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Development of Offshore Hydrocarbon Reserves to Drive Global Subsea Manifolds Market

Article Description

Subsea refers to equipment, technology, and approaches used in areas of marine biology, offshore oil and gas explorations, offshore wind power, undersea
geology, and underwater mining. Subsea manifold systems refer to apparatus designed to prolong the life of existing oilfields, boost oil recovery from
deepwater basins, and reduce capital and operational costs.

Subsea manifold systems are an essential component of the total subsea infrastructure. Subsea manifold systems plug in oil and gas reservoirs to several
onshore storage repositories. Subsea technologies are planned taking into consideration the unfavorable operating conditions in deepwater regions and can
be custom-made as per each region’s soil properties.

Moreover, subsea manifolds enable operators to connect to prospective subsea wells efficiently and minimize production loss in situations of deficient use
of equipment. In offshore basins, operating companies can plant manifolds with dual header as per their needs.

Improved Oil Recovery Techniques to Fuel Subsea Manifolds Market

In the recent past, discovery of high concentrations of hydrocarbon reserves in deepwater regions and technological advancements have led oil and gas
exploration companies to progressively employ subsea technologies to develop offshore hydrocarbon reserves, which is one of the key drivers of the subsea manifolds market.

Owing to high production levels, companies operating in oil and gas exploration are considering subsea technologies as a lucrative opportunity to
capitalize on. Investors in oil and gas exploration companies are concentrating on improved oil recovery methods that employ advanced subsea manifolds
systems. Such moves have given thrust to the subsea manifolds market.

Moreover, subsea operating systems efficiently manage fluids produced on sea beds, thus saving human effort and time considerably. The need to develop
fully functional subsea operating systems as a cost-effective solution for oil manufacturers is a major growth driver of the global subsea manifolds
market.

The subsea manifolds market is segmented into two broad categories as per application, namely injection manifolds and production manifolds. The number and
type of manifolds installed for a subsea processing system is dependent on the reservoir’s characteristics and configuration of the system.

In terms of installation, the production manifolds segment ranks as the largest application segment of the subsea manifolds market. Increased investment in
improved oil recovery methods by oil exploration companies have led to huge investment in the injection manifolds market.

Deepwater Exploration Projects to Boost North America Subsea Manifolds Market

Geography wise, the global subsea manifolds market is segmented into North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa. In
2013, Europe dominated the market in terms of state and private expenditure on subsea manifolds systems. Several aging oil reserves spread across Europe,
particularly in the North Sea and explored by countries such as the U.K. and Norway, are attracting high investment and thus boosting the subsea manifolds
market.

In North America, the subsea manifolds market will benefit from deepwater explorations planned in the Gulf of Mexico. Several offshore activities in
California and the Gulf of Mexico are anticipated to attract investments and thus boost growth prospects of the overall subsea manifolds market.

Key market participants in the subsea manifolds market are Aker Solutions ASA, OneSubsea, FMC Technologies, Inc., and General Electric. Worldwide,
manufacturers are working to design and develop futuristic subsea production systems that will become the future of the oil and gas industry.

Browse the full Global Subsea Manifolds Market report at http://www.mrrse.com/subsea-manifolds-market