Thursday 16 April 2015, Amsterdam
The report recognizes the following companies as the key players in the Global Drilling and Completion Fluids Market: Baker Hughes Inc., Calumet Specialty Products Partners LP, Halliburton Corp., Newpark Resources Inc., Schlumberger Ltd. and TETRA Technologies Inc.
Other Prominent Vendors in the market are: AkzoNobel, Canadian Energy Services, Chevron Phillips Chemical Company, CP Kelco, Geo Drilling Fluids, Global Drilling Fluids & Chemicals, HiTech Drilling Fluids, Imdex, Lamberti Group, National Oilwell Varco, Scomi Group, Secure Energy Services and Weatherford.
The report said: “An increase in the incorporation of nanofluids is one key trend emerging in the market. Nanofluids will lend additional functional properties to drilling and completion fluids and enhance their technical performance, resulting in increased efficiency and effectiveness of these fluids.”
According to the report, one of the main drivers in this market is the increase in exploration and drilling activities. An increased need for energy and the growth in the global population have resulted in greater demand for oil and gas, resulting in more exploration and drilling activities.
Further, the report states that one of the major challenges confronting the market is the lost circulation of drilling and completion fluids because of naturally occurring fractures in the reservoirs, causing serious complications during drilling of wells. It reduces the hydrostatic pressure, which allows gas to flow to the wellbore, and increases the risk of explosions.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.