UNDERWATER TECHNOLOGY MARKET SHOWS GROWTH FOR THE FIRST TIME IN FIVE YEARS

1 December 2022

The market of service companies that provide underwater operations at oil and gas fields has shown steady growth for the first time since 2014. Experts predict an increase in the pace of development.

Norwegian Rystad Energy, in its Q2 2019 analysis, notes that nearly all segments of the oil and gas services market have demonstrated growth, including the booming underwater technology segment.

Rystad Energy lists underwater equipment, hosepipes, raisers, and flexible piping among the most efficient, with a growth rate of more than 10% in the Q2 2019. This is already the second quarter with positive indicators after several years of decline, which means that the market conditions have improved. Experts anticipate that 2019 will show growth in the underwater equipment market for the first time since 2014.