The underwater market is progressing with "technological innovation"

2013-09-16 09:00

With the decreasing growth rate of energy production on land and sea and the trend of resource depletion, investment in ultra-deepwater (Subsea) energy drilling/production above 500m underwater has shown a sharp increase. Thanks to cutting-edge technology development projects, the subsea oil and gas field development market is expected to show a compound annual growth rate (CAGR) of 11.9% from 2012 to 2020.

According to Infield Systems, since the beginning of the 21st century, the ability to produce hydrocarbons in ultra-deepwater areas and explore in the Arctic has also improved the recovery rate of existing buried areas, thus making a significant technological advancement in the subsea market.

In particular, regions such as the North Sea and the Gulf of Mexico have successively introduced the most advanced technologies in various fields such as deepwater drilling, production, processing, control, power, and Flowline (:Flexible Pipeline), becoming leaders in this field.

The progress level of underwater technology can be judged from the increasing length of Tieback, which is currently about 17km. The length of Tieback is related to the development of oil and gas fields in deeper and farther waters, and the development project increases, and its length increases accordingly. E&P activities in Brazil, Africa, Australia, and the North Sea are likely to further increase the length of Tieback.

For example, in 1997, the Tieback length of Shell's MC Mensa project in the US Gulf of Mexico was 110km, and then in 2007, the length of Statoil's Snohvit/Albatross project in Norway was 156km.

It is expected that the Tieback length of Chevron's Gorgon project in Australia in 2016 and Woodside's Browse project in 2017 will be extended to 188km and 280km respectively, and the length will further increase over time.

In addition, crude oil Boosting and gas Compression projects are also showing a growth trend, mainly in the North Sea. Especially with the trend of technological development, the Tieback length of Boosting and Compression is increasing, and the water depth is increasing. Conversely, the reservoir pressure and temperature are gradually decreasing.

Xiamen Shipbuilding Heavy Industry has won orders for two ultra-large PCTC vessels.

Our company exports well drilling winches to Russia

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