By Alan Souza, Regional Sales Manager, Americas
Strong oil prices, growing orders, and a return to business normality following two years of the pandemic are just three reasons why the team at Sandvik Materials Technology is excited about attending this year’s Subsea Tieback Forum and Exhibition.
Research and consultancy group Wood Mackenzie predicts deepwater activity will dominate oil and gas exploration this year with global investment set to increase 9% to more than $400 billion. That’s good news for the subsea sector, where energy industry consultancy Westwood Global Energy Group is forecasting a bumper year in the subsea equipment market.
As part of the sector’s overall growth, the global subsea umbilicals market size is projected to reach $3.6billion this year, rising to $5.3 billion by 2028.
Taking the Gulf of Mexico as just one example, we see projects that were postponed during the pandemic now coming back on stream. Even the most challenging projects, such as ultra-deep 20,000psi wells and longer subsea tiebacks, are economically viable again.
With demand for materials expected to rapidly increase, how can the subsea supply chain ensure it’s ready with the right products at the right time so customers can maximize new opportunities? How can we continue to deliver solutions that not only meet today’s subsea challenges but also those of the future?
These are just some of the key questions we’ll be exploring on our booth (#601) at Subsea Tieback, which is being held again in the Moody Gardens Hotel and Convention Centre, Galveston, Texas, from March 1-3.
As ever, there will be plenty of focus on the latest developments in umbilical tubes. Increasing operations in deeper waters with higher pressures and temperatures mean tubing has to be able to withstand the most aggressive conditions, which can be beyond the capabilities of thermoplastics. This has created even greater demand for ultra-robust and corrosion-resistant umbilical tubes, including ones made from our SAF 2507® super duplex stainless steel. As a result, we’ve increased production to provide for rising orders.
We’ve been a key supplier of umbilical tubes in the Gulf of Mexico for more than 20 years and our R&D department is continuing to help the industry solve the latest extreme high-pressure challenges. These include developing heavy-walled umbilical tubes in SAF 2507® for 20,000psi projects in the region.
We’ve also been extremely active recently in supplying umbilicals made from SAF 2507® for the high-profile Mero and Buzios major deepwater projects offshore Brazil.
We’re really looking forward to hearing about your umbilical tubing challenges at Subsea Tieback.
Visit us at booth #601 and let’s discuss how we can extend your subsea project possibilities.