Directional Drilling Global Market Leading 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.
Gobal Industry Highlights:-
Directional drilling can be used to reach targets that cannot be drilled with a vertical well. For example, it may not be possible to get a drilling permit for a well located within a populated area or within a park. However, a well could be drilled just outside of the populated area or park and then steered directionally to hit the target.
Discoveries in oil and gas industry along with shale activities and increasing demand for energy and fuel from the growing nations complementing from increased globalization and urbanization are leading drivers of directional drilling market. In 2015, trenchless Engineering Services Pvt. Ltd. installed horizontal direction drill for a gas pipeline, which was laid to a depth of 140 meters below the surface level. However, the low price trends have restrained the projects for directional drilling and many projects had been paused, which are expected to start with recovering oil prices.
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Industry News:-
In August 2017, Greka Drilling Limited, the largest independent and specialized unconventional oil & gas driller in Asia, was awarded two new drilling contracts from PetroChina Huabei Oilfield Limited, a subsidiary of CNPC. The contract for the Fanzhuang Block is for one year with a scope of 16 wells consisting of vertical/directional production wells as well as exploration wells.
In October 2016, GDC contracted the Great Wall Drilling Company Limited to drill directional geothermal wells in Menengai. Under this contract Great wall was expected to drill 16 directional wells in Menengai.
Segmentation:
Based on Services, the market has been segmented into Rotary Steerable Systems, LWD, MWD and Motors. Rotary steerable directional drilling services segment is expected to grow significantly during the forecast period. It is primarily driven by factors like the rising need to access difficult reservoirs. Advantages like high efficiency and lower overall costs of directional drilling foster growth in this segment.
Segmentation by Region: Comprises Geographical regions – North America, Europe, Asia Pacific, Middle East & Africa and South America.
Based on land, the market has been segmented into onshore and offshore. Onshore dominates the technology segment of global Directional Drillings market. Directional drilling is used in more onshore applications due to the high number of maturing fields. Offshore segment is expected to be the fastest growing segment during the forecast period.
On the basis of type, the market has been segmented into Directional boring, horizontal directional drilling, and oilfield directional drilling.
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Global Directional Drilling Market – Regional Analysis
The Europe directional drilling market is expected to be dominated by countries such as U.K, Norway and Russia. The development of unconventional oil and gas exploration activities such as shale, is driving the market in the region. It is expected to contribute significantly during the forecast period.
North America dominates the Directional Drillings market. The U.S. accounts for the largest market share in the North American region. The advancements in unconventional drilling technologies, which have attracted capital for oil and gas drilling projects. Additionally, Vast hydrocarbon resources in the U.S. Shale basins and continuous offshore drilling in the Gulf of Mexico region, are driving the demand of the market.
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