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Global Subsea Manifolds Market Set to Expand Strongly due to Offshore Hydrocarbon Discoveries

Blog Description

Subsea manifold systems are devices designed to lengthen the lifespan of existing oilfields, to expand oil recovery in deep-water reservoirs, and decrease the operating costs in the production fields. Subsea manifold systems are a major part of the total subsea infrastructure. They connect gas and oil production wells to numerous on-shore storage facilities. Subsea manifold systems are specially designed based on the particular soil properties and seabed conditions in the location of the oilfield. The global subsea manifolds market is estimated at US$2,540.01 billion in 2014 and is growing at a 5.60% CAGR. It is predicted to reach US$3,716.42 million by 2020.

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The most prominent driver of the subsea manifolds market is the increasing number of hydrocarbon reserve discoveries in deep-water offshore areas. The investment put into research and development activities is a key factor that supports the manufacturing companies in the subsea manifolds market for securing supply contracts from the companies operating in hydrocarbon exploration. Significant diminution in capital expenditure could be attained by the introduction of subsea manifolds. These instruments reduce the quantity of umbilical and flow lines required in offshore production exercises.

Advantages and Application Areas:

· Subsea technologies are structured keeping in mind the severe operating conditions in deep-water areas and can easily be customized according to the soil properties.

· Production manifolds are utilized to transmit the produced fluids beginning at two or more than two subsea production wells inside one or more flow lines.

· Injection manifolds can be constructed to control different types of fluids, commonly water, water-alternating-gas or gas, and can be modeled to expedite any field’s superior recovery strategy.

· The production manifolds in cluster style play a major part in isolation, well testing, allocation management, and sampling.

· With development in technology, gas and oil operators are consistently making use of subsea technologies for the advancement of the offshore hydrocarbon reserves and by doing so have substantially contributed to the subsea manifolds installations.

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· Operators can connect to future subsea tie-back/wells in a proficient manner and decrease the loss in production due to inadequate function of the equipment.

Exploration companies functional in offshore areas of West Africa and Brazil are expected to be the key consumers of subsea manifolds in the forecast horizon. Additionally, numerous deep-water projects are designed in the Gulf of Mexico, which would significantly raise the demand for subsea manifolds in North America.

Key companies in the global subsea manifolds market are FMC Technologies, Inc., Aker Solutions ASA, One Subsea, and General Electric. Among these, Aker Solutions is a major player with specialization in subsea production and processing systems. Aker Solutions’ recent union with Baker Hughes, which has competency in artificial-lift technology and well completions for subsea production solutions, will present steadfast results and lengthen the life of subsea fields.