DUBLIN, May 08, 2015 /PRNewswire/ --Research and Markets
(http://www.researchandmarkets.com/research/p9q3w5/middle_east) has announced the addition of the "Middle East Drilling and Completion Fluids Market by Type, By Application, By Countries - Regional Trend & Forecast to 2019" report to their offering.
The Middle East drilling and completion fluids market is estimated to grow at a CAGR of 5.2% from 2014 to 2019
In the Middle East region, Oman is expected to grow at the highest CAGR of 5.7% during the forecast period. The growth of the drilling and completion fluids market is driven by factors such as increasing drilling footage, increased oil & gas production, continuous rise in global drilling activities, technological developments, and exploration activities for shale gas. However, factors such as environmental impact of drilling fluids & surrounding eco-systems and strict government regulations are some of the restraints of the market. Moreover, development of advanced drilling fluid chemicals is an opportunity for the major players in the Middle East region.
In this report, the Middle East drilling and completion fluids market has been broadly classified by base fluids type, such as water-based fluids, oil-based fluids, synthetic-based fluids, and others. Consumption of water-based fluids will be highest compared to other types of fluids. The consumption of water-based fluids is continuously increasing due to advanced comparable performance & environment-friendly properties of water-based drilling and completion fluids. Countries such as Oman and Saudi Arabia conduct a large number of drilling and exploration activities owing to high energy demand, which is supported by their huge oil & gas reserves.
Geographically, Oman and Saudi Arabia accounted for the largest share in the drilling and completion fluids market in 2014. Factors such as availability of oil & gas, increase in demand for completion fluids, and technological advancements are the growth drivers for the country.
The Middle East drilling and completion fluids market is competitive with the presence of a number of market players with niche technologies. As of 2014, this market was estimated to be dominated by Schlumberger (U.S.), Baker Hughes (U.S.) & Weatherford (Ireland).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Market Overview
5 Middle East Drilling and Completion Fluids Market, By Application
6 Middle East Drilling and Completion Fluids Market, By Type
7 Middle East Drilling and Completion Fluids Market, By Country
8 Middle East Drilling and Completion Fluids: Competitive Landscape
9 Middle East Drilling and Completion Fluids, By Company
- Anchor Drilling Fluids
- Baker Hughes.
- Newpark Resources Inc.
- Tetra Technologies
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SOURCE Research and Markets