Drilling and Completion Fluids Market – Overview
Drilling
and completion fluids consist of the basic requirements for creating the
procedure for field development after the successful exploration of the oil
field. Large amount of oil is needed as fuel for several industries such as
automobiles, transportation, chemicals, lubricants, and others. For meeting the
demand for fuel, innovations are extensively carried out.
Increased
successful explorations of the oil fields around the world are having a
positive influence on the drilling and completion fluids market. Market reports
associated with the energy and power industry have been presented by Market
Research Future which makes reports on other industry verticals that aims to
analyze the current market scenarios better.
The benefits extended by drilling and controlling fluids such as
transmittal of data and controlling pressure are the key drivers propelling the
market demand. The surge in global discovery activities have influenced the
expansion of the drilling and controlling fluids market positively. Also, the
growing need for a well-maintained and a strategic drilling fluid system is
likely to offer lucrative opportunities for the market over the upcoming years.
Industry Highlights
The benefits provided by drilling and controlling
fluids such as controlling pressure and transmittal of data are the key drivers
of the demand for the market. The increased discovery activities globally have
spurred the expansion of the drilling and controlling fluids market. Moreover,
the escalated need for a strategic and a well-maintained drilling fluid system
is projected to provide significant opportunities for the market for drilling
and completion fluids in the upcoming years.
The
benefits provided by drilling and controlling fluids such as controlling
pressure and transmittal of data are the key drivers of the demand for the
market. The increased discovery activities globally have spurred the expansion
of the drilling and controlling fluids market. Moreover, the escalated need for
a strategic and a well-maintained drilling fluid system is projected to provide
significant opportunities for the market for drilling and completion fluids in
the upcoming years.
Top Manufacturers
· Schlumberger
(U.S.),
· Newpark
Resources Inc. (U.S.),
· China
oilfield services Ltd. (China),
· M-I
Swaco (U.S.),
· Weatherford
International Plc. (U.S.),
· National
Oilwell Varco (U.S.),
· DuPont
(U.S.),
· BASF
SE (Germany),
· AkzoNobel
N.V. (Netherlands),
· Stellar
Drilling Fluids LLC (U.S.),
· Chevron
Phillips Chemical Company (U.S.),
· Scomi
Group (Malaysia), and
·
The Dow Chemical Company (U.S.).
Segmental Analysis
The segmentation of the drilling and completion fluids market has
been carried out on the basis of well type, type and region.
Based on well type, the market of drilling and
completion fluids is segmented into offshore and land.
On the basis of type, the drilling and completion
fluids market has been segmented into water-based systems, oil-based systems,
synthetic-based systems, foams, and other fluids.
The region-based segmentation of the industry
comprises of regions such as Asia Pacific, Europe, North America, and the rest
of the world.
Regional
Analysis
The
analysis based on regions in the drilling and completion fluids market consists
of Asia Pacific, North America, Europe and the rest of the world.
The Europe and Africa markets
which are near the North Sea, dominates a significant share of the market, on
account of the upgraded oil discoveries from these regions. During 2018, the
sources found around Norwegian Sea, Nigeria, Egypt, and the deep-water of U.K.
sector of the North Sea were encouraged to expand their drilling and completion
fluids market in the region. Furthermore, the Asia Pacific market along with the
Middle East market, is trailing the growth of the drilling and completion
fluids market owing to rising exploration activities in these areas. The
presence of massive potential resources in the regions such as Bahrain, South
China Sea, Russia, and Kuwait also drives the market considerably. Besides, the
discovery of several prominent oil fields in Bahrain is likely to further
stimulate the progress of the drilling and completion fluids market in the
region. The increasing demand for oil globally also plays an important role in
driving the development of the market throughout the forecast period.
Industry Updates:
Jan
2019 BHGE’s OFS segment has recently signed a four-year contract to offer drill
bits, drilling services, drilling and completion fluids, completion and
cementing solutions to an important customer in Colombia. BHGE will support
major drilling campaigns through this deal while developing new technology in
partnership with the customer and support conventional operations.
Access Complete Drilling and Completion Fluids Market
Research Report at: https://www.marketresearchfuture.com/reports/drilling-completion-fluids-market-1100
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