Subsea developments key to future production

The introduction of subsea technologies and their proven application in offshore regions has led to significant advancements in the upstream industry. The utilization rate of global subsea-tree manufacturers is expected to increase to 63% to 2014, and globally Infield believes that the current capacity for contractors is the supply of around 715 trees per annum. Another leading industry authority, Quest Offshore, reports that estimated subsea capex in 2015 will be close to $20 billion worldwide compared to around $ 7.5 billion in the year 2009. Quest forecasts 2,980 subsea trees between 2010 and 2014 in total, with a basecase figure of more than 300 by the end of the year 2010. The innovative technologies being implemented or proposed for projects and many other solutions being considered or tested within the industry including pipe separators, compact separation units, and subsea compression ensures the growth of subsea market in future.