Oilfield Exploration & Production Markets: A BCC Research Outlook
Publish Date: May 2019 | Category: Energy & Power | Publisher: BCC Research | Status: Publish
The global market for exploration and production should grow from $387.8 billion in 2018 to $530.8 billion by 2023 with a compound annual growth rate (CAGR) of 6.5% for the period of 2018-2023.
The scope of the report includes, a general outlook of oil & gas exploration and production sector, with the scope limited to reports published by BCC Research during the year 2017 and 2018. This report segments the market into two major sub-segments i.e. oil & gas exploration and oil & gas production.
The exploration segment explains the prevalent and upcoming technologies covering the qualitative aspects of the market in brief. The report divides the production market into technologies and components. Production technologies discussed in the report include enhanced oil recovery technology and Fracking technology. Detailed overview of these technologies coupled with relevant market data in terms of market size measured in dollar terms are provided. The Production components covered in this study include oilfield process chemicals and drill pipes. The scope is limited to the recent studies published by BCC Research and is thus not exhaustive.
- 170 tables
- An overview of the oil and gas exploration and production technologies and components markets
- Quantification of the market for oilfield exploration and production by various segments and sub-segments i.e., oil & gas exploration and oil & gas production
- Analyses of global market trends with data from 2017 and 2018, and projections of compound annual growth rates (CAGRs) through 2023
- Brief outline of the importance of advanced exploration and new downhole techniques within the O&G industry in correlation with substantial economic benefit to both government and industry players
- Impact analysis of growing and contracting segments, technological challenges that the oil and gas industry is facing, and possible solutions to those challenges
- Coverage of the all viable enhanced oil recovery (EOR) technologies along with their installation, operation, deployment, application area, environmental concern, regulatory framework, cost benefits etc.
- Company profiles of leading market players within the oilfield industry, including Advanced Resources International, Caterpillar, Denbury Resources, Hilong Group, National Oilwell Varco, And Wood Group
Global oil and gas market is on a growth trajectory after a long gap of downturn, yet global geopolitical activities are shaping up the further roadmap. The recent preparations to revise sanctions on Iran by the United States based on the counterbalance provided by the kingdom of Saudi Arabia to meet additional oil production and maintain oil price stability are something to watch out for. Much of the OPEC members were able to moderate the production to maintain a supply and demand balance to control the oil prices, but members such as Venezuela still lingers on the internal crisis that has led to fall in the oil production in the country. The future of oil prices would be dependent on the outcome from these global political decisions. However, the industry has reshaped itself better in the downturn and is prepared well to absorb shocks and propel with faster efficiency.
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. Since the oil price dip in 2014, exploration activities have gained gradual traction in recent years. The rising number of auctions for exploration and equally enthusiastic response form upstream companies is an evidence of this growing positivity. Recently companies such as Shell, Eni, Chevron and Repsol won exploration bids for the Mexcian Deepwater auctions. Shell won nine out of the REDACTED exploration
acreages put on auction. Similarly, exploration activities grew offshore in Cote d’ Ivoire by British Petroleum andKosmos. Tullow won offshore licenses in Cote d’Iv oire and Peru.
Table of Contents
Chapter 1 Introduction
Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
Methodology and Information Sources
BCC Custom Research
Related BCC Research Reports
Chapter 2 Summary and Highlights
Chapter 3 Market and Technology Background
History of Oil and Gas Sector
Classification of Petroleum Resources
Conventional Vs Unconventional Resources
Stages Split in the Oil and Gas Industry
Site Development for the Oil and Gas Production Fields
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
Onshore Versus Offshore
Upstream Oil and Gas Activities, Services and Equipment
Advancements in Exploration and Downhole Technologies
Evolution of Exploration and Production Technologies
Chapter 4 Oil and Gas Exploration Technologies
Relationship Between Geologic/Engineering and Seismic Properties
Advancements in Exploration Technologies
Service Capabilities of Main Seismic Companies
Chapter 5 Oil and Gas Production Technologies
Enhanced Oil Recovery
What is Enhanced Oil Recovery?
History of Enhanced Oil Recovery
Benefits of Enhanced Oil Recovery
Drawbacks of Enhanced Oil Recovery
Enhanced Oil Recovery Technologies and Applications
Details on EOR Cost
Market Share Analysis
Enhanced Oil Recovery in Oilfield Process Chemicals
Processes for Enhanced Oil Recovery
Oil and Gas Exploration and Production Companies
Energy Services Firms
Wastewater Treatment Firms
Industry Value Chain
Definition of Hydraulic Fracturing Technology
Definition of Fracking Fluid Product
History and Development of the Industry
Importance of the Industry
Important Implications for the Industry
Important Shifts in the Industry
Global Focus on U.S. Shale Companies
Impact on Other Industries
Recycling and Reuse
Chapter 6 Oil and Gas Production Components
Oilfield Process Chemicals
Oil and Gas Price Trends
Functions of Oil Field Process Chemicals
Future of the Market
Developing Unconventional Reserves
Deep and Ultradeep Reserves Development
Chapter 7 Company Profiles
ADVANCED AROMATICS L.P.
ADVANCED RESOURCES INTERNATIONAL
AIR PRODUCTS AND CHEMICALS, INC.
AL SANEA CHEMICALS
ANADARKO PETROLEUM CORP.
ANCHOR DRILLING FLUIDS USA INC.
ASHLAND AQUALON FUNCTIONAL INGREDIENTS
BABCOCK & WILCOX
BADGER MINING CORP.
BAROID INDUSTRIAL DRILLING PRODUCTS (HALLIBURTON)
BEFAR GROUP CO., LTD
BNK PETROLEUM INC.
BRITISH PETROLEUM CORP. (BP)
BWA WATER ADDITIVES
C&J ENERGY SERVICES, INC.
CABOT OIL & GAS CORP
CABOT SPECIALTY FLUIDS LTD.
CANADIAN ENERGY SERVICES (CES)
CHART INDUSTRIES INC.
CHENGDU CATION CHEMISTRY CO. LTD.
CHESAPEAKE ENERGY CORP.
CHEVRON PHILLIPS CHEMICAL
CHINA MINERAL PROCESSING (CMP) TIANJIN LTD
CHINA NATIONAL PETROLEUM CORP.
CLARIANT OIL SERVICES
CNPC BOHAI DRILLING ENGINEERING CO. LTD.
COASTAL CHEMICAL CO. LLC
CRODA INTERNATIONAL PLC
CUADRILLA RESOURCES COMPANY
CYCLOTECH (SUBSIDIARY OF M-I SWACO)
DEVON ENERGY CORP.
DORF KETAL CHEMICALS PVT. LTD.
DOWDUPONT CHEMICAL COMPANY
DP-MASTER MANUFACTURING (S) PTE LTD
DRILL PIPE INTERNATIONAL, LLC.
DRILLING SPECIALTIES CO.
DUPONT (MERGED WITH DOW CHEMICALS)
ECONOMY POLYMERS & CHEMICAL
ELIXIR PETROLEUM LTD
EMERY OLEOCHEMICALS GROUP
ENERCHEM INTERNATIONAL INC.
ENGENIUM CHEMICALS CORP.
ENVIRONMENTAL BIOTECHNOLOGIES INC.
EQUITABLE RESOURCES (EQT CORP.)
FLEK (LLC FLEK)
FOUNTAIN QUAIL WATER
GENERON INNOVATIVE GAS SYSTEMS
GLOBAL DRILLING FLUIDS & CHEMICALS LTD.
GULF COAST CHEMICAL
HALLIBURTON ENERGY SERVICES, INC.
HEBEI HUAYUN HONGYE CHEMICAL CORP.
INDUSTRIAL TECHNOLOGY MANAGEMENT
INNOVATIVE CHEMICAL TECHNOLOGIES INC.
INNOVATIVE STEAM TECHNOLOGIES
JIANGYIN LONG BRIGHT DRILL PIPE MANUFACTURE CO. LTD.
JINDAL SAW LTD.
MARATHON OIL CO.
MARUBENI SPECIALTY CHEMICALS
MASCHINENFABRIK AUGSBURG-NUREMBERG (MAN) SE
MEMBRANE TECHNOLOGY RESEARCH
MIDWEST CUSTOM CHEMICALS
MITSUBISHI HEAVY INDUSTRIES
NATIONAL CHEMICAL AND PETROLEUM INDUSTRIES
NATIONAL OILWELL VARCO
NAVDEEP CHEMICALS PVT. LTD.
NEWPARK DRILLING FLUIDS
NUR CHEMICALS & ENGINEERING INDUSTRIES CO.
OASIS PETROLEUM NORTH AMERICA, LLC
OIL CHEM TECHNOLOGIES
OIL COUNTRY TUBULAR LTD.
OPPENHEIMER BIOTECHNOLOGY INC.
PETROCHINA COMPANY LTD.
PETROLIAM NASIONAL BERHAD
PIONEER NATURAL RESOURCES CO.
PRODUCTION CHEMICAL INTERNATIONAL HOLDINGS LTD.
PUYANG KAILI CHEMICAL CO. LTD.
QINGDAO OCEANVIEW INTERNATIONAL CO. LTD.
QUIMICA APOLLO S.A. DE C.V.
RANGE RESOURCES CORP
RE CHEM SERVICES GMBH
REAGENT CHEMICAL AND RESEARCH INC.
SANJEL ENERGY SERVICES
SCOMI ANTICOR S.A.
SEKISUI SPECIALTY CHEMICALS AMERICA LLC
SETAC CHEMICAL CORP.
SHRIEVE CHEMICAL GROUP
SOUTHWESTERN ENERGY COMPANY
SUPERIOR DRILL PIPE MANUFACTURING, INC.
TEJAS TUBULAR PRODUCTS, INC.
TEXAS IRON WORKS CORP.
TEXAS STEEL CONVERSION, INC.
TRICAN WELL SERVICE
TRUBNAYA METALLURGICHESKAYA KOMPANIYA (TMK) GROUP
UNITECH ASIA-PACIFIC LTD.
UNITED STATES STEEL CORP.
VOGT POWER INTERNATIONAL INC.
WELL FLOW LLC
WILDCAT CHEMICALS AUSTRALIA PTY. LTD.
XTO ENERGY INC. (EXXONMOBIL)
Chapter 8 Appendix: Abbreviations