Wednesday, February 28, 2024

South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market Major Players, Analysis and Forecast Till 2018-2028

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Offshore exploration and production activities is expected to drive the South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth in the forecast period, 2024-2028. 

Per TechSci Research’s report titled “South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market – By Country, Competition, Forecast and Opportunities, 2018-2028,” the South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market is expected to exhibit strong growth between 2024 and 2028. The surge in demand for efficient subsea umbilical risers and flowlines aligns with the expanding commercial marine trade and operations. Technological advancements ensuring safe operations and effective interconnections between top platforms and seabed-mounted wellheads are driving the growth of the global subsea umbilical risers and flowline market, particularly the growth in offshore field development.

South America, boasting abundant offshore oil and gas reserves, especially in Brazil, Venezuela, Colombia, and Guyana, sees active exploration and development of offshore fields, particularly in deepwater and ultra-deepwater regions. The demand for advanced SURF systems, encompassing umbilicals, risers, and flowlines, is steadily rising to facilitate the extraction and transportation of hydrocarbons. This presents significant opportunities for SURF equipment manufacturers and service providers to meet the escalating demand.

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Regarding the product segment, the Flowlines segment has emerged as the leading market player. The liberalization of energy markets in South America, coupled with increased foreign investment, has fostered collaborations between international energy companies and local players. These strategic partnerships promote innovation and enhance the efficiency and reliability of flowline systems. Meeting local content requirements creates opportunities for domestic suppliers to actively participate in the flowline supply chain, particularly in flexible pipe manufacturing and assembly. Additionally, integrating digital technologies and IoT solutions in flowline systems can significantly enhance real-time monitoring, predictive maintenance, and overall operational efficiency. Companies specializing in digital solutions can leverage this opportunity to establish a strong foothold in the market. In conclusion, the flowlines segment of the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) market plays a crucial role in the region’s offshore oil and gas production, influenced by various factors like deepwater exploration, technological complexity, environmental considerations, and opportunities for renewable energy integration, innovation, local content participation, and digitalization. 

In terms of type, the Shallow Water segment is anticipated to witness growth during the forecast period. Shallow water SURF systems are tailored for utilization in relatively shallow offshore environments, where the water depth is typically less than 200 meters. These systems play a pivotal role in connecting subsea wells to production facilities, platforms, or onshore processing units. The shallow water regions in South America often harbor accessible oil and gas reserves, garnering significant interest from oil and gas companies compared to deepwater and ultra-deepwater reserves. There are ample opportunities for expanding existing infrastructure in shallow water regions, including the addition of new wells, risers, and flowlines to prolong the service life of offshore platforms and boost production. Shallow water SURF systems prove to be an optimal choice for developing marginal fields that might have been previously overlooked. By employing the appropriate SURF infrastructure, operators can cost-effectively extract remaining reserves from these fields. In conclusion, the shallow water segment of the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) market presents opportunities for economical oil and gas development, expansion of existing infrastructure, and the exploitation of marginal fields.

Key companies operating in the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market include:

  • TechnipFMC,
  • Subsea 7,
  • Aker Solutions,
  • National Oilwell Varco,
  • Siemens Energy,
  • Prysmian Group,
  • Oceaneering International,
  • Baker Hughes,
  • DOF Subsea,
  • Saipem.

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“Acrding to Mr. Karan Chechi, Research Director at TechSci Research, ‘Brazil is expected to dominate the market during the forecast period.’ Brazil’s active venture into offshore wind energy paves the way for potential growth in the SURF market, as the connection of offshore wind turbines to onshore grids necessitates the deployment of subsea infrastructure. Adopting digitalization and IoT technologies can enhance operational efficiency, decrease maintenance expenses, and improve project economics.

‘South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By Product (Flowlines, Umbilicals and Risers), By Type (Shallow Water, Deep Water and Ultra Deep Water), By Country, By Competition Forecast & Opportunities, 2018-2028’ has assessed the future growth potential of South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market and provides statistics & information on market size, structure, and future market growth. The report aims to deliver advanced market intelligence and aid decision makers in making sound investment decisions. Additionally, the report identifies and analyzes emerging trends along with essential drivers, challenges, and opportunities in South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market.”

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