Advanced
drilling technology services such as geosteering and measurement while drilling
technologies (MWD) are aiding companies in drilling process by providing access
to real time data. Geosteering technology provides real time information in the
form of surveys, imaging studies, 2D and 3D projections of the terrain around
the oil reservoir by continuous adjustment of placement of the drill head above
the oil well. Extensive seismic testing is also done using geosteering to test
the viability of the terrain for drilling. To monitor the data continuously on
surfaces, measurement while drilling (MWD) is used. It is a form of water
logging technology which incorporates the measuring tools into the drill string
by further providing real time information to steer the drill. Unlike
conventional logging tools, this technique can be used at extreme angles by
encompassing a single module in the drill string. MWD technology uses
gyroscopes, magnetometers and accelerometers to determine the borehole
information by providing their wellbore position, directional data and the
drill bit information. The data obtained is transmitted to the surface by
pulses and electromagnetic telemetry which is further decoded and sent to the
offsite location. Companies such as GE, Shell, Exonn Mobil, National Oilwell
Varco, Tolteq and BP are investing in these technologies for carrying out
drilling activities.
THE BUSINESS RESEARCH COMPANY EXPECTS THE OIL AND GAS
WELLS DRILLING SERVICES MARKET TO GROW TO $255 BIILLION BY 2021
The
Middle East was the largest region in the oil and gas wells drilling services
market in 2017, accounting for one-fourth of the market share.
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the report at: https://www.thebusinessresearchcompany.com/report/oil-and-gas-wells-drilling-services-global-market-report-2018
According to The
Business Research Company’s Consultant, Nitin Gianchandani, oil and gas drilling companies are increasingly using high-performance
mud motors as a cost-effective alternative for directional drilling operations.
High-performance mud motors are robust high-powered mud motors used for both
directional and vertical drilling in high pressure and temperature environment.
These motors deliver maximum power output for optimal bit performance and well
steerability. They are suitable for drilling zones with broader boundaries,
achieve greater torque, and have an increased rate of penetration (ROP) than
conventional mud motors. High-performance mud motors can result in daily
operational cost savings of more than 50% over rotary steerable systems (RSS).
For instance, high-performance mud motors when used in Thamana formation in UAE
delivered better than average ROP of 8.5 meters/hr.
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sample of the report at: https://www.thebusinessresearchcompany.com/sample.aspx?id=85&type=smp
Schlumberger Limited was the largest
player in the oil and gas wells drilling services market, with revenues of $9 billion
in 2016. Schlumberger’s growth strategies aim at overcoming the prolonged oil
slump by acquiring drilling service providers. In 2016, the company acquired
coiled tubing drilling units from Xtreme Drilling and Coil Services Corp, which
includes 11 coiled tubing units in Saudi Arabia and the USA. It has also
purchased 20% of share in Borr Drilling, a newly established offshore drilling
company based in Norway, for an approximate amount of $220 million, to secure
more drilling activities. The company acquired Cameron International
Corporation, an oilfield equipment manufacturer, in 2016, to enhance its
technology portfolio in the oil and gas wells drilling services market.
The oil and gas
wells drilling services market includes companies primarily engaged in oil and
gas wells drilling services for others on a contract or fee basis. This
industry also includes contractors specializing spudding in, drilling in, re drilling,
and directional drilling. This market covers outsourced drilling services sold
on a contract basis to oil and gas extraction companies and does not include
any in-house drilling services of oil and gas extraction companies.
Oil And Gas
Wells Drilling Services Global Market Report 2018 is a detailed report
giving a unique insight into this market. The report is priced at $4000 for an
individual user. To use across your office, the price is $6000 and $8000 if you
wish to use across a multinational company.
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