Floating Production Systems (FPS) Market will touch a new level in upcoming year – Key Players involved in the research like Anadarko Petroleum Corporation, BW Offshore, MODEC, Inc., Petrobras, SBM Offshore

Offshore regions are one of the major sources for oil and gas production as the reserves in the offshore segment, which are estimated to be vast, largely remain unexplored. Therefore, the need to meet this increase in fuel demand is spurring major oil and gas companies to invest in E&P projects. The need to meet the increase in demand for energy for both export and domestic consumption in the region is driving the growth of offshore oil and gas activities, which, in turn; will support the growth of the FPS market in Americas during the forecast period. Our analysts have predicted that the floating production systems (FPS) market in Americas will register a CAGR of almost 7% by 2023.

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Market Overview

Advantages associated with the deployment of FPS

Floating production systems are effective solutions in subsea, deepwater, and ultra-deepwater E&P activities as they eliminate the need for additional infrastructure in these offshore environments, which can be expensive. FPS offer an economical option in offshore drilling activities, especially in small oil fields that will face depletion within a few years.

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Environmental issues arising from offshore oil and gas drilling

Offshore oil and gas drilling activities generally have an impact on the entire marine ecosystem. The major threats of environmental issues in the offshore drilling environment include the leak of drilling fluids, leaks from pipelines, spillage, and blowouts. Hence, offshore oil and gas drilling operations pose a significant threat to the environment as well as to the health and safety of the workers.

Competitive Landscape

The market appears to be moderately fragmented and with the presence of several vendors. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.

The key manufacturers covered in this report

Anadarko Petroleum Corporation
BW Offshore
MODEC, Inc.
Petrobras
SBM Offshore

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