Current Business Affairs Global Offshore Oil & Gas Market 2018

Offshore Oil & Gas Market - Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast To 2025
Market Definition:
Oil and Gas are the major source of the world's energy in the 21st century and are naturally occurring petroleum
products extracted from the earth’s crust used extensively in automobiles, machineries and utility products. The
demand for oil and gas was earlier met through various onshore methods of oil and gas extraction. However, exhaustion
of onshore oil reserves and increasing energy demand, have given rise to offshore techniques.
Offshore production began in 1940's offshore Louisiana and has increased tremendously over last six decades. Offshore
production represents the process of oil and gas extraction that takes place mostly in the seabed and oceans. Oil and gas
are extracted from the wells and transferred through ships and pipelines to refineries. Approximately 30 percent of
world’s oil and gas production is extracted from offshore and is expected to increase significantly over the forecast
period.
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Market Analysis with Latest Growth Factors:
Rising demands for oil & gas, increase in their applications as well as emergence of innovative techniques in offshore
production are the major factors propelling the growth of offshore oil & gas industry. The current market trends for the
offshore oil and gas market includes technological advances for developing oil reserves, well log interpretation and the
development of well-simulation models. Extending the service life span and redevelopment of aging reservoirs as well as
discovery of new oilfields are the opportunities for positive industry growth over the forecast period.
Major Key Players:
The prominent players involved in the development of, airborne wind turbine includes ACCIONA S.A., DeWind Co.,
Fuhrländer AG, Ampyx Power, E-Kite Netherlands BV, EnerKite GmbH, Altaeros Energies, eWind Solutions, Kite Power
Solutions, Ltd., Makani Power, SkySails GmbH & Co. KG, Windlift LLC, Twingtec AG, Omnidea, Kitenergy S.r.l., kPower
LLC, and KiteMill among all the other players. In May 2018, Makani Power produced power for the first time with a 600-
kW energy kite with eight rotors and the wingspan of a small jet airliner. The company has the high-performance carbon
fiber kite which measures 85 ft across, and has eight onboard rotors each of 7.5 feet diameter. The company is carrying
R&D for the system which changes to lift power generation and permitting the kite to produce more electricity than its
consumption will be carried. Other players are similarly involved in research & development, acquisitions, expansions
and collaboration for the strategic growth.