Industry News

The United Kingdom Oil & Gas Authority (OGA) Launched 29th Offshore Licensing round with ‘Innovate License’ Concept

London, United Kingdom:  In order to maximize the recovery from the UK Continental Shelf (UKCS), the United Kingdom Oil & Gas Authority (OGA) has launched 29th offshore licensing round offering more than 1200 blocks to the oil & gas companies. This opportunity will stimulate the drilling and production activities in unexplored areas of mid North Sea high region.

TechSci Research depicts that with growth in oil and gas exploration activities, the market for natural gas compressors is set to expand in near future. Gas transmission applications are typically powered by a reciprocating engine fueled by natural gas.

According to TechSci Research report, “Global Natural Gas Compressors Market By Technology, By Application, By Region, Competition Forecast and Opportunities, 2011 - 2021”, the global natural gas compressors market is anticipated to cross USD 5.5 billion by 2021. On the basis of technology, natural gas compressors are segmented into two categories - positive displacement compressors and dynamic compressors. Among these categories, positive displacement compressors form the most preferred natural gas compressors category, predominantly due to their low cost and increasing use in gas gathering and processing. However, in the recent years, majority of the upstream and midstream companies are inclining towards dynamic compressors due their higher efficiency and low maintenance compared to positive displacement compressors.    

Relevant News