Industry Article: Paving the Way to Improved Subsea Productivity

Unlocking the full productivity potential of subsea developments

Publication: Scandinavian Oil & Gas
Publication Date: 12/01/2003

The first subsea tree was installed in 1961, and in the following 41 years, the industry completed another 2,000 subsea wells. It is estimated that in the next five years, another 2,000 will be commissioned. Total subsea capital expenditures during this period will increase from 34 billion to more than 48 billion USD. The majority of this spending will be in the North Sea and the deepwater Golden Triangle: Gulf of Mexico, Brazil and West Africa. With field productivity and process optimization continuing to drive the oilfield, and an excellent suite of subsea hardware technologies available, it is time to embrace the pivotal role of real-time data—its acquisition and application—in achieving subsea goals.

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