Press release
What are the segments booming in Drilling Fluids Market? Top Players in Drilling Fluids Market are Schlumberger Limited, Halliburton Inc., Baker Hughes, Newpark Resources Inc., National Oilwell Varco, Tetra Technologies Inc., Scomi Energy Services Bhd (SE
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The report classifies the global drilling fluid market on the basis of application, fluid system, and geography. In terms of a fluid system, the market is further segmented into the water-based fluid system, synthetic-based fluid system, and oil-based fluid system. By application, the market is divided into onshore and offshore. However, synthetic and oil-based fluid systems are considered to be major environmental threats due to the presence of toxic elements in them. This results in the contamination of nature and is projected to hinder the growth of the global drilling fluid market.
Top Players Overview:
Schlumberger
Halliburton
Baker Hughes, a GE company
Newpark Resources, Inc
National Oilwell Varco
TETRA Technologies, Inc.
Scomi Group Bhd
GEO Drilling Fluids, Inc.
Global Drilling Fluids and Chemicals Limited
Gumpro Drilling Fluids Pvt Ltd
AES Drilling Fluids, LLC
Star Drilling Fluid3.
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Key Players Focus on Joint Ventures to Establish a Stronghold in Overall Market
Scomi Energy Services Bhd, a management service company headquartered in Malaysia, was awarded contracts worth US$150 million in March 2019, by Kuwait Oil Company. Its main aim is to provide mud engineering services and mud products for development drilling and deep drilling. Uzma Bhd, an international gas and oil service company, based in Malaysia, bagged a five-year contract from Petronas Carigali, a Malaysian company, in July 2018 for supplying drilling fluid and other services. Tetra Technologies Inc., a geographically diversified oil and gas service company, signed a development agreement with Halliburton, a global oil service company in July 2018. It was done to provide distribution and sales of TETRA CS Neptune drilling fluid.
Key Industry Developments
In March 2019, Scormi Energy Services Bhd bags a contract worth $150 million from Kuwait Oil Company for providing mud products and mud engineering services for deep drilling and development drilling.
In July 2018, Uzma Bhd gets a five-year contract from Petronas Carigali for provision of drilling fluid and associated services
In July 2018, Tetra Technologies Inc. and Halliburton jointly signed an agreement for global joint marketing and sale for a newly developed Tetra CS Neptune drilling fluid.
Key Segmental Overview:
By Fluid System
1. Water-Based Fluid System
Oil-Based Fluid System
Synthetic Based Fluid System
2. By Application
Onshore
Offshore
3. By Geography
North America (USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
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Extensive Drilling Operations Likely to Drive the Market in Asia Pacific
The global drilling fluid market is geographically divided into Latin America, North America, Asia Pacific, the Middle East and Africa, and Europe. Amongst these, North America is currently leading the global drilling fluid market. This is because the region has invested a huge amount in offshore exploration. According to Fortune Business Insights, the drilling fluid market in the U.S. is expected to exhibit a notable growth during the forecast period. This is because the region is handling pipeline projects to explore hydrocarbon in order to meet the growing demands. Asia Pacific, on the other hand, had been experiencing moderate growth since the past decade, and the market is anticipated to grow constantly.
Key Industry Developments
In March 2019, Scormi Energy Services Bhd bags a contract worth $150 million from Kuwait Oil Company for providing mud products and mud engineering services for deep drilling and development drilling.
In July 2018, Uzma Bhd gets a five-year contract from Petronas Carigali for provision of drilling fluid and associated services
In July 2018, Tetra Technologies Inc. and Halliburton jointly signed an agreement for global joint marketing and sale for a newly developed Tetra CS Neptune drilling fluid.
The maximum share of hydrocarbon production is held by China, in the entire world. Existing wells for the growth of production and numerous drilling operations for examining new oil wells are projected to boost the drilling fluid market in Asia Pacific. Russia is one of the top exporters of gas and oil in Europe. Most of the countries in the European continent are developing at a fast pace due to the presence of the company with a top conglomerate.
Key Market Driver - Enormous exploration activities and development of existing wells
Key Market Restraint - Severe environmental rule and regulation
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/drilling-fluid-market-100401
Major Table of Content For Drilling Fluids Market:
Introduction
Executive Summary
Market Dynamics
Key Insights
Global Drilling Fluids Analysis, Insights and Forecast, 2026
North America Drilling Fluids Analysis, Insights and Forecast, 2026
Europe Drilling Fluids Market Analysis, Insights and Forecast, 2026
Asia Pacific Drilling Fluids Market Analysis, Insights and Forecast, 2026
The Middle East and Africa Drilling Fluids Market Analysis, Insights and Forecast, 2026
Latin America Drilling Fluids Market Analysis, Insights and Forecast, 2026
Competitive Landscape
Company Profile
Conclusion
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