North American Subsea Production & Processing System Market 2018-2023 – ResearchAndMarkets.com

The "North
America Subsea Production and Processing System Market - Growth, Trends,
and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's
offering.

The offshore rig count in North America has declined by more than 60%,
during 2013-17, as a result of low oil prices. During the period, the
offshore oil and gas producers focused on reducing the breakeven oil
price. The offshore breakeven oil prices in the region have reduced
significantly, mainly due to better process efficiency and cost savings
through sustainable exercises, such as major changes in drilling
strategy to optimize the production. With low breakeven oil prices and
recovery in oil prices, the offshore activity in the region is expected
to register significant growth, in turn, driving the market during the
forecast period.

In January 2018, the US government opened the offshore blocks for
exploration & production activity, where the upstream operations were
previously banned. The neighboring fields to these unexplored blocks
have been developed, and hence, significant amount of field data is
available, which reduces the uncertainties involved, and in turn,
increases the likelihood of the commercial production from these blocks.
The government's policy to allow offshore exploration & production in
these blocks is expected to drive the offshore upstream activity in the
country. Additionally, as drilling activity was previously not allowed,
the subsea oil & gas processing system infrastructure is not available
in these blocks. Hence, after the start of the commercial production,
heavy investments for the processing systems in these areas are expected
to drive the market in the country.

Key Developments in the Market

• March 2017: OneSubsea, a Schlumberger company, announced the awarding
  of a project by BP of an Engineering, Procurement, and Construction
  (EPC) contract to supply the subsea production system for the Mad Dog
  2 development in the Gulf of Mexico.

Companies Mentioned

• Baker Hughes A GE Company
• Schlumberger Limited
• Halliburton Company
• National OilWell Varco
• Weatherford International Inc.
• Trendsetter Engineering
• Aker Solutions
• TechnipFMC PLC
• Oceaneering International Inc.
• Drill-Quip Inc.

Key Topics Covered

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Force Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

For more information about this report visit https://www.researchandmarkets.com/research/d6v6l9/north_american?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20180510005592/en/

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