PRLog (Press Release) -
Sep 22, 2006 -
Subseaprocessing is poised to grow into an important new business sector. “Subseaprocessing is a true ‘gamechanger’
technology, in that by separating orpressure-boosting wellfluids on the seabed it has the potential to massivelyreduce expenditure on offshore platforms. The logical extension is that in somesituations it may be possible to remove the requirement for the offshoreplatform completely. Subsea processing also presents exciting new opportunitiesfor enhancing production and recoverable reserves.
90per cent of operators want to install“Themost surprising aspect of our study is a complete reversal of Operatoropinion”
said Dudgeon. Only three years ago just 10 per cent of operatorsinterviewed had plans to install subsea processing, but in our new survey 90 percent expressed a view that they would like to install over the next fiveyears.“There is now a narrower interpretation of the benefits of subseaprocessing. Two years ago, it was considered a cure-all for a wide range ofchallenges such as deepwater, long tiebacks, restricted topsides etc. Now,it’s mainly being considered for reducing platform topsides. Operators havedeveloped a realistic approach to where they want to use it and this means thatsuppliers can begin to make the right sort of equipment. The first generation ofsubsea processing concepts are being reinterpreted and developed into newproducts, installed subsea pumps are performing well and reliably and in thelast few years there has been a global uptake of subsea processing.“
Questionedabout what has been holding back deployment of the technology, surveyedoperators emphasised “operator mindset” and perceptions of cost.In 2000,less than 10% of the people interviewed expected to install subsea processingwithin five years. In 2003, this had changed to more than 75% , and more than91% within the next ten years.It now appears that the tipping point has beenreached where the number of subsea processing units installed will begin toincrease rapidly. Over the periodto 2012, $1.6 billion is likely to be spent on 86 subsea processing systems,which in the most favourable conditions could increase to $3.5 billion and over200 systems. Operator opinion has completely reversed over the past three yearsand now 90% have plans to install.The Subsea Processing Gamechanger Report isthe first in a new series of reports that will examine the commercial prospectsfor technologies that show early potential to make a major impact onindustries.The report describes what is driving the interest in subseaprocessing, the technologies of subsea boosting and separation, control &monitoring and power, installation, intervention and system modularity and casestudies. Results of a survey of operators' opinions on subsea processing arereported.Forecasts of the subsea processing market between 2003-2012 arepresented by component and region: in high, most likely and low oil pricescenarios
