Forecast Period | 2025-2029 |
Market Size (2023) | USD 10.6 Billion |
Market Size (2029) | USD 22.87 Billion |
CAGR (2024-2029) | 13.5% |
Fastest Growing Segment | Drilling Risers |
Largest Market | North America |
Market Overview
Global Subsea Risers Market was valued
at USD 10.6 Billion in 2023 and is anticipated to project robust growth in the
forecast period with a CAGR of 13.5% through 2029. The global subsea risers
market is experiencing significant growth driven by expanding offshore oil and
gas exploration and production activities. Subsea risers play a crucial role in
connecting subsea wells to floating production platforms or to onshore
facilities, enabling the extraction of hydrocarbons from deepwater reservoirs.
With the depletion of shallow-water reserves, there has been a notable shift
towards deepwater and ultra-deepwater exploration, where subsea risers are
essential for transporting oil and gas from the seabed to processing facilities
efficiently. Technological advancements in riser design, such as flexible
risers and steel catenary risers, have enhanced their reliability and
operational capabilities in challenging offshore environments. Moreover,
increasing investments in offshore energy projects, particularly in regions
like the Gulf of Mexico, North Sea, and Brazil's pre-salt fields, are driving
demand for subsea risers. These investments are supported by ongoing
advancements in subsea engineering, materials science, and digitalization,
which are optimizing riser performance and reducing operational risks. As the
global energy industry continues to explore deeper and more remote offshore
reserves, the subsea risers market is poised for continued growth, offering
opportunities for innovation and efficiency in offshore hydrocarbon extraction.
Key Market Drivers
Increasing Offshore Oil and Gas
Exploration
The global subsea risers market is
driven primarily by the increasing offshore oil and gas exploration activities
worldwide. As traditional onshore reserves become more challenging to access,
there has been a significant shift towards offshore exploration, particularly
in deepwater and ultra-deepwater environments. Subsea risers are critical
components that connect subsea wells to floating production platforms or to
onshore facilities, enabling the extraction of hydrocarbons from seabed
reservoirs located thousands of feet below the ocean surface. Technological
advancements in drilling techniques, such as enhanced well completion methods
and subsea infrastructure, have facilitated the development of these
challenging offshore fields.
Offshore reserves often offer larger and
more prolific hydrocarbon discoveries compared to onshore fields, making them
attractive investment targets for oil and gas companies seeking to replenish
their reserves and sustain production levels. The deployment of advanced subsea
riser systems, including flexible risers, steel catenary risers (SCRs), and
hybrid risers, has enabled efficient hydrocarbon production in deepwater
environments where harsh sea conditions and extreme pressures pose operational
challenges. These riser systems are engineered to withstand environmental
factors such as strong currents, corrosive seawater, and seabed movements,
ensuring reliable and safe operations.
As energy demand continues to grow
globally, particularly in emerging economies, offshore oil and gas exploration
is expected to expand further, driving sustained demand for subsea risers.
Regions such as the Gulf of Mexico, North Sea, Brazilian pre-salt fields, and
offshore West Africa are witnessing significant investments in exploration and
development projects, underscoring the critical role of subsea risers in
unlocking offshore hydrocarbon reserves and supporting energy security.
Technological Advancements in Riser
Design
Technological advancements in subsea
riser design and engineering represent a key driver shaping the global subsea
risers market. Innovations in materials science, manufacturing techniques, and
digitalization have significantly enhanced the performance, reliability, and
operational efficiency of subsea risers in offshore environments. Flexible
risers, for instance, utilize advanced composite materials and flexible
components that can accommodate dynamic movements and maintain structural
integrity under varying sea conditions.
Developments in buoyancy modules,
connectors, and monitoring systems have improved riser installation processes
and operational safety, reducing downtime and maintenance costs for offshore
operators. Steel catenary risers (SCRs) and hybrid risers, which combine
elements of rigid and flexible designs, offer enhanced stability and flow
assurance in ultra-deepwater applications, where traditional riser technologies
may face limitations. Digitalization and the adoption of smart technologies are
transforming subsea riser operations through real-time data monitoring,
predictive maintenance, and condition-based monitoring systems. Integrated data
analytics platforms enable proactive decision-making and asset management
strategies, optimizing riser performance and maximizing operational uptime.
Advancements in subsea
engineering, such as riser fatigue analysis and computational fluid dynamics
(CFD) simulations, enable more accurate modeling of riser behavior under
complex environmental conditions. This capability allows engineers to design
riser systems that mitigate risks associated with fatigue, vortex-induced
vibrations (VIV), and hydrodynamic loads, ensuring long-term reliability and
integrity in offshore operations. As oil and gas companies continue to push the
boundaries of deepwater exploration, technological innovations in subsea riser
design are expected to play a pivotal role in reducing costs, enhancing safety,
and improving overall project economics. The ongoing pursuit of advanced
engineering solutions and digital innovations positions the global subsea
risers market for continued growth and adaptation to evolving offshore
challenges.
Increasing Demand for Subsea Tiebacks
The global subsea risers market is also
driven by the increasing adoption of subsea tieback systems in offshore oil and
gas developments. Subsea tiebacks involve connecting new subsea wells to
existing infrastructure, such as production platforms or processing facilities,
using subsea risers and flowlines. This approach allows operators to leverage
existing infrastructure and extend the productive life of offshore fields
economically. Subsea tiebacks are particularly advantageous in marginal fields
or remote locations where standalone production platforms would be economically
unfeasible. They enable operators to exploit smaller reservoirs efficiently by
transporting hydrocarbons over long distances to centralized processing
facilities, reducing operational costs and minimizing environmental footprint.
The flexibility of subsea tieback systems, enabled by advanced subsea riser
technology, allows for the development of satellite fields and incremental
production enhancements without the need for significant new infrastructure
investments.
Advancements in subsea
processing technologies, such as subsea boosting and compression systems, have
further enhanced the viability and attractiveness of subsea tieback projects.
These technologies improve flow assurance, optimize production rates, and
extend the reach of subsea developments, driving demand for reliable and
efficient subsea riser solutions. As offshore operators seek to maximize asset
utilization and increase recovery rates from mature fields, subsea tieback
projects are expected to grow in prominence. Regions with significant offshore
oil and gas reserves, including the North Sea, Gulf of Mexico, and Southeast
Asia, are witnessing increased investments in subsea tieback developments,
underscoring the pivotal role of subsea risers in enabling cost-effective and
sustainable offshore production strategies.
Regulatory Support and Environmental
Considerations
Regulatory support and environmental
considerations are becoming increasingly influential drivers in the global
subsea risers market. Governments and regulatory bodies are implementing
stringent environmental regulations aimed at minimizing the impact of offshore
oil and gas activities on marine ecosystems and coastal communities. Subsea
risers play a crucial role in enabling operators to comply with these
regulations by facilitating safe and efficient hydrocarbon production and
transport in environmentally sensitive areas. Additionally, advancements in
subsea riser technology, such as improved materials and coatings for corrosion
resistance, enhance environmental stewardship by minimizing the risk of leaks
and spills during offshore operations. Operators are increasingly adopting best
practices in subsea riser design and installation to mitigate environmental
risks and ensure sustainable development of offshore resources.
Regulatory incentives and frameworks
that promote offshore exploration and production in compliance with
environmental standards are driving investments in advanced subsea riser
solutions. These incentives encourage operators to adopt innovative technologies
and operational practices that reduce environmental footprint while enhancing
operational efficiency and safety.
As the global focus on environmental
sustainability intensifies, subsea risers equipped with state-of-the-art
monitoring and control systems are becoming essential components of responsible
offshore development strategies. The integration of environmental
considerations into subsea riser design and operation positions the market for
continued growth and adaptation to evolving regulatory landscapes globally.
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Key Market Challenges
Technological Complexity and Engineering
Challenges
One of the primary challenges facing the
Global Subsea Risers Market is the technological complexity and engineering
challenges associated with deepwater operations. Subsea risers play a critical
role in offshore oil and gas production, providing a conduit for transporting
hydrocarbons from the seabed to surface facilities. However, operating at
extreme depths poses significant technical challenges, including high
pressures, low temperatures, corrosive environments, and complex seabed
topographies. Designing and deploying subsea risers require advanced
engineering solutions to ensure reliability, safety, and operational efficiency
under harsh marine conditions. Engineers must address issues such as riser
fatigue, vortex-induced vibrations, thermal expansion, and seabed stability
while maintaining structural integrity and preventing environmental impacts.
Innovations in materials science, such as high-strength alloys and composite
materials, are crucial for enhancing riser performance and durability in challenging
subsea environments.
The complexity of subsea riser systems
increases with the development of deepwater and ultra-deepwater oil and gas
fields, where risers must withstand greater hydrostatic pressures and
geological complexities. Engineering solutions must balance technical feasibility,
cost-effectiveness, and environmental sustainability to mitigate risks and
optimize performance throughout the riser lifecycle. Addressing these
technological and engineering challenges requires collaboration among industry
stakeholders, including operators, engineering firms, equipment manufacturers,
and research institutions. Continuous research and development efforts are
essential to advance subsea riser technologies, improve operational
reliability, and meet evolving regulatory requirements for offshore energy
production.
Cost and Project Economics
Cost management and project economics
pose significant challenges for the Global Subsea Risers Market, particularly
amid fluctuating oil prices, regulatory uncertainties, and increasing project
complexity. Subsea riser systems constitute a significant portion of offshore
project expenditures, encompassing design, fabrication, installation,
maintenance, and decommissioning phases.
The initial capital investment for
subsea riser installations, including specialized equipment, vessels, and
infrastructure, can be substantial, particularly in deepwater and
ultra-deepwater projects. Moreover, operational costs associated with riser maintenance,
inspection, and repair contribute to overall project economics throughout the
asset lifecycle. Cost overruns and schedule delays are common challenges in
subsea riser projects, driven by technical complexities, logistical
constraints, and unforeseen geological conditions. To address cost challenges,
industry stakeholders focus on optimizing project planning, procurement
strategies, and operational efficiencies. Innovations in project management
methodologies, such as risk-based decision-making and lean manufacturing principles,
help mitigate cost uncertainties and improve project outcomes. Additionally,
leveraging advanced technologies, such as digital twins, predictive analytics,
and autonomous inspection systems, enhances asset performance monitoring and
maintenance optimization, thereby reducing lifecycle costs.
Collaborative partnerships
between operators, service providers, and financial institutions play a vital
role in developing innovative financing models and risk-sharing arrangements to
manage capital expenditures and improve project economics. Sustainable cost
reduction strategies, coupled with regulatory incentives and operational
excellence initiatives, are essential for enhancing competitiveness and
profitability in the Global Subsea Risers Market amidst evolving market
dynamics.
Environmental and Regulatory Compliance
Environmental and regulatory compliance
presents significant challenges for the Global Subsea Risers Market, driven by
stringent environmental standards, evolving regulatory frameworks, and
increasing scrutiny on offshore energy operations. Subsea riser systems must
adhere to environmental regulations aimed at protecting marine ecosystems,
minimizing carbon emissions, and ensuring operational safety.
Offshore oil and gas operators face regulatory
requirements related to emissions control, discharge limits, spill prevention,
and environmental impact assessments (EIAs) for subsea infrastructure,
including riser installations. Compliance with regulatory mandates necessitates
rigorous monitoring, reporting, and mitigation measures to mitigate potential
environmental risks and maintain operational licenses. Subsea riser projects
often encounter permitting delays and regulatory hurdles due to environmental
sensitivities in offshore regions, habitat conservation concerns, and
stakeholder opposition. Proactive engagement with regulatory authorities,
environmental agencies, and local communities is essential to navigating
permitting processes and securing approvals for offshore development activities.
To address environmental and regulatory
challenges, industry stakeholders invest in sustainable practices, technology
innovation, and environmental management systems (EMS) to minimize ecological
footprints and enhance operational efficiency. Adoption of advanced monitoring
technologies, such as real-time environmental sensors and remote monitoring
systems, enables proactive environmental stewardship and compliance with
regulatory requirements. Collaboration across the industry supply chain,
including operators, contractors, environmental consultants, and regulatory
bodies, facilitates knowledge sharing, best practices dissemination, and
continuous improvement in environmental performance. Strategic partnerships and
stakeholder engagement initiatives contribute to building trust, transparency,
and social license to operate in offshore environments.
Safety and Operational Risks
Safety and operational risks pose
critical challenges for the Global Subsea Risers Market, encompassing personnel
safety, asset integrity, operational reliability, and emergency response
readiness. Subsea risers operate in dynamic offshore environments characterized
by harsh weather conditions, unpredictable sea states, and remote locations,
presenting inherent risks to personnel and equipment.
Ensuring the safety of offshore
personnel during riser installation, maintenance, and intervention activities
requires adherence to stringent safety protocols, competency training, and
emergency preparedness plans. Operational risks include equipment failures,
integrity breaches, hydrocarbon releases, and incidents affecting production
uptime and environmental protection. Mitigating safety and operational risks
involves implementing robust risk management frameworks, conducting
comprehensive hazard assessments, and implementing preventive maintenance
programs for subsea riser systems. Regular inspection, testing, and
certification of riser components are essential to maintaining asset integrity
and compliance with industry standards and regulatory requirements.
Technological advancements in subsea
monitoring systems, remote intervention tools, and predictive maintenance
technologies enhance operational safety by enabling early detection of
anomalies and proactive risk mitigation measures. Integration of digitalization
initiatives, such as digital twins and autonomous inspection technologies,
supports real-time decision-making and enhances situational awareness for
offshore operators. Fostering a safety culture across organizational levels,
promoting continuous learning, and conducting incident investigations
contribute to enhancing safety performance and operational resilience in the
Global Subsea Risers Market. Collaborative efforts between operators, service
providers, and industry associations are instrumental in developing
industry-wide safety standards, sharing best practices, and advancing safety
innovation to mitigate risks and improve operational outcomes in offshore
environments.
Key Market Trends
Increasing Deepwater and Ultra-Deepwater
Exploration
One of the prominent trends in the
global subsea risers market is the increasing focus on deepwater and
ultra-deepwater exploration activities. As shallow-water reserves become
depleted, oil and gas companies are moving towards deeper offshore regions to
access untapped hydrocarbon reserves. Deepwater fields, typically located in
water depths exceeding 1,000 meters, and ultra-deepwater fields in depths
exceeding 1,500 meters, require advanced subsea riser systems to connect subsea
wells to production facilities. Technological advancements in subsea riser
design, including flexible risers, steel catenary risers (SCRs), and hybrid
risers, have enabled reliable and efficient hydrocarbon extraction in these
challenging environments. Flexible risers, for example, use composite materials
that can withstand bending and stretching movements caused by ocean currents
and platform motions, ensuring continuous flow of hydrocarbons to production
platforms or processing facilities.
The trend towards deepwater and
ultra-deepwater exploration is driven by the discovery of significant reserves
in offshore basins such as the Gulf of Mexico, Brazil's pre-salt fields, and
West Africa's deepwater plays. These regions offer substantial potential for
new discoveries and production growth, supported by advancements in drilling
technology and improved understanding of geophysical and geological
characteristics. Deepwater projects often benefit from higher oil and gas
prices, which justify the higher costs associated with offshore drilling and
production operations. As global energy demand continues to rise, particularly
in emerging economies, the development of deepwater reserves is expected to
remain a key driver of growth in the subsea risers market. Industry stakeholders
are increasingly investing in innovative riser solutions that can operate
reliably in extreme deepwater conditions, ensuring sustainable and profitable
offshore operations for years to come.
Adoption of Floating Production Systems
Another significant trend shaping the
global subsea risers market is the widespread adoption of floating production
systems (FPSOs) and floating liquefied natural gas (FLNG) facilities. FPSOs are
versatile offshore platforms equipped with processing, storage, and offloading
capabilities, designed to handle hydrocarbon production in remote and deepwater
environments. These floating production solutions require robust subsea riser
systems to connect subsea wells to the production vessel, facilitating the transfer
of hydrocarbons and fluids.
The adoption of FPSOs and FLNG
facilities has gained momentum due to their flexibility, mobility, and ability
to operate in harsh offshore conditions where traditional fixed platforms may
be impractical or economically unfeasible. FPSOs enable rapid deployment and
early production start-up, which is advantageous for developing marginal fields
or extending the life of mature fields through subsea tieback projects. Subsea
risers for FPSOs and FLNG facilities are engineered to withstand dynamic forces
such as wave action, wind loads, and vessel movements, ensuring operational
safety and reliability. Advanced riser technologies, including dynamic riser
systems and flexible risers, are designed to accommodate the vessel's movements
while maintaining integrity and flow assurance.
FLNG facilities offer
significant advantages in monetizing stranded gas reserves by liquefying
natural gas at sea and directly loading it onto LNG carriers for transportation
to global markets. The integration of robust subsea riser solutions with FPSOs
and FLNG units supports efficient offshore production, reduces environmental
footprint, and enhances project economics by optimizing resource utilization
and minimizing infrastructure costs. As offshore operators continue to pursue
deepwater and remote hydrocarbon resources, the demand for innovative subsea
riser technologies that support FPSOs and FLNG facilities is expected to grow.
This trend underscores the importance of reliable and high-performance riser
systems in enabling sustainable offshore energy production and meeting global
energy demand.
Focus on Cost Optimization and
Operational Efficiency
Cost optimization and operational
efficiency are crucial trends driving innovation in the global subsea risers
market. As offshore projects become increasingly complex and capital-intensive,
there is a growing emphasis on reducing costs throughout the project lifecycle,
from exploration and development to production and decommissioning. Subsea
riser systems play a pivotal role in achieving cost efficiencies by improving
reliability, minimizing downtime, and optimizing maintenance schedules.
Innovations in subsea riser design,
materials, and installation techniques are aimed at reducing installation times
and operational risks, thereby lowering overall project costs. For instance,
advancements in composite materials for flexible risers have led to lighter and
more durable solutions that require less maintenance and have longer
operational lifespans. Similarly, improved corrosion-resistant coatings and
materials for steel risers contribute to extended service life and reduced
maintenance expenditures. Operational efficiency is enhanced through the
integration of digital technologies and predictive maintenance strategies in
subsea riser systems. Real-time monitoring and data analytics enable proactive
identification of potential issues, allowing operators to implement preventive
measures and optimize asset performance. Condition-based monitoring systems
provide valuable insights into riser integrity and performance, facilitating
informed decision-making and minimizing unplanned downtime.
Collaborative efforts
between oil and gas operators, service providers, and technology suppliers are
driving innovation and standardization in subsea riser solutions. Joint
industry projects (JIPs) and industry consortia focus on developing best
practices, improving safety standards, and advancing technological capabilities
in subsea engineering. These initiatives promote knowledge sharing, reduce
development costs, and accelerate the deployment of innovative riser
technologies across the industry. As the industry navigates market fluctuations
and economic uncertainties, cost optimization and operational efficiency remain
critical priorities for oil and gas companies. The adoption of advanced subsea
riser solutions that enhance reliability, reduce lifecycle costs, and improve
operational performance is expected to continue as operators seek to maximize
returns on investments and maintain competitive advantages in the global
market.
Integration of Environmental, Social,
and Governance (ESG) Principles
The integration of environmental,
social, and governance (ESG) principles is increasingly influencing decisions
and strategies in the global subsea risers market. As stakeholders prioritize
sustainability and corporate responsibility, oil and gas operators are adopting
ESG-focused initiatives to mitigate environmental impacts, enhance operational
safety, and promote community engagement in offshore operations.
Subsea riser systems designed with ESG
considerations aim to minimize environmental footprint through improved
materials selection, waste management practices, and emissions reduction
strategies. Advanced coatings and materials with enhanced corrosion resistance
and durability help mitigate the risk of leaks and spills, protecting marine
ecosystems and reducing environmental liabilities. The implementation of
stringent safety standards and operational practices in subsea riser operations
contributes to enhancing workplace safety and reducing occupational hazards for
offshore personnel. ESG-focused investments in training programs, health, and
safety initiatives, and emergency response preparedness further underscore
industry commitment to promoting a safe and sustainable working environment.
Transparency and
accountability in governance practices are crucial in promoting ethical conduct
and regulatory compliance in subsea riser operations. Companies are
increasingly disclosing ESG performance metrics, conducting stakeholder engagements,
and aligning business strategies with global sustainability goals such as the
United Nations Sustainable Development Goals (SDGs). As investors, regulators,
and consumers demand greater accountability and transparency in business
practices, the adoption of ESG principles in subsea riser projects is expected
to grow. Oil and gas companies that prioritize environmental stewardship,
social responsibility, and robust governance frameworks are better positioned
to mitigate risks, enhance reputation, and attract capital investments in a
rapidly evolving market landscape.
Segmental Insights
Application
Insights
The deepwater application segment
emerged as the dominant category in the Global Subsea Risers Market and is
expected to maintain its leadership through the forecast period. Deepwater
subsea risers are integral to offshore oil and gas production in water depths
exceeding 500 meters (approximately 1,640 feet), where traditional
shallow-water technologies are not feasible. These risers enable the extraction
of hydrocarbons from deep-sea reservoirs located far offshore, leveraging
advanced engineering solutions to withstand high pressures, corrosive
environments, and challenging seabed conditions.
The dominance of deepwater subsea risers
is driven by increasing global energy demand and the exploration shift towards
deeper offshore basins rich in untapped hydrocarbon resources. Operators are
increasingly investing in deepwater projects in regions such as the Gulf of
Mexico, Brazil's pre-salt fields, West Africa, and the Asia-Pacific, where
subsea production systems and associated riser technologies play a critical
role in unlocking and developing deepwater reserves. Technological advancements
in deepwater riser design, including flexible risers, steel catenary risers
(SCRs), and hybrid riser systems, enhance operational efficiency and
reliability in extreme offshore environments. These risers are engineered with
advanced materials, corrosion-resistant coatings, and robust structural
configurations to ensure continuous hydrocarbon flow, minimize downtime, and
optimize production uptime throughout the asset lifecycle.
The dominance of deepwater subsea risers
is expected to be sustained as operators continue to pursue offshore
exploration and production opportunities in deeper waters. Regulatory
frameworks that support safe and sustainable offshore operations, coupled with
advancements in subsea technology and project economics, will drive the
adoption of deepwater riser solutions. Collaborative efforts among industry
stakeholders, including operators, engineering firms, and technology providers,
will facilitate ongoing innovation and optimization of deepwater riser systems.
These efforts aim to address technical challenges, enhance operational safety,
and maximize production efficiency, thereby reinforcing deepwater subsea
risers' pivotal role in meeting global energy demands and supporting
sustainable offshore development initiatives in the Global Subsea Risers
Market.
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Regional Insights
North America emerged as the dominant
region in the Global Subsea Risers Market and is projected to maintain its
leadership through the forecast period. North America's dominance is primarily
driven by robust offshore oil and gas activities in regions such as the Gulf of
Mexico and advancements in deepwater exploration and production technologies.
The region benefits from extensive infrastructure and established capabilities
in offshore energy development, supported by a mature supply chain, technological
innovation, and favorable regulatory frameworks.
The Gulf of Mexico, in particular,
remains a key hub for deepwater projects, characterized by significant
investments in subsea infrastructure, including riser systems essential for
hydrocarbon extraction from deep-sea reservoirs. Operators in North America
leverage advanced riser technologies, such as flexible risers, steel catenary
risers (SCRs), and hybrid riser systems, to overcome technical challenges
associated with deepwater operations, including high pressures, harsh
environmental conditions, and complex geological formations. Ongoing
advancements in subsea engineering, digitalization, and automation contribute
to enhancing operational efficiency, reducing costs, and improving safety in
offshore operations across North America. These advancements support the
region's competitiveness in the Global Subsea Risers Market by enabling
operators to optimize production uptime, mitigate risks, and maximize recovery
from offshore assets.
North America's dominance in the subsea
risers market is expected to be sustained as operators continue to pursue new
offshore discoveries, expand existing fields, and enhance production
capabilities in deepwater environments. Regulatory stability, technological
innovation, and industry collaboration will play pivotal roles in driving
continued growth and resilience in North America's offshore energy sector,
reinforcing its position as a leading market for subsea risers. Strategic
investments in renewable energy projects, offshore wind farms, and
environmental sustainability initiatives further diversify the region's
offshore energy portfolio and contribute to long-term market stability. As
global energy demand evolves and offshore development continues to evolve,
North America's leadership in subsea risers technologies will likely remain
pivotal in shaping the future of offshore hydrocarbon production and
sustainable energy solutions worldwide.
Recent Developments
- In March 2024, Subsea7 has secured a
significant contract for a major ultra-deepwater field development project in
Mexico. The contract, valued at a substantial sum, involves providing
engineering, procurement, construction, and installation (EPCI) services for
subsea umbilicals, risers, and flowlines (SURF) in the Gulf of Mexico. This
project underscores Subsea7's expertise in complex offshore operations and its
commitment to supporting deepwater exploration and production activities. The
company aims to leverage advanced technologies and operational excellence to
deliver reliable subsea solutions that meet the project's stringent
requirements and enhance offshore hydrocarbon production capabilities.
- In March 2024, Subsea 7 has entered a
new phase in its contracts for the Bacalhau and Mero fields offshore Brazil.
The contracts, valued at a significant amount, involve providing engineering,
procurement, construction, and installation (EPCI) services for subsea infrastructure.
This includes subsea umbilicals, risers, and flowlines (SURF) necessary for the
development of these deepwater oil fields. The company's expertise in complex
offshore projects positions it well to support Brazil's strategic oil and gas
developments, contributing to increased production capacity and operational
efficiency in the region's challenging offshore environments.
- In June 2022, Schlumberger and Subsea 7
have extended their partnership to enhance collaboration in subsea development
projects. The renewed agreement focuses on leveraging their respective
expertise in technology and project execution to deliver integrated solutions for
offshore oil and gas operations globally. This partnership aims to streamline
project delivery, optimize operational efficiency, and reduce costs through
advanced subsea technologies and digital innovations. By combining
Schlumberger's subsurface expertise with Subsea 7's capabilities in subsea
engineering and construction, the collaboration aims to meet the evolving needs
of the industry and support sustainable energy development initiatives
worldwide.
Key Market Players
- TechnipFMC plc
- Aker Solutions ASA
- Saipem S.p.A.
- Subsea 7 S.A.
- McDermott International Ltd.
- Oceaneering International, Inc.
- Weatherford International plc
- Baker Hughes Company
- Halliburton Energy Services, Inc.
- Schlumberger Limited
- Prysmian S.p.A
- Expro Group Holdings N.V.
|
By Type
|
By Application
|
By Region
|
- Production Risers
- Drilling Risers
|
|
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
|
Report Scope:
In this report, the Global Subsea Risers Market has
been segmented into the following categories, in addition to the industry
trends which have also been detailed below:
- Subsea Risers Market, By Type:
o Production Risers
o Drilling Risers
- Subsea Risers Market, By Application:
o Shallow Water
o Deepwater
- Subsea Risers Market, By
Region:
o North America
§ United States
§ Canada
§ Mexico
o Europe
§ France
§ United Kingdom
§ Italy
§ Germany
§ Spain
§ Belgium
o Asia-Pacific
§ China
§ India
§ Japan
§ Australia
§ South Korea
§ Indonesia
§ Vietnam
o South America
§ Brazil
§ Argentina
§ Colombia
§ Chile
§ Peru
o Middle East & Africa
§ South Africa
§ Saudi Arabia
§ UAE
§ Turkey
§ Israel
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Global Subsea Risers Market.
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given market data, TechSci Research offers customizations according to a
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Company Information
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profiling of additional market players (up to five).
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