DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/5rgch3/global_subsea) has announced the addition of the "Global Subsea Processing Market 2014-2018" report to their offering.
The Global Subsea Processing market to grow at a CAGR of 18.5% over the period 2013-2018
Subsea processing can play a significant role in increasing production and reduce costs involved with oil recovery. Subsea processing comprises a range of technologies to allow production from offshore wells instead of host facilities and also handling the produced fluids upstream of surface facilities. The key benefits of using such technologies include enhanced oil and gas recovery, reduced platform operating cost, less gas hydrate formation in flow-lines, increase in NPV, and production boosting.
One major trend in the market is the rapid advances in technology. Market players are investing huge amounts of funds to enhance oil and gas production. These technological advances include unlocking the potential of processing in harsh temperatures and pressures, boosting techniques through advanced booster pumps, gas injection for increased recovery, and the development of separation methods to separate oil at the production facility instead of separating it at the hub.
According to the report, one of the main drivers in this market is the increase in the utilization of oil and gas across the world. As a result of increased utilization, governments worldwide are focusing on subsea processing technologies to increase their overall production. It is expected to propel the growth of the market during the forecast period.
Further, the report states that one of the major challenges confronting the market is the uncertainty associated with subsea production. Subsea processing requires a high level of technical expertise and any failure in the system may lead to revenue loss.
The Global Subsea Processing market can be segmented into four divisions:
- Boosting
- Compression
- Separation
- Injection
Key Vendors
- Aker Solutions
- Cameron
- FMC Technologies
- GE Energy
For more information visit http://www.researchandmarkets.com/research/5rgch3/global_subsea
