Market
Scenario
Well
cementing is the process of filling the cement in the spaces of well bore. It
is one of the most important aspects of the drilling activity and its
completion process. Cementing holds the well, preventing the slurry from coming
out of the walls. The main function of well cementing is to seal the inner line
of the well, control corrosion, and provide uniformity and strength to pipes.
Proper cementing of the well avoids accidents. For cementing of wells,
following procedures needs to be done which include proper laboratory testing
of slurry amount of water present in slurry and other dry mixtures.
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The
well cementing market has more focus on unconventional reserves such as tight
gas, coal bed methane and shale gas. Mergers & acquisitions activities help
companies and service providers survive in the price volatile environment so
that they can manage their debts and sustain in highly competitive market. At
country level, government is also creating favorable policies, investment
initiatives so that private ventures and public companies fulfil the nation’s
energy demand, mutually.
Segmentation
Based
on the type, the global well cementing market is bifurcated into Primary,
Remedial and others.
Based
on the well type, the global well cementing market is segmented on the basis of
onshore and offshore. Offshore oil production holds about 35% share of the
total oil production, globally. Since a few years, deep water and
ultra-deep wells are being explored to increase the production and strengthen
the market. A few unreachable prospects have been achieved due to advancements
in drilling technology, dynamic equipment positioning, cementing units, and
drilling units. However, improvements in technology and services help the
service providers, gain better accessibility to deep-water wells, which are
otherwise difficult to access compared to land exploration and shallow water.
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Regional Outlook
Based
on regions, offshore activities are mostly carried out in North America
including Brazil, and U.S., which have encouraged other countries to increase
their ultra-deep water and deep-water processes. For example, Brazil and United
States together account for about 90% of global ultra-deep-water projects;
expected to grow during the forecast period. In terms of revenue, in the year
2016, the contribution from North America was the highest, with about 38% of
the global share. Moreover, the market is expected to grow further in this
region of with a CAGR of~3.5% during the forecast period. North America has a
plenty of resources in volumes.
Key
Players
The
major key player in global upstream services markets are Schlumberger Limited
(U.S.), Halliburton (U.S.), Baker Hughes Incorporated (U.S.), Trican Well
Service Ltd. (Canada), Weatherford (U.S.), Nabors Industries Ltd (Bermuda),
China Oilfield Services Limited (China), Transocean Ltd. (Switzerland),
Valluorec (France), Tmk (Russia), AES Precast Co Inc, Inc. (U.S.), GOES GmbH
(Germany), GE Oil & Gas (U.S.) and they are highly proficient to give
premium service in the industry.
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