(1888PressRelease)
July 21, 2006 - Subsea processing is poised to grow into an important new business sector. “Subsea processing is a true ‘gamechanger’ technology, in that by separating or pressure-boosting wellfluids on the seabed it has the potential to massively reduce expenditure on offshore platforms. The logical extension is that in some situations it may be possible to remove the requirement for the offshore platform completely. Subsea processing also presents exciting new opportunities for enhancing production and recoverable reserves.
90 per cent of operators want to install
“The most surprising aspect of our study is a complete reversal of Operator opinion” said Dudgeon. Only three years ago just 10 per cent of operators interviewed had plans to install subsea processing, but in our new survey 90 per cent expressed a view that they would like to install over the next five years.
“There is now a narrower interpretation of the benefits of subsea processing. Two years ago, it was considered a cure-all for a wide range of challenges such as deepwater, long tiebacks, restricted topsides etc. Now, it’s mainly being considered for reducing platform topsides. Operators have developed a realistic approach to where they want to use it and this means that suppliers can begin to make the right sort of equipment. The first generation of subsea processing concepts are being reinterpreted and developed into new products, installed subsea pumps are performing well and reliably and in the last few years there has been a global uptake of subsea processing.
“Questioned about what has been holding back deployment of the technology, surveyed operators emphasised “operator mindset” and perceptions of cost.
In 2000, less than 10% of the people interviewed expected to install subsea processing within five years. In 2003, this had changed to more than 75% , and more than 91% within the next ten years.It now appears that the tipping point has been reached where the number of subsea processing units installed will begin to increase rapidly.
Over the period to 2012, $1.6 billion is likely to be spent on 86 subsea processing systems, which in the most favourable conditions could increase to $3.5 billion and over 200 systems. Operator opinion has completely reversed over the past three years and now 90% have plans to install.
The Subsea Processing Gamechanger Report is the first in a new series of reports that will examine the commercial prospects for technologies that show early potential to make a major impact on industries.
The report describes what is driving the interest in subsea processing, the technologies of subsea boosting and separation, control & monitoring and power, installation, intervention and system modularity and case studies. Results of a survey of operators' opinions on subsea processing are reported.
Forecasts of the subsea processing market between 2003-2012 are presented by component and region: in high, most likely and low oil price scenarios.
For more information regarding this report, please visit
http://www.bharatbook.com/detail.asp?id=5610
Email : info ( @ ) bharatbook dot com
