Offshore exploration and production activities will fuel growth in the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market from 2024-2028.
TechSci Research’s report “South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market – By Country, Competition, Forecast, and Opportunities, 2018-2028″, robust growth is expected during this period. The demand for efficient subsea umbilicals, risers, and flowlines rises with the expansion of commercial marine trade. Technological advancements ensuring safe operations and effective interconnections between platforms and seabed-mounted wellheads drive offshore field development, fostering the market’s growth.
South America holds abundant offshore oil and gas reserves, particularly in countries like Brazil, Venezuela, Colombia, and Guyana. These nations actively explore and develop their offshore fields, especially in deepwater and ultra-deepwater regions. The increasing demand for advanced SURF systems presents significant opportunities for equipment manufacturers and service providers to meet rising demands.
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In terms of product, the Flowlines segment leads the South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) market. The liberalization of energy markets and increased foreign investment foster collaborations between international and local companies, promoting technology transfer and innovation. Local content requirements create opportunities for domestic suppliers, especially in flexible pipe manufacturing. Integration of digital technologies enhances monitoring and maintenance, offering a foothold for digital solution providers. This segment is vital for offshore oil and gas production, influenced by deepwater exploration, environmental concerns, and renewable energy integration.
Regarding type, the Shallow Water segment is projected to grow. Designed for offshore environments less than 200 meters deep, these systems connect subsea wells to production facilities. Shallow water regions in South America hold accessible reserves, attracting oil and gas companies for exploration and development. Opportunities abound for expanding infrastructure, including adding new wells and flowlines to enhance production. Shallow water SURF systems are ideal for developing marginal fields economically. Overall, this segment offers opportunities for cost-effective oil and gas development and infrastructure expansion.
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 forecasted to lead the market, driven by its expanding offshore wind energy initiatives. This development creates opportunities for SURF market growth, as subsea infrastructure is essential for connecting offshore wind turbines to onshore grids. Embracing digitalization and IoT technologies can boost operational efficiency, reduce maintenance costs, and enhance project economics,” stated Mr. Karan Chechi, Research Director at TechSci Research.
The report “South America Oil & Gas Subsea Umbilicals, Risers, and Flowlines (SURF) Market – By Product, Type, Country, Competition Forecast & Opportunities, 2018-2028” evaluates the region’s growth potential, providing market intelligence for investment decisions. It identifies emerging trends, drivers, challenges, and opportunities in the South America SURF market.
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