Global Subsea Umbilicals, Risers, and Flowlines (SURF) Market Insights & Depth Analysis
Production of oil &
gas from the known, old, and mature fields has started declining. As
a result, companies are now seeking newer fields. These fields are
located in deeper waters as compared to the mature fields. They are
situated in the less explored locations of the world such as Latin
America, West Africa, and the North Sea. SURF is primarily employed
in these deep offshore fields. SURF helps connect the surface systems
and subsea production. In line with this objective, SURF can be
divided into two parts: umbilicals, and risers and flowlines.
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Umbilical is the
connective medium between the surface equipment and subsea equipment.
The Umbilical Termination Structure (UTS) facilitates transportation
of services such as electric power, chemicals, telecommunications,
and instructions to various subsea equipment. These services reach
the various subsea equipment through flying leads, which are
basically common extension cords. Umbilicals are designed for static
as well as dynamic applications; demand for the latter has been
rising due to the increase in depth of fields. The raw material or
composition of the cable also changes as per project requirement.
Cables are available in the form of hoses, steel tubes, power and
optical umbilicals, and composite umbilicals. Demand for steel tubes
is rising due to their enhanced response times and ability to handle
higher pressures.
Flowlines are used
to transport unprocessed fluids from the subsea well to the riser
pipeline. They are sometimes considered part of a larger pipeline
network consisting of flowlines, riser, extension cords, and other
pipes. However, flowlines retain distinctive characteristics
primarily owing to their function of being the import line or
production line for unprocessed fluids. Risers are used to connect
flowlines back to the surface facility. These set of pipelines are
available in various diameters, ranging from under one inch to more
than 10 inches. This partly depends upon the depth of the offshore
fields and the consequent pressure the pipes are subjected to.
Another important
categorization for the SURF market is the depth of the offshore
field. This includes shallow water, deep water, and ultra-deep water,
depending upon the location of the offshore field. Demand for deep
water and ultra-deep water SURF has been increasing due to the
depletion of mature fields. Development of complex oil & gas
processing equipment such as Floating Production Storage and
Offloading (FPSO) units and Floating Production Units (FPU) has also
enabled the development of deep water fields. This has been boosting
the deep water and ultra-deep water segment.
Consistent increase
in demand for oil & gas across the world is expected to continue
driving the demand for SURF. However, demand for gas is likely to
rise faster as compared to that for oil in the near future. On the
other hand, demand for various other chemicals is anticipated to stay
constant in the next few years. The SURF market is estimated to
largely follow the trend of demand for oil & gas across the
globe. Demand for oil & gas is largely dependent upon the
economic growth of countries; thus, the market for SURF is also
directly affected by this dynamic.
In terms of region,
market share of several new areas such as South America, the Gulf of
Mexico, and Africa is projected to rise in the near future. Prominent
companies operating in the SURF market include TechnipFMC, Aker
Solutions, Saipem SpA, Subsea 7, and ABB.
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