Oil & Gas Subsea Umbilicals, Risers, and Flowlines: Market Overview
Offshore oil extraction activities have been increasing since the last few years. The major oil companies and its contractors have been banking on the low crude oil prices. Strategic oil storage is one of the major reasons to undertake offshore oil and gas projects despite the fluctuation in crude oil prices.
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The reserves from onshore fields and shallow water wells are in almost depletion state. Hence, exploration and production companies are focusing on deeper water prospects. New platforms are being unceasingly installed in different parts of the world and operate in deeper waters (300m to 3,050 m). The safe and efficient interconnection from the topside of the platform /vessels to well heads and pumps on the seafloor is necessary to transfer products, power, and data. Hydraulic and other fluids are also transferred from one platform to another in same or different reservoir blocks to guarantee reliable oil extraction operations.
Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market: Dynamics and Trends
Electric power is locally generated and distributed to various appliances, platforms, and onshore sites in order to lower the overall operational costs of oil and gas exploration and production projects. Broadband communication systems play an important role in modern communication and process control systems. Subsea risers, umbilicals, and flowlines form a vital link between multiple centers of operation within the field of exploration and production. These SURF can withstand high mechanical and chemical stresses, and high operating temperatures and pressures. They ensure continuous and reliable supply of services in harsh environments below the sea.
Subsea umbilicals are designed to suit static and dynamic applications in water depths of up to 2,500 meters. They are composed of a combination of hydraulic lines (thermoplastic hoses or steel alloy tubes), low-voltage electrical control cables, medium-voltage power transmission cores, and optical signal components.
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Subsea line pipes (flowlines) can withstand extreme environments, and offer high tubing performance, enhanced weldability, and high resistance to corrosion. Thermoplastic composite pipes (TCP) or flexible pipes, risers, and spools commonly cope with challenging conditions such as extreme water depth, sour service, and high pressures. TCP-made jumpers, risers, flowlines, and spools have the capability to reduce the cost of transportation and installation of seam/seamless rigid metal pipes by more than half. TCP also has low weight, excellent fatigue performance, and sour service capability.
Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market Segmentation
In terms of water depth, the oil & gas subsea umbilicals, risers, and flowlines market can be segmented into shallow, deep, and ultra-deep. Based on subsea connection, the market can be divided into manifold, subsea tee, pipe, pumps, and others. In terms of topside connection, the market can be segregated into jacket leg (fixed platform), FPSO, TLP, spar platform, onshore platform, and others. Based on region, the global oil & gas subsea umbilicals, risers, and flowlines market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
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Oil & Gas Subsea Umbilicals, Risers, and Flowlines Market: Key Players
Key players operating in the global oil & gas subsea umbilicals, risers, and flowlines market include Airborne Oil and Gas, VALLOUREC, Schlumberger, Prysmian Group, and Baker & Hughes.