Drilling and Completion Fluids 2018 Market | Latest Trends and Regional Growth Forecast by Types and Applications 2027

Global Drilling and Completion Fluids Market Information Report by Type (Water-Based, Oil-Based, Synthetic-Based, Foams, and others), by Well type (Land and Offshore), by Application (Drilling, Completion, and Workover), and by Region – Forecast to 2027

Pune, India – April 25, 2018 /MarketersMedia/ —

Global Drilling and Completion Fluids Market – Overview

Intensification of oil exploration activities have given way to the development of the Drilling and Completion Fluids Industry. Focused Market reports connected to the energy and power sector among others lately have been made available by Market Research Future which publishes a report on this sector. The industry is expected to expand with a robust CAGR percent in the forecast period.

The importance of Drilling and Completion Fluids is very vital to the oil and gas sector. The escalation of oil exploration activities around the world have increased the growth potential of the market. Increasing demand for cutting edge drilling technology has led to the growth of the Drilling and Completion Fluids Industry as well. Ultra-deep water offshore resources that are being focused on recently have also been influential for market growth in the forecast period.

Industry Segments

The industry for Drilling and Completion Fluids has been segmented on the basis of well type such as offshore, region and land. On the basis of type, the industry has been segmented into oil-based systems, water-based systems, foams, synthetic-based systems and other fluids. The region wise segmentation of the industry includes regions such as North America, Europe, Asia Pacific and rest of the world.

Detailed Regional Analysis

In the region wise analysis of the Drilling and Completion Fluid Industry includes region such as Asia Pacific, Europe, North America and rest of the world. North America is the foremost region for this industry chiefly owing to amplified exploration activities in Canada and USA. Vast shale gas reserves in the North American region are also resulting in improved offshore activities in this region leading to the boost in the Drilling and Completion Fluids Market.

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Global Competitive Analysis

Competitors who are a part of the industry have devised their corporate strategy blueprint in a way that that can bring the best outcomes for development in the current scenario, while also simultaneously delivering customer value unfailingly. The ability to sustain their competitive edge is one of the main causes fuelling their efforts in this period. The scope for development in the industry appears to be promising through the forecast period. The rising interest for diversification in the industry, has indirectly allowed the players to utilize many prospects available in the industry. This scenario has created opportunities for portfolio improvements along with diversification in the sector, which has improved the scenario for market competitors tremendously in this industry. The organizations in this industry are also trying to enhance and maintain financial liquidity that can be crucial to invest in growth opportunities as and when they become available.

Players in the Drilling and Completion Fluids Market includes comprises of DuPont (U.S.), BASF SE (Germany), Baker Hughes Inc. (U.S.), Halliburton Company (U.S.), The Dow Chemical Company (U.S.), M-I Swaco (U.S.), National Oilwell Varco (U.S.), AkzoNobel N.V. (Netherlands), Weatherford International (U.S.), Chevron Phillips Chemical Company (U.S.), and Scomi Group (Malaysia) among others.

Industry Update:

Mar 2018 Schlumberger which is into Oil services has secured a contract from Petro Kouilou, which is Anglo African Oil and Gas’ subsidiary to deliver support services for the drilling of the TLP-103 well on the Tilapia oil field in the productive Lower Congo Basin. The Anglo African drilling operations at the well are set to start in June. Under the terms of the contract, Schlumberger will deliver services such as wireline, mud logging services, casing accessories, cementing services, drilling and completion fluids / WBCO, as well as drilling bits. The firm will also provide completion BHA components, completion equipment and qualified engineers, casing liner hanger, TCP (perforating guns), as well as DST operations.

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