New Revenue Pocket - Floating Production Systems Market
In recent times, there have been a lot of developments in terms of offshore drilling. The increasing world energy demands have pushed the drilling and exploration companies to venture towards deep and ultra-deep waters. These deep and ultra-deep water drilling activities are carried out using floating production systems. The floating production systems are driving oil and gas exploration and production developments worldwide. The recent deep and ultra-deep water discoveries have been one of the key driving factors for FPS market.
In recent times, there have been a lot of developments in terms of offshore drilling. The increasing world energy demands have pushed the drilling and exploration companies to venture towards deep and ultra-deep waters. These deep and ultra-deep water drilling activities are carried out using floating production systems. The floating production systems are driving oil and gas exploration and production developments worldwide. The recent deep and ultra-deep water discoveries have been one of the key driving factors for FPS market.
Huge investments have been made in offshore oil and gas exploration and production activities by some of the biggest industry players, considering the developments, upcoming potential and demand. Regions such as North America, Europe, and Latin America, have extensive offshore reserves, where the maximum number of offshore drilling and exploration activities are carried out.
The focus on research and refinement of technology helps the companies minimize their cost of operation and maintenance while increasing production, thus, generating great revenues for the companies. Currently, semi submersible, truss spar and TLP are more employed, along with customized hulls. The manufacturing and operations of floating production systems involve huge investments and greater risks. So, to minimise the same, the leading players are signing contract agreements and joint ventures to have expertise in all areas of research and shipbuilding. In addition to this, research activities are conducted to find prospective offshore recoverable reserves at subsea level. These activities have high CAPEX and OPEX where these agreements and joint ventures act as a helping hand for developments.
Samsung Heavy Industries (South Korea) is a well-known shipyard, manufacturing floating production systems that enjoy a majority of the share in this market. It is a forerunner in the shipbuilding sector that provides vessels, tankers, and carriers in drill ships and FPSOs. In order to maintain its market position, Samsung Heavy Industries (South Korea) has an extensive expansion and production strategy.
Related Report:
Floating Production Systems Market By Types (FPSO, TLP, Spar, Barge, Others), Water Depth (Shallow, Deep, and Ultra Deep), Build (New and Converted) & Geography - Global trends and forecasts to 2018
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