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Zonal Isolation Market Size Is Projected To Hit $33 Billion By 2024

Author : Rahul Sankrityayan | Published Date : 2020-10-12 

The zonal isolation market is anticipated to observe exponential growth over the coming time period due rising offshore drilling activities and increased government focus towards the redevelopment of mature O&G fields. Moreover, increasing emphasis on the production and exploration activities, along with a focus on developing advanced technologies to enhance the production of oil and gas wells, will further foster the market outlook in coming years.  

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Favorable regulatory measures to address the growing energy demand, in combination with the substantial potential of the untapped reserves is expected to drive the U.S. zonal isolation market. Moreover, new sanctions to further expand the number of wells drilled across the region will further complement the market growth.

Primary cementing in oilfield applications includes the positioning of the cement between the well casing and the subterranean. The objective of primary cementing is to attain zonal isolation. An effective zonal isolation comprises the creation of a hydraulic obstacle between the casing and the cement and among the cement & formation. It is to be noted that fluid channels within the cement sheath should be avoided.

Notable industry players operating in zonal isolation market include Superior Energy Services, Helix Energy Solutions, Halliburton, Archer Limited, Saltel Industries, Weatherford International, Oceaneering International Ltd., Hunting PLC, and General Electric among others.

As per a research report by Global Market Insights, Inc., zonal solation market is projected to surpass $33 billion by 2024.    

Below is a brief overview of key trends that are stimulating the market growth:

Growing demand for offshore application In Saudi Arabia

Offshore applications are projected to witness immense growth owing to the rising inclination toward deep & ultra-deep-water drilling activities. The increasing production from Safaniya, Qatif, and Manifa oil fields as well as the ongoing development of deep-water projects has been mainly contributing toward the rise of production in Saudi Arabia, creating ample growth opportunities in the region.

Additionally, improved government initiatives towards meeting the region’s increasing energy demand is further impelling the exploration of offshore reserves, encouraging the expansion of market share further.

Rising prominence of mechanical method

Through the mechanical method, the zonal isolation market is likely to grow tremendously owing to the appropriateness of the technologies across the deep-water reserves.

Several ongoing advancements in these technologies to attain increased productivity and to use the reserves that currently exist, in a cost-effective way as well as efficient manner, would positively influence the technology growth in coming years.

Increasing O&G exploration in Africa

The Africa zonal isolation market is likely to grow over 9% over the forecast time period as potential O&G reserves throughout the region are fueling investments from exploration companies, encouraging industry demand.

Moreover, government initiatives to meet the future demand of oil & gas coupled with rising emphasis toward the redevelopment of aging fields will drive the market outlook in the region further. Citing an example, Ministry of Mineral Resource & Petroleum has teamed up with Africa Oil & Power platform to significantly increase the investment activities toward Angolan oil fields.

Meanwhile, several industry players are actively involved in executing strategies that consolidates their position and competitiveness in the market landscape. In fact, in 2018, one of the leading oilfield service providers, Schlumberger, launched the CemFIT Shield system at SPE ATCE (Society of Petroleum Engineers Annual Technical Conference and Exhibition).

The CemFIT Shield system is the industry’s first zonal isolation technology that is designed specially to enhance the isolation among hydraulic fracturing stages in extended horizontal wells. Overall, considering the aforementioned opportunities of growth and the willingness of industry players to actively innovate in the field, the global zonal isolation market is expected to witness tremendous growth in coming years.

More Related News:

Hydrogen Generation Market to hit $160 billion by 2026, Says Global Market Insights, Inc.

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. [email protected] | https://twitter.com/sankritsays

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