DUBLIN--(BUSINESS WIRE)--The "Global Wireline Services Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Growth in drilling and oil production activities, declining breakeven oil & gas price, recovery in oil prices, technological advancements, and change in operator's drilling strategy are expected to drive the demand for wireline services during the forecast period.
Oil price crisis after mid-2014 forced operators, worldwide, to cut down on operational costs in order to reduce oil & gas production breakeven price. Some of the offshore oil fields in the North Sea, now break even at as low as USD 25 per barrel. Five billion barrels of pre-sanctioned offshore oil & gas reserves, globally, now breakeven at USD 50 per barrel or lower. The reduction in oil production costs is due to better process efficiency and cost savings through sustainable exercises to optimize the production.
The 29th Licensing Round in the United Kingdom saw the UK Oil and Gas Authority offer 25 licenses for 111 blocks and part blocks to 17 companies. In 2016, 36 exploration wells were drilled in the Norwegian continental shelf, with 18 discoveries made. The growth of resources from these discoveries was about 58 million standard cubic meters of oil equivalent. Most of the discoveries were small and near existing or planned infrastructure. The growing number of exploration and production projects in the major oil-producing countries are expected to drive the wireline services market in the region.
During 2010-2016, Australia's oil consumption declined by about 25%, while oil production remained stable. Gas production and consumption has seen significant growth. During 2009-2016, the gas production in the country almost doubled. Gas consumption during the same year increased by more than 30%. During 2015-2016, Australia's LNG Exports increased by 49%. In 2016, Australia was the biggest LNG exporter in Asia-Pacific region. Major importers of the Australian gas are China and Japan.
- Baker Hughes A GE Company
- Halliburton Company
- Superior Energy Services
- Schlumberger Limited
- SGS SA
- Weatherford International PLC
- Expro Group
- Archer Ltd
- C&J Energy Services Inc.
- Pioneer Energy Services Corp.
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Industry Attractiveness - Porter's Five Forces Analysis
7. Market Segmentation and Analysis
8. Regional Market Analysis
9. Key Company Analysis
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/gpfjsv/global_wireline?w=4