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Oil And Gas Wells Drilling Services Market Global Briefing 2018

Oil And Gas Wells Drilling Services Market Global Briefing 2018

  • January 2018
  • 32 pages
  • ID: 5292847

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The oil and gas wells drilling services industry includes companies primarily engaged in oil and gas wells drilling services for others on a contract or fee basis. This industry also includes contractors specializing spudding in, drilling in, redrilling, and directional drilling. This market covers outsourced drilling services sold on a contract basis to oil and gas extraction companies and does not include any in-house drilling services of oil and gas extraction companies.

Middle East was the largest region in the oil and gas wells drilling services market in 2017, accounting for around 24% market share. Asia Pacific was the second largest region accounting for around 19% market share. Africa was the smallest region accounting for around 6% market share.

Advanced drilling technology services such as geosteering and measurement while drilling technologies (MWD) are aiding companies in drilling process by providing access to real time data. Geosteering technology provides real time information in the form of surveys, imaging studies, 2D and 3D projections of the terrain around the oil reservoir by continuous adjustment of placement of the drill head above the oil well.

Extensive seismic testing is also done using geosteering to test the viability of the terrain for drilling. To monitor the data continuously on surfaces, measurement while drilling (MWD) is used. It is a form of water logging technology which incorporates the measuring tools into the drillstring by further providing real time information to steer the drill.

Unlike conventional logging tools, this technique can be used at extreme angles by encompassing a single module in the drill string. MWD technology uses gyroscopes, magnetometers and accelerometers to determine the borehole information by providing their wellbore position, directional data and the drill bit information.

The data obtained is transmitted to the surface by pulses and electromagnetic telemetry which is further decoded and sent to the offsite location. Companies such as GE, Shell, Exonn Mobil, National Oilwell Varco, Tolteq and BP are investing in these technologies for carrying out drilling activities.

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