Technavio Publishes Floating Production Storage And Offloading Market Analysis And Forecast 2015-2019
London UK (BUSINESS WIRE) - Technavio, a tech-focused research firm, has published a new report on the global floating production storage and offloading market, which is expected to grow at a CAGR of 13% from 2015-2019.
The latest industry analysis report by Technavio emphasizes the various advantages of floating production storage and offloading (FPSO)that are expected to boost market projections during the forecast period.
FPSO vessels are particularly effective in remote or deepwater locations where seabed pipelines are not feasible. These vessels eliminate the need to lay expensive long-distance pipelines from the oil well to an onshore terminal.
“When the field is depleted, the FPSO unit can be moved to a new location, which is an added advantage of this type of production system,” says Faisal Ghaus, Vice President of Technavio.
“FPSO units can also operate in harsh environments, as they can release their mooring turret and navigate to safety in emergencysituations.”
The new Technavio report also draws attention towards an increase in deep and ultra-deep water discoveries. The oil industry is quickly moving towards deepwater extraction in response to dipping production from onshore and shallow water oil wells.
Technavio currently has more than3000 market research reports on a huge range of topics, including:
- Drill Collars Market in the Oil and Gas Industry in Middle East 2015-2019
- Global Pressure Pumping market in the Oil and Gas Industry 2015-2019
About Technavio
Technavio is a leading global technology research and advisory company. Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling toolsand proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across thevalue chain, including vendors, service providers, distributors, re-sellers, and end-users.
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