elevated levels of strength, corrosion resistance, and durability.  Consequently, these pipes have emerged as highly suitable for deployment in demanding oil and gas applications.

Environmental Considerations:

The increasing focus of the industry on sustainability and environmental preservation has led to a transition towards more environmentally friendly practices.  ERW pipes, due to their environmentally friendly nature and recyclability, are very compatible with these objectives, hence establishing themselves as a favoured option for enterprises that prioritise environmental consciousness.

Focus on Pipeline Safety:

The issue of pipeline safety has garnered significant attention due to worries surrounding leaks and ruptures, resulting in the implementation of more stringent regulations and standards.  The superior weld quality and consistency of ERW pipes result in a decreased likelihood of failures, hence enhancing the safety of pipelines.

Market Consolidation:

The ERW pipe market is currently through a process of consolidation, wherein prominent industry participants are actively engaging in mergers and acquisitions to enhance their range of products and increase their market reach.  The objective of this trend is to address the increasing demand and sustain a competitive advantage within the sector.

Final Thoughts:

ERW pipes are of significant importance within the oil and gas sector, as they fulfil crucial functions throughout a range of activities spanning from exploration to distribution.  The indispensability of these components in the industry's infrastructure can be attributed to their versatility, durability, and cost-effectiveness.

The anticipated increase in the utilisation of ERW pipes is attributed to the escalating demand for energy and the heightened significance of environmental considerations.  The continuous endeavours of manufacturers to innovate and enhance these pipes will inevitably result in the development of more effective and environmentally friendly solutions, thereby strengthening their significance as a crucial element within the ever-evolving realm of oil and gas transportation and distribution.  Seamless solutions for your piping needs – Partner with Tube Trading Co. – the most reliable ERW Pipe Supplier in Gujarat today!

[theenergyconnection]

This strategic initiative combines Oil States’ MPD Integrated Riser Joint (IRJ) system with Seadrill’s high-spec fleet of floating drilling vessels to enhance safety and efficiency while simplifying and standardizing MPD systems operating in the offshore drilling market.

[versatile-blogger-1]

Surf (Subsea Umbilicals Risers And Flowlines) Market Is Estimated To Witness High Growth Owing To Technological Advancements

The SURF (Subsea Umbilicals Risers and Flowlines) market deals with the installation maintenance and operation of equipment used in the offshore oil and gas industry. Subsea umbilicals provide power communication and chemical injection to the various subsea systems. Risers are necessary to transport oil gas and other fluids from the seabed to the surface while flowlines allow the transportation of these fluids between subsea wells and processing facilities. The growing demand for oil and gas coupled with technological advancements in offshore exploration and production activities are driving the growth of the SURF market. Market Key Trends: One key trend observed in the SURF market is the increasing adoption of advanced technologies. Technological advancements have transformed the offshore oil and gas industry enabling efficient exploration and production activities. For instance the use of advanced materials in subsea umbilicals and risers improves their strength and durability in harsh offshore environments. Similarly the development of intelligent flowline monitoring systems helps detect leakages and prevent environmental damages. These advancements enhance the safety reliability and efficiency of subsea operations thereby driving the growth of the SURF market. The global SURF (Subsea Umbilicals Risers and Flowlines) Market Size is estimated to be valued at US$34.1 billion in 2021 and is expected to reach US$ 34.1 Billion by 2022 growing at a CAGR of 12.9% from 2023 to 2030. PEST Analysis: Political: The SURF market is influenced by political factors such as government regulations policies and geopolitical tensions. Changes in regulations regarding offshore drilling activities can impact the market dynamics. For example stricter environmental regulations may require the implementation of advanced technologies for minimizing environmental impacts. Social: Social factors like increasing energy demand population growth and environmental concerns impact the SURF market. The rising global population and growing energy consumption drive the demand for oil and gas which leads to the development of new offshore projects and drives the SURF market. Additionally the focus on sustainable development and environmental conservation calls for the adoption of technologies that minimize the ecological impact of offshore operations. Technological: Technological advancements play a crucial role in shaping the SURF market. Innovations in materials sensors communication systems and automation technologies have led to improved safety efficiency and productivity in subsea operations. These technological advancements enable deeper and more challenging offshore exploration and production activities driving the demand for SURF products and services. Key Takeaways: The global SURF market is expected to witness high growth exhibiting a CAGR of 12.9% over the forecast period due to increasing offshore oil and gas exploration and production activities. With the growing energy demand and depleting onshore reserves companies are focusing on offshore resources which drives the demand for SURF products. In terms of regional analysis the Asia Pacific region is expected to be the fastest-growing and dominating region in the SURF market. The increasing investments in offshore drilling activities particularly in countries like China India and Australia drive the demand for SURF products in this region. In conclusion the SURF market is witnessing significant growth due to technological advancements and increasing offshore exploration and production activities. The adoption of advanced technologies such as intelligent monitoring systems and advanced materials enhances the safety efficiency and reliability of subsea operations. The Asia Pacific region is expected to witness the highest growth in the SURF market driven by investments in offshore drilling activities. Key players in this market are continuously innovating to provide efficient and sustainable solutions to meet the increasing demands of the offshore oil and gas industry.

[writerblogs]

Global SURF (Subsea Umbilicals, Risers, and Flowlines) Market is Estimated to Witness High Growth Owing to Increasing Offshore Exploration and Production Activities

The global SURF market is estimated to be valued at US$ 34.1 billion in 2021 and is expected to exhibit a CAGR of 12.9% over the forecast period of 2022 to 2030, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The SURF market consists of subsea umbilicals, risers, and flowlines that play a crucial role in offshore oil and gas production operations. Subsea umbilicals are used to transfer power, chemicals, and communications signals between the surface facilities and the subsea wells. Risers are vertical pipelines that connect the subsea wells to the surface facilities for the transfer of produced hydrocarbons. Flowlines are horizontal pipelines that transport the produced hydrocarbons from the riser to the processing facilities onshore.

B) Market Dynamics:

1. Increasing Offshore Exploration and Production Activities:

The SURF market is driven by the growing demand for oil and gas globally, leading to increased offshore exploration and production activities. Offshore fields offer substantial reserves and have the potential to meet the rising energy demand. For instance, deepwater fields in regions like the Gulf of Mexico, Brazil, and West Africa are witnessing significant investments in SURF infrastructure to extract oil and gas from challenging offshore environments.

2. Technological Advancements in Subsea Systems:

Advancements in subsea technologies have improved the efficiency and reliability of SURF systems. The development of lightweight, durable, and corrosion-resistant materials for umbilicals and flowlines enhances their performance and longevity in harsh subsea conditions. Additionally, the integration of sensors and monitoring systems in SURF components enables real-time data transmission for proactive maintenance and troubleshooting, reducing downtime and ensuring operational safety.

C) Market Key Trends:

One key trend in the SURF (Subsea Umbilicals, Risers, and Flowlines) Market  is the adoption of digitalization and automation in subsea operations. The integration of artificial intelligence, robotics, and data analytics in SURF systems enables remote monitoring, predictive maintenance, and autonomous operations. For example, subsea robots equipped with sensors and cameras can inspect and repair subsea infrastructure without human intervention, minimizing the need for costly and risky diver interventions.

D) SWOT Analysis:

- Strengths: Technological advancements in subsea systems, increasing offshore exploration and production activities.

- Weaknesses: High upfront costs of SURF installations, environmental challenges in deepwater operations.

- Opportunities: Growing demand for renewable energy systems, expansion of deepwater exploration in emerging markets.

- Threats: Volatility in oil prices, regulatory uncertainties in offshore drilling activities.

E) Key Takeaways:

In paragraph 1: The global SURF market is expected to witness high growth, exhibiting a CAGR of 12.9% over the forecast period, due to increasing offshore exploration and production activities.

In paragraph 2: The fastest-growing and dominating region in the SURF market is expected to be the Asia Pacific due to the rising energy demand, growing offshore investments, and technological advancements in subsea systems.

In paragraph 3: Key players operating in the global SURF market include Prysmian Group, Aker Solutions, TechnipFMC plc, SUBSEA 7, Saipem S.p.A., McDermott International, Ltd., DeepOcean Group Holding BV, Schlumberger, Halliburton, NOV Inc., Vallourec, Oceaneering International, and Siemens.

As the global SURF market continues to evolve with technological advancements and increasing offshore activities, it offers significant opportunities for players involved in subsea infrastructure development and operation. The adoption of digitalization, automation, and sustainable practices will further drive the growth of the SURF market in the coming years.

[poonamcmi]

Well Interventions change the well's state or geometry, perform well diagnostics, or control the well's production

The procedure of well intervention improves the quality of oil and gas wells and gives information to aid in managing the production rate of oil and gas wells. Onshore and offshore well intervention services are thoroughly described in the well intervention market. The market assessment includes both horizontal and vertical oil and gas wells. Interventions come in two flavours: mild interventions and heavy interventions.

Well Intervention, which historically required drill rigs and required an 18-3/4" BOP and 21" marine riser as the only means of well access with well control, is the capability to enter a well safely and under well control for the purpose of performing a variety of tasks other than drilling.

 Read More @ https://delightblogging.blogspot.com/2022/08/well-intervention-it-changes-state-of.html

[thetejasamale]

Landing String Equipment Market Size New Industry Research Report.  Market by Report | Forecast by,2030.

Market Research Future published a raw research report on the global landing string equipment market Size that contains the information from 2021–2027.  The global landing string equipment marketis expected to register a~6.51% CAGR during the forecast period, 2021–2027.

Landing string equipment are a combination of systemsthat are installed between the tubing hanger and the first riser point. The landing string system generally contains equipment such as a subsea test tree, lubricator valve, and retainer valve. Moreover, landing new and advanced string equipment are used owing to their compatibility with conventional drill pipe handling systems. This system enables higher running speeds as compared to alternative landing methods. On the other hand, traditional drill strings focus primarily on the ability to transfer drilling torque.

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The global landing string equipment market size is projected to reach a valuation of by 2027, with ~6.51% CAGR during the forecast period.

Based onapplication, the global landing string equipmentmarket has been dividedintodeepwater, ultra-deepwater, shallow water, and others. The deepwater segment is expected to hold the largest share in the global market during the forecast period due to an increase in deep-sea mining to meet the energy requirement across the globe. Moreover, deepwater is one of the major application areas for landing string equipment as many companies across the world are focusing on reviving the pending projects of deepwater. Additionally, deepwater offshore application accounts for asignificant share of the operated production of various companies and is a strategic and fast-growing segment for some major companies, including TotalEnergies

Based on region, the landing string equipmentmarket has been segmented into Asia-Pacific, North America, Europe, the Middle East&Africa, and South America. North America accounts for the largest share of the landing string equipment market due to increasing offshore drilling projects and subsea processing. Such investments would accelerate the growth of landing string equipment in this region.

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The key players operating in the global landing string equipmentmarket are Expro Holdings UK 2 Ltd., National Oilwell Varco Inc., Superior Energy Services Inc., Vallourec SA, Yantai Enerserva Machinery Co. Ltd., Enovate Systems Ltd., Expro Group, Quail Tools, Schlumberger Ltd., Superior Energy Services, Inc., Thyssenkrupp AG, Technip FMC, and Interventek Subsea Engineering.

This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging and high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global landing string equipmentmarket, including high-growth regions and/or countries and political and economic environments. The project report further provides both historical market values and pricing and cost analysis

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Offshore Cranes Market Size to Observe Steady Growth, 2022-2030 | MRFR

Offshore Cranes Market -Overview

The escalation in offshore activities for oil & Gas and fishing is estimated to promote the expansion of the offshore cranes market 2020. The energy & power industry reports are produced by Market Research Future, which highlights market options for expansion.  An income of USD 26.21 Billion is likely to be gained with a 9.01% CAGR by 2025.

The upswing in production & drilling operations is estimated to create a favorable momentum for the offshore cranes market. The mounting subsea construction vessel & offshore crane industry is projected to transform the offshore cranes market in the impending period.

Segmental Analysis

The segmental assessment of the offshore cranes market is conducted based on the duty cycle, design type, type, end-use, lifting capacity, and region. Based on the type, the offshore cranes market is segmented into fixed crane, mobile crane, and marine & port crane. Based on the design types, the offshore cranes market has been segmented into telescopic, knuckle boom, lattice, and others. On the basis of the lifting capacity, the offshore cranes market has been segmented into 500 – 3,000 mt, up to 500 metric ton (mt), and above 3,000 mt. On the basis of the duty cycle, the offshore cranes market is segmented into intermediate duty, production duty, and drilling duty. On the basis of regions, the offshore cranes market has been segmented into South America, Europe, North America, Asia-Pacific, the Middle East, and Africa.

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Detailed Regional Analysis

The regional scrutiny of the offshore cranes market has been segmented South America, Europe, North America, Asia-Pacific, the Middle East, and Africa. The Asia-Pacific regional market is anticipated to control the chief market share all through the forecast period. Due to the boost in offshore exploration and production of oil and gas operations within nations such as Australia, Malaysia, China, and Thailand, which is anticipated to encourage the development of the offshore cranes market in these countries throughout the forecast period.

Competitive Analysis

The fortification of the human resource is estimated to be the critical point being addressed in these times of uncertainty. The rebooting of manufacturing activities is another strategic aspect that is being emphasized to ensure that the supply of the end product can be reasonably ensured to the users in the market. The support of the administration in countries around the world is estimated to have a significant impact on the development of the market in the upcoming period. The market is in a state of flux due to the rapid and severe changes in the global economy. The market players are taking the steps that are necessary to ensure that the market survives the turbulent period and emerge recovered in the future. The revamping of distribution channels is also expected in the coming years with a particular focus on using robots for the logistic function on a larger scale than before.

The significant market contenders are Huisman Equipment B.V. (The Netherlands), Cargotec (Finland), Liebherr (Switzerland), XCMG Group (China), National Oilwell Varco (US), Zoomlion (China), Konecranes (Finland), Manitowoc (US), Kenz Figee (the Netherlands), Palfinger (Austria), Seatrax, Inc (US), and American Crane, TEREX Corporation (US), and Equipment Corporation (US). 

Industry Updates:

Mar 2020 Zamil Shipyards, which is a part of Zamil Offshore Services Company, and KenzFigee have signed a Memorandum of Understanding (MoU) for cooperation in the Kingdom of Saudi Arabia for the supply of offshore crane services and restricted construction of KenzFigee offshore cranes & equipment.

Feb 2020 Sparrows Group will provide three cranes for Qatargas offshore North Field expansion project under a sub-contract to McDermott International; the corporation will distribute an EC1000 crane for a riser platform and two of its EC750 cranes for installation on wellhead platforms.

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MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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Subsea Production and Processing Market Research Report

Global Subsea Production and Processing Market

The GMI Research forecasts that the Subsea Production and Processing Market is witnessing an upsurge in demand over the forecast period. This is mainly due to their rising consumption in the packaging industry and various features imparted by them like less operating cost and plant availability.

Introduction of the Subsea Production and Processing Market

Subsea production and processing include wells located on the seafloor as opposed to the surface. The well is lodged by a portable rig despite building a production platform for that well. These systems usually have 7,000 ft or more depths with the potential to extract and transport by riser or even by an undersea pipeline to a production platform nearby.

Key Players of the Global Subsea Production and Processing Market:

·        Aker Solutions

·        Baker Hughes Company

·        Halliburton

·        TechnipFMC plc

·        Schlumberger Limited

·        Weatherford

·        China Oilfield Services Limited

·        Kerui Petroleum

·        Oceaneering International, Inc.

·        NOV Inc.

Subsea Production and Processing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

The crucial drivers responsible for the increasing prominence of the global subsea production and processing market are the augmenting oil and gas discoveries encouraged by liberalization, increasing completion and drilling procedures for oil and gas industry, and the considerable reduction in on-shore petroleum reserves.  For example, ConocoPhillips, in 2020, embarked a remarkable discovery in PL 891 on the Slagugle prospect, located 14 miles north-northeast of Heidrun field in the Norwegian Sea. Also, the growing exploration & production activities in the ultra-deepwater and deepwater acreages led by the mounting energy requirement along with the aggravating offshore drilling activities will further strengthen the Subsea Production and Processing market size. Furthermore, escalated recovery factors, less susceptibility to hydrate formation, and assimilation of subsea fields contribute to market growth.

However, as per Subsea Production and Processing market research, adverse operating conditions, lack of technological knowledge, and excessive upfront investments will hinder market growth. Moreover, fluctuating prices of gas and crude oil, political and technological risks, rigorous government norms towards environmental safety are expected to curb the market growth.

Subsea Production and Processing Market Segmentation:

Segmentation by Production System Component

·        Subsea Trees

·        Subsea Umbilical, Risers, & Flowlines

·        Subsea Wellhead

·        Others

Segmentation by Processing System Type

·        Boosting

·        Separation

·        Injection

·        Gas Compression

Segmentation by Water Depth

·        Shallow Water

·        Deepwater and Ultra-Deepwater

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 ·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a consulting company that provides business insights and research reports for every enterprise. Our team helps understand market dynamics like size, share, drivers, growth opportunities, and other aspects. Our team of analysts and industry experts conducts market intelligence studies to make sure all relevant and fact-based research across enormous sectors such as FMCG, Technology, Energy, Healthcare, and other industries. The prime emphasis is to keep our clients updated about the opportunities and challenges in a wide range of industries. We offer complete assistance to our clients through strategic services to reach a managerial and actionable decision.  We always look forward to helping businesses stay ahead of the curve.

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Global Subsea Manifold Market Research Report: Information By Product (Template, Cluster, and pipeline end), Application (Production and Injection (gas, water, chemicals)) and Region (North America, Europe, APAC, Middle East & Africa) - Forecast Till 2023

Manifolds are connecting systems that are elementary units for infrastructure in the deep sea oil production projects. Subsea infrastructures require manifolds for connecting wells to pipelines and risers, onwards to reach floaters, platforms and other facilities. The application of manifolds lies in merging the flow from the multi-well template and transferring the flow to production flowlines and for managing the distribution of injected water, gas, and chemicals. Any field that is under development process to produce oil from the subsea beds provide the market for subsea manifolds. Manifolds are amongst the greatest cost-effective and operation efficient systems of the development of oil fields while diminishing the demand for subsea pipelines and risers. Subsea manifolds are designed to combine, distribute, control and monitor the flow of fluids from the wells. The subsea manifolds are installed in the deep sea beds by either conventional methods, which involve installation by cables and drilling risers or non-conventional methods including the sheave installation method and pendulous installation method.

The subsea manifold market is driven by facts such as the increasing number of offshore oil discoveries, more multi-well templates in the subsea beds and, harsher geography drilling in offshore basins. In 2017, out of ten new oil discoveries, five were done in deep-water environment.  The geography of the subsea beds is harsher than of onshore. Thus it requires superior infrastructure. The types of subsea manifolds which include template manifold, cluster manifold and pipeline end manifold are designed to withstand tough and ultra-deep conditions. However, the lower crude oil prices are hampering the market for subsea manifolds.  

Global Subsea Manifolds market has been segmented on the basis of products, application and regions. Based on the products, the market is further classified as template manifold, cluster manifold, and pipeline end manifold. Among this classification, cluster manifold segment is expected to dominate the market for subsea manifolds. Cluster manifold are superior than template manifolds as they provide flexibility for segregation of wells, can include chemical injection, unlike the typical manifolds, and allow the re-use of exploration wells. On the basis of application, the market is segmented as production and injection. Among these segments the injection application can additionally be categorized as gas injection, water injection and chemical injection. Geography-wise, the market is segmented into the four regions of North America, AsiaPacific, Europe and Rest of world.

Subsea manifold industry is anticipated to have sharp rise in advancements with respect to technology over the forecast period owing to the continuous developments in the oil industry along with increasing number of projects in the offshore location. Moreover, the market is expected to experience high expansion activities by major players by virtue of focus for offshore field development infrastructure.

Global Subsea Manifold Market is expected to expand at ~4.85% CAGR during the forecast period.

Market Segmentation

Global Subsea Manifold Market

The global subsea manifold market is anticipated to witness remarkable growth during the forecast period. Europe region is expected to dominate the market with the largest market share in the forecast period. In April 2018, Norwegian oil major Statoil started the installation of the first topside for the Johan Sverdrup field development offshore Norway. A higher number of projects in the deep locations in North Sea, are likely to enhance the market for subsea manifolds. North America region is likely to follow the market share with discoveries in the Gulf of Mexico. In 2018, W&T Offshore Inc. and GE’s Baker Hughes has signed a strategic partnership for W&T’s exploration and development plan in the Gulf of Mexico. A higher number of projects are also coming from Mediterranean Sea region from Africa, which will drive the market for subsea manifold in the Africa region.

Key Players

The key players of global subsea manifold markets are ABB (Switzerland), Aker Solutions ASA (Norway), Baker Hughes Incorporated (U.S), TechnipFMC Technologies Inc. (U.S.), General Electric (U.S.), and ITT Bornemann GmbH (Germany). One Subsea (U.S.), Subsea 7 S.A. (U.K.), Schlumberger (U.S.), Halliburton (U.S.), Siemens AG (Germany), and Drill Quip (U.S.) are among others.

[sciencespies]

Hunting Plc Is Not In A Race To The Bottom, Says Oilfield Services Firm's CEO

https://sciencespies.com/news/hunting-plc-is-not-in-a-race-to-the-bottom-says-oilfield-services-firms-ceo/

Hunting Plc Is Not In A Race To The Bottom, Says Oilfield Services Firm's CEO

The oil market is witnessing fairly predictable price oscillations between a $50 per barrel floor and $70 ceiling, with sector bosses upping their efficiencies and optimizing their exploration and production (E&P) drives. Many are demanding more of partner oilfield services (OFS) firms where margins are said to be under pressure, but it’s “not a race to the bottom”, at least for his company says one industry stalwart.

Meet Jim Johnson, Chief Executive Officer of Hunting Plc (LON:HTG), an OFS firm that’s in London’s FTSE 250 index. Giving an exclusive Forbes interview fresh off a set of solid half-yearly financials, Johnson says margin pressure in a challenging operating climate does not equate to scraping the barrel.

Hunting most certainly appears not to be. In August, it reported a first-half 2019 revenue of $508.9 million (up 15% on an annualized basis), with underlying earnings before interest, tax, depreciation and amortization (EBITDA) up 6.2% to $77.4 million, and a reported profit from operations of $41.1 million.

Jim Johnson, CEO of Hunting Plc, says margin pressure in a challenging operating climate does not equate to scraping the barrel.

Daniel Jones, 2019

The company acknowledged it made price reductions on certain product lines to respond to the market environment, but Johnson says his “team’s effort in delivering the results and product diversity” illustrate how Hunting stayed competitive.

“Everybody is so focused on unconventional hydrocarbon extraction in terms of bagging OFS business, but Hunting is not a one tricky pony. The industry can aim for much more than just that, especially offshore deepwater plays. While unconventional is facing some clouds on the horizon, international and Gulf of Mexico deepwater plays are coming back.”

Managing a cyclical business

Cycles make margin management trickier but Johnson always keeps a strict eye on them. “That’s because people often do dumb things when they get desperate seeing sales volumes fall off during cycles. We believe in getting paid for what’s fair in terms of what we do for the customer. Operating climate might be tight, but we bring a certain quality, level of service and assurance to the table – so there’s a price below which we will not go just to get some desperate slice of the business.”

Any slowdown in Hunting’s mature Western businesses often gets “balanced out” by its expansion in the East, particularly in Middle East and Southeast Asia, and it all once bottled down to holding firm during 2015-16 downturn.

“We take a long-term view of our business but the downturn in 2015-16 really tested our resolve. Relationships between vendor and customers deteriorated to levels I have not seen before, despite having been in the industry for over 30 years. But we did not reduce our sales or engineering headcount, fully knowing we are in a cyclical business.”

So when the price climate improved and the oil price returned above $50 per barrel, sparking a revival of E&P projects, Hunting was in a prime position to market and sell its OFS products suite quicker to prospective clients. Its portfolio of perforated gun systems offers a case in point.

To the uninitiated, perforating guns carry explosive shaped charges down-hole, where they are subsequently detonated to create tunnels that act as conduits through which hydrocarbons flow up from the reservoir into the well-bore and up to the surface.

“While the downturn was in full swing, we were working on our patented Titan H-1 Perforating Gun system, readying it for sales and marketing. When the economic headwinds subsided, we went about selling it aggressively a mere 18 months ago to bag what I view as a commanding market-leading share for an independent OFS firm offering such a product.”

Hunting Plc’s three business segments, i.e. well construction, well completion and well intervention, are��on a “firm footing,” says Johnson. 

Daniel Jones, 2019

Hunting’s headline business remains solid and Johnson says the market share for the Titan product stream will remain broadly same over the next few fiscal years. “Nature of competition has not changed. We work hard to maintain that number one position in the independent perforating gun side of the business.”

Overall, its three business segments, i.e. well construction, well completion and well intervention, are on a “firm footing.”

So confident is the company of immediate prospects that it has upped its dividend by a token 1 cent (or shall we 25%) to 5 cents, leading some in the market to view Hunting as an income stock again, in just a matter of years after it eliminated the dividend during the industry downturn. But what does the CEO think?

“I leave that kind of chatter to external commentators. We haven’t come out with a progressive dividend policy but our goal is, and will remain, to increase it. The Hunting family (which owns close to 16% of the business) and large shareholders have been very supportive of our long-term objectives.”

Not going backwards

Johnson says Hunting – which has a colorful history of being involved in a plethora of sectors from defense to airlines since its founding by Charles Hunting in 1874 – is not going backwards and will play to its core strengths.

The first wave of transformation came at the end of the Cold War. “Prior to that was the age of conglomerates. The world changed and so did we. Our bet on the future was energy as the big macroeconomic trend, and it was a good move.”

The modern era transformation came 10 years ago when Hunting grasped energy sector trends further. “Our initial OFS business foothold was in Oil Country Tubular Goods (OCTG) related products for E&P companies in the North Sea. In line with natural business diversification, and while noticing changes in deepwater exploration, we bought a subsea equipment company, advanced manufacturing outfits, and the biggest transformation occurred in buying Titan.”

Hunting’s most recent acquisition came in August via a $12.5 million cash acquisition of RTI Energy Systems Inc; a manufacturer of production riser technologies for deepwater applications within the offshore oil and gas industry.

Johnson describes the move as a “steal” at the price the company paid. “It is potentially a $85 million per year revenue and $10 million EBITA business. But we basically bought it for the price of the assets from an aerospace company that was looking to move on.”

Given Hunting has decent cash reserves, what would be its next ideal acquisition target? “The perfect company size-wise for us is probably a $40 million deal with a product suit that has proprietary technology and/or some geographic enhancements that we don’t have. It has to be something along the lines of well completion, subsea or maybe well intervention business model. We won’t venture out into a service stream that is totally new, for example artificial lifts.”

“The energy industry raises people’s standard of living and the upside is unbelievable,” Johnson says.

Hunting Plc

But Hunting does have non-energy plays too. For instance, its a recent strategic tie-up with India’s Jindal Steel. “Out of Maine, U.S. we make jet engine shafts for GE. Elon Musk is a customer via SpaceX and our electronics outfit in Houston has medical clients. However, over 90% of our business comes from the energy sector; that mix will not materially change over the longer-term.”

The energy industry raises people’s standard of living and the upside is unbelievable which cannot be all provided by a windmill, Johnson adds.

And the Hunting CEO has no time for peak oil theorists either. “I have spent most of my professional life sitting in the offices of oil and gas companies and know a thing or two about E&P activity versus supply and demand. My take is – tell me the price of oil and I’ll tell you how much oil there is! If the price is at $30 there’s only as much exploration happening around, price hits $100 and suddenly there’s a whole lot more exploration!”

Selling is an art and science rolled into one

Barring a four-year stint in Aberdeen, U.K., much of Western Pennsylvania-born Johnson’s professional life has been in Texas, and more specifically in America’s oil and gas capital of Houston, where he first moved to in 1988.

“Having a sales background teaches you to be close to customers, providing the right answers and solutions to their questions and problems. It is what I do to this day – sales – an art and science rolled into one. But you have to switch-off on occasion, decompress, and get ready for the next challenge. Gardening, watching football, the odd baseball game and most especially spending time with my wife, two kids and four grandkids help me do just that.”

That next emerging challenge for the OFS business is the oil and gas industry’s craving for further efficiencies and enhanced oil recovery (EOR). “These are positive developments in the wake of the 2015-16 downturn. We are well positioned to help customers reduce drilling times and costs, and often partner on research and development costs.

“EOR is good for our Titan business, because E&P companies are going to have to go back needing perforating guns and re-stimulate reservoirs where our well intervention business is eyeing opportunities. We are ready for the good times. However, knowing it is cyclical business, we’re well geared and prepared for the bad times too.”

#News

[dsiddhant]

The subsea systems market is expected to grow from an estimated USD 15.78 Billion in 2016 to USD 17.44 Billion by 2021, at a CAGR of 2.02% during the forecast period. Despite steep revenue declines 2015 onwards, the global market is set to witness growth after 2018 due to the increasing production from deepwater fields. Offshore exploration and production investments in Africa and Asia-Pacific region will also boost the market growth.

Browse 69 market data tables and 49 figures spread through 159 pages and in-depth TOC on “Subsea Systems Market - Global Forecast to 2021”

View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/subsea-production-processing-systems-market-938.html

Subsea Production: The largest segment by type

The subsea systems market has been broadly classified on the basis of type into production system and processing system. Subsea production system segment accounted for the largest share of the market in 2015, while subsea processing system segment is projected to grow at a faster pace among the two segments. Subsea production will witness demand from continuing deepwater activities in Africa, the U.S. Gulf of Mexico, and South America. The subsea processing system market will be driven by the need for improving recovery rates in shallow water fields, particularly across the North Sea.

SURF: Biggest market by subsea production technology

Subsea Umbilicals Risers and Flowlines (SURF) are important equipment in subsea production systems. Umbilical system is a bundled arrangement of piping, tubing, and electrical conductors which are bounded in armored sheath. The primary application of umbilical is to transmit control fluids. It is also used to monitor pressures and inject fluids. The rising focus on deepwater drilling is the major driver for the SURF market. Moreover, the oil discoveries in emerging economies, especially in Africa, provide further positive contributions to the subsea systems market.

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Europe: The largest market for subsea systems

The European region was the largest estimated market for subsea systems in 2015, driven largely by the developments in Norway and the U.K. These developments took place due to policy changes by governments to increase the production. Moreover, the offshore oil reserves in the U.K. and Norway provide attractive business opportunities for major oil operators to invest which will further drive the subsea systems market.

Some of the top players in the subsea systems market include Subsea 7 (U.K.), FMC Technologies (U.S.), GE Oil & Gas (U.S.), Aker Solutions (Norway), One Subsea (U.S.), Technip (France), Dril-Quip, Inc. (U.S.), and Kongsberg Oil & Gas Technologies (Norway).

[priyanka16me]

Global Underwater Monitoring System for Oil and Gas Market: Strict Safety Regulatory Inspiring Adoption 2017 – 2025

A recent study by Transparency Market Research (TMR) suggests that in the global oil and gas sector, the underwater monitoring system market is undeniable, though the presence of a vast number of regional and country-wide vendors is keeping the competitive landscape distributed. The TMR report identifies Kongsberg Maritime, SONARDYNE, Schlumberger-OneSubea, Teledyne Marine, DSPComm, Fugro, Ocean Sonics, Mitcham Industries, and KCF Technologies as some of the key participants of the global underwater monitoring system for oil and gas market.

As per the projections of the report, the demand in the global underwater monitoring system for oil and gas market will multiply at an impressive CAGR of 6.43% during the forecast period of 2017 to 2025. The report has evaluated that the underwater monitoring system market in the oil and gas sector was worth merely US$680.0 mn in 2016, and estimates it to accumulate a valuation of US$1881.3 mn by the end of the forecast period, i.e. 2025.

It has been detected by the report that based on the type of subsea sensor, the global underwater monitoring system for oil and gas market gains maximum demand for pressure sensors and riser technology, whereas on the basis of monitoring systems, the market for acoustic sensor category is most prominent. Among the wireless sensors networks, SCADA contributed almost two-third of the demand in 2016, while frequency division multiple access (FDMA) was most in-demand communication method. Geographically, Asia Pacific leads the demand among all regions, although North America and Europe are also sustaining a strong demand-flow.

Increased Offshore Explorations Driving Demand

For an offshore oil and gas operation, underwater monitoring systems are essential, constantly monitoring and ensuring the integrity of offshore or subsea installation. The use of these systems improves safety of the operation. Underwater monitoring systems is culmination of various sensors, equipment, and technologies, which gather the real time data and make it available for fast paced decision making. This is a key process in a high risk and complex environment that oil and gas industry operates under.

It has been observed that most of the existing oil reserves have approached a stage of maturity. Consequently, there is a need to locate, explore, and develop new oil reserves, which is also expected to boost the market for underwater monitoring system for oil and gas market. In addition to that, recent technological advancement has made the deep offshore reserves to be developed economically and safely. The increased number of offshore activity indicate better opportunity for underwater monitoring systems for oil and gas market. In the oil and gas industry, the underwater monitoring systems has wide range of applications in various activities right from exploration, pre installation survey/baseline studies, construction & installation to drilling, production, decommissioning and others. Subsea structure monitoring, asset integrity monitoring, underwater pipeline integrity monitoring are some of the key applications of underwater monitoring system for oil and gas market.

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Environmental Concerns Opening New Opportunities

According to the author of the report, strict regulatory norms of safety increased environmental concerns are opening new opportunities for the vendors operating in the global underwater monitoring system for oil and gas market. The underwater monitoring system provides real time data about health of subsea oil and gas production installations, underwater pipeline integrity, and rig infrastructure. This real time data enhances the ability of quick and better decision making which further prevents any potential of failure of system.

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