Global
Directional Drilling Market - Overview
Directional drilling is the science of
deviating a wellbore along a planned path to a target located a given lateral
distance and direction from vertical. Directional drilling can be used to reach
targets that cannot be drilled with a vertical well. For example, it may not be
possible to get a drilling permit for a well located within a populated area or
within a park. However, a well could be drilled just outside of the populated
area or park and then steered directionally to hit the target.
According to a recent study report
published by the Market Research Future, The global market of directional
drilling is booming and expected to gain prominence over the forecast period.
The global directional drilling market is forecasted to demonstrate an
exponential growth by 2027, surpassing its previous growth records in terms of
value with a whooping, CAGR during the estimated period (2017 – 2027).
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Prominent
Players
Baker Hughes Incorporated (U.S.),
Halliburton Company (U.S.), Schlumberger Limited (U.S.), Weatherford
International plc. (Switzerland), National Oilwell Varco, Inc. (U.S.), Nabors
industries ltd. (Bermuda), Cathedral Energy Services Ltd (Canada), Jindal
Drilling & Industries Limited (India), Gyrodata (U.S.) , and Scientific
drilling international (U.S.) are some of the prominent players profiled in
MRFR Analysis and are at the forefront of competition in the Global Directional
Drilling Market.
Latest
Industry News
In August 2017, Greka Drilling Limited,
the largest independent and specialized unconventional oil & gas driller in
Asia, was awarded two new drilling contracts from PetroChina Huabei Oilfield
Limited, a subsidiary of CNPC. The contract for the Fanzhuang Block is for one
year with a scope of 16 wells consisting of vertical/directional production
wells as well as exploration wells.
In October 2016, GDC contracted the Great
Wall Drilling Company Limited to drill directional geothermal wells in
Menengai. Under this contract Great wall was expected to drill 16 directional
wells in Menengai.
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Segmental
Analysis
Based on land, the market has been
segmented into onshore and offshore. Onshore dominates the technology segment
of global Directional Drillings market. Directional drilling is used in more
onshore applications due to the high number of maturing fields. Offshore
segment is expected to be the fastest growing segment during the forecast
period.
On the basis of type, the market has been
segmented into Directional boring, horizontal directional drilling, and
oilfield directional drilling.
Based on Services, the market has been
segmented into Rotary Steerable Systems, LWD, MWD and Motors. Rotary steerable
directional drilling services segment is expected to grow significantly during
the forecast period. It is primarily driven by factors like the rising need to access
difficult reservoirs. Advantages like high efficiency and lower overall costs
of directional drilling foster growth in this segment.
Segmentation by Region: Comprises
Geographical regions - North America, Europe, Asia Pacific, Middle East &
Africa and South America.
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