Petrobras take home the 2024 OTC Brasil Distinguished Achievement Award for a newly constructed well and intervention development. This allows for the replacement of tethered rigs with more contemporary DP rigs by combining a BOP with real-time riser analysis. When compared to typical rigs, the company claims that this technology reduces costs and emissions by 99% and shortens the period of interventions in shallow-water wells by seven days. It also lessens the impact of anchoring on the seabed. After adjusting with the BOP anchored for this purpose, it should enable rigs operating in deepwater regions to also function in shallow water, particularly crowded or environmentally sensitive offshore areas.
Pelican Energy Partners ("Pelican"), in collaboration with Keith Klopfenstein and Gus Halas, has completed an investment in Axon Pressure Products, Inc. ("Axon"), a stand-alone producer and supplier of pressure control equipment, including BOPs, flow control equipment, and BOP controls. With offices in Houston, Texas, and Houma, Louisiana, Axon has two service centers.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 5545
Published Date: Jan 17, 2024
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing energy demands, Technological advancements, emerging trades, and some of the stringent safety regulations are some of the major market drivers.
The market size of ram BOP is anticipated to attain a CAGR of 3 % over the forecast period, i.e., 2024-2036.
The major players in the market are B.O.P Products LLC., EFC Group, Integrated Equipment Inc., Schlumberger Limited, Baker Hughes Company, NOV Inc., Shenji Group, Jiangsu Sanyi Petroleum Equipment Co., Ltd., UZTEL S.A., AXON Pressure Products, Inc., and others.
The Offshore segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.