DUBLIN--(BUSINESS WIRE)--The "Global Subsea Well Access & BOP System Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Declining Offshore Production Cost - Drives the Market
Since 2015, the offshore spending has been reduced significantly. Though some spending reduction is due to drop in service prices, mainly spending has decreased due to better process efficiency and cost savings through sustainable exercises, such as major changes in drilling strategy to optimize the production.
As a result, about 5 billion barrels of pre-sanctioned offshore oil & gas reserves now break-even at or lower than USD 50 per barrel. The declining offshore production cost is expected to drive the offshore drilling activity during the forecast period, which in turn, is expected to drive the global subsea well access and BOP system market.
Other Key Highlights
- Growing Deepwater Activity - Accelerates Growth
- Lower for Longer Oil Prices - Restrains the Market
- Europe is the Market Leader
- China to Experience Significant Growth
Notable Developments in the Market
- March 2017: OneSubsea, a Schlumberger company, announced the awarding of a project by BP of an Engineering, Procurement, and Construction (EPC) contract to supply the subsea production system for the Mad Dog 2 development in the Gulf of Mexico.
- January 2017: OneSubsea, a Schlumberger company, announced it has been awarded an EPC contract by Statoil, to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Supply Chain Analysis
6. Porter's Five Forces Framework
7. Global Subsea Well Access System Market Analysis, by Type
8. Global Subsea BOP System Market Analysis, by Type
9. Global Subsea Well Access and BOP System Market Analysis, By Geography
10. Key Company Profiles
- Aker Solutions ASA
- Baker Hughes, a GE Company
- Halliburton Company
- Schlumberger Limited
- Weatherford International Plc
- National-Oilwell Varco Inc.
- Oceaneering International
- TechnipFMC PLC
- Kerui Group Co. Ltd.
- Rongsheng Machinery Manufacture Ltd.
11. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/68d29s/subsea_well?w=4