The need for oil and gas will continue to grow over the next decades, mainly driven by an increasing standard of living in Asia. At the same time, crude oil production from existing fields will drop over two-thirds by 2035, and must be replaced by new findings.
These facts indicate that there will be a strong need for products for the oil and gas industry for a long time to come. Trends are that more exotic materials are being used in the components, such as Inconel, super-duplex, etc., and this trend will most likely increase.
The oil and gas components are also getting larger and the demands are getting higher, increased surface finish is one example.
- The deep water fields operate at the sea floor down to a depth of ~3,000 meters (10,000 feet)
- The subsea/Christmas tree is the control unit in each well head
- The tree must withstand extreme water pressure up to 10,000 psi (700 bar) and the sour oil and gas require non-corrosive materials, i.e. Inconel