JEDDAH — Subsea injection technology offers major advantages over fixed production platforms mainly in remote offshore locations, where strong ocean currents, deep water and harsh weather conditions is expected to occur and installation of pipelines becomes difficult.
According to a new research study by Transparency Market Research, titled “Subsea Injection Systems Market - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2015 - 2023,” the operational, economic, as well as environmental benefits offered by subsea injection systems, are expected to boost the demand for subsea injection systems across the world over the forecast period between 2015 and 2023.
Apart from this, the cost efficiency provided by subsea injection systems in the extraction of oil and gas in deeper water reserves is also expected to fuel demand from the global market for subsea injection systems, states the research study.
In the report, the global market for subsea injection systems has been studied on the basis of the type of injection systems and the regional distribution of this market. Based on the type of injection systems, the study has classified this market into enhanced oil recovery (EOR) systems, saltwater disposal systems, and hydrocarbon storage systems.
The saltwater disposal injection system is utilized to discard the saltwater produced as a byproduct of oil and gas, which continuously needs to be disposed of for the life of the well. An EOR injection system is used to improve the exploration and production as well as extend the life of an oil and gas field with the help of water flooding. A hydrocarbon storage injection system is employed for the underground storage of crude oil and liquid hydrocarbons, notes the research study.
On the regional front, the study segments the global subsea injection systems market into Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Analysts project North America as one of the leading regional markets for subsea injection systems.
Asia Pacific is also expected to contribute significantly to the demand for subsea injection systems over the forecast period owing to the increase in the exploration and production activities in the offshore areas of Australia, China, and Indonesia.
The Europe subsea injection systems market is anticipated to exhibit steady growth and the UK is expected to lead this regional market in the coming years, states the research study.
The report also studies in detail the competitive landscape prevalent in the worldwide subsea injection systems market by evaluating the company profiles of the key market participants.
Some of the major international manufacturers of subsea injection systems mentioned in the market report are BP Plc, Saudi Aramco, Statoil ASA, CNR International Ltd., Chevron Corp., Brunei Shell Petroleum, Exxon Mobil Corp., ConocoPhillips Co., and Talisman Energy Inc. — SG
