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Subsea umbilical riser flowlines (SURF) is the new method for production of oil & gas. SURF creates connection between surface system and subsea production. Umbilicals are typically used to transmit well data from subsea to the surface and in some cases used to control subsea valves. It enables transportation of services such as electric power, chemicals, telecommunications, and instructions to various subsea equipment. Flowlines are used to transport producing liquids from manifolds to the risers. Risers have a similar usefulness as flowlines. These arrangements of pipelines are available for different distances across extending from under one inch to 10 inches.
COVID-19 scenario analysis:
Oil organizations are progressively exploring oil in far areas from ultra-deepwater, arctic offshore and heavy oil sands as the time conventional oil reserves began to lessen. Global proved oil reserves were 1734 billion barrels at the end of 2019, down by 2 billion barrels versus 2018. Consistent increase in demand for oil & gas over the world is driving the demand for SURF, as its ability to connect subsea production to surface facilities and improve production rate will make its adoption preferable. Increasing investments toward subsea project drive demand for the global subsea umbilical, risers, and flowlines market. However, unstable ecological condition is expected to hinder the market growth rate. The market growth depends on global demand for oil & gas, which is a conventional source of fuel. Deployment of economic renewable energy sources side lines demand for oil & gas, thus is expected to hinder the market growth during the forecast period.
Schlumberger launched the new SpectraSphere fluid mapping-while-drilling service. It is used to deliver downhole fluid composition during drilling with real-time pressure measurements-while-drilling. It is applicable in a variety of environments, from exploration wells to highly diverged development wells. SpectraSphere lowers risks associated with fluid analysis and sampling operations while enhancing well placement, maximizing reservoir contact and ultimately boosting future production.
Rise in discovery of multiple reservoirs of shale oil and gas and rising offshore exploration activities propel the market growth. Increasing population and rise in demand for energy impacts the demand for SURF. Furthermore, growing number of exploitation and discoveries of marginal oil reserves is expected to drive the industry share. For instance, in 2019, a new oil field containing 53 billion barrels of crude oil was discovered in Iran. Rising focus toward digitalization and automation of drilling operations to augment crude oil production rate further boosts the business landscape. Its cost-effective nature enables oil & gas industries to adopt it for production of oil & gas.
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