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Published Date: 2015-02-27Number of Pages: 115

Subsea Pumps Market (Product - Helico-axial Pumps, Electrical Submersible Pump (ESP), and Centrifugal Pumps; Application - Subsea Boosting, Subsea Separation, Subsea Compression, and Subsea Injection) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020

Offshore projects are highly capital intensive and thus offshore operators employ equipments which would optimize production levels at economical rates. Subsea pumps are primarily employed by offshore exploration and production companies to boost production levels from oilfields in a cost effective manner. The subsea pumps market is highly dependent on the development of offshore hydrocarbon reserves across various regions. With the development of subsea technologies and increasing number of subsea projects, the market for subsea pumps is expected to increase substantially during the forecast period.

 

Subsea pumping is one of the most common methods used to enhance the oil recovery from subsea oil and gas reservoirs. Subsea pumps improve the production economics by increasing flow rates and optimizing the production cycle of oil and gas reservoirs. These pumps are used for water injection into the wells with low reservoir drives, thereby boosting oil production. The use of subsea pumps makes low pressure fields viable and thereby augments the life of existing Brownfield oil and gas reservoirs. Currently, a large number of subsea pumps are installed in the offshore areas of Brazil, deep waters of West Africa, the North Sea, and the Gulf of Mexico. As the quest for recoverable oil and gas reserves extends towards the deepwater and ultra-deepwater reservoirs, subsea pumping and associated technologies are anticipated to benefit in the near future.

 

For this market study, subsea pumps market, based on product segment, is segmented into helico-axial, electrical submersible pump (ESP), centrifugal, and others (twin-screw, hybrid pump, and counter-axial). The helico-axial segment dominated the market in 2013. This type of subsea pumps is most commonly used in oil and gas boosting operations. The helico-axial segment is anticipated to continue to dominate the market and is expected to grow at the highest CAGR during the forecast period. ESPs are considered as an economical and effective means for lifting process fluids from great depths under harsh environmental conditions. ESPs are designed to operate at flow rates ranging from 1,000 barrels per day to 20,000 barrels per day.

 

The market for subsea pumps has also been segmented based on applications into subsea boosting, subsea separation, subsea compression, and subsea injection. Subsea boosting application segment accounted for the largest market share in 2013 and is expected to continue to dominate the global market during the forecast period. In terms of geography, the global subsea pumps market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa (MEA), and Latin America. Latin America dominated the overall subsea pumps market in 2013. This trend is expected to continue during the forecast period. Brazil is one of the rapidly developing countries in Latin America and the country’s government is focusing on the development of infrastructure and subsea technologies. Brazil is among the prominent centers for subsea pumps installation. A stable currency and a political system make the country a perfect choice for investments by exploration and production companies. 

 

Supportive government policies and financial stimulus are likely to augment the subsea pumps market in Brazil in the next four to five years. Moreover, the development of pre-salt reserves in the deepwater basins of Brazil is one of the major factors attracting investments in subsea technologies in the country. Latin America was followed by the MEA in terms of market share in the global subsea pumps market in 2013. Rapid development of subsea production systems for the deployment in deepwater offshore hydrocarbon reserves in the West Coast of Africa has contributed significantly to the subsea pumps installations. This is further strengthened by an increasing focus towards developing shallow water and deepwater hydrocarbon reserves in the Middle East. Large installations of both helico-axial and ESP subsea pumps are planned in the region, which in turn, would drive the market growth in the next few years. These pumps would be used for subsea boosting and subsea separation applications.

 

Key players in the market include FMC Technologies, Inc., Aker Solutions ASA, OneSubsea, General Electric Company, and Baker Hughes Incorporated. The report also profiles market players such as Flowserve Corporation, ITT Bornemann GmbH, SPX Corporation, Sulzer Ltd., and Leistritz AG.

 

 

 

Chapter 1 Preface

1.1 Report Description

1.2 Research Scope

1.3 Market Segmentation

1.4 Research Methodology

 

Chapter 2 Executive Summary

 

Chapter 3 Global Subsea Pumps Market – Industry Analysis

3.1 Introduction

3.2 Value Chain Analysis

3.3 Market Dynamics

      3.3.1 Market Drivers

              3.3.1.1 Need to Boost Production of Existing Offshore Greenfield and Brownfield Oil and Gas Projects

              3.3.1.2 Advancements in Subsea Technologies Ensure Excellent Operational Abilities and High Economic Benefits

              3.3.1.3 Rising Oil and Gas Upstream Expenditures Augment Subsea Pumps Demand Worldwide

      3.3.2 Market Restraints

              3.3.2.1 Plummeting Prices of Oil and Gas Hampers Subsea Pumps Demand

      3.3.3 Market Opportunity

              3.3.3.1 Untapped Potential Oil and Gas Reserves Exploration Accompanied by Newly Discovered Oilfields

3.4 Porter’s Five Forces Analysis

      3.4.1 Bargaining Power of Suppliers

      3.4.2 Bargaining Power of Buyers

      3.4.3 Threat from Substitutes

      3.4.4 Threat from New Entrants

      3.4.5 Degree of Competition

3.5 Market Attractiveness Analysis

      3.5.1 Market Attractiveness Analysis of Global Subsea Pumps Market, by Product Segment, 2013

      3.5.2 Market Attractiveness Analysis of Global Subsea Pumps Market, by Regional Segment, 2013

3.6 Company Market Share Analysis

 

Chapter 4 Global Subsea Pumps Market – Product Segment Analysis

4.1 Global Subsea Pumps Market: Product Segment Overview

      4.1.1 Global Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 & 2020 (USD Million)

4.2 Helico-axial

      4.2.1 Global Helico-axial Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      4.2.2 Global Helico-axial Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      4.2.3 Global Helico-axial Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

4.3 Electrical Submersible Pump (ESP)

      4.3.1 Global ESP Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      4.3.2 Global ESP Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      4.3.3 Global ESP Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

4.4 Centrifugal

      4.4.1 Global Centrifugal Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      4.4.2 Global Centrifugal Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      4.4.3 Global Centrifugal Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

4.5 Others

      4.5.1 Global Others (Twin-screw, Hybrid Pump and Counter Axial) Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      4.5.2 Global Others (Twin Screw, Hybrid Pumpand Counter Axial) Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      4.5.3 Global Others (Twin-screw, Hybrid and Counter Axial) Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

 

Chapter 5 Global Subsea Pumps Market – Application Segment Analysis

5.1 Global Subsea Pumps Market: Application Segment Overview

      5.1.1 Global Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 & 2020 (USD Million)

5.2 Subsea Boosting

      5.2.1 Global Subsea Boosting Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      5.2.2 Global Subsea Boosting Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      5.2.3 Global Subsea Boosting Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

5.3 Subsea Separation

      5.3.1 Global Subsea Separation Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      5.3.2 Global Subsea Separation Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      5.3.3 Global Subsea Separation Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

5.4 Subsea Compression

      5.4.1 Global Subsea Compression Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      5.4.2 Global Subsea Compression Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      5.4.3 Global Subsea Compression Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

5.5 Subsea Injection

      5.5.1 Global Subsea Injection Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

      5.5.2 Global Subsea Injection Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      5.5.3 Global Subsea Injection Market Revenue Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

 

Chapter 6 Global Subsea Pumps Market – Regional Analysis

6.1 Global Subsea Pumps Market: Regional Overview

      6.1.1 Global Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

6.2 North America

      6.2.1 North America Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      6.2.2 North America Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

      6.2.3 North America Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

6.3 Europe

      6.3.1 Europe Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      6.3.2 Europe Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

      6.3.3 Europe Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

6.4 Asia Pacific

      6.4.1 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      6.4.2 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

      6.4.3 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

6.5 Middle East and Africa (MEA)

      6.5.1 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      6.5.2 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

      6.5.3 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

6.6 Latin America

      6.6.1 Latin America Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

      6.6.2 Latin America Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

      6.6.3 Latin America Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

 

Chapter 7 Company Profiles

7.1 Aker Solutions ASA

      7.1.1 Company Overview

      7.1.2 Financial Overview

      7.1.3 Product Portfolio

      7.1.4 Business Strategy

      7.1.5 Recent Developments

7.2 Baker Hughes Incorporated

      7.2.1 Company Overview

      7.2.2 Financial Overview

      7.2.3 Product Portfolio

      7.2.4 Business Strategy

      7.2.5 Recent Developments

7.3 Flowserve Corporation

      7.3.1 Company Overview

      7.3.2 Financial Overview

      7.3.3 Product Portfolio

      7.3.4 Business Strategy

      7.3.5 Recent Developments

7.4 FMC Technologies, Inc.

      7.4.1 Company Overview

      7.4.2 Financial Overview

      7.4.3 Product Portfolio

      7.4.4 Business Strategy

      7.4.5 Recent Developments

7.5 General Electric Company

      7.5.1 Company Overview

      7.5.2 Financial Overview

      7.5.3 Product Portfolio

      7.5.4 Business Strategy

      7.5.5 Recent Developments

7.6 ITT Bornemann GmbH

      7.6.1 Company Overview

      7.6.2 Financial Overview

      7.6.3 Product Portfolio

      7.6.4 Business Strategy

      7.6.5 Recent Developments

7.7 OneSubsea

      7.7.1 Company Overview

      7.7.2 Financial Overview

      7.7.3 Product Portfolio

      7.7.4 Business Strategy

      7.7.5 Recent Developments

7.8 SPX Corporation

      7.8.1 Company Overview

      7.8.2 Financial Overview

      7.8.3 Product Portfolio

      7.8.4 Business Strategy

      7.8.5 Recent Developments

7.9 Sulzer Ltd.

      7.9.1 Company Overview

      7.9.2 Financial Overview

      7.9.3 Product Portfolio

      7.9.4 Business Strategy

      7.9.5 Recent Developments

7.10 Leistritz AG

      7.10.1 Company Overview

      7.10.2 Financial Overview

      7.10.3 Product Portfolio

      7.10.4 Business Strategy

      7.10.5 Recent Developments

List of Figures

 

FIG. 1 Global Subsea Pumps Market: Market Segmentation

FIG. 2 Global Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 3 Value Chain Analysis: Global Subsea Pumps Market

FIG. 4 Brazil Status of Offshore Subsea Pumps and Separation Systems, 2014

FIG. 5 Petrobras Expenditure Plan, 2012 - 2016 (% share)

FIG. 6 Oil and Gas Upstream Expenditure Forecast, 2014 – 2020 (USD Billion)

FIG. 7 Crude Oil Prices 2014 (USD/Barrel)

FIG. 8 Recent Major Oil and Gas Discoveries

FIG. 9 Global Subsea Pumps Market: Porter’s Five Forces Analysis

FIG. 10 Market Attractiveness Analysis of Global Subsea Pumps Market, by Product Segment, 2013

FIG. 11 Market Attractiveness Analysis of Global Subsea Pumps Market, by Regional Segment, 2013

FIG. 12 Global Subsea Pumps Market: Company Market Share Analysis, 2013

FIG. 13 Global Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 & 2020 (USD Million)

FIG. 14 Global Helico-axial Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 15 Global Helico-axial Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 16 Global ESP Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 17 Global ESP Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 18 Global Centrifugal Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 19 Global Centrifugal Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 20 Global Others (Twin-screw, Hybrid Pump, Counter Axial, etc.) Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 21 Global Others (Twin-screw, Hybrid Pump, Counter Axial, etc.) Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 22 Global Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 & 2020 (USD Million)

FIG. 23 Global Subsea Boosting Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 24 Global Subsea Boosting Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 25 Global Subsea Separation Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 26 Global Subsea Separation Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 27 Global Subsea Compression Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 28 Global Subsea Compression Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 29 Global Subsea Injection Market Revenue Estimates and Forecast, by Region, 2013 & 2020, (USD Million)

FIG. 30 Global Subsea Injection Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 31 Global Subsea Pumps Market Revenue Estimates and Forecast, by Region, 2013 & 2020 (USD Million)

FIG. 32 North America Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 33 Europe Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 34 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 35 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

FIG. 36 Latin America Subsea Pumps Market Revenue Estimates and Forecast, 2013 – 2020 (USD Million)

List of Tables

 

TABLE 1 Global Subsea Pumps Market Snapshot

TABLE 2 Market Drivers of Global Subsea Pumps Market: Impact Analysis

TABLE 3 Market Restraints of Global Subsea Pumps Market: Impact Analysis

TABLE 4 Marginal Production and Transportation Costs, (USD)

TABLE 5 Market Opportunity of Global Subsea Pumps Market: Impact Analysis

TABLE 6 Global Helico-axial Subsea Pumps Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 7 Global ESP Subsea Pumps Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 8 Global Centrifugal Subsea Pumps Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 9 Global Others (Twin-screw, Hybrid Pump, Counter Axial, etc.) Subsea Pumps Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 10 Global Subsea Boosting Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 11 Global Subsea Separation Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 12 Global Subsea Compression Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 13 Global Subsea Injection Market Estimates and Forecast, by Region, 2013 – 2020 (USD Million)

TABLE 14 North America Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

TABLE 15 North America Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

TABLE 16 Europe Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

TABLE 17 Europe Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

TABLE 18 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

TABLE 19 Asia Pacific Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

TABLE 20 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

TABLE 21 Middle East and Africa (MEA) Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

TABLE 22 Latin America Subsea Pumps Market Revenue Estimates and Forecast, by Product Segment, 2013 – 2020 (USD Million)

TABLE 23 Latin America Subsea Pumps Market Revenue Estimates and Forecast, by Application Segment, 2013 – 2020 (USD Million)

Global Subsea Pump Market: Overview 

With the growing need to improve the yield of the existing offshore brownfield and greenfield oil and gas projects, the demand for subsea pumps has been experiencing a significant increase across the world. Analysts expect the trend to continue over the next few years, which is likely to reflect positively on the global market for subsea pumps in the near future. 

According to Transparency Market Research (TMR), the worldwide market for subsea pumps, which held an opportunity worth US$0.9 bn in 2013, is likely expand at a CAGR of 7.10% during the period from 2014 to 2020 and reach a value of US$1.5 bn by 2020. 

Global Subsea Pump Market: Trends and Opportunities 

Currently, the advancements in the subsea technologies are having the most prominent impact on the global market for subsea pumps. The rise in upstream expenditures on the production of oil and gas is expected to influence this market in the near future. 

The exploration of newly discovered oilfields and untapped potential oil and gas reserves is also projected to boost this market significantly over the forthcoming years. However, the worldwide subsea pumps market may be hampered by the decreasing prices of crude in the years to come. 

Going forward, helicon-axial subsea pumps are likely to remain the most valued product in this market and subsea boosting will emerge as the prime application area for subsea pumps across the world in the next few years. 

Global Subsea Pump Market: Geographical Analysis 

Geographically, the global market for subsea pumps has been classified into North America, Asia Pacific, Europe, the Middle East and Africa, and Latin America. With Brazil being a prominent center for the installation of subsea pumps, Latin America has surfaced as the dominant regional market for subsea pumps across the world. Researchers anticipate the scenario to remain very much the same over the next few years. The swift infrastructural development and the advancement in subsea technologies are the key driving forces behind the growth of the Latin America market for subsea pumps. 

The Middle East and Africa is also expected to witness a remarkable rise in the market for subsea pumps over the forthcoming years. The increased deployment of subsea production systems in deepwater offshore hydrocarbon reserves situated on the West Coast of Africa is likely to boost the Middle East and Africa subsea pumps market significantly in the near future. The rising deployment of both, ESP and helico-axial subsea pumps, is also projected to drive this regional market’s growth in the years to come. 

Companies mentioned in the research report 

The global market for subsea pumps is fragmented and highly competitive in nature. Players operating in this market focus aggressively on product innovation to achieve an edge over their competitors.

Leistritz AG, Sulzer Ltd., SPX Corp., OneSubsea, ITT Bornemann GmbH, General Electric Co., FMC Technologies Inc., Flowserve Corp., Baker Hughes Inc., and Aker Solutions ASA are some of the leading vendors of subsea pumps across the world. 

Key Segments of Subsea Pump Market

By Product

  • Helico-axial
  • Electrical Submersible Pump (ESP)
  • Centrifugal
  • Others (Twin Screw, Hybrid and Counter-axial) 

By Application

  • Subsea Boosting
  • Subsea Separation
  • Subsea Compression
  • Subsea Injection 

Major regions analyzed under this research report are:

  • Europe
  • North America
  • Latin America
  • Asia Pacific
  • Middle East and Africa 

This report gives you access to decisive data such as:

  • Market growth drivers
  • Factors limiting market growth
  • Current market trends
  • Market structure
  • Market projections for the coming years 

Key highlights of this report

  • Overview of key market forces propelling and restraining market growth
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors
  • An array of graphics and SWOT analysis of major industry segments
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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