Press release
Oil And Gas Supporting Activities Market 2020 | Business Opportunity - Halliburton; Saipem S p A; Schlumberger Ltd; Baker Hughes Incorporated
Oil And Gas Supporting Activities Market
Oil and gas wells service providers are using microbial treatment as a sustainable and cost effective replacement to conventional treatment methods such as chemical, mechanical and thermal methods to discard paraffin deposits. Microbial treatment refer to the use of naturally occurring microorganisms to remove paraffin deposits, break emulsions, and inhibit corrosion and scale formation. Paraffin is a waxy substance which deposits in oil and gas production systems and restricts the flow of fluids, and thus needs to be prevented. This treatment procedure is non-toxic, cost effective and saves time compared to conventional methods. Microbial treatment can result in high paraffin degradation rate of up to 64%. For example, microbial treatment carried out at Barfield, Midland oil wells increased oil production volume by two barrels per day.
The global oil and gas supporting activities market is expected to decline from $291.1 billion in 2019 to $161.7 billion in 2020 at a compound annual growth rate (CAGR) of -44.5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 3% from 2021 and reach $173.5 billion in 2023.
North America was the largest region in the global oil and gas supporting activities market, accounting for 28% of the market in 2019. Middle East was the second largest region accounting for 16% of the global oil and gas supporting activities market. Western Europe was the smallest region in the global oil and gas supporting activities market.
Top Leading Companies mentioned are
Halliburton; Saipem S p A; Schlumberger Ltd; Baker Hughes Incorporated; Weatherford International plc
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Latest News and Developments:
February 25, 2020: Halliburton Company (NYSE: HAL) announced today that Pertamina, the largest Indonesian oil and gas company, deployed all of their petro-technical applications on the iEnergy cloud, a hybrid cloud offering from Landmark, a Halliburton business line, which manages operators’ E&P applications. The iEnergy cloud helps reduce corporate infrastructure costs and improve the effectiveness and efficiency of integrating, managing and supporting well data across the company’s units and subsidiaries.
July 25, 2018: Halliburton Company (NYSE: HAL) today announced its Landmark Innovation Forum and Expo (LIFE), the oil and gas industry’s premier business and technology event, will kick-off on Tuesday, August 21, 2018. Participants in the event, which takes place August 21-23 at the Marriott Marquis in Houston, will learn how companies are repositioning and responding to the current exploration and production environment through collaboration of people, insights and technology to help reduce costs and increase production. LIFE is the only event that covers community, science, technology and digital innovation across the oil and gas industry.
This report provides a detailed analysis of the Oil And Gas Supporting Activities market with description of market sizing and growth, segmentation of market by products & services and major markets, top market players etc. The report recapitulates the factors that will be responsible for the growth in the market in the forecasted period.
By Type: Well Maintenance; Exploration; Well Developing
Essential points covered in Global Oil And Gas Supporting Activities Market2020 Research are:-
• What will the market size and the growth rate be in 2020?
• What are the key factors driving the global Oil And Gas Supporting Activities market?
• What are the key markets trends impacting the growth of the global Oil And Gas Supporting Activities market?
• What are the challenges to market growth?
• Who are the key vendors in the global Oil And Gas Supporting Activities market?
• What are the market opportunities and threats faced by the vendors in the global Oil And Gas Supporting Activities market?
• What are the key outcomes of the five forces analysis of the global Oil And Gas Supporting Activities market?
This independent 400 pages report guarantees you will remain better informed than your competition. With over figures examining the Oil And Gas Supporting Activities market, the report gives you a visual, one-stop breakdown of the leading products, submarket and market leader’s market revenue forecasts as well as analysis to 2020.
Geographically, this report is segmented into several key Regions, with Sales, revenue, Market Share (%) and Growth Rate (%) of Oil And Gas Supporting Activities in these regions, from 2014 to 2020(forecast), covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Furthermore, the report provides a detailed analysis of the global Oil And Gas Supporting Activities market with analysis of market size by value and volume. Along with this, an analysis of penetration rate and the average revenue generated per user (ARPU) in the market has also been done. The report also includes a detailed analysis of the global Oil And Gas Supporting Activities market by countries, comprising of its market by value, volume, and ARPU and penetration rate.
Browse in-depth and report summary TOC:
https://www.marketinsightsreports.com/reports/05072014105/Oil And Gas Supporting Activities-global-market-report-2020-30-covid-19-impact-and-recovery-including-1-by-type-lotions-including-sunscreens-hair-preparations-face-creams-perfumes-shaving-preparations-other-cosmetic-preparations-2-by-distribution-channel-hypermarkets-supermarke?source=OpenPr&Mode=NG23
The research includes historic data from 2014 to 2020 and forecasts until 2020 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs. The report will make detailed analysis mainly on above questions and in-depth research on the development environment, market size, development trend, operation situation and future development trend of Oil And Gas Supporting Activities on the basis of stating current situation of the industry in 2020 so as to make comprehensive organization and judgment on the competition situation and development trend of Oil And Gas Supporting Activities Market and assist manufacturers and Oil And Gas Supporting Activities organization to better grasp the development course of Oil And Gas Supporting Activities Market.
Note: All the reports that we list have been tracking the impact of COVID-19 . Both upstream and downstream of the entire supplychain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
Contact US:
Irfan Tamboli (Head of Sales)-Market Insights Reports
Phone: + 1704 266 3234 | Mob: +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated Market research reports to industries, organizations or even individuals with an aim of helping them in their decision making process. MarketInsightsReports has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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