The African Waste Management in Drilling market was valued at $0.2 billion in the 2013, to grow at 13.46% annually. It is projected to reach $0.5 billion by the end of 2018
(PRWEB) May 20, 2014
Within Africa, countries such as Nigeria and Angola are the most advanced countries where effective drilling waste management practices are implemented. Increasing offshore activities in the region will drive the waste services industry growth at a CAGR of 13.0% between 2013 and 2018, to reach $477 million by 2018.
Browse through the market data tables and figures and detailed ToC on the “Africa Drilling Waste Management Market”.
The oil and gas drilling process generates two primary types of wastes, namely drill cuttings and used drilling fluids. Most of the wastes associated with oil and gas drilling activities can cause significant hazards to the environment. Hence, these wastes need to be effectively treated and disposed off in order to minimize the impact to the environment. Universally, countries have employed various regulatory measures to tackle this challenge. The waste management hierarchy lays out a preferred methodology of waste management options. Source reduction is the first and most favored option.
Recycling is the second preferred option in the waste management hierarchy. Treatment and disposal, which are at the bottom of the hierarchy, are the least preferred options in waste management. The coiled tubing (CT) industry is one of the fastest-growing segments within the oilfield services sector. Advancement in technology and increasing applications of CT services in field operations drives this industry’s growth. Also, the usage of CT eliminates the need for workover rigs for intervention applications, reducing the associated costs that have enabled the industry find markets across the region. The coiled tubing is currently a multi-billion dollar market and is well established in terms of its applications.
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Middle East Drilling Waste Management Market:
The Middle East is one of the emerging regions in the drilling waste services industry. Oil & gas operators within the region are formulating effective practices to protect the biotic environment from hazardous drilling wastes generated during drilling operations. The drilling waste management in the Middle East was valued at $244 million in 2013. By 2018, the market is expected to reach $447 million, at a CAGR of 12.9%.
Asia Pacific Drilling Waste Management Market:
The Asia-Pacific drilling waste management market was valued at $693 million in 2013. Rapid industrialization and an ever increasing demand for energy have resulted in increased activities of upstream oil and gas industries in the region. These increased activities generate millions of barrels of drilling wastes each year that led the governments in Asia-Pacific to pass regulations that mandate effective management of these waste products. Within the Asia-Pacific region, China and the Central Asian countries are the biggest markets for drilling waste management services. Increasing environmental awareness among the countries in the region is expected to drive this industry to make it a billion-dollar industry by 2018.
Middle East Coiled Tubing Market:
The CT market in the Middle East was valued at $298 million in 2013. Within the Middle East region, Saudi Arabia, UAE, and Kuwait are the major countries where CT services are mostly used. The existing reserves are aging in the region, significantly increasing the number of matured wells, and in turn, expanding the scale of oil field services as well as CT. Also, the region is witnessing new offshore activities expanding the scope of well completion services. Between 2013 and 2018, the CT market in the region is expected to witness a strong growth at a CAGR of 11.8% to reach $521 million by 2018.
Africa Coiled Tubing Market:
The new discoveries together with offshore activities in the region are likely to push the production levels of oil & gas requiring increased well completion and cleaning services. The CT market in Africa was valued at $140 million in 2013. Within Africa, Algeria, and Egypt are the major countries where CT services are mostly used. Between 2013 and 2018, the CT market in the region is expected to witness a strong growth at a CAGR of 12.9% to reach $256 million by 2018. Other major countries in the region include Nigeria, Angola, and Libya.
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