Published By : 14 Dec 2015 | Published By : QYRESEARCH
In a major breakthrough in the utilization of subsea technologies, Statoil and Resold, world’s two leading energy companies that are involved in oil and gas production have announced joint transactions in Norway, the U.S. the U.K., and Brazil. With the undertaking coming into effect, Statoil’s operatorship in priority areas gets a boost, with the company receiving higher authority of asset development and costs via shared orders.
In the bid to enhance the production of subsea oil and gas reservoirs, subsea pumping has been the one of the most sought-after technique amongst the several newer techniques used for the purpose. The advantage of subsea pumps lies in making low-pressure oilfields usable by boosting their production output. The use of this technology helps extend the life of existent Brownfield reservoirs for oil and gas.
The evolution of the subsea pumps market is highly dependent on how fast offshore hydrocarbon reserves are developed across the globe. Since offshore projects involve high development and production costs, offshore operators tend to employ equipment that would optimize production level at economical prices. Worldwide, subsea pumps are utilized by large exploration and production companies that have the technical expertise and advanced equipment to tap the oil and gas reservoirs for best output.
With the consistent advancement of subsea technologies and an increasing number of projects that utilize the same, the subsea pumps market will be treading a positive growth in the foreseeable years. The improvement in production economics is slated to be the foremost advantage of subsea technologies, as the use of the technology helps propel flow rate oil and gas reservoirs and also optimize the production cycle of these reservoirs. Offshore hydrocarbon reserves that employ subsea technologies, water is gushed through subsea pumps into wells that have low reservoir level, thereby boosting output.
Currently, subsea pumps are installed in a large number of offshore areas across the world, namely Brazil, the North Sea, deep waters of West Africa, and the Gulf of Mexico. With the quest for recoverable oil and gas reserves extending towards deepwater and ultra-deepwater reservoir areas, in the future, subsea pumping and its associated technologies will be benefitted.