South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth to Grow with a robust CAGR through to 2028

Offshore exploration and production activities is expected to drive the South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market growth in the forecast period, 2024-2028. 

According to TechSci Research report, “South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market - By Country, Competition, Forecast and Opportunities, 2018-2028”, the South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market is expected to register a robust during the forecast period, 2024-2028. The demand for efficient subsea umbilical risers and flowlines has increased in line with the expansion of commercial marine trade and operations. The growth in offshore field development, facilitated by technological advancements ensuring safe operations and effective interconnections between top platforms and seabed-mounted wellheads, is a key driver for the global subsea umbilical risers and flowline market's growth.

South America boasts abundant offshore oil and gas reserves, particularly in countries such as Brazil, Venezuela, Colombia, and Guyana. These nations are actively engaged in the exploration and development of their offshore fields, particularly in deepwater and ultra-deepwater regions. The demand for advanced SURF systems, encompassing umbilicals, risers, and flowlines, is steadily increasing to facilitate the extraction and transportation of hydrocarbons. This presents significant opportunities for SURF equipment manufacturers and service providers to meet the escalating demand.

 

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Based on product, Flowlines segment has emerged as the predominant market leader. The liberalization of energy markets in South America, coupled with increased foreign investment, has fostered collaborations between international energy companies and local players. These strategic partnerships contribute to the transfer of technology and promote innovation in flowline systems, thereby enhancing their efficiency and reliability. Meeting local content requirements provides opportunities for domestic suppliers to actively participate in the flowline supply chain, particularly in flexible pipe manufacturing and assembly. Furthermore, the integration of digital technologies and IoT solutions in flowline systems can significantly enhance real-time monitoring, predictive maintenance, and overall operational efficiency. Companies specializing in digital solutions can leverage this opportunity to establish a strong foothold in the market. In conclusion, the flowlines segment of the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) market plays a crucial role in the region's offshore oil and gas production. It is influenced by various factors, including deepwater exploration, technological complexity, environmental considerations, and opportunities for renewable energy integration, innovation, local content participation, and digitalization.

 

Based on type, Shallow Water segment is expected to grow during the forecast period. Shallow water SURF systems are specifically designed for utilization in relatively shallow offshore environments, where the water depth is typically less than 200 meters. These systems play a pivotal role in connecting subsea wells to production facilities, platforms, or onshore processing units. The shallow water regions in South America often harbor accessible oil and gas reserves. These areas are generally more conducive to exploration and development compared to deepwater and ultra-deepwater reserves, thus garnering significant interest from oil and gas companies. There are ample opportunities for expanding existing infrastructure in shallow water regions, encompassing the addition of new wells, risers, and flowlines to prolong the service life of offshore platforms and boost production. Shallow water SURF systems prove to be an optimal choice for developing marginal fields that might have been previously overlooked. By employing the appropriate SURF infrastructure, operators can cost-effectively extract remaining reserves from these fields. In conclusion, the shallow water segment of the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) market presents opportunities for economical oil and gas development, expansion of existing infrastructure, and the exploitation of marginal fields.

 

Major companies operating in South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market are:

• TechnipFMC
• Subsea 7
• Aker Solutions
• National Oilwell Varco
• Siemens Energy
• Prysmian Group
• Oceaneering International
• Baker Hughes
• DOF Subsea
• Saipem

 

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“Brazil is expected to dominate the market during the forecast period. Brazil is actively venturing into offshore wind energy, thereby paving the way for potential growth in the SURF market. The connection of offshore wind turbines to onshore grids necessitates the deployment of subsea infrastructure. Adopting digitalization and IoT technologies can enhance operational efficiency, decrease maintenance expenses, and improve project economics.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market By Product (Flowlines, Umbilicals and Risers), By Type (Shallow Water, Deep Water and Ultra Deep Water), By Country, By Competition Forecast & Opportunities, 2018-2028”, has evaluated the future growth potential of South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in South America Oil & Gas Subsea Umbilicals, Risers and Flowlines (SURF) Market.

 

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