High Growth Potential in African Drilling and Completion Fluid Market

Thursday 21 May 2015, Amsterdam

Market Research Report Press Release Drilling and completion fluid market has witnessed significant growth in the last few decades. The drilling and completion fluids are used for drilling completion process of oil and gas wells. These fluids serve various purposes, including removal of cuttings from wellbore, suspend and release cuttings, counterbalance the formation pressures, seal permeable formations, maintain wellbore stability, minimize formation damages, work as a coolant and lubricant for drilling bit, transmit hydraulic energy to drilling bit, and control corrosion of an equipment. Increase in drilling activities, increase in production of oil and gas, technological advancements, increase in exploration for shale gas and coal bed methane, and development of advanced drilling fluid chemicals are some of the factors fuelling the growth of drilling and completion fluid market in African region. Several companies are investing in research and development activities to expand their presence and offerings in the drilling and completion fluid market.

The drilling fluid and completion fluid market is segmented on the basis of application, type, and country. Differences in drilling conditions in onshore and offshore drilling activities affect the type and quantity of drilling fuel to be used. To fulfil the varies requirements of these applications, companies offer different types of drilling and completion fluid, including water-based system, oil-based system, synthetic-based system, and other drilling fluids (aerated, foam, gaseous, and air-based). It has been estimated that in coming years, water-based fluid system would be used extensively owing to its cost-effectiveness and minimal environmental impacts. However, synthetic-based fluid system is expected to grow with a higher CAGR of around 5.4% from 2014 to 2019 as compared to drilling and completion fluid systems. Water-based fluid systems and oil-based fluid systems are generating the maximum revenue as compared to other types of drilling and completion fluids. Oil-based fluid system and synthetic-based fluid system are preferred for harsh drilling environments as they offer better drilling performance without affecting the environment.

The application areas of the drilling and completion fluids include onshore and offshore. Onshore application accounted for the largest share within the African drilling and completion fluids market in 2013, as majority of drilling activities were carried onshore. Offshore application segment is expected to grow at a higher CAGR as compared to onshore segment owing to increasing deep-water and ultra-deep-water exploration activities. The market is further segmented on the basis of the country, including Egypt, Algeria, Angola, Libya, Nigeria, and others. Libya drilling and completion fluids market is estimated to grow at the highest CAGR in coming years. The major drivers for this market are increase in exploration of hydrocarbon on new frontiers and extensive drilling activities in deep-water and ultra-deep-water. Egypt is the leading country and is expanding its facilities and services in Africa. Drilling and completion fluid market in Nigeria is also expected to witness a strong growth during the forecast period.


There are number of players who are operating in the production and the distribution channel of drilling and completion fluid in Africa. The drilling and completion fluid market in Africa is by M-I SWACO, Schlumberger (U.S.), Halliburton (U.S.A), Baker Hughes (U.S.), New Park Resources Inc. (U.S.), Tetra Technologies Inc. (U.S.), Scomi Group BHD (Malaysia), and Weatherford International Ltd. (Switzerland). Out of these companies, M-I SWACO, a wholly-owned subsidiary of Schlumberger, is the major player in the drilling and completion fluid market in Africa with the market share of 33% approximately.
The increasing growth rate of the overall drilling and completion fluid market in next five years in Africa is mainly attributed to the high energy demand, environment regulations, and exploitation of hydrocarbons. The increase in drilling activities, technological advancement, and exploration for Shale Gas or Coal Bed Methane will further increase the scope of drilling and completion fluids in the market. Also, due to various types and applications of drilling and completion fluids and its usage, the market share of drilling and completion fluid is expected to increase both by value and volume in next five years in Africa.
Africa Drilling and Completion Fluids Market - Regional Trend & Forecast to 2019

Africa Drilling and Completion Fluids Market - Regional Trend & Forecast to 2019

Publish date : March 2015
Report code : ASDR-193137
Pages : 87

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