Fast Market Research recommends "Well Completion Equipment in Middle East 2015-2019" from TechNavio, now available
[USPRwire, Fri Sep 11 2015] Well completion refers to the activities of making a well capable of production. It involves conditioning a well bottom to the required specification. Principally, well completion incorporates steps such as running the production casing and tubing, perforation, assembling sand control systems (gravel packing and screens), placing the liner, installation of the wellhead equipment, and bottom hole production cementing. Wellhead equipment is installed on the surface of the well, which serves as the main pressure control equipment and connection to the bottom hole as the casing strings are suspended. A tubing hanger provides the main support to the production tubing and is situated in the wellhead assembly. The production tubing runs from the tubing hanger to the production zone and provides the main conduit for oil and gas from the production zone to the surface. The packer is placed near the foot of the tubing, above the production zone, and isolates the annulus between the production zone and the production tubing and casing. The perforation guns are used to punch holes in the production tubing and casing to provide a path for the reservoir fluids to flow into the tubing. Intelligent well equipment such as temperature and pressure sensors, transmission systems, and remote control systems are integrated with other well completion equipment to minimize completion fluid and reservoir fluid losses, maintain well integrity, maximize production, and manage reservoirs.
Technavio's analysts forecast the well completion equipment market in Middle East to grow at a CAGR of 4.7% over the period 2014-2019.
Commenting on the report, an analyst from Technavio's team said: "We have noted increased investment in well completion equipment in the Middle East in 2012-2015. Many vendors are investing in offshore completion equipment to reduce fluid losses and oil leakage during the completion process. They are also making investments to counter the adverse effects of completion fluids on marine ecosystems. With an increase in investments, technology will improve, and will reduce the environmental issues and costs associated with the well completion process."
According to the report, the expansion of oil and gas exploration and production activities is likely to stimulate the growth of the well completion equipment market in the Middle East. The growing demand for oil and gas is encouraging increased investments in state-of-the-art technologies to enhance well completion efficiency, and thus ensuring increased oil production. Well completion activities such as acidizing and fracturing ensure the demand-supply balance by enhancing access to oil and gas in tight, and previously inaccessible formations.
Further, the report states that geopolitical issues and tensions prevailing in the region pose a considerable threat to the market in terms of investment and funding for related activities.
The key players in the Well Completion Equipment Market in Middle East are Baker Hughes, Halliburton, Schlumberger, Superior Energy Services and Weatherford International while other prominent vendors include Casewell Services, Crossover, H.P. Well Screen, Patterson Services, Performance Wellhead & Frac Components, Red Spider Technology, TAM International and T I W Corp.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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