DUBLIN--(BUSINESS WIRE)--The "Global Drilling Waste Management Services Market - Analysis of Growth, Trends and Forecasts (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Growing Offshore Drilling Activity to Drive the Market
Since the oil price crisis in mid-2014, offshore activity has declined significantly. However, during 2016-17, owing to stability in oil price, offshore drilling activity has also stabilized. During 2014-17, the break-even oil prices for offshore production have declined significantly. For example, some of the North Sea fields' oil production now breaks even at as low as USD 25 per barrel.
During the forecast period, the offshore oil production cost is expected to further reduce owing to technological development and focus on efficient operations. The oil prices are also expected to witness substantial increase during next five years. Hence, increasing oil prices and lower offshore production break-even costs are expected to drive the offshore drilling activity.
Government regulations in offshore drilling activity are more stringent compared to onshore activity. To meet these regulations, operators have to employ complicated and expensive drilling waste management processes. Hence, growing drilling activity, particularly offshore drilling activity, is expected to drive the drilling waste management services market during the forecast period.
- North America to Lead the Market
- Growing Drilling Activity in India to Drive the Market
Notable Developments in the Market
- January 2018: US Interior Department announced that it will allow drilling in nearly all US waters. This is the single largest expansion of offshore oil & gas leasing by the federal government in the history of the United States.
- January 2018: Total S.A. awarded a three year contract TWMA for providing drilling waste management services in the United Kingdom continental shelf region.
- Augean PLC
- Baker Hughes, a GE Company
- GN Solids Control Co. Ltd.
- Halliburton Company
- National-Oilwell Varco Inc.
- Nuverra Environmental Solutions ORD
- Schlumberger Limited
- Scomi Group Berhad
- TWMA Group Ltd.
- Terra Oilfield Solutions LLC
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Value Chain Analysis
6. Porter's Five Forces Analysis
7. Global Drilling Waste Management Services Market Analysis, by Geography
8. Global Drilling Waste Management Services Market Analysis, by Service Type
9. Key Company Analysis
10. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/b79zm5/global_drilling?w=4