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Zonal Isolation Market 2018: Growth Analysis by Manufacturers, Regions, Product Types and Application

Author : Rahul Sankrityayan | Published Date : 2019-06-11 

The Zonal Isolation Market report research highlights key dynamics of the global sector. The potential of the industry has been investigated along with the key challenges. The current market scenario and prospects of the sector has also been studied.

Zonal Isolation Market size will surpass USD 33 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.

Increasing focus toward the exploration & production of oil & gas fields along with technological advancements to improve the production efficiency will boost the market. In addition, government focus toward enhancing the productivity of mature fields accompanied by increasing offshore drilling activities will complement the industry landscape.

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320 pages

542 market data tables

34 figures & charts

U.S. market will witness growth on account of high potential of untapped oil reserves along with increasing number of drilling rigs across the region. Favorable government initiatives to enhance the production of oil to meet the increasing energy demand will further stimulate the industry growth. In Anadarko, new well oil production per rig increased by 5 barrels per day from January 2018 to February 2018.

Enhanced focus toward deep water drilling activities along with shifting trends toward drilling deep and ultra-deep wells will boost the offshore zonal isolation market growth. In Saudi Arabia, the expansion of deep-water projects and increasing production from Safaniya, Manifa, and Qatif oil fields has been contributing maximum toward the total production. In addition, increasing demand for oil from developing economies will enhance government efforts to explore offshore reservoirs, thereby complementing the business outlook.

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Growth drivers

  • Increasing production from offshore fields
  • Rising focus toward redevelopment of mature fields

 Industry pitfalls & challenges

  • Geopolitical uncertainty
  • Volatile crude oil prices

Mechanical zonal isolation market will witness growth on account of consistent performance of these technologies across various deep-water conditions. Continuous technological advancements to stimulate unconventional reservoirs in an economical & efficient manner and achievement of increased productivity will enhance the business scenario.

Growing industry inclination toward the expansion and optimization of mature wells along with continuous development efforts in the existing isolation technologies to combat the loss of drilling will boost the market. Significant capital investments by major industry players toward redevelopment programs will further stimulate the industry growth.

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The African market is anticipated to grow over 9% by 2024. Steadily rising investments by the global investors and exploration companies toward the potential oil & gas hotspots across the region will positively impact the industry growth. The Ministry of Mineral Resources and Petroleum aims at maximizing investments for the Angolan oil fields through partnership with the Africa Oil & Power. Furthermore, ongoing government efforts to avoid the shortfall of future O&G supply coupled with escalating focus toward the redevelopment of aging fields will encourage the regional outlook.

Increasingly harsh downhole conditions necessitate the advances in isolation technologies along with ongoing research & development efforts to meet the rising drilling challenges will stimulate the chemical zonal isolation market growth. In addition, the widespread applicability across varying range of temperature and pressure conditions along with the ability to provide effective isolation across horizontal wells will further propel the industry dynamics.

Eminent industry players across the industry include Halliburton, National Oilwell Varco, Weatherford International, Archer Limited, Calfrac Well Services, Saltel Industries, and Oceaneering International Limited amongst others.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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