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Deep & Ultra-Deep Water Discoveries Will Increase the Demand for Floating Production Systems in the Americas by 2018: TechNavioLONDON --(Business Wire)-- TechNavio has announced the publication of its market research report on the Floating Production System (FPS) Market in the Americas, which is expected to grow at a CAGR of 24.9 percent from 2014-2018. Increased demand for oil and gas and depleting onshore reserves have shifted the focus towards offshore exploration so as to keep pace with growing energy demands, which is driving the need for more FPS units across the Americas. About the Report The latest report from TechNavio highlights the increase in deep and ultra-deep water discoveries that is expected to add to market growth. Huge energy demands are forcing operators to search for reserves in remote deep and ultra-deep water locations, which can be highly complex, harsh environments. FPS technology is considered the most suitable technology for oil production in deep water and extreme climatic conditions. "Ultra-deep water discoveries in North America, South America and West Africa are expected to trigger huge investments for FPS units and more than 50 percent of global FPS investments will be in deep waters," says Faisal Ghaus, Vice President of TechNavio. "The demand for new FPS units has also increased in accordance with growing oil demand. There are plans to build new FPS units in Brazil, Africa and South East Asia." Key Information Covered in the Report:
TechNavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on floating production systems: If you are interested in more information, please contact our media team at [email protected].
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