Report: Unconventional Resources to Boost Well Completion Equipment in Middle East
Tech-focused research firm Technavio has published a new report on the well completion equipment in the Middle East, which is expected to grow at a compound annual growth rate (CAGR) of almost 5% from 2015-2019.
Well Completion Equipment Market in Middle East 2015-2019 draws attention to the rise in unconventional oil and gas resources, such as tight oil, shale gas, CBM, and shale oil, which is driven by the decline in the production and exploration of conventional oil reserves. It also accentuates the advances in technologies in the well completion equipment that improve production rates, fuel redevelopment of existing oilfield wells, facilitate higher production from unconventional resources and ensure better well management.
The report focuses on the nations of Saudi Arabia, Iran, Iraq, the United Arab Emirates and Kuwait. Key vendors studied were Key vendors Baker Hughes, Halliburton, Schlumberger, Superior Energy Services and Weatherford International.
“Saudi Aramco has invested $3 billion to develop unconventional gas resources in Saudi Arabia till date. As a result, the market share of oil and gas from unconventional resources is expected to increase significantly during the forecast period,” saidFaisal Ghaus, vice president of Technavio.
Related News
Related News
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- U.S. Moves to Block Enterprise Products’ Exports to China Over Security Risk
- 208-Mile Mississippi-to-Alabama Gas Pipeline Moves Into FERC Review
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Kinder Morgan Gas Volumes Climb as Power, LNG Demand Boost Pipeline Business
Comments