Advanced Oil and Gas Exploration and Downhole Technologies: Global Markets to 2021
Publish Date: May 2019 | Category: Energy & Power | Publisher: BCC Research | Status: Publish
The global market for advanced exploration and downhole technology reached $163.2 billion in 2015. This market is estimated to reach $233.4 billion in 2021 from $175.8 billion in 2016 at a compound annual growth rate (CAGR) of 5.8% for 2016-2021.
This report is divided into 10 chapters. Chapter 1 identifies the study’s goals and objectives, reasons for doing this study, information sources, methodology and the analyst’s credentials.
Chapter 2 provides a summary of the report, including a summary table and summary figure.
Chapter 3 presents the market and technology background, describing the importance of advanced oil and gas exploration and downhole technologies in relation to the more traditional practices, including a brief history and important indications for the industry.
Chapter 4 presents the market for advanced oil and gas exploration and downhole technology by type, including seismic, geophysical, drilling, completion, artificial lift, revitalization/rejuvenation of old, abandoned fields, and abandonment/decommissioning and waste management.
Chapter 5 details the demand by end user by oil type, gas company and region.
Chapter 6 presents the demand by application in finding (i.e., discovery and imaging), reaching the reserves, recovery of the reserves, and abandonment/decommissioning and waste management.
Chapter 7 presents the demand by region, including North America, Europe, Asia-Pacific and the Rest of the World. An in-depth quantification of advanced exploration and downhole expenditures by region includes forecasts to 2021.
Chapter 8 presets the patent overview and new technological development impacting the industry. This section is particularly important to this discussion of the oil market, as no nation can enjoy long-term energy security without innovation, and international stability cannot be secured without establishing mutually beneficial economic cooperation rooted in technology development.
Chapter 9 presents an analysis of the market opportunities, along with the industry structure, concentration factors, market leaders and their performance. It also presents important strategies for staying competitive and important shifts in the industry. Trade practices, concentration factors, company earnings and changes are assessed. Other aspects covered in this section include pricing economics and purchasing influences.
Chapter 10 provides the company profiles, including contact addresses, websites, and telephone and e-mail contact information of selected companies involved in advanced oil and gas exploration and downhole technology.
- 94 data tables and 94 additional tables. - An assessment and evaluation of the demand for advanced exploration and new downhole techniques for oil and gas production. - Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021. - An overview of the importance of advanced exploration and new downhole techniques in relation to the overall global and U.S. economies. - Evaluation of environmental and energy regulations and their impacts on the market. - The structure of the industry and competitive aspects. - Market segmentation and fragmentation, channels of distribution, pricing economics, and purchasing influences. - Profiles of major players in the industry, including: Dawson Geophysical Company, Fugro NV, Mitcham Industries, Petroleum Geoservices ASA (PGS), Polarcus Ltd., Schlumberger WesternGeco, SeaBird Exploration, Helmerich and Payne.
The global market for advanced oil and gas exploration and downhole technology will increase at a compound annual growth rate (CAGR) of 5.8% to reach $233.4 billion in 2021.
Using advanced 3-D and 4-D (time-lapse) seismic exploration techniques in conjunction with technologies such as portable X-ray fluorescence (XRF) analyzers, hydraulic fracturing and horizontal drilling, resources including abandoned/old pressure-depleted wells, tight oil, shale gas, shale oil, tight gas and coal bed methane have completely transformed the U.S. energy landscape by facilitating access to reserves that were previously unavailable. This success in the U.S. with unconventional resources and marginal reserves has prompted other countries to reconsider developing their own unconventional and marginal resources and assessing how soon this can be achieved. Development of super-strong alloys allow drill bits to go into high-temperature, high-pressure fields. Other advances include logging while drilling, horizontal/directional drilling, “smart” drill bits and miscible methods for enhancing oil recovery. Exploration for new sources of oil and gas has always been the primary strategy of the oil industry but digging and recovering more efficiently is perhaps of greater importance when finances are stretched, and untested areas are riskier. Producers are instead faced with three options: - Increase production from existing assets. - Monetize known reserves. - Reduce exploration and production costs.
Advanced exploration and downhole technology are redirecting the search, identification and recovery of bypassed oil and gas, thus ensuring higher productivity to be coaxed out of mature, old, dormant/abandoned and pressure-depleted fields and enabling the monetization of stranded reserves.
Explorers have succeeded in applying advanced downhole technology in squeezing costs, and as a result, will be able to add an estimated 10 million barrels of oil per day to the global supply by 2025 at less than the $60 Brent crude price. Up to 13 million barrels of oil per day of capacity is needed by the world through 2025, with an additional 11 million barrels of oil per day, to meet rising demand and to address declining production in oilfields currently in production. Companies are therefore redirecting resources to extend the lifespan of existing assets. With the recovery rate of conventional oil reserves averaging just 30% to 35%, advanced tertiary or enhanced oil recovery technologies could ultimately free up to 60% or more of conventional reservoirs’ resources. This is typically carried out through downhole technologies such as horizontal/directional drilling, and the injection of steam, gas such as CO2, or additional chemicals into the well. The cost of oil production tends to rise because the oil that is the least expensive to extract is removed first.
Table of Contents
Chapter 1 INTRODUCTION Study Goals and Objectives Reasons for Doing This Study Scope of Report Information Sources Intended Audience Methodology Regional Breakdown Analyst's Credentials Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background Classification of Petroleum Resources Stages Split in the Oil and Gas Industry Site Development for the Oil and Gas Production Fields Contractor Activities Utilities Upstream Oil and Gas Lifecycle Main Steps Involved in Oil and Gas Field Development Implementation, Development and Innovation Along Lifecycle Phases of a Petroleum Reservoir Industry Overview Energy Return on Energy Invested in Major Petroleum Resources Old Conventional Oil New Conventional Oil Biofuels Global Oil Production by Field Maturity Green Fields Mature Fields Revitalized/Rejuvenated Old, Dormant/Abandoned and Pressure-Depleted Fields Market Capitalization of Oil and Gas Segments Before and After the Oil Price Crash Global Capital Expenditure Trends for Publicly Traded Companies "Traditional" Versus Advanced Technologies Offshore and Onshore Drilling Performance When Oil Prices Tumble Conventional Versus Unconventional Sources Onshore Versus Offshore Relationship Between Geologic/Engineering and Seismic Properties Upstream Oil and Gas Activities, Services and Equipment at Oilfields Application Strength of Advanced Exploration and Downhole Technology Production and Weighted Average Observed Decline Rates by Size and Field Type Conventional Giant Fields Oil Production Shares and Annual Depletion Rates Technically Recoverable Oil Reserves Top 10 Major Oil and Gas Discoveries, 2013-2016 Importance of Advanced Exploration and Downhole Technologies Advanced Exploration and Downhole Technologies in the Oil and Gas Industry Industry Performance National Oil Companies and Part National Oil Companies Performance Comparison of Pre- and Post-Oil Price Collapse Performance of Exploration and Production and Oilfield Service Companies Oilfield Service and Equipment, Exploration and Production, and Decommissioning/Abandonment Expenditures Global Exploration and Production Spending Service Capabilities of Main Exploration and Appraisal Drilling Contractors Service Capabilities of Main Seismic Companies Global Exploration and Production Spending by Sector Exploration Production Global Exploration and Production Spending by Shore Onshore Offshore Exploration and Production Spending by Region Global Oilfield Services and Equipment Spending Oilfield Equipment Expenditures by Sector Oilfield Services Expenditures by Shore Decommissioning and Well Abandonment Expenditures Offshore Decommissioning and Abandonment Expenditures by Region Capital Spending by Major Oil and Gas Companies Effect of Reduced Crude Oil Prices on Capital Expenditures Advanced Exploration and Downhole Techniques and Measurements Global Macroeconomic Overview Global Crude Oil Price Forecast Regional Crude Oil and Natural Gas Price Forecast Regional Crude Oil Price Forecast Regional Natural Gas Price Forecast U.S. Dollar Strength in the Oil and Gas Industry Oil-Related Sovereign Wealth Funds Africa Middle East Latin America Western Europe And North America Eastern Europe and Eurasia Average Crude Oil Price Required for Budgets to Break Even by Type of Oil and Play Frontiers Middle East U.S. Shale Offshore Shallow Water Offshore Deepwater Natural Gas Production Cost Well Costs and Well Efficiency Oil Fields Gas Fields Offshore Field Onshore Field Drilling Well Efficiency Improvement Using Advanced Exploration and Downhole Technology Cumulative Number of Wells Drilled by Company Horizontal Well Applications Horizontal Versus Vertical Rig Counts Trends in Declining Crude Prices and Rig Count Changes Effect of Real Crude Oil Price Changes on Rig Count by Region and Shore Rig Count Response to Past Episodes of Declining Real Crude Oil Prices Drilling Rig Utilization Abandonment/Decommissioning and Waste Management Global Crude Oil Reserves/Production Shares and Annual Depletion Rates Russia Versus Saudi Arabia Employment and Unemployment Regional Job Cut Breakdown Employment Mix Change in Employment Mixes Working Conditions Earnings Labor Productivity Industry History Addition of Oil to the Global Energy Mix Advanced Exploration Advanced Downhole Technology
Chapter 4 Market Breakdown by Technology Type Advanced Exploration Technology Advanced Exploratory Drilling Video Inspections Geochemical Surveys Satellite Imagery for Oil and Gas Exploration Seismic Geophysical Logging Advanced Downhole Technology Demand for Drilling and Completion Technology Recovery Technology Well Intervention Technology Global Demand for Waste Management Technology Global Demand for Decommissioning/Abandonment Technology Technology Application Envelopes Enhanced Oil Recovery Versus Hydraulic Fracking In Situ Versus Mining Oil Sands Vertical Versus Horizontal Wells Single Versus Multi-Well Pads Increased Rig Productivity Due to Zipper Fracking and Stacked Laterals in Shale Plays Downhole Motors Versus Rotary Steerable System Synthetic Versus Nonsynthetic Drilling Fluids Ultra-Deepwater Exploration Versus Development Drilling Conventional Versus Enhanced Oil Recovery Plug and Perforation Versus Sliding Sleeve Technology Driven Productivity Along the S-Curve Improvements Due to Advanced Exploration and Downhole Technologies Advanced Technologies that Will Help Shape the Changing Oil and Gas Landscape Technology Significance Technology Leadership Global Research and Development Spending North America European Union Asia-Pacific RoW Global Oil and Gas Research and Development Intensity Global Oil and Gas Research and Development Spending, by Company Cluster Type
Chapter 5 Market Breakdown by End User Demand for Advanced Oil and Gas Exploration and Downhole Technology End Use by Company Cluster National Oil Companies Oil and Gas Service Companies Majors International Oil Companies Independent Oil Companies Demand for Seismic Crew Counts by Region North America Europe Asia-Pacific RoW Demand for Drilling Rig Counts by Region North America Europe Asia-Pacific RoW
Chapter 6 Market Breakdown by Application Demand for Advanced Exploration and Downhole Technology by Lifecycle Stage Demand for Finding of Reserves Demand for Seismic Crew Counts by Region Offshore Land Offshore Demand for Subsea Well Startups by Region North America Europe Rest of the World Conventional Petroleum Discoveries Gaseous Hydrocarbons Liquid Hydrocarbons Demand for Reaching the Reservoir Land Drilling Rigs Offshore Drilling Rigs Drilling Rig Productivity Demand for Recovery from the Reservoir Primary Production Secondary Production Tertiary Production Infill Recovery Reservoir Optimization Demand for Abandonment/Decommissioning and Waste Management Abandonment/Decommissioning Waste Management
Chapter 7 Market Breakdown by Region Demand for Advanced Oil and Gas Exploration and Downhole Technology by Region North America Europe Asia-Pacific Rest of the World
Chapter 8 Patent Review and New Developments Patent Application Filings in the Energy Industry Patent Enforcement Litigation Technology Impact Important New Developments New Development Approaches New Material Development
Chapter 9 Market Opportunities Operator-Service Company Relationships to the Integrated Alliance and/Structure Market Penetration Advanced Exploration Market Penetration Downhole Technology Market Penetration Oil and Gas Exploration and Recovery Company Performance Cost Cutting Seismic and Geophysical Company Performance Integrated Majors and Large Independent Company Performance Oilfield Service Company Performance Drilling Company Performance Construction Company Performance Profitability Competitive Rates for Producing a Barrel of Oil and Gas North America Western Europe Eastern Europe and Eurasia Asia-Pacific Middle East Latin America Africa Comparing Onshore Versus Offshore Crude Oil Production Costs Effect of Oil Price Drop on Companies' Cash Flows Expenditure Reduction Needed for Near-term Budget Balance Key Cost Reductions and Efficiency Improvements Drilling Efficiency Gains Increasing Lateral Lengths Major Oil and Gas Company Deals Global Oil and Gas Sector Mergers and Acquisitions Upstream Oil and Gas Mergers and Acquisitions Initial Public Offerings Exploration Service Key Competitor Landscape Seismic Market Versus Overall Exploration and Development Oilfield Service Market Concentration Oilfield Service Key Competitor Landscape Players in Oil Recovery Market Concentration Offshore Drilling Market Concentration Offshore Drilling Player Participation Market Share Players in Offshore Drilling Ranked by Market Share Players in Offshore Drilling Technology Sophistication Players in Offshore Drilling New Builds Customer Concentration in Offshore Drilling Players Major Customer Alliances
Chapter 10 Company Profiles Seismic and Geophysical CGG DAWSON GEOPHYSICAL COMPANY FUGRO NV ION GEOPHYSICAL CORP. MITCHAM INDUSTRIES INC. PETROLEUM GEOSERVICES ASA POLARCUS LTD SCHLUMBERGER WESTERNGECO SEABIRD EXPLORATION TGS NOPEC GEOPHYSICAL COMPANY ASA Drillers: Onshore Land HELMERICH & PAYNE INC. NABORS WELL SERVICES CORP. PATTERSON-UTI ENERGY INC. PIONEER ENERGY SERVICES CORP. PRECISION DRILLING CORP. UNIT CORP. Drillers: Offshore Land ATWOOD OCEANICS INC. DIAMOND OFFSHORE DRILLING INC. ENSCO PLC HERCULES OFFSHORE INC. NOBLE ENERGY INC. PARKER DRILLING CO. ROWAN COMPANIES INC. SEADRLL CAPRICORN LTD. TRANSOCEAN LTD. USA OCEAN RIG UDW LLC Integrated Majors BRITISH PETROLEUM (BP) P.L.C. CHEVRON CORP. EXXON MOBIL CORP. ROYAL DUTCH SHELL PLC TOTAL S.A. Large Independents ANADARKO PETROLEUM CORP. APACHE CORP. CHESAPEAKE ENERGY CORP. CONOCOPHILLIPS DEVON ENERGY CORP. ENCANA CORP. EOG RESOURCES INC. MARATHON OIL CORP. OCCIDENTAL PETROLEUM CORP. Oilfield Services: Diversified BAKER HUGHES INCORPORATED HALLIBURTON CO. NATIONAL OILWELL VARCO INC. SCHLUMBERGER LIMITED WEATHERFORD INTERNATIONAL PLC Oilfield Services: Service Focused ARCHER WELL CO. INC. BASIC ENERGY SERVICES INC. C&J ENERGY SERVICES LIMITED CALFRAC WELL SERVICES LIMITED CORE LABORATORIES N.V KEY ENERGY SERVICES INC. NATURAL GAS SERVICES INC. NEWPARK RESOURCES INC. OIL STATES INTERNATIONAL INC. RPC INC. SEVENTY-SEVEN ENERGY INC. SUPERIOR ENERGY SERVICES INC. TETRA TECHNOLOGIES INC. TRICAN WELL SERVICES LTD. Oilfield Services: Service Focused ARCHROCK INC. CAMERON INTERNATIONAL CORP. CARBO CERAMICS INC. CSI COMPRESSCO LP DANANG RUBBER JOINT STOCK CO. DOVER CORP. DRILL-QUIP INC. FLOTEK INDUSTRIES INC. FORBES ENERGY SERVICES LTD. FORUM ENERGY TECHNOLOGIES INC. GENERAL ELECTRIC CO. NATIONAL OILWELL VARCO INC. RIGNET INC. TECHNIPFMC TENARIS S.A. TESCO CORP. WEIR GROUP PLC National Oil Companies ABU DHABI NATIONAL OIL COMPANY CHINA PETROLEUM AND CHEMICAL CORPORATION ECOPETROL SA ENI GAZPROM KAZMUNAIGAS EXPLORATION PRODUCTION KUWAIT PETROLEUM CORP. MOL GROUP NATIONAL IRANIAN OIL COMPANY NNPC OIL AND NATURAL GAS CORPORATION LTD. OJSC LUKOIL OMV AKTIENGESELLSCHAFT
PERTAMINA PETROCHINA PETROECUADOR PETROLEO BRASILEIRO S.A. PETROLEOS DE VENEZUELA PETROLEOS MEXICANOS PETROLEUM DEVELOPMENT OMAN LLC PETROLIAM NASIONAL BERHAD PTT (THAILAND)