The subsea market is recognised as one of the fastest-growing sectors of the international oil and gas industry today, involving the development and deployment of some of the most advanced technology ever created in increasingly challenging environments.
Globally, analysts have suggested that over the next five years capital spending for subsea developments will double in size from about $30bn to between $60bn and $70bn annually, and that within 20 years subsea production will be on a par with traditional offshore oil and gas production.
Today, many of the world's more attractive prospects are to be found in deeper and more remote waters, requiring longer step outs in multiple locations such as offshore Brazil, West Africa and the Gulf of Mexico. However, regions that are generally considered to be comparatively more shallow, such as the North Sea and Asia Pacific, will continue to be extremely important.
As the market continues to grow, so too does the size and scale of the systems now being designed for subsea operations.
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