In the recent trend, the industry of energy and
utilities is growing more significantly with the advanced developments in the
technology. Whereas, the process of managed pressure drilling is effectively
used to control the bottom hole pressure, formation fracture pressure and pore
pressure in the well. The managed pressure drilling overpowers drilling
problems by maintaining surface pressure that precludes the flow of formation
fluids into the wellbore while keeping pressure well below the fracture instigation
pressure. The technology helps in defining the downhole pressure and
accomplishes the annular pressure accordingly. Managed pressure drilling system
can automatically detect influxes and losses in real time. Moreover, the key
players of this market around the globe doing effective development in the
technology, tools and applications of this for gaining the huge market share
around the globe which will further lead the market growth in the coming years.
Growing deep water and ultra-deep-water exploration
and drilling operations and increasing the technical improvements for drilling
high-pressure high-temperature (HPHT) wells are the major key drivers of this
market for leading the market growth more significantly. Despite all this, the
market has one major restraints which hinder the growth of this market includes
high process complexity and lack of skilled labor.
According to the report analysis, ‘Global Managed Pressure Drilling Market Research Report -
Forecast till 2023’ states that some of the major key
players which are functioning in this market across the globe for dominating
the huge market share by using the opportunities such as growing shale
production includes Air Drilling Associates, Inc, Ensign Energy Services,
Enhanced Drilling Services, Schlumberger Limited, Halliburton Inc, Weatherford
International, National Oilwell Varco, Nabors Industries Ltd, Oilserv, AFGlobal
and Beyond Energy. Moreover, on the basis of technology, the market of managed
pressure drilling is segmented across the globe which involves constant bottom
hole pressure, mud cap drilling, dual gradient drilling and return flow control
drilling. Not only has this, the market of this is divided by tools and
applications also where tools includes rotating control devices, non-return
valves and choke manifold systems while the applications involves onshore and
offshore.
The market of this with the category of technology
likewise the constant bottom hole pressure accounted the market in 2017 and is
anticipated to remain dominant in the forecasted period as this method of
constant bottom hole pressure is very much prominent in the drilling well
almost all. Whereas, the category of tools such as rotating control devices
dominated the market in 2017 and is anticipated to hold the highest market
share in the forecasted period as these rotating devices are widely used for
pressure management.
On the basis of geography, the market of this is
spread across the globe more significantly which includes major regions such as
North America, Asia Pacific region, Europe, Latin America and rest of the
world. It is expected that in the near future, the global market of the managed
pressure drilling will grow more significantly over the decades with the more
development in the applications and tools of this.
For more information on the research
report, refer to below link:-
