Directional drilling market pdf

Directional Drilling Market Research Report- Forecast to 2023

Directional Drilling Market 2018 Global Industry Growth, Size, Share, Trends and Forecasts 2023 Report

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Copyright Š 2018 Market Research Future.

Directional Drilling Market Research Report- Forecast to 2023

1 Summary Global increasing demand for energy has resulted in rapid increase in the offshore drilling activities to meet the increasing demand, which ultimately has provided significant boost to the directional drilling market.

Moreover, increasing need for higher productivity and efficiency of oil drilling process, there has been an increase in the demand for directional drilling. In addition, maturity of onshore drilling sites has led to the exploration of numerous untapped offshore resource sites also fuel the demand of the market.

However, environmental risks and strict government regulations as well as increasing focus on renewable energy may hinder the market growth of the market.

Key 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.

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Copyright Š 2018 Market Research Future.

Directional Drilling Market Research Report- Forecast to 2023

2

Market Overview

Directional drilling is an essential practice carried out by crude oil producers to reach the harshest wells and optimizing the production from the resource land. Typically the well is drilled vertically down in the land which is more prone to the risk of nonproduction and is economically infeasible. The directional drilling provides the solution for drilling of oil wells at multiple angles other than vertical angle and help reach better reserves of oil and gas. Despite the advancements in technology, directional drilling has been the prime area of interest for oil upstream players because of the applications involving this technique, which include drilling at more than one angles in the fields, recovering oil and gas from the untapped source. Furthermore, the process allows the drilling of multiple wells from the parent wellbore, which helps diminish the environmental impacts of drilling. With its advantages in both, onshore and offshore well drilling, directional drilling hold significance in oilfield service business.

Segments

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Copyright Š 2018 Market Research Future.

Directional Drilling Market Research Report- Forecast to 2023

3 Market Research Analysis The global directional drilling market is also expected to have exponential growth by virtue of recovering global oil prices. North America and Europe regions are expected to dominate the market for directional drilling. The regions are observing a large number of oil exploration activities from Gulf of Mexico and North Sea, which will lead more drilling activities in these regions. Besides, the large number of mature oil wells from North Sea in Europe and Permian Basin and Bakken in North America are likely to demand new drilling activities thus, driving the directional drilling market. Africa and Middle East are also expected to witness significant growth over the forecast period due to the growing exploration activities coupled with increasing demand for fuel from growing nations.

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Copyright Š 2018 Market Research Future.

Directional Drilling Market Research Report- Forecast to 2023

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Copyright Š 2018 Market Research Future.