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Africa Drilling & Completion Fluids Market Growth | 2031
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Africa Drilling & Completion Fluids Market Growth | 2031

Segments - Africa Drilling and Completion Fluids Market by Fluid Types (Water-based, Oil-based, and Others), Locations (Onshore and Offshore), and Geographies (Nigeria, Algeria, Ghana, and Rest of Africa) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031

https://growthmarketreports.com/Raksha
Author : Raksha Sharma
https://growthmarketreports.com/Vaibhav
Fact-checked by : V. Chandola
https://growthmarketreports.com/Swapnil
Editor : Swapnil Hedau

Upcoming | Report ID :EP-1520 | 4.4 Rating | 78 Reviews | 215 Pages | Format : PDF Excel PPT

Report Description


The Africa drilling and completion fluids market size was valued at USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5% during the forecast period 2023–2031. The growth of the market is attributed to increasing number of drilling operations in African countries. Moreover, the rapid development of shale and deep-water and ultra-deepwater fields are driving the market growth.

Completion fluids are used during drilling and during the steps of completion, or recompletion of the well. A completion operation includes perforating the casing, setting the tubing and pump, and cementing the casing.

Africa Drilling and Completion Fluids Market Outlook

Drilling fluids serve various functions, which include controlling formation pressures, removing cuttings from the wellbore, sealing permeable formations encountered while drilling, cooling and lubricating the bit, transmitting hydraulic energy to downhole tools and the bit, and maintains wellbore stability. Drilling fluids such as mist, foams, and stiff foams are used in limited applications.

Completion fluid is a solid-free liquid that are used to complete an oil or gas well. The fluid is meant to control without damaging the production. These fluids typically include brines, chlorides, and bromides, and formats.

  • Declining operational cost in the country’s basin is one of the major drivers that is contributing to the growth of the Africa drilling and completion fluids market.
  • Volatile oil prices owing to the supply-demand gap can restrain the growth of the market.
  • The COVID-19 pandemic had halted the well exploration activities across the globe. This, in turn, had disrupted the market in the year 2020 dramatically. However, the declining number of cases is expected to recover the market soon.
  • Geopolitical tensions can hinder the Africa drilling and completion fluids market growth in the projected timeline.
  • Rising investment in the offshore oil and gas operations is expected to augment the market growth.

Scope of the Africa Drilling and Completion Fluids Market Report 

The report on the Africa drilling and completion fluids market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Africa drilling and completion fluids  Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Fluid Types (Water-based, Oil-based, and Others) and Locations (Onshore and Offshore)

Geographical Scope

Nigeria, Algeria, Ghana, and Rest of Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International PLC, and National-Oilwell Varco Inc.

Africa Drilling and Completion Fluids Market Segment Insights:

Oil-based segment to grow at a rapid pace

Based on fluid types, the market is divided into water-based, oil-based, and others. The oil based segment is anticipated to account for a key market share and is expected to grow at a steady rate during the forecast period. Oil-based drilling fluids use oil as the continuous phase in the extraction process. Lower well friction is one of the advantages of oil-based drilling fluids. Therefore, they are often used in long-reach wells where friction is a critical parameter. Usually, the borehole does not show time-dependent deterioration with water-based fluids.

Africa Drilling and Completion Fluids Market Fluid Types

Offshore segment to account a major market share

Based on locations, the market is divided into onshore and offshore. The offshore segment is anticipated to account for a major market share due to the increasing demand for oil field services. This, in turn, is expected to help the service companies to propel the investment in offshore  locations.  Some of the advantages of offshore operations  include tax benefits, asset protection, and privacy.

Africa Drilling and Completion Fluids Market Locations

Nigeria accounts a considerable market share

On the basis of geographies, the market is segregated into Nigeria, Algeria, Ghana, and Rest of Africa. Nigeria is anticipated to account for a considerable market share market owing to the recent developments in deep-water fields, horizontal drilling, and fracking. This, in turn, have increased the demand for drilling and completion fluids in the country. The upstream activities began to increase, which have  positively impacted the crude oil production and number of well completion activities in the country.

Segments

The Africa drilling and completion fluids have been segmented on the basis of

Fluid Types

  • Water-based
  • Oil-based
  • Others

Locations

  • Onshore 
  • Offshore

Geographies

  • Nigeria
  • Algeria
  • Ghana
  • Rest of Africa

Key Players

Competitive Landscape

The major players of the market are Schlumberger Limited, Halliburton Company, Baker Hughes Company, Weatherford International PLC, and National-Oilwell Varco Inc. Companies are focusing on partnerships, joint ventures, and acquisitions to expand their market share.

Africa Drilling and Completion Fluids Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Drilling and Completion Fluids Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Drilling and Completion Fluids Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Drilling and Completion Fluids Market - Supply Chain
  4.5. Global Drilling and Completion Fluids Market Forecast
     4.5.1. Drilling and Completion Fluids Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Drilling and Completion Fluids Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Drilling and Completion Fluids Market Absolute $ Opportunity
5. Global Drilling and Completion Fluids Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Drilling and Completion Fluids Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Drilling and Completion Fluids Demand Share Forecast, 2019-2026
6. North America Drilling and Completion Fluids Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Drilling and Completion Fluids Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Drilling and Completion Fluids Demand Share Forecast, 2019-2026
7. Latin America Drilling and Completion Fluids Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Drilling and Completion Fluids Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Drilling and Completion Fluids Demand Share Forecast, 2019-2026
8. Europe Drilling and Completion Fluids Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Drilling and Completion Fluids Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Drilling and Completion Fluids Demand Share Forecast, 2019-2026
9. Asia Pacific Drilling and Completion Fluids Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Drilling and Completion Fluids Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Drilling and Completion Fluids Demand Share Forecast, 2019-2026
10. Middle East & Africa Drilling and Completion Fluids Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Drilling and Completion Fluids Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Drilling and Completion Fluids Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Drilling and Completion Fluids Market: Market Share Analysis
  11.2. Drilling and Completion Fluids Distributors and Customers
  11.3. Drilling and Completion Fluids Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Schlumberger Limited Halliburton Company Baker Hughes Company Weatherford International PLC National-Oilwell Varco Inc.

Methodology

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