Well logging involves the detailed recording of the geologic rock formations that are a part of the reservoir and is penetrated during a drilling operation. The log is generally based on visual inspection of samples brought to the surface (geological logs); or on physical measurements made by instruments brought down into the hole (geophysical logs). There is huge growth in drilling and exploration activities owing to the continuous increase in world energy demand.
These activities are bound to grow further as the world energy demand from oil would reach around 4 GTOE by 2020. This has also put pressure to extract more from each well and thus, further deep exploration is done.Wireline logging helps in efficient and optimized drilling practices.Open hole refers to operations that are performed before the wellbore has been ceased and cemented by the deployment of electric tools into a newly drilled well through the electric line.
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The new reservoir conditions include high pressure, high temperature, and ultra-deep water which require new challenging wireline logging tools and services. Competitors prevailing in the market are challenged to provide innovative solutions, which help consumers address changing technologies and business practices.Logging While Drilling (LWD), Measurement While Drilling (MWD), gamma ray, and nuclear magnetic resonance are some of the logging techniques employed.
Global wireline logging service market exceeded 16 billion dollars in 2014.The open hole segment is expected to grow at a CAGR of 7.7% from 2015 to 2022.
Requirement of recoverable resources and huge demand for energy sources are motivating oil and gas industries to spend money on exploration and production, thereby expediting the open hole wireline logging services trend on a worldwide scale.
Environmental issues and increased seismic activities have slowed down the growth of this market. Developments in technology and increased focus on natural gas production are also expected to surge demand for the wireline logging service market.
Surging demand for intensive R&D has led to the development of sophisticated high-end products, delivered to provide control to meet process requirements and for ease of use.Ban on logging techniques in few countries are also key hurdles for the growth of this market.
On the basis of technology, the industry at large can be categorized into slickline and E-line segments. E-line well intervention services involves a steel armored electric cable capable of transmitting well logging data continuously to the surface. Slickline services market includes the control of sliding sleeves for opening and closing access to zones combined with the replacement of gas lift valves.
The North American market share is about 45% of the global wireline logging services revenue, owing mainly to Canada and US market sizes due to the growing number of wells both in offshore & onshore areas and increasing shale activities in the region.
The new and unconventional recovery of hydrocarbon and its growth are important reasons for the growth of the market. Latin America is expected to witness high growth, mainly because of increasing energy demand, exploration activities, and growing need for logging.
Asia Pacific is also said to witness moderate growth owing to an increase in the pace of oil & gas exploration across this region. Increasing energy demand in India and Brazil willenhance the growth prospects for market.
Some of the major players involved in the Global Cased hole logging services market are Halliburton, Schlumberger, Weatherford International, and Superior Energy Services.Key product development and competent distributive channel are the key factors for competitive advantage. In 2014, Baker Hughes and TMK of Russia agreed to mutually develop integrated well completion solutions.Other leading players include Nabors Industries, Cased-hole Solutions, Expro International Group Holdings, OilServe (UAE), and Pioneer Energy Services.
The report contains comprehensive analysis on:
Global Open Hole Logging Services Market Segments
Global Open Hole Logging ServicesMarket Drivers, Restraints and Opportunities
Global Open Hole Logging ServicesMarket Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Global Open Hole Logging Services Market Current Trends
Competition &Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
Regional analysis for Feed Software Market includes
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
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Rest of Middle East and Africa
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