Completion Equipment and Services Market 2020: Soaring Demand Assures Motivated Revenue Share by 2025 | Analysis by Schlumberger, Baker Hughes (GE), Halliburton, Weatherford

Global Completion Equipment and Services Market Synopsis:

The report covers a forecast and an analysis of the Completion Equipment and Services Market on a global and regional level. The study provides historical data for 2015, 2016, 2017 and 2018 along with a forecast from 2020 to 2025 based on revenue (USD Million) and volume (Kilotons). The study includes drivers and restraints of the Completion Equipment and Services Market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Completion Equipment and Services Market on a global level.

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According to the market report analysis, Completion Equipment and Services Market in 2017 on account of increase in drilling activity, especially in the United States. With shale gas being commercially profitable for the North American region, the exploration & production activities have been increasing at a rapid pace in the region, thus driving the demand for well completion equipment & services. The offshore sector is expected to be a potential market in the Completion Equipment and Services Market as the cost of operation in the offshore locations declined significantly over the past few years, which has encouraged the industry to step up its expenditure gradually, in the near future.

This report contains a complete product overview and its scope in the market to define the key terms and provide the clients a holistic idea of the market and its tendency. It comprehensively evaluates the Global Completion Equipment and Services Market with different perspectives for the purpose of providing a detailed, informative, and accurate analysis of regional growth, competition, market segmentation, and other important aspects.

Global Key Players:

1 Baker Hughes (GE)

2 Superior Energy Services

3 Halliburton

4 Schlumberger

5 Weatherford and More………….

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Product Type Segmentation

1 Packers

2 Sand Control Tools

3 Multi-Stage Fracturing Tools

4 Liner Hangers

5 Smart Wells

Industry Segmentation

1 Onshore

2 Offshore

On the basis of Regional analysis, North America and Europe holds major share in global Completion Equipment and Services market. Moreover, Asia-Pacific is expected to record higher growth rate in Completion Equipment and Services Market during the forecast year.

Top Industry News:

Schlumberger (December 17, 2020) - Schlumberger and OMV Announce Enterprise Deployment of AI & Digital Solutions Enabled by the DELFI Cognitive E&P Environment - Schlumberger and OMV Upstream today announced an enterprise-wide deployment of AI and digital solutions enabled by the cloud-based DELFI* cognitive E&P environment, across OMV’s global operations. The five-year agreement will see the two companies collaborate to enhance efficiencies across OMV’s operations and position the company as a digital front-runner in the energy industry.

“We are working hand in hand with OMV; jointly innovating on projects to support specific business goals like the reduction of well planning times and acceleration of field development planning, supported by leading digital technologies deployed within the DELFI environment,” said Rajeev Sonthalia, president, Digital & Integration, Schlumberger. “This global digital deployment is a testament to the operational teams of both companies. The successes we have already achieved together underpin our innovation mindset to set us on a steady path toward achieving the enterprise-scale successes OMV is targeting.”

“OMV and Schlumberger share the belief that digitalization is more than technology,” said Johann Pleininger, Executive Board member responsible for Upstream and Deputy Chairman of OMV. “It’s a new way of working and how we organize our global businesses. We are leveraging the DELFI environment to make the integration of our teams a reality. The powerful combination of physical science enhanced with new digital technologies leads to significantly faster and more informed decisions across both technical disciplines and operational settings. This can make our business even more efficient and therefore more cost-effective.”

An extensive pilot deployment of the DELFI environment helped OMV realize operational efficiencies in exploration, field development planning, drilling and well planning. The OMV Upstream subsurface team used AI-enhanced workflows in the DELFI Petrotechnical Suite to automatically create and simulate 200 model realizations in one-sixth of the time. In well planning operations, the DrillPlan* solution helped plan eight wells in the time it would normally take to plan one.

The agreement formalizes the commitment from both companies to progress the industry standard OSDU data platform and lays the foundation for further collaboration and innovation for workflows and solutions across the energy spectrum.

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Major Points in Table of Contents:

Global Completion Equipment and Services Market Report 2020

1 Completion Equipment and Services Product Definition

2 Global Completion Equipment and Services Market Manufacturer Share and Market Overview

2.1 Global Manufacturer Completion Equipment and Services Shipments

2.2 Global Manufacturer Completion Equipment and Services Business Revenue

2.3 Global Completion Equipment and Services Market Overview

3 Manufacturer Completion Equipment and Services Business Introduction

3.1 Baker Hughes (GE) Completion Equipment and Services Business Introduction

3.2 Superior Energy Services Completion Equipment and Services Business Introduction

3.3 Halliburton Completion Equipment and Services Business Introduction

3.4 Schlumberger Completion Equipment and Services Business Introduction

3.5 Weatherford Completion Equipment and Services Business Introduction

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