North America Subsea Umbilicals, Risers and Flowlines (SURF) Market Trends

North America Subsea Umbilicals, Risers and Flowlines Market Trends

North America subsea umbilicals, risers and flowlines (SURF) industry is set to grow, driven by increasing emphasis on developing deep offshore fields and evolving dynamics in offshore oil and gas exploration. Rising investments in hydrocarbon reserve production and exploration across diverse water depths, coupled with expenditures for maintaining existing infrastructure, will complement the industry's outlook.
 

For instance, in July 2024, Eni's Yopaat-1 EXP well in Mexico's Sureste basin has potentially discovered 300-400 MMboe of oil and gas, reached depth of 2,931 m, encountering USD 200 million of net pay in oil and gas-bearing sands within Pliocene and Miocene sequences. Furthermore, continuous technological advancements, a supportive regulatory environment, and shifting energy dynamics play a pivotal role in augmenting the industry landscape.