Early production facility market is gaining significant traction owing to rising investment towards the establishment of efficient production platforms and increasing focus on cost management. The behemoths of the oil and gas industry are crafting strategies to extract maximum output with less capital investment in reduced time, which is propelling the adoption of early production facility (EPF) across the globe.

According to Market Research report, the early production facility market is projected to accumulate US $14 billion by the year 2026.

The unprecedented increase in oil prices has amplified spending on oil & gas operations, which in turn is supporting EPF deployment. Moreover, rising number of mature oil fields with deteriorated production capacity will further augment the market outlook. Early production facilities extend a plethora of benefits including early monetization and quick revenue realization. It enables planned execution of future operations by providing real-time data related to reservoir and production capacities. Shifting focus towards cost management and optimizing the production will impel the industry scenario.

The early production facilities are capable of handling a wide range of working conditions including diversified flow patterns, temperature, and pressure. Speaking of capacity, these units can support a range of 1,000 bb/d to 50,000 bb/d. These EPFs are available in the market as turnkey and customized solutions as per the O&G project need. Shifting preference of cost-sensitive customers towards EPFs over centralized processing facilities to enhance their profits will stimulate the market growth.

Based on the component terrain, early production facility market is segregated into flare system, flue gas processing, produced water treatment, oil dehydration desalting & heating, dew point control units, gas dehydration, gas sweetening, two & three phase separation, and others.

Speaking of the application spectrum, the industry is categorized into onshore and offshore. Early production facility market from offshore segment is anticipated to witness significant growth in the upcoming years, owing to increasing investments towards the development of offshore hydrocarbon projects.

Elaborating on the application scope, rising number of depleting and mature onshore O&G sites is facilitating the deployment of early production facilities across onshore applications. These units are installed temporarily to extract remaining 10% resources from the reserves. The use of EPF is commercially more viable as compared to central production facilities, thereby contributing towards the segmental growth.

Considering the regional landscape, early production facility market across North America, Latin America, and Europe is estimated to register substantial gains during 2020-2026, cites the report. Rising production of shale gas in the United States, in consort with substantial production across Norway and Brazil will positively influence the respective regional market trends. Industrial oversupply, along with advancements in drilling technology such as fracturing and directional drilling will further boost the growth of early production facility market.

The major companies operating in early production facility market are OilSERV, Petrocil, Roska DBO, Penspen, TETRA Technologies, CPPE, Global Process Systems, SUEZ, Frames, EN-FAB, SMIP, Weatherford International, Pyramid E&C, Schlumberger, and Expro Group. These market colossuses are investing heavily on research and development with an objective to unleash technologically advanced facilities together with undertaking strategic collaborations to augment product offerings and market footprints.