The ability of subsea manifolds to conveniently suit to complex subsea reserves is driving their adoption across exploration and drilling sites worldwide. Subsea manifolds are mostly customizable according to type of soil in the sea bed and can withstand harsh conditions in deepwater. They can be connected to multiple beds simultaneously.
What are Subsea Manifolds?
Subsea manifolds are subsea flow structures containing pipework and valves that connect subsea trees to flowlines. These systems are used for directing fracturing fluids to wells and extracting produced fluids from wells into flow lines. They can be utilized for vertical or horizontal connections with resource beds in deepwater.
Aibel’s Cost-effective Subsea Systems
Companies are increasingly finding new ways to develop subsea technologies that can suit harsh working conditions. By installing advanced subsea manifolds, a substantial reduction in overall capital expenditure incurred during exploration and drilling activities can be achieved. Recently, Aibel developed cost-effective subsea manifold systems that can help in reducing required offshore hours. The company plans to develop modules that will enhance water injection capacity in addition to associated hookup.
Market Insights
As per a report by Grand View Research, Inc., the global subsea manifolds market is poised to reach a valuation of USD 5.08 billion by 2025. Soaring deepwater drilling activities are anticipated to be among the primary growth stimulants of the market. Moreover, revision in offshore regulations can work in favor of the market. Increasing shift of oil and gas manufacturers from traditional onshore reserves to complex subsea reserves is likely to escalate demand for subsea manifolds.
Advancements and innovations in the field of subsea technologies are also expected to play a vital role in the development of the market. Furthermore, robust growth of the oil and gas industry is positively impacting market growth. On the flip side, the market can be hampered by turbulent prices of crude oil.
Some of the prominent companies operating in the market are Halliburton Company; Weatherford International Inc.; Schlumberger Limited; Baker Hughes Incorporated; and Trendsetter Engineering. Majority of key companies are focusing on expanding their geographical reach. For instance, in August 2016, Larsen & Turbo (L&T) and GE partnered to manufacture subsea manifolds for deepwater projects in the Krishna-Godavari basin in India.
In-Depth research report on Subsea Manifolds Market:
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