Offshore lubricants are predominantly manufactured from mineral oils. Synthetic lubricants are being widely used as these are compatible with the environment and offer technical benefits over conventional mineral oil-based lubricants. These lubricant products offer high performance with outstanding engine protection, require less maintenance and have greater operating efficiency. Machines and components require a specific type of lubricant as per the operating need.

1. Offshore Lubricants Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast, 2014 - 2020
Published By:
Transparency Market
Research
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2. Report Description
Lubricants are essential for the proper functioning of machines. These are used to reduce friction and
wear and tear in different operating parts of machines. Lubricants offer different properties such as high
viscosity index, high boiling point, corrosion prevention, low freezing point, thermal stability and high
resistance to oxidation. Lubricants also remove any residual deposition over mechanical parts, thereby
increasing their operating lifespan. Lubricants enable smooth operation of mechanical parts and provide
higher efficiency outputs. These are manufactured from base oils. Some additives are used in base oils to
attain desired properties.
Offshore lubricants are predominantly manufactured from mineral oils. Synthetic lubricants are being
widely used as these are compatible with the environment and offer technical benefits over conventional
mineral oil-based lubricants. These lubricant products offer high performance with outstanding engine
protection, require less maintenance and have greater operating efficiency. Machines and components
require a specific type of lubricant as per the operating need.
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3. Scope
The golden triangle constituting the Gulf of Mexico (GOM), Brazil and West Africa is one of the lucrative
markets for offshore lubricants. It provides higher scope for drilling activities compared to other regions in
the world. The golden triangle is rich in deep and ultra deepwater oil reserves, which have attracted high
investments from large oil and gas MNCs. These investments would result in drilling of large number of
wells during the forecast period.

4. Key Players
Key players in the offshore lubricants market include Total S.A., Royal Dutch Shell plc, BP plc, Chevron
Corporation, ExxonMobil Corporation, Sinopec Limited, Gulf Oil Marine Limited and Lukoil Oil Company.
These companies supply lubricants to various ports across the world for usage in offshore rigs and FPSOs.
This ensures that the operations are not hampered.
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