Dublin, May 04, 2016 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Managed Pressure Drilling Services Market by Technology (Constant Bottom Hole Pressure, Dual Gradient Drilling, Mud Cap Drilling, Return Flow Control Drilling, by Application (Onshore & Offshore) and by Region - Global Trends and Forecasts to 2021" report to their offering.
The global managed pressure drilling services market is estimated to be at USD 3.81 billion in 2016, and is projected to reach USD 4.60 billion by 2021, at a CAGR of 3.8% from 2016 to 2021.
Managed pressure drilling services are primarily used to control wellbore pressure. The growing energy demand coupled with the maturing onshore oilfields is leading to the requirement for new oil & gas discoveries. Regions such as Africa and Latin America have emerged as attractive prospects for offshore E&P activities, due to their vast unexplored hydrocarbons reserves.
The offshore application of the managed pressure drilling services market is growing at a rapid pace
In terms of application, the offshore segment is expected to have the fastest market growth during the forecast period as managed pressure drilling is preferred in offshore more than onshore because of the high-cost associated with managed pressure drilling. The growth in offshore exploration & recent discoveries in countries such as Angola, Nigeria, and Saudi Arabia and increase in deepwater & ultra deepwater explorations have also contributed to the growth of the market.
North America would continue to dominate the managed pressure drilling services market, but Africa would have the highest growth rate by 2021
Towards the end of 2015, Royal Dutch Shell found 100 million barrels of oil equivalent buried at its Kaikias field in Gulf of Mexico. Offshore drilling activities in the Gulf of Mexico are one of the major reasons for North America being the largest user of managed pressure drilling services. Meanwhile, discovery of new oil & gas reserves in offshore Africa is one of the major reasons behind the growth of the African market, which is expected to grow at the highest rate among all regions.
The presence of international oil companies such as Royal Dutch Shell (The Netherlands), British Petroleum (U.K.), and ENI SPA (Italy) among others has brought in technical expertise into the region. Countries such as Angola, Nigeria, Tanzania, and Mozambique are believed to contain some of the largest offshore reserves in the world.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Managed Pressure Drilling Services Market, By Application
7 Managed Pressure Drilling Services Market, By Technology
8 Managed Pressure Drilling Services, By Region
9 Company Profiles
- Aker Solutions
- Archer Limited
- Baker Hughes Inc.
- Blade Energy Partners
- Eds Group as (Enhanced Drilling)
- Ensign Energy Services Inc.
- Halliburton Company
- National Oilwell Varco
- Schlumberger Limited
- Strata Energy Services Inc.
- Weatherford International Limited`
For more information visit http://www.researchandmarkets.com/research/lffkkp/managed_pressure
Managed Pressure Drilling Services Market 2016 - Global Trends and Forecasts to 2021 - Leading Players are Weatherford International, Schlumberger, Baker Hughes, Halliburton & Aker Solutions
| Source: Research and Markets