India: Oil & Gas Why Oilfield Chemicals Boom in India – And Where...
Oilfield Services involve a wide range of services that facilitate oil and gas exploration and production (E&P). These services are provided to smoothen the drilling process, thereby eliminating the waste produced during drilling and enhancing the oil recovery process by providing repair and maintenance of bore wells.
New Delhi/India – In India, Gujarat, Rajasthan and Assam account for maximum demand for oilfield services due to large scale oil and gas exploration and production activities being undertaken in these states. The Government’s decision of auctioning 69 idle oil and gas fields of state-owned ONGC and Oil India to private companies on new revenue sharing model is expected to boost oil and gas E&P over the next five years, which in turn would fuel growth in the country’s oilfield services market through 2020.
According to the TechSci Research report, “India Oilfield Services Market Forecast & Opportunities, 2020”, the country’s oilfield services market is projected to surpass $7.8 billion by 2020, on account of anticipated increase in oil and gas E&P activities. The onshore oilfield services segment holds majority share in India’s oilfield services market; however, the offshore oilfield services is expected to exhibit higher growth during 2015–2020. Comprising three vital type of services i.e. cementing, direction drilling, hydro fracturing services, drilling services segment accounts for the largest share in the oilfield services market, followed by drilling & completion fluids services, wireline services, pressure pumping services and coiled tubing services. “India Oilfield Services Market Forecast & Opportunities, 2020” discusses the following aspects of oilfield services in India:
- India Oilfield Services Market Size, Share & Forecast
- Segmental Analysis – By Application (Onshore & Offshore); By Type (Oilfield Drilling, Oilfield Drilling & Completion Fluids, Oilfield Wireline, Oilfield Pressure Pumping Services, Oilfield Coiled Tubing, Oilfield OTGS, etc.)
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations