Subsea oil, gas processing to play large part offshore

Processing offshore oil and natural gas production below the waterline will account for a growing share of a total subsea market destined to grow steadily through 2007.At the launch of a government-sponsored initiative to boost the UK subsea industry, Chris Dudgeon, who operates the UK consultancy OTM, reported findings of a new study providing "clear evidence that subsea processing is taking off."OTM conducted the study in association with Douglas-Westwood Ltd., Canterbury, UK, the head of which told the meeting that global spending on all subsea operations would rise from an estimated $17 billion this year to $20 billion in 2007.That presenter, John Westwood, Dudgeon, and others spoke S...

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