• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 13 hours Oil prices going Up? NO!
  • 14 mins Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 4 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 13 mins Kenya Eyes 200+ Oil Wells
  • 4 hours The Tony Seba report
  • 1 day Oil prices going down
  • 9 hours Saudi Arabia turns to solar
  • 2 days Could Venezuela become a net oil importer?
  • 1 day Could oil demand collapse rapidly? Yup, sure could.
  • 2 days Oil Buyers Club
  • 2 days Gazprom Exports to EU Hit Record
  • 21 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 14 hours Are Electric Vehicles Really Better For The Environment?
  • 1 day Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 13 mins OPEC soap opera daily update
Alt Text

Russia Pushes Ahead With Controversial Nord Stream 2

Russia’s controversial Nord Stream 2…

Alt Text

The Permian Faces A Long Term Natural Gas Crisis

Bottlenecks in the Permian have…

Alt Text

Korea Rapprochement Could Revive Energy Megaproject

The improving relations between the…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Deeper & Smarter: The Subsea Oil & Gas Growth Outlook

Right now, we’re looking at a 70%-30% spread for total global onshore and offshore oil and gas production, respectively. Of that 30% of offshore production, subsea oil and gas production represents 9%. That is about to change as E&P companies go deeper and deeper, taking advantage of new technology that can handle higher pressure and higher temperatures to ward off declining production.

Subsea production systems are wells located on the sea floor rather than the surface. Petroleum is extracted at the seafloor, and then 'tied-back' to an already existing production platform. The well is drilled by a moveable rig and the extracted oil and gas is transported by riser or undersea pipeline to a nearby production platform. Subsea systems are typically in use at depths of 7,000 feet or more, and do not have the ability to drill, only to extract and transport.

The real advantage of subsea production systems is that they allow you to use one platform—strategically placed—to service many well areas.  And as the cost of offshore production rises, this could represent significant savings.

Subsea production could rival traditional offshore production in less than 15-20 years, and we’re looking at expected market growth for subsea facilities of around $27 billion in 2011 to an amazing $130 billion in 2020.

Subsea capital expenditure is set to grow at 14.8% to 2017, according to Infield Systems, and driving this growth is…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News