Key Players in the Asia Pacific Waste Management in Drilling Market are Schlumberger Ltd., Halliburton, Baker Hughes (U.S), and Weatherford International Ltd,
(PRWEB) December 05, 2014
The report “Asia Pacific Waste Management in Drilling Market (Containment & Handling, Treatment & Disposal&Solid control) - Forecasts to 2018”analyzes and studies the major market drivers, restraints, opportunities, and challenges in Asia Pacific.
This report studies the Asia Pacific Waste Management in Drilling market over the forecast period of 2013–2018. The market is expected to reach ~$1.1 billion by 2018, at CAGR of 11.0% from 2013 to 2018.
Oil and gas exploration activities require extensive drilling in the earth’s crust to extract crude oil and natural gases. The outcome of this drilling activity is mainly crude oil and drilling mud.This drilling mud includes drilling fluids and materials obtained from the earth’s crust, such as sand, rocks, and drill cuttings among others. Drill mud and drill cuttings are harmful to the environment, and hence its management becomes a matter of prime concern. These environmental impacts are mainly caused due to emissions that are generated during drilling operations. The increasing demand of environmental protection and avoiding the contamination of drilling fluids has given rise to the concept of waste management in drilling operations.
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Asia Pacific is the fastest growing market among all regions worldwide, as it consumes a lot of energy to keep this growth intact. Petroleum products are important sources of energy, thereby resulting in the exponential demand for crude oil in this region.Handling waste produced by the extraction activity of crude oil becomes a mandatory task for major oil and gas explorer companies. Stringent regulations and compliance norms imposed by the government in Asia Pacific countries to minimize the environmental risk,especially in the vicinity of oil production sites, makes waste management highly significant. Therefore, these factors act as major market drivers for the Asia Pacific waste management in drilling market.
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The Asia Pacific region is dominating the waste management in drilling market, wherein China holds the maximum share of around 40% in comparison to other countries in this region. Schlumberger (U.S.), National Oil well Varco, Inc., (U.S.), Baker Hughes Inc., (U.S.), Weatherford International Ltd (U.S.) are prominent market players in the waste management in drilling market in Asia-Pacific.
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Global Containment & Handling Market
Containment and handling is concerned with the compilation of waste stream that contains fluid and cuttings from solid control system. The fluids produced from drilling actions may pollute low ground water. Ecological clean-up of these contaminants released can be an expensive and time consuming procedure, making anticipation of released contaminants significantly important. Therefore containment and handling is an important procedure in organizing waste.
This particular market of this containment and handling will increase more in forthcoming years because of increase in industrialization. The increasing trend in the containment and handling market is set to continue further with the current surge in oil discovery and unconventional resources exploratory activities.
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