Grand View Research.com has announced the addition of Wireline Logging Service Market Analysis And Segment Forecasts To 2020 Market Research report to their Database.
More information: Wireline Logging Service
Global wireline logging service market is anticipated to witness rapid growth over the forecast period due to increasing diversity in petrophysical properties of hydrocarbons. Oil & gas market participants faced earth surface deep crust characteristic problems such as crust material, rock hardness, water content, sand, and pressure during drilling activities. The market participants require data about petrophysical properties of hydrocarbons to operate processes efficiently and productively before and after reservoir completion. Another key factor which fuelled the global wireline logging service market is real time data availability and analysis which enhances the whole process from the surface through the system. Increasing exploration in deep sea as well as ultra-deep sea is projected to boost the global wireline logging services market over the foreseeable future. Stringent norms related to drilling activities in many nations are anticipated to hamper the wireline logging service market growth.
Wireline logging services are carried primarily along with drilling processes to collect information about down hole material. The system comprises of instruments which collect matter information available deep down the earth surface such as conductivity, hydrocarbon content, water content and others. Wireline process is conducted through lowering different logging tools along the drilling machine to collect deep well petrophysical properties. Various instruments used in logging include acoustic, natural gamma rays, stimulated radioactive and nuclear magnetic resonance, pressure and electromagnetic devices. Technological advancements enabled real time data collection which helps to monitor on-going activities. Mud pulse technology is used to transmit data from down well instruments to the surface systems.
North America dominated the global wireline logging service market in 2013 owing to increasing R&D activities in the region. Shale gas discovery in the region and increasing exploration in the U.S. Gulf Coast is anticipated to bolster the global wireline logging service market over the next six years. Asia Pacific is expected to be the fastest region market in the near future on account of increasing new oil & gas field exploration. Shale gas exploration in China is expected to positive impact on the Asia Pacific market. Technology sharing agreements by Chinese companies with U.S. based companies in order to improve shale gas recovery is expected to further drive Asia Pacific market growth over the forecast period.
Major wireline logging service market players include Baker Hughes, Schlumburger and Halliburton. Halliburton accounted for a major market share in 2013. The company’s next-generation software iBHS enables basic to complex petrophysical property collection.
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Further information: Wireline Logging Service Market Share, Forecasts 2014 To 2020: Grand View Research, Inc. – visit www.pressreleaseplace.co.uk