The Oil & Gas Drilling Technologies Market 2011-202103 Oct 2011 • by Natalie Aster
Although oil & gas drilling has been taking place for over 100 years, the technological advances in recent years along with increasing extraction of unconventional oil & gas resources has revived interest and investment in the drilling industry over the past few years. The technologies are more and more integrated to enable faster and more accurate drilling in deepwater and ultra-deepwater and help secure oil & gas wells in the most demanding and challenging environments around the globe. These technologies allow a more rapid analysis of rock formations and a more accurate data acquisition from geological areas being explored. Various technologies are used to drill horizontal and directional wells that enable extraction of hydrocarbons from more difficult and unconventional resources. In the report “The Oil & Gas Drilling Technologies Market 2011-2021” Visiongain calculates the global oil & gas drilling technologies market defined as, spending on new drilling equipment, infrastructure and upgrading of existing facilities to be worth $70.1bn in 2011.
Published: September 2011
Price: US$ 2,664.00
Report Sample Abstract
The African Oil & Gas Drilling Technologies Market Forecast 2011-2021
Annual spending on the African oil and gas drilling technologies will be worth $2.1bn in 2011 and it will grow with a CAGR of 7.1% over the forecast period to $4.2bn in 2021. The CAGR will be 7.5% over the 2011-2016 period, taking annual spending to $3.1bn in 2016, but CAGR will fall to 6.8% over the 2016-2021 period. For more details see Tables 4.21, 4.22, 4.23 and Figures 4.25 and 4.26.
The Algerian Oil & Gas Drilling Technologies Market
OPEC-member Algeria has an estimated 12.2 billion barrels of proven oil reserves and 159 trillion ft3 of proven natural gas reserves as of 2010 – Africa’s third largest oil reserves and second largest gas reserves. Oil is found largely in the eastern part of the country at the Messaoud and Berkine basins. Oil production stood at approximately 1.8 million bbl/d in 2010, little changed from the prior year. Meanwhile natural gas production in 2010 stood at 7.8 billion ft3/d. Oil production levels have changed very little since 2005.
More information can be found in the report “The Oil & Gas Drilling Technologies Market 2011-2021” by Visiongain.
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