Micro M Monitor

Middle East well completion equipment and services market is estimated to reach $1,273.7 million by 2019

Press Release   •   Aug 26, 2015 05:20 EDT

The Middle Eastern well completion equipment & services market was valued at $931.1 million in 2014 and is estimated grow at a CAGR of 6.5% from 2014 to 2019. Key players dominant in the well completion equipment and services market are Schlumberger Ltd.

(U.S.), Weatherford International Plc (Ireland), Halliburton Co. (U.S.), and Baker Hughes Inc. (U.S.).

Browse through the TOC of Middle East Well Completion Equipment and Services market for an analysis of industry trends, segments & forecasts.

http://www.micromarketmonitor.com/market/middle-east-well-completion-equipment-and-services-1197610127.html

Well completion equipment and services are important for well construction. The services enhance long-term production and also prevent the movement of reservoir sand into a wellbore, thus improving the production from the well.

Major oil companies are investing in the Middle East region to increase their profit margin and to explore the untapped offshore market.

Deep water activities will drive the well completion equipment and services market in the coming years.

The Middle East well completion equipment & services market has been segmented by type, application, and country. The market segmented on the basis of country includes Oman, Saudi Arabia, UAE, Qatar, and Rest of Middle East.

In terms of type, the market is segmented into packers, sand control tools, multi stage frac tools, liner hangers, smart wells, safety valves, and others. The market based on application covers onshore and offshore.

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The market in Saudi Arabia accounted for the second-largest share of 38.6% in 2014 followed by Oman. The rising E&P activities and technological advancements are driving the growth of this market.