Managed pressure drilling services is a type drilling process which uses enclosed and pressurized circulation system to provide precise wellbore control. Managed pressure drilling provides a closed loop circulation system in which pore pressure, bottom hole pressure, and formation fracture pressure in wellbore are balanced and managed.
Increase in government initiatives for exploration and production of natural gas for conventional as well as unconventional sources like shale and tight gas is considered as key driving factor which is expected to boost the global managed pressure drilling services market. Furthermore, increase in success rate of managed pressure drilling services over other conventional techniques will positively contribute the market growth during this forecast period. Moreover, managed pressure drilling is a type of highly precise technology which is used to control wellbore pressure and enhance stability as well which ensures flawless production of oil and gas at an economical cost.
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However, high cost of managed pressure drilling equipment is challenging factor which is expected to hinder the global managed pressure drilling services market growth. Also, limited planning & executing expertise for managed pressure drilling will affect the market growth during this analysis period.
Market Segmentation
Global Managed Pressure Drilling Services Market is segmented into technology such as Constant Bottom Hole Pressure, Mud Cup Drilling, Dual Gradient Drilling, and Return Flow Control Drilling, by tool such as Rotating Control Device, Non-Return Valves, and Choke Manifold Systems. Further, market is segmented into application such as Onshore, and Offshore.
Also, Global Managed Pressure Drilling Services Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Baker Hughes Inc., Halliburton Company, Weatherford International Limited, Schlumberger Limited, National Oilwell Varco, Archer Limited, Aker Solutions, Ensign Energy Services Inc., Strata Energy Services Inc., and Blade Energy Partners
Market Taxonomy
By Technology
- Constant Bottom Hole Pressure
- Mud Cup Drilling
- Dual Gradient Drilling
- Return Flow Control Drilling
By Tool
- Rotating Control Device
- Non-Return Valves
- Choke Manifold Systems
By Application
- Onshore
- Offshore
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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