Posts
Drilling chemicals are an integral part of biotechnological engineering
and are used in drilling boreholes for different purposes. They have a
wide-ranging application in the drilling of liquid petroleum and natural gas
and even fresh groundwater. These chemicals most often come in the form of
solid drilling mud popularly known as drilling mud. It is a thick liquid that
easily sticks to the surface when sprayed with a fine mist, making it easy to
mix and apply as required during the drilling operation. These chemicals
usually contain gypsum as their main ingredient, which is commonly known for
its ability to stick to a variety of surfaces including concrete, asphalt, and
even stone. They also consist of various polymers such as PVC, silicone,
polyurethane, and others that possess attributes that make them ideal for use
in the extraction of liquids that tend to be slippery such as seawater and
groundwater. The majority of these chemicals are injected into the borehole
after the completion of a drilling operation so that they can serve as an
adhesive and hold up the formation of the borehole while it is freely flowing
beneath the ground. This method of injecting the fluids enables them to stay
attached to the drilled hole for a prolonged period of time so that the
formation of the borehole does not slip away.
Market
Dynamics
The main driving factor influencing the growth of the drilling chemicals market are the increased demand for the chemicals in energy and
mineral exploration and the rapid expansion of urbanization. Governmental
bodies all across the globe are also rapidly investing in unconventional oil
and gas drilling projects to boost economic productions. For instance, in
January 2018 the U.S. Department of Energy invested approximately US$ 30
million for research and development activities related to the unconventional
development of shale.
However, growing concerns related to the harmful
environmental effects of the disposed waste drilling materials have forced governmental
bodies all over the world to issue stringent orders related to the disposal and
treatment of waste drilling chemicals. This is the main restraining factor
hindering the market growth. The U.S. Environmental Protection Agency (EPA) has
put a limit on the usage of oil-based drilling chemicals in offshore activities
owing to the presence of a critical level of atomic substitute that can pose to
be a major threat to the marine ecosystem.
This market is distributed in five regions that include
North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin
America. Among these, North America is expected to hold a bigger share of the
drilling chemicals market owing to factors such as the rapid expansion of shale
and increase offshore drilling activities in the Gulf of Mexico. For instance,
U.S. President Joe Biden has issued 31 new permits related to drilling
operations in the coastal waters and federal lands adjacent to the Gulf of
Mexico. The increase of research and development related to untapped gas and
oil reserve is also expected to boost the market growth in the region. The
drilling chemicals market in the Asia Pacific is estimated to witness
significant growth owing to an increase in oil exploration fields.
Competitive Analysis
Key players operating in the drilling chemicals market
include Halliburton, Oren Hydrocarbons, Schlumberger, M-I SWACO, Diamoco Group,
Newpark Drilling Fluids LLC., Baker Hughes, Global Fluids & Chemical Co.,
Weatherford International Ltd., Canadian Energy Services Inc., International
Drilling Fluids and Engineering Services (Idec) Ltd., Tetra Technologies Inc.,
MB Holding Company LLC, and Anchor Drilling Fluids Inc.
In May 2019 Baker Hughes launched a drilling fluid named
DELTA-TEQ, which has a low-pressure impact.
No comments:
Post a Comment