Subsea Processing Systems Market - Current Scenario and Forecast 2018-2022

MRC Announces the Publication of its Research Report – Global Subsea Processing System Market 2018-2022

MRC recognizes the following companies as the key players in the global subsea processing system market: Aker Solutions, GENERAL ELECTRIC, National Oilwell Varco, Schlumberger, and TechnipFMC.

Other Prominent Vendors in the market are: Forum Energy Technologies, ITT, Halliburton, Leistritz Advanced Technologies, MAN, Saipem, Siemens, SPX FLOW, SUBSEA 7, and Weatherford.

Commenting on the report, an analyst from MRC’s team said: “One trend in the market is ERD Technologies. The use of extended reach drilling (ERD) technology in the current oil and gas scenario is not economically feasible. However, the real situation is quite the opposite, as using this technology is about the economics and the demanding market conditions. In the last two years of low crude oil prices, operators have adopted these technologies, which has made the overall project commercially viable. This is because the benefits from this technology are for the long-term projects.”

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According to the report, one driver in the market is growth in the number of deep and ultra-deepwater drilling projects. Deep and ultra-giggp,projects have gradually started resuming operations with the gradual stabilization of the crude oil prices. The growing focus of oil majors on operational improvements has resulted in a reduction in the CAPEX and OPEX, which, in turn, has reduced the breakeven value for crude oil production. This translates into the oil companies better sustaining in the market at the current oil price of around $56/01 as of September 2017.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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