Dallas, Texas (PRWEB) May 26, 2015
Global Floating Production Storage and Offloading (FPSO) Market 2015-2019 report, says advances in technology improves oil recovery techniques. These advances include unlocking the potential of processing oil and gas in harsh temperatures and pressures through the use of FPS and methods to separate oil at the production facility instead of separating it at the hub. Advanced FPSOs can also mitigate harsh environment conditions because they use turret mooring with self-adjusting stiffness systems, which makes mooring in shallow water easier. Also, in adverse weather conditions, the turret of an FPSO can sink beneath the waves and can be reconnected later. In addition, global floating production storage and offloading (FPSO) market vendors are increasing their investment in R&D, which is expected to reduce the time and risks associated with production processes. The overall volume of production will increase, whereas the costs and risks will decline significantly because of rapid advances in technology.
This complete report on Floating Production Storage and Offloading (FPSO) market spread across 73 pages and provides 23 Exhibits to support the market analysis. Read more on the Global Floating Production Storage and Offloading (FPSO) Market 2015-2019 report at http://www.rnrmarketresearch.com/global-floating-production-storage-and-offloading-fpso-market-2015-2019-market-report.html.
The huge energy demand requires operators to search for reserves in remote deep and ultra-deepwater locations, which involves coping with harsh environments and associated.
The analysts forecast global floating production storage and offloading (FPSO) market to grow at a CAGR of 12.9% over the period 2014-2019. According to the report on FPSO market, in recent years, maturing onshore oil reserves have triggered a shift from onshore to offshore reserves such as deepwater and ultra-deepwater reserves to increase oil and gas production. Currently, subsea production activities are growing because of the depleting oil reserves worldwide. Production levels of oil and gas worldwide will likely rise significantly on the back of a sharper focus on oil recovery in offshore reserves. This will not only help to improve the current supply-demand imbalance prevailing in the market, but also stabilize volatile oil prices.
FPSO technology is considered the most suitable technology for oil production in deepwater and extreme climatic conditions.
The global floating production storage and offloading (FPSO) market can be segmented into two divisions based on application: shallow water and deep and ultra-deep water.
Key Market Drivers
- Advantages of FPSO
- Maturing Onshore Oil Reserves
- Increase in Global Oil and Gas Consumption
- Growing Need for Energy Security
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Key Market Trends
- Rapid Advances in Technology
- Increase in Deep and Ultra-deepwater Discoveries
- Growing Demand for FPSO Units
- Increase in Investment by Market Vendors
The following companies are the key players in the global floating production storage and offloading (FPSO) market: BW Offshore, Chevron, CNOOC, ExxonMobil and Petrobras.
Other Prominent Vendors in the market are: MODEC, SBM Offshore and Total.
The report Global Floating Production Storage and Offloading (FPSO) Market 2015-2019, states that the increased deployment of FPSO is having an adverse impact on the environment in terms of increased hydrocarbon emissions resulting from production operations, light and noise pollution, emissions from flare stacks and fuel combustion, routine discharges into the marine environment, and waste disposal.
Other Related Reports:
Global Offshore Oil and Gas Market 2015-2019: Analysts forecast the Global Offshore Oil market and the Global Offshore Gas market to grow at a CAGR of 2.7% and 1%, respectively, over the period 2014-2019.
The report covers the present scenario and the growth prospects of the Global Offshore Oil and Gas market for the period 2015-2019.
Key Vendors: BP, Chevron, ExxonMobil, Royal Dutch Shell and Total
Other Prominent Vendors: ConocoPhillips, Eni, Petrobras and Statoil
FPS Market in the Americas 2014-2018: Analysts forecast the FPS market in Americas to grow at a CAGR of 24.9% over the period 2013-2018.
Key Vendors: Petrobas, BW Offshore, SBM Offshore, Samsung Heavy Industries and Daewoo Shipbuilding and Marine Engineering
Other Prominent Vendors: Pipavav Defence and Offshore Engineering Company, Teekay, China National Offshore Oil, Technip, BUMI Armada, Keppel Offshore and Marine and ExxonMobil
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