News Archive for Oil and Gas News, Subsea News

Subsea compression system market – an analytic outlook: 2016 – 2023

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Offshore is expected to be the most important source of new oil and gas production in upcoming years. Declining reserves in existing wells accompanied by rising energy demand are lending drive to subsea exploration. Subsea production systems are considered to be an important part of offshore developments. Subsea exploration is fuelling the demand for subsea equipments globally. Reservoir pressure in producing gas fields is declining over time causing gas output to decline gradually. For production to be economical, gas pressure must be raised to maximize production.

Subsea can supply separation and compression capabilities to deliver natural gas to onshore processing facilities to enhance the production of oil and gas from subsea wells. Subsea compression is cost effective for the gas fields requiring pressure boosting. Reliable subsea compression is a key to push subsea production from marginal and deepwater fields. The subsea compression system will provide benefits compared with installing a new platform including capital expenditure and operating expenditure. The subsea compression unit must be continuous and maintenance free operations for few initial years. Subsea compression is an energy efficient solution for oil and gas industry as they work close to the well.. As compression maintain flow rate of gas above hydraulic limit, more hydrocarbons can be recovered from the reservoir. The added value of subsea compression system depends on several factors such as tieback distance type of reservoir, production system and water depth.

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Subsea compression system market can be segmented on the basis of geography into North and South America, Europe, Asia Pacific and Rest of the world.  West Africa is estimated to have the largest deepwater and ultra deepwater reserves followed by South America, Western Europe and North America. The expenditure of each market segment varies based on the activity and maturity levels. Western Europe with mature reserve constitutes a large share of the subsea compression system market as compared to South America, which is a few matured subsea regions. The market in West Africa is dominated by Angola and Nigeria. In South America, Brazil with high installation investments and subsea infrastructure acquires a major share of the subsea compression system market. In North America, Mexico and the U.S. constitutes of the major share of the total subsea compression system market.

One of the driving forces in the subsea compression system market is the reduction in development cost as compared to the traditional method. Compression on the seabed provides better efficiency than a conventional topside facility. The subsea compression system market is expected to grow in the coming year because subsea compression is vital part of subsea production system. Subsea compression system addresses declining gas reservoir pressure offering an attractive combination of economic and environmental benefits. Subsea compression can be considered as a technology for recovering increased volumes from beginning of the projects and at a later stage of the field life. Subsea compression will become widespread as projects move into deeper water, further from shore. Subsea compression system will also eliminate the need for a new submersible platform with heavy weights. It will also provide far reaching HSE benefits to subsea gas developments. The added value of subsea compression system depends on several factors such as tieback distance type of reservoir, production system and water depth

 

Some of the global players in the subsea compression systems market are One Subsea, Aker Solutions and FMC Technologies. Mergers, acquisitions and partnership will help subsea equipment suppliers to penetrate global subsea compression system market.

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C-Kore Systems deploys Subsea Monitoring Tools for Shell

C-kore Zetechtics

C-Kore Systems Ltd, a UK based company, recently deployed their C-Kore subsea monitoring tools for Shell E&P.

The C-Kore units analyzed the electrical properties of umbilicals, jumpers, distribution manifold and control modules in the field to locate items requiring maintenance. Using the C-Kore monitoring units allowed accurate data on the insulation resistance, continuity and capacitance to be gathered more quickly than can be achieved with traditional methods, such as downlines or tests from shore. There wet mate connectors allow the units to be installed subsea, and they are small enough to be deployed quickly using the ROV tooling tray.

Tim Overfield, managing director of C-Kore Systems, “With every deployment, our customers realize the value our C-Kore tools offer them by drastically reducing their testing time. The units are designed to be easy to use while delivering accurate data, allowing the operators to quickly monitor equipment, even when it is subsea.”

For more information, please visit: http://www.c-kore.com

C-Kore Tronic(1)

State-of-the-art vessel Navigator Aurora to deliver ethane to Borealis in Stenungsund, Sweden

Navigator Aurora

 

Borealis, a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers, has signed a contract with Navigator Gas for the long-term time charter of the vessel Navigator Aurora. The naming ceremony took place at the Jiangnan Shipyard in Shanghai, China, on 3 May 2016. The vessel was christened by Irene Giner-Reichl, Austrian Ambassador to the People’s Republic of China.

New vessel will ensure long-term, reliable ethane supply to Borealis production facilities in Sweden

After its commissioning in the fourth quarter of 2016, the new vessel will be the world’s largest ethane carrier. The agreement plays a crucial role in ensuring the cost effective, safe and reliable transport of ethane to Borealis production facilities in Stenungsund, Sweden.

Borealis has entered into this long-term time charter agreement with Navigator Gas, owner of the Navigator Aurora and operator of the world’s largest fleet of handysize liquefied gas carriers. With a length of 180 m, the newly-built Navigator Aurora has a total cargo tank size of 35,000 cubic metres (cbm) and can hold ethane loads of up to 20,000 tonnes, making it the biggest ethane-capable vessel serving the global market.

Commercial operations are scheduled to begin in the fourth quarter of 2016. The vessel will sail between the Marcus Hook refinery in Pennsylvania, US, and Stenungsund. As a dual-fuel vessel, it can run on both diesel fuel and liquefied natural gas (LNG), meaning it can meet increasingly stringent environmental regulations and take advantage of the current low prices of natural gas.

“This state-of-the-art vessel is key to our efforts to secure a safe, cost-efficient and reliable supply of ethane for Borealis operations over the long term,” states Markku Korvenranta, Borealis Executive Vice President Base Chemicals. “We are pleased to have gained such an experienced partner with Navigator Gas. This project and the related investments underline our commitment to further strengthen our monomer position in Europe.”

In the meantime, the currently ongoing, multi-million investment in the cracker upgrade and the construction of an ethane storage tank in Borealis’ location in Stenungsund is proceeding according to plan. The commissioning of a new unloading and storage facility will begin in the fourth quarter of 2016.

Borealis is a leading provider of innovative solutions in the fields of polyolefins, base chemicals and fertilizers. With headquarters in Vienna, Austria, the company currently has around 6,500 employees and operates in over 120 countries. Borealis generated EUR 7.7 billion in sales revenue and a net profit of EUR 988 million in 2015. The International Petroleum Investment Company (IPIC) of Abu Dhabi owns 64% of the company, the remaining 36% belonging to OMV, an international, integrated oil and gas company based in Vienna. Borealis provides services and products to customers around the world in collaboration with Borouge, a joint venture with the Abu Dhabi National Oil Company (ADNOC).

Building on its proprietary Borstar® and Borlink™ technologies and more than 50 years of experience in polyolefins, Borealis and Borouge support key industries with a wide range of applications in the areas of energy, automotive, pipes, consumer products, healthcare, and advanced packaging.

The Borouge 3 plant expansion will make Borouge the world’s largest integrated polyolefins complex. Once fully ramped up in 2016, the additional 2.5 million tonnes of polyolefins capacity will yield a total Borouge capacity of 4.5 million tonnes, and a combined Borealis and Borouge capacity of 8 million tonnes.

Borealis offers a wide range of base chemicals, including melamine, phenol, acetone, ethylene, propylene, butadiene and pygas, servicing a wide range of industries. Borealis also creates real value for the agricultural industry, selling approximately 5 million tonnes of fertilizers. Technical nitrogen and melamine products complement the portfolio with applications ranging from mono-nitrogen oxide (NOx) abatement to glues and laminates in the wood working industry.

Borealis and Borouge aim to proactively benefit society by taking on real societal challenges and offering real solutions. Both companies are committed to the principles of Responsible Care®, an initiative to improve safety performance within the chemical industry, and work to solve the world’s water and sanitation challenges through product innovation and their Water for the World™ programme.

For more information, please visit : http://www.borealisgroup.com

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Subsea production and processing system – industry survey and new business opportunities 2020

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The subsea environment is perhaps the most unexplored segment on earth. The isolation of subsea wells coupled with a complex interaction between ocean environment and subsea wells make monitoring, intervention and routine operation much complex. These systems are now being deployed in many fields to overcome the hurdles occurring at the time of production. One of the driving forces behind subsea production systems is the drastic reduction in development costs when compared with the traditional methods. In most cases, the use of a subsea tieback is the only option to develop these resources.

With the rapid growth of subsea fields once thought to be less profitable due to the harsh conditions and huge expenses involved in the exploitation of the available resources, many companies are using subsea processing technology as one of the main methods of reducing operational expenditures. Traditional offshore development is mainly focused on the construction of fixed leg platforms in the shallow water. In deep waters, the emphasis has been on the use of floating production systems to existing production platforms.

However, with the applications of new methods industry is looking forward to new concepts like subsea processing. As opposed to the conventional method of processing reservoir fluids at process station, subsea processing holds promise in that, all the processing activities is carried out at the seafloor itself. Thus less cost is incurred and also it improves recovery factors from the reservoir. Other advantages comprise lesser susceptibility to hydrate formation and at lower operating expenditure.

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Subsea processing facilities holds the potential to off load equipment to the seafloor. This provides for a reduction in platform deck load requirements thereby reducing the backpressure imposed by the production riser. Subsea processing process can take place in numerous forms, comprising boosting scenarios and subsea separation. Strategic technologies that are essential for the successful implementation of subsea processing include compact separation, multiphase pumping and multiphase metering which varies in all the stages of maturity.

Multiphase pumps are used in conjunction with the other types of subsea processing schemes. Wet gas compressor or a multiphase pump represents the best choice for the gas stream. If no gas stream is left to flow under its own pressure, a multiphase pump or wet gas compressor can boost the pressure of the gas stream even when it contains some amount of liquid by volume.

Cost of intervention in subsea wells is extremely high and has limited efforts to monitor wells. In general, pressure boosting at the seafloor is generally preferred rather than artificial lift in the wellbore due to the lower cost of intervention. Increasing flexibility using intelligent well technology is also seen as an alternative to well intervention.

Emerging economies and growing population are some of the key drivers of the subsea production and processing systems market. However, integration of new technology with the existing technology can hinder the growth of the market. Ample amount of opportunities are there for subsea production and processing system market as demand for energy is increasing at a healthy rate especially in Asia Pacific countries such as India and China.

Some of the key players in the subsea production and processing system market include FMC Technologies, Aker Solutions, GE Energy, Schlumberger Limited, Weatherford International, and Baker Hughes Inc. among others.

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Marine seismic equipment and acquisition – A review of developments and insights 2020

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Decrease in conventional reserves and the necessity to carry out exploration in an increasingly harsh environment means that advanced seismic exploration technologies are required. Currently, there is a continuous trend for increasing the penetration of seismic surveys, which is only possible due to improved equipment sensitivity. High sensitivity receivers and multichannel recording systems are preferred due to better efficiency and reliable life span. However, with increase in the distribution of multichannel technologies, rising problem of power supply can be resolved. The increase in the number of equipments units while packaging a grid and the usage of digital sensors leads to huge power consumption at the time of conducting the survey.

For better data recording wireless data systems are preferred. Using standalone unit reduces down the labor and time costs for unreeling and laying cables and it also allows seismic exploration to take place in highly complex terrains. Various oilfield service companies have started using wireless data recording system, but the chances of usage of wireless data recording system by many companies are quite narrow.

Seismic equipment market is regulated by the volume and structure of demand for geological exploration by various oil producing companies. Till 2008, the global seismic equipment market was growing at a healthy rate due to the increasing capacities of oilfield service companies, majorly driven by the desire of exploration and production (E&P) companies to increase the number of surveys they were conducting. Crisis that had taken place in the year of 2008 has led to a decrease in the volume of exploration works by E&P companies, which had led to a rapid decrease in real volumes in the seismic equipment market. Simultaneously, the oilfield service providing companies had underused the production capacities, leading to a reduction in demand for seismic equipment.

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In the year 2010, the seismic exploration market was worth USD 8.9 billion. Small percentage of the market comprises equipment manufacturers while the remaining percentage consisted of seismic data processing and field works. Global seismic equipment market is heterogeneous in nature. Development of local market is determined through the demand of seismic exploration in various regions and also by the demand for specific technologies in a region.

Traditionally marine seismic equipments comprises of the large share of the seismic equipment market whereas surface equipment contributes only 45%. Highest share of the surface equipment market belongs to data registration systems (45%) and vibroseis sources (31%) whereas signal receiver accounts for 24% market share in 2010.

Methods such as Slip Sweep and Flip Flop are continuously used to get high quality signals and such methods needs wide involvement of vibroseis sources. Special synchronized systems are utilized to ensure efficient and effective use of groups of vibroseis sources. Key technological trends for conducting seismic surveys are accelerating the continuous up gradation and expansion of the equipments of oilfield service companies, which in turn is driving the seismic equipment market to grow.

Some of the key drivers of the seismic equipment market include the renewal cycles of the technology used and the growing numbers of seismic surveys being conducted. However, large amount of capital required to carry out the seismic survey can hamper the growth of the market. Ample opportunities are there for marine seismic equipment market as demand for energy is increasing at a rapid rate.

Some of the key companies in the business of marine seismic equipments are SIG FRANCE, Mitcham Industries Inc., ION Geophysical Corporation and Tesla Exploration International Limited among others.

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Electrical submersible pump (ESP) cables industry to exhibit 4.70% CAGR by 2023, owing to increasing exploration activities worldwide

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Transparency Market Research, a global market intelligence firm, announces the publication of a new research report made available on the company website. The market research report, titled “Electrical Submersible Pump Cables Market – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 – 2023,” provides a detailed analysis of the market. According to the research report, in 2014, the global electrical submersible pump (ESP) Cables market was valued at more than US$3 bn and is anticipated to reach a value of US$4.5 bn by the end of 2023. The market is projected to register a healthy 4.70% CAGR between 2014 and 2023.

Electrical submersible pump cables transmit surface power to the pump motor and are specially designed to perform under the downhole well setting. ESP cables are three-phase cables and differ mostly depending on the well specifications and geography. The increasing demand for ESPs worldwide and increase in the depth of oil wells are the major factors fuelling the growth of the global ESP cables market. In addition, the growing production from oil sands across the globe has provided huge opportunities for the growth of the major players operating in the market. However, limited usability in shale gas fields and the recent drop in oil prices has resulted in a reduction in production spending and offshore exploration, thus hampering the growth of the market.

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On the basis of application, the global ESP cables market has been classified into offshore and onshore ESP cables. In 2014, the onshore segment led the market, holding a 69.88% share in the global ESP cables market. The configuration of ESP cables depends on the surface and sub-surface components, differentiating it for offshore and onshore oilfields. On the basis of type, the global ESP cables market has been categorized into polypropylene, EPDM, and others. In 2014, the EPDM cables segment dominated the market, holding a 57.27% share in the overall market, whereas the polypropylene cables and others segments accounted for a 34.69% and 8.03% share, respectively, in the global ESP cables market.

By geography, the global ESP cables market has been segmented into South and Central America, North America, the Middle East and Africa, Europe, and Asia Pacific. In 2014, Europe dominated the market, accounting for a 60% share in the global ESP cables market. This region is anticipated to remain in the leading position throughout the forecast period, owing to the rising number of mature fields in the U.K., Kazakhstan, Russia, and Norway. Europe is followed by North America, which held a 20% share in the global ESP cables market in 2014. The substantial share of the North America market can be attributed to the rising production from oil sands in Canada and growing shale oil production in the U.S., which are the key contributors to the growth in ESP cable installations in the region. The increasing exploration and production activities in the South China Sea are estimated to augment the growth of the Asia Pacific ESP cables market in the next few years.

The research study has further provided a clear picture of the competitive scenario of the global ESP cables market. Some of the prominent players operating in the market are Borets Company, LLC, General Cable Corporation, Prysmian Group, Hitachi Metals, Ltd., Kerite, Weatherford International, Schlumberger Limited, Halliburton Company, and GE Oil & Gas.

Key Segments of the ESP Cables Market:

ESP Cables Market: By Application

  • Onshore
  • Offshore

 

ESP Cables Market: By Types

  • EPDM (Ethylene propylene diene monomer)
  • Polypropylene
  • Others

Research Report:http://www.transparencymarketresearch.com/electrical-submersible-pump-cables-market.html

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Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

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Global anticorrosive coatings consumption 2016 industry report: Global QY Research

The recently published report titled Global Anticorrosive Coatings Consumption Industry 2016 Market Research Report is an in depth study providing complete analysis of the industry for the period 2016 – 2021. It provides complete overview of Global Anticorrosive Coatings Consumption market considering all the major industry trends, market dynamics and competitive scenario.

The Global Anticorrosive Coatings Consumption Industry Report 2016 is an in depth study analyzing the current state of the Global Anticorrosive Coatings Consumption market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Global Anticorrosive Coatings Consumption market provides analysis of China market covering the industry trends, recent developments in the market and competitive landscape. Competitive analysis includes competitive information of leading players in China market, their company profiles, product portfolio, capacity, production, and company financials. In addition, report also provides upstream raw material analysis and downstream demand analysis along with the key development trends and sales channel analysis. Research study on Global Anticorrosive Coatings Consumption market also discusses the opportunity areas for investors.

View Report at http://globalqyresearch.com/global-anticorrosive-coatings-consumption-2016

With153 tables and figures, the report provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

Reasons to Buy this Report

The research report will enrich your decision-making capability by helping you to –
Design and improve your product development and sales strategies and enhancing your marketing activities
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Understand the competitive scenario in the Global Anticorrosive Coatings Consumption market
Take more informed business decisions by relying on the insightful opinions from industry experts

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Riserless light well intervention market driven by rising exploration activities in subsea fields

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The global market for riserless light well intervention has been analyzed in a recent market research report by Transparency Market Research. The report, titled “Riserless Light Well Intervention Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020,” gives a forward-looking perspective on the key factors influencing the market’s future growth prospects.

Riserless light well intervention (RLWI) technologies enable cost-effective deepwater operations in mature subsea fields and are used in existing subsea wells, making the production of incremental volumes of oil possible at competitive costs. As the number of subsea wells is increasing across the globe, the need for interventions such as chemical treatment, repair, plug zone isolation, measurement, and scale removal has also increased in the oil and gas industry. This is significantly driving the global riserless light well intervention market.

RLWI operations are typically undertaken from custom-built, dynamically positioned vessels capable of performing activities such as gauging, logging, plugging, re-perforating, and a variety of downhole mechanical activities aimed at reducing flow restrictions.

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The report gives a thorough overview of the past and present state of the global riserless light well intervention market, and presents a detailed analytical picture of the crucial forces that will influence the overall development of the market over the 2014-2020 period. As such, the report contains a detailed overview of the major drivers, restraints and trends, and an analysis of their impact on the market’s growth projections over the report’s forecast period.

The report combines vast market data that has been accumulated with the help of several primary and secondary research methods and databases, and inputs from industry experts. The data has been cross-checked with multiple sources of information and narrowed down with the help of industry-best analytical methods.

The report also gives a complete account of recent technological developments, an overview of the market’s regulatory scenario, and a review of the macro and micro factors necessary for market vendors to develop effective growth strategies.

The report also gives a thorough account of the competitive landscape of the global riserless light well intervention market, wherein detailed business profiles, SWOT analysis, Porter’s fiver forces analysis, recent developments, and other details pertaining to some of the key vendors in the market have been discussed.

Some of the most influential vendors operating in the global riserless light well intervention market profiled in the report are Sapura Kencana Well Services, FMC Technologies, Helix Energy Solutions Group Inc., Statoil ASA, Aker Solutions, and FTO Services.

Research Report:http://www.transparencymarketresearch.com/riserless-light-well-intervention.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

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Advanced Insulation awarded Queens Award for International Trade

Advanced Insulation staff are today celebrating a Queen’s Award for International Trade, presented on Her Majesty the Queen’s 90th birthday.

The Queen’s Award for Enterprise for International Trade was in recognition of achieving a significant rise in turnover from £20m in 2013 to over £54m in 2015. The growth of the company has been aided by the establishment of manufacturing units in Korea, Kazakhstan, United Arab Emirates and expansion into Brazil and Angola as well as acquiring additional manufacturing facilities in the UK at Plymouth and Nottingham to add to the existing Gloucester headquarters and Leeds production site. The company growth has benefited local economies through investment in facilities and increasing the level of employment.  A strong network of worldwide representation enables Advanced Insulation to solve both company and industry local engineering challenges and enables new product development to meet specific regional project needs.

Commenting for Advanced Insulation, Managing Director Andrew Bennion says: “Winning a Queen’s Award for Enterprise for the third time in four years is a huge honour for Advanced Insulation. We are extremely proud of the award and pleased that the company as a whole is recognised in such a way. A real tribute to the hard work and dedication of all of our staff around the World.”

The Awards were inaugurated in 1966 as The Queen’s Award to Industry. It has since been renamed as The Queen’s Awards for Enterprise and divided into three categories: International Trade, Innovation and Sustainable Development. In 2012 Advanced Insulation was awarded the award for International Trade and in 2013, the award for Innovation. Now as part of Her Majesty The Queen’s 90th birthday celebrations, Advanced Insulation is delighted to be awarded the 2015 Queen’s Award for International Trade

For more information please visit: http://www.aisplc.com

 

Offshore gas exploration projects to fan demand in subsea control systems market

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An uptake in offshore exploration activities will boost the growth of the global subsea control systems market, says Transparency Market Research in a new report. The report is titled, ‘Subsea Control Systems Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth and Forecast 2014 – 2020.’ The tremendous growth potential exhibited by the offshore oil and gas exploration and production industry has benefited the subsea control systems market, and will likely continue to in the near future.

Subsea control systems for an indispensable part of subsea infrastructure, which is deployed for evacuating oil and gas from the offshore drilling site to the storage terminal, which is usually onshore. Seamless logistical co-ordination is a prerequisite at drilling sites, and subsea control systems help meet this end. Such a system would typically comprise well access systems, manifolds, and trees, all installed underwater. These components together help carry out functions such as the injection of water or chemicals into subsea wells and the gas distribution from the network of wells. A suite of proprietary communication protocols and software helps subsea control systems run smoothly. Many of these protocols need to be tailored specifically to the needs of the subsea project.

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With an increased emphasis on deepwater and ultra-deepwater exploration projects, the need for failsafe subsea control systems also increases. The key challenge with deepwater exploration is that production platforms cannot easily be installed in the seabed. This necessitates the installation of a subsea control system instead.

However, manufacturing robust subsea systems is a difficult process and carries a high risk of failure. This could pose a major challenge for companies operating in the subsea control systems market. Investments in the offshore exploration and drilling sector have made this space extremely lucrative for companies in the subsea control systems market.

From the regional perspective, the recently discovered hydrocarbon-rich reserves in the Latin American region will attract more investments from oil and gas exploration companies. This, in turn, will spur the demand for subsea control systems. In Latin America, Brazil will be an especially attractive market. Similarly, Africa is home to numerous unexplored offshore gas wells, which will be exploited in the coming years. On account of this projected development, it is expected that countries in Africa will also show a heightened demand for subsea control systems.

Players that have been profiled in the report to create a clear picture of the competitive scenario are: General Electric Company, Aker Solutions, Zetechtics Ltd., FMC Technologies, HCS Control Systems, KW Ltd., and Cameron International.

The report segments the global subsea control systems market based on the depth of operations into: Deepwater, shallow water, and ultra deepwater. In terms of application, the market for subsea control systems is divided into: Gas production, gas lift injection, oil production, and water injection.

Research Report: http://www.transparencymarketresearch.com/subsea-control-systems-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

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Subsea power grid market research review – opportunities and forecast 2020

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Offshore oil and gas exploration activities need failsafe power supply and in massive quantities at that. This has increased the reliance of exploration companies on subsea power grids, creating a profitable window of opportunities for companies in the subsea power grid market. This report studies the other high-impact drivers that will prompt greater investments in subsea power grids, thus helping the market grow rapidly. The energy requirements of deepwater exploration operations are especially high and critical considering that these operations are typically carried out in harsh conditions.

The growth of the global subsea power grid market is expected to run parallel to that of offshore oil exploration activities across the world. For the purpose of this study, the global subsea power grid market has been segmented based on the source of power generation, components used in the power grid, and geography. By power grid components used, the market has been segmented into variable speed drives, subsea transformers, and switchgears. Likewise, based on the source of power generation, the market has been divided into wind power, captive power, and other sources (mainly tidal).

From the standpoint of geography, markets in the following regions are studied: Asia Pacific, North America, Europe, and Rest of the World.

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Overview of the Global Subsea Power Grid Market

The report projects healthy growth for the global subsea power grid market through the current decade. According to the report’s authors, the increased pace of offshore oil and gas exploration activities in Latin America and Africa are expected to provide a massive push to the overall subsea power grid market. A look at the current market dynamics reveals that exploration companies are currently exploring investment opportunities to invest in power supply solutions for offshore, deepwater locations.

On the subject of market drivers, the report notes that depleting onshore oil and gas reserves have compelled companies to look at offshore reserves – this is expected to augur well for the subsea power grid market. Moreover, the deployment of renewable energy sources at offshore locations improves the feasibility of supplying power through subsea power grids, acting as a driver for the global subsea power grids market.

The report predicts that the growth of the subsea power grid market in North America will grow only marginally but the scenario in Latin America and Africa will be contrasting given the frenzied drilling and exploration activities occurring here. In Europe, as well, investments are flowing into the oil and gas sector in Norway. Ambitious offshore wind farm projects in Europe will also support the growth of the subsea power grid market in this region.

Even so, growth could be hampered by the high operational risks involved in deploying, maintaining, and upgrading subsea power grids. This factor also adds to the cost of deploying subsea power grids, acting against the market’s growth.

Companies Profiled in the Research

The report on the subsea power grid market carries a competitive analysis by profiling the following companies: FMC Technologies Inc., Cameron International Corporation, Aker Solutions ASA, Technip SA, Siemens AG, and General Electric Company.

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Asia Pacific
  • Rest of the World

Research Report: http://www.transparencymarketresearch.com/subsea-power-grid-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

USA-Canada Toll Free: 866-552-3453

sales@transparencymarketresearch.com

http://www.transparencymarketresearch.com/

Bibby Marine Services appoints Stephen Bolton to the role of Operations Director as build progresses on Bibby WaveMaster 1

Bibby Marine Services, owners of the recently commissioned Service Operations Vessel (SOV) for offshore wind farm operators, Bibby WaveMaster 1, has announced a key appointment.  Stephen Bolton has been appointed Operations Director.

Stephen brings a wealth of industry experience to this strategically important role, having worked in the electricity industry for over 20 years. He has worked at both wind farms (including North Hoyle, Barrow, Lynn and Inner Dowsing, Thanet, Rhyl Flats and Gwynt y Mor), and in senior roles at electricity companies such as RWE and Centrica.

Stephen Blaikie, Chief Executive Officer of Bibby Marine Services, comments, “This appointment is a key role in the development of our company. Stephen Bolton is a seasoned professional who will help us to bring our new vessel to market and will work with wind farm operators, ensuring we deliver high quality access and accommodation solutions. He will be involved in the build and the ongoing management of the vessel as well as the strategic development of our business.

Stephen Bolton is highly experienced in the offshore wind sector, having been involved in the construction of the UK’s first offshore wind farm, North Hoyle. His pioneering approach led to a shift-change in Strategic Asset Management, delivering fit for purpose strategies that delivered whole wind farm asset management, as opposed to just wind turbine management.

Drawing on his direct operations experience at several wind farms, his comprehensive grasp of the needs of operators will enable him to deliver the highest levels of customer service.

Insights gained throughout his career made him an early proponent of the concept of the Walk to Work SOV. He explains,  “From early on, I realised the step change in safety and operational efficiencies that could be gained from a properly designed Walk to Work SOV.

“Just as design is critical to the vessel’s success in terms of accommodation and access, I also believe that the ability of the vessel owner to deliver a range of services is vital. The combination of Bibby Line Group’s heritage and the many services it can offer, coupled with the design and build capabilities of Damen, results in a vessel that will be a real game-changer in offshore wind. I am delighted that I am taking a role that is helping to shape the future of offshore wind access.”

Stephen is a Chartered Mechanical Engineer (Leeds) with a Master of Business Administration (Henley). He has also published many thought leadership articles on Offshore Wind Asset management.

For more information please visit: www.bibbymarineservices.com

Stephen Bolton, Operations Director, Bibby Marine Services Limited

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Subsea manifolds industry – innovative approaches and substantial funding drive global subsea manifolds market

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Subsea manifolds are an integral part of subsea production systems. These manifolds enable operators to work in extreme conditions by helping them adapt. The manifolds are designed to accommodate the needs of companies operating offshore, as they ensure optimum production by connecting future subsea wells/tie-back efficiently. Technological developments have allowed several oil and gas operators to make use of subsea technologies for developing reserves of offshore hydrocarbons.

Discovery of Hydrocarbons Offshore Increases Adoption of Subsea Technologies

These technologies have been designed to meet the tough operating conditions in deepwater E&P areas and are customizable depending on the properties of the soil. In the past few years, as a large number of hydrocarbons were uncovered in offshore areas in deep waters, it has propelled the adoption of subsea technologies. The subsea manifolds market is segmented on the basis of application into injection manifolds and production manifolds. Geographically, this market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America.

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Injections Manifolds Segment Emerges as Leader in Overall Subsea Manifolds Market

According to a research report published by TMR, the injections manifolds segment is expected to grow at a significant pace due to the rising number of investments by international companies as they work towards improving oil recovery techniques. For instance, OneSubsea, a key player in the global subsea manifolds market, announced its plan to invest £1.8 million to develop Standardised Modular Injection Systems (SMIS) in March 2016. The research and development for this project will be funded by Scottish Enterprise. This is the first ever collaboration with former divisions of Cameron International Corporation and Schlumberger in conjunction with Scottish Enterprise.

Investments in Innovations to Shape Competitive Landscape of Global Market

OneSubsea reported that the company is working on the development, design, prototype, and testing of Standardised Modular Injection System (SMIS). These systems are likely to use topside deployment systems that will run on electricity and a non-collapsible composite tubing. Such investments in innovations are likely to open new market avenues, inducing the oil and gas production giants to create new jobs and changing the competitive landscape for several players. The other important players in the global subsea manifolds market are Aker Solutions ASA, OneSubsea, FMC Technologies, Inc., Dril-Quip Inc., Subsea 7 S.A., Baker Hughes Incorporated, and General Electric.

Stringent Environmental Laws to Keep Europe at Forefront of Global Subsea Manifolds Market

Geographically, Europe is the largest subsea manifolds market. The considerable share of Europe in the global subsea manifolds market is attributable to the mounting pressure of complying with the template structure to maintain subsea instruments intact. Furthermore, the large reserves of gas in the North Sea and the stringent environmental regulatory framework that demands development of offshore reserves are also expected to contribute towards the growth of the subsea manifolds market in Europe.

Research Report with ToC & Free Analysis:http://www.transparencymarketresearch.com/subsea-manifolds-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

USA-Canada Toll Free: 866-552-3453

sales@transparencymarketresearch.com

http://www.transparencymarketresearch.com/

Applied Acoustics’ Nexus 2 launched

Applied Acoustic Engineering (AAE) chose this year’s Oceanology Conference & Exhibition in London (UK) to launch several new products including a greatly enhanced USBL system.  Nexus 2 is the second generation 2- way digital system designed and produced by the award winning UK based company that takes the performance and features of the popular Nexus USBL system to a new level.  Developed with an emphasis on far greater accuracy whilst positioning over an extended operational range, the Nexus 2 provides a reliable and secure acoustic link with an extremely low susceptibility to interference.

Fundamental to the Nexus 2 system is AAE’s Sigma 2 digital acoustic coding, a proprietary set of bi-directional spread spectrum acoustic protocols devised by the company’s in-house R & D team. These protocols working with a complementary transducer design mean that positional accuracies of up to 0.15% slant range have been achieved.

Alongside the USBL development, AAE also showcased a new series of acoustic beacons to complement the Nexus 2.  Based on the same Sigma 2 protocols, the 1100 Series Beacon has evolved to provide more accurate positioning, very long battery life and now has the addition of data telemetry options when used with the Nexus 2.

For standard positioning and tracking tasks, Nexus 2 is also compatible with AAE’s 1000 Series beacons, 1200A and 1300A Micro beacons, and some of the older AAE ‘tone’ products (900 Series).

For more information please visit: http://www.appliedacoustics.com/

Nexus 2 TransceiverNexus2 Screengrab

 

 

 

 

Electrical submersible pumps market to exhibit 8.94% CAGR owing to rising oil exploration activities

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There are several factors that are leading to an increased demand for electrical submersible pumps, the prominent ones being the rising global investments in brown field and green field projects from exploration and production companies and the rising oil production from conventional and unconventional sources.

The research report segments the global electrical submersible pumps market on the basis of two criteria: application and geography.

On the basis of application, the market has been segmented into onshore and offshore activities. Based on their suitability for onshore or offshore applications, the configuration of ESP systems significantly differs to suit the vastly different operating environments in onshore and offshore sites. In onshore oilfields, for instance, the cost of surface equipment is less as compared to that in offshore oilfields, as the pumping systems in offshore fields are mounted with additional protective equipment. In 2013, the segment of onshore electrical submersible pumps accounted for a dominant share of 76.16% in the global market.

On the basis of geography, the report segments the global electrical submersible pumps market into Europe, North America, Asia Pacific, South and Central America, and the Middle East and Africa. Apart from giving detailed quantitative as well as qualitative data pertaining to key market elements for these regional markets, the report also includes a market attractive analysis of the global electrical submersible pumps market on the basis of geography.

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The report also presents a detailed overview of the competitive scenario of the global electrical submersible pumps market. Baker Hughes Incorporated, Schlumberger Limited, Halliburton Company, Borets Company, LLC, GE Oil & Gas, JSC Novomet-Perm, Torqueflow Sydex Ltd., Weatherford International, and Flotek Industries, Inc. are some of the prominent vendors operating in the global ESP market. Apart from the detailed business profiles of these companies, the report also covers key aspects such as SWOT analysis, recent technological developments, financial overview, and business strategies.

Transparency Market Research has announced the publication of a new detailed market intelligence report that examines the global electrical submersible pumps market. The report states that the market will expand at a healthy 8.94% CAGR over the period between 2014 and 2022. If the predictions come true, the market will expand from a valuation of US$10.6 bn in 2013 to US$16.7 bn by 2022. The report is titled “Electrical Submersible Pumps – Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2014 – 2022”.

The research report presents an expansive account of all major elements of the global market for electrical submersible pumps (ESPs), which are multistage centrifugal pumps that are designed for operating in a vertical position. ESPs primarily find application in the oil and gas industry for handling significant volumes of oil, water, and other heavy liquids in wellbores. These economically designed submersible pumps are designed for oil and water wells that feature output in the range of 200 bpd to 60,000 bpd and are up to 15,000 feet deep.

The market has been segmented into:

ESPs Market: By Application

  • Onshore
  • Offshore

Research Report:http://www.transparencymarketresearch.com/electrical-submersible-pumps-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

USA-Canada Toll Free: 866-552-3453

sales@transparencymarketresearch.com

http://www.transparencymarketresearch.com/

Subsea valves industry – business opportunities and forecasts 2016 – 2023

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The global subsea valves market is expected to grow owning to the increasing offshore oil and gas and subsea projects. Increasing energy demand coupled with declining onshore reserves has forced oil and gas exploration and production companies to increase investment and activities in offshore reserves which, accelerate the demand for subsea valves across the globe during the forecast period.

Subsea valves are used in various oil and gas exploration and production process across the globe. Subsea valves should be able to withstand all fluids that pass through them. These valves are used in marine environments ranging from a depth from shallow to deep and ultra-deep water. The size of valve specified is related to the volume of fluids that need to flow through it. The oil and gas industry is hazardous in nature. Hence, it is governed with various stringent regulations. The equipment used in subsea systems are very expensive, moreover any mishap can lead to environmental degradation and loss of produced fluids and delay in operations. This ultimately effects the earnings of a company. Hence, the valve used for the process should be able to withstand the harsh subsea conditions for safe and reliable operations. The type of valve to be used in a project is predetermined by operator engineers in the planning phase of the project. Then the company place order for valves with specification to the supplier.

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The global subsea valve market can be segmented on the basis of product type and geography. Various types of subsea valves are used such as subsea ball valve, subsea check valve, subsea gate valve, subsea needle valve and others. A subsea ball valve provides the user with a soft seating quarter turn isolation solution. The valve can be used for isolation of chemical and hydraulic fluids. Subsea needle valves are normally used on Christmas trees to isolate gasket test lines and down hole safety valve lines. Subsea gate valves are of various types: rotator gate valves, hydraulic actuated gate valves and manually actuated gate valves (ROV). These valves are suitable for high pressure and high temperature conditions. The use of high pressure and high temperature valves are mainly concentrated in the North Sea and the Gulf of Mexico due to harsh climate conditions. However, these valves also find application in some projects in Asia Pacific. There are several new exploration and production projects planned in regions such as West Africa and Brazil. Majority of investments in the offshore oil and gas industry is in these two regions.

Increasing investment in deep and ultra-deep reserves to fulfill the increasing energy demand and to reduce reliance on onshore reserves, the global offshore oil and gas industry is expected to grow in the forecast period. This will accelerate the growth of various associated industry such as subsea processing systems and subsea valves. Abundant untapped offshore deep and ultra-deep water reserves are expected to provide a great opportunity to the company in the coming year. However, unstable crude oil prices which make certain projects economically non-feasible are expected to hamper the global subsea valves market between 2015 and 2023.

Some of the key players in the global subsea valvesmarketare Oliver Valves Ltd., PetrolValves, BuTech, DAFRAM S.p.A., Perar S.p.A, Flowserve Corporation, Cameron, L.B. Bentley Ltd., and Cortec LLC among others.

Research Report:http://www.transparencymarketresearch.com/subsea-valves-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

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Jee Ltd awarded North Sea decommissioning contract from Tullow Oil

Tullow Oil has awarded a contract to Jee Ltd, the subsea engineering and training firm, to investigate the most appropriate options for decommissioning their Thames area assets.

Awarded in February 2016, the contract relates to the decommissioning of the Horne, Wren, Wissey, Orwell and Thurne fields in the Southern North Sea. In order to decommission these assets, Tullow has submitted decommissioning programmes to the Department of Energy and Climate Change (DECC) which have been approved, along with a joint environmental impact assessment with Perenco (co-operators of the Thames field).

Tullow has asked Jee to review the approach specified in their decommissioning programmes for these assets, and re-define the most appropriate decommissioning options for the subsea sections. The study, due to be completed over the next two months, will assess what infrastructure can be left in situ. In instances where removal is deemed necessary, Jee will look for process efficiency to reduce associated costs. Jee’s assessment will include decommissioning options for the associated components such as mattresses and grout bags.

Jee has significant expertise in offshore decommissioning and in-depth knowledge of the subsea infrastructure in the North Sea from their long-term work with major operators in the region. With experience in assisting operators in providing fully considered studies to determine their decommissioning approach, Jee has also been involved in preparing and submitting derogation cases to DECC for consideration.

Graham Wilson, Head of Late Life at Jee, commented “Leaving subsea infrastructure in situ, also referred to as derogation, can be the best option from a safety, environmental and economical perspective provided no increased risk to other users of the sea.”

Jim Buston, Business Development Manager at Jee, commented “We are delighted to be working with Tullow Oil on a project which has the potential to save them, and indeed the taxpayer, millions of pounds in unnecessary removal of materials. At a time when budgets and spending are being cut across the board, pragmatic approaches to the challenges of decommissioning are of paramount importance. Derogation is just one way which we are working with our clients to look for economically and ecologically more sensible solutions”.

Jee is also hosting a free webinar on innovations and efficiencies in decommissioning on 13th April at 2pm. Visit www.jee.co.uk/knowledge/webinars to register your place now.

Contract training@jee.co.uk or visit www.jee.co.uk to learn more about Jee’s introduction to decommissioning in the North Sea workshop, and planning, executing and managing decommissioning projects in the North Sea course.

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Dynamic positioning systems market – global industry analysis & forecast 2022

Dynamic positioning systems are computer driven system which automatically maintain a vessel’s heading and position with the help of its own thrusters and propellers. It allows a vessel to automatically maintain its balance. Vessels installed with dynamic positioning systems have ability to operate with reliability, positioning accuracy, and safety. Due to which, such systems have been successfully accepted worldwide across various industries and the international maritime organizations such as General Electric Co. and Marine Technologies LLC. However, the deployment of these systems might be restricted due to the previously installed subsea structures on the seabed. But, for certain deepwater production and exploration scenarios, dynamic positioning operated vessels might be the only viable solution due to the length and depth of mooring lines required. Dynamic positioning system includes position reference sensors, combined with motion sensors, wind sensors, and gyrocompasses which provide information to the computer system about the position, magnitude and direction of environment forces in order to maintain vessels position and balance. The dynamic positioning system is also used in combination with mooring and anchoring to form position mooring systems for energy efficiency.

The dynamic positioning system market has been experiencing accelerated growth in recent years due to increase in number of dynamic position vessels like survey vessels, drilling ships, supply vessels, diving support vessels and many more. Moreover, technological improvement and usage of dynamic positioning vessels for offshore drilling by oil industries is also boosting the demand of dynamic positioning systems. But at the same time, lack of competent dynamic position operators and system complexity is restraining the market growth. In addition, installation and operation of a dynamic positioning system are major challenges restraining the DPS market growth. Application of dynamic positioning system in floating production storage and offloading vessel operations creates new opportunities to the dynamic positioning system manufacturer. It is also expected that advancements in the usage of condition-based monitoring systems as a part of vessel maintenance strategies would shape and influence the dynamic positioning system market.

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The dynamic positioning systems market has been segmented by sub-system, by reference system, by equipment type, by application and by region. In terms of the equipment type, the dynamic positioning system market is segmented into equipment class 1, class 2 and class 3. The sub-system segmentation covers thruster systems, power systems, sensors and dynamic positioning control systems. On the basis of reference system, the market is segmented into Artemis, taut wire, differential global positioning system hydro acoustic position reference, and laser based systems. The market is also segmented on the basis of applications, such as merchant vessels, passenger ships, naval vessels, and offshore vessels. Based on the geographic regions, the dynamic positioning systems market is categorized into Latin America, Europe, Middle East and Africa, Asia-Pacific (APAC), and North America. The increasing deep-sea excavations and the rising maritime trade with the Asia-Pacific and Africa regions is boosting the market growth. Moreover, safety operations across deep ocean waters during offshore oil and gas operations is accelerating the demand for dynamic positioning systems in Asia-Pacific region.

Some of the key players in dynamic positioning systems market are Rolls-Royce PLC, Marine Technologies LLC, Kongsberg Gruppen ASA, L-3 Communications corp., General Electric Co.,NORR Systems Pvt. Ltd., Navis Engineering Oy, AB Volvo Penta, and Praxis Automation and Technology B.V.

Research Report:http://www.transparencymarketresearch.com/dynamic-positioning-systems-market.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

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http://www.transparencymarketresearch.com/

HTL celebrate 20 years at the top

HTL, a family run manufacturer and supplier of controlled bolting, flange working and portable machine solutions are celebrating 20 years of success.

From small beginnings in a facility no bigger than a 128sq.ft single garage in Blyth with two employee’s, HTL has enjoyed an incredible journey of growth over the past two decades to become a recognised industry leader serving many sectors.

Founder Ray Jones, employed his Nephew as his first employee in 1996, and today HTL continues to remain a family run business with several family members including Ray holding key positions within the company.

Now with eight global facilities and an extensive product and service portfolio, HTL distributes its product lines to over 40 countries and is considered the largest European independent privately owned supplier to the Controlled Bolting Sector.

It all started by supplying a small range of Hydraulic Torque Wrenches to the Oil and Gas Industry, and has grown to offer a complete range of customer first solutions to a variety of sectors including Power Generation, Renewable Energy, Subsea & Decommissioning, Chemical, Heavy Engineering and the Construction Industry.

With tens of thousands of stock items readily available at HTL’s impressive 65,300sq.ft Cramlington Corporate HQ, coupled with unrivalled bolting expertise, the once small supplier has one of the largest rental fleets in Europe; a true example of their commitment to deliver second to none customer service.

HTL Founder Ray Jones comments: “It has been an incredible journey and the initial enthusiasm and commitment that empowered HTL 20 years ago is just as present as it ever has been with all HTL staff across our global entities.”

To celebrate the occasion, HTL have opened a VIP invitation to visit their Corporate HQ in Cramlington, Northumberland which includes an exclusive tour of HTL’s impressive facilities along with lunch and refreshments. To register your interest please visit http://www.hiretorque.co.uk/vip-invite/.

 

Ray Jones

Underwater monitoring system for oil & gas – rapid rise in offshore deepwater and ultra deepwater is expected to increase the demand for global underwater monitoring system market

Escalating demand for energy along with the need for oil and gas monitoring in underwater application is expected to drive growth in global underwater monitoring systems for oil and gas market. Rising application of underwater monitoring system in deepwater monitoring is likely to augment the growth in the global underwater monitoring systems market. Complexity in the operation and maintenance of the subsea pipelines is anticipated to further boost the demand for underwater monitoring system for oil and gas market.

The global market for underwater monitoring system can be segmented on the basis of application and geography. On the basis of application, the global market for underwater monitoring system can be fragmented as: deepwater monitoring and subsea pipeline monitoring. The global market for underwater monitoring system for oil and gas on the basis of product type can be fragmented as: underwater environmental monitoring devices, underwater robots, unmanned underwater vehicles (UUVs), and remotely operated underwater vehicles (ROVs). The unmanned underwater vehicles can be further sub-segmented into remotely operated vehicles or autonomous underwater vehicles.

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The global market for the underwater monitoring system for oil and gas is likely to increase at moderate rates. Following underlying factors are the key drivers of growth in the global underwater monitoring system market. Market growth in the global underwater monitoring system is driven by the increasing global energy demand. Rapid rise in offshore deepwater and ultra deepwater is expected to increase the demand for global underwater monitoring system market. The increased economic viability of deepwater developments is likely to drive growth in the deepwater monitoring market and thus increase the global demand for underwater monitoring system market.

Emerging application of underwater robots in oil and gas market is expected to augment the market’s growth. The increasing application of underwater monitoring system, including harbor defense and tracking of illegal underwater activities is estimated to propel the global demand for underwater monitoring systems. Furthermore, the application of underwater monitoring system for hurricane monitoring for oil platforms is likely to boost the demand for global underwater monitoring system in the future.

The global market for underwater monitoring system is rising steadily and is likely to register moderate growth in the future. North America is anticipated to play an important role in the growth of the global underwater monitoring system market. North America is expected to hold a considerable share in the global market for underwater monitoring system. Application of underwater robots to monitor gulf oil spill is likely to boost growth of the underwater monitoring system market in the Gulf of Mexico and globally.

Increasing application of unmanned underwater vehicles for inspection, maintenance and repair is likely to further boost growth of the underwater monitoring systems market. Asia Pacific is one of the key markets for the growth of the global underwater monitoring systems. Europe, and the Middle East and Africa are relatively in the nascent or development phase in the global underwater monitoring system market.

The global market players in the underwater monitoring system market are adopting strategies of increasing their global presence, research and development and advent of new technologies. There is also a presence of a large number of players at country level or regional level. Some of the key players in the global underwater monitoring system market include: Teledyne Bowtech Products Limited, OceanServer Technology, Inc., DSPComm, and Kongsberg Maritime AS.

Research Report:http://www.transparencymarketresearch.com/underwater-monitoring-system.html

About TMR

Transparency Market Research (TMR) is a market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.

Contacts

Transparency Market Research

Mr. Sudip S, +1-518-618-1030

USA-Canada Toll Free: 866-552-3453

sales@transparencymarketresearch.com

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