Key Players in the Europe Drilling Waste Management Market are Schlumberger Ltd., Halliburton, Baker Hughes (U.S) and Weatherford International Ltd, among others.
(PRWEB) January 06, 2015
The European drilling waste management market report defines and segments the concerned market in Europe with analysis and forecast of revenue. The market was valued at $946.1 million in 2013 and is projected to reach $1,738.0 million by 2019, at a CAGR of 10.7% between 2014 and 2019.
Browse through the TOC of Europe Drilling Waste Management Market for an analysis of industry trends and segments, with the help of various tables and figures.
The increasing energy demand has led to increased exploration & production activities globally, which requires a lot of drilling activities. Drilling activities produce waste fluids and drill cuttings on a large scale. These wastes are toxic in nature and can cause severe harm to the environment if not treated properly before disposal. To avoid such hazards to the environment, oil exploration and production companies are increasingly adopting drilling waste management practices.
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European governments have imposed stringent regulations for drilling waste discharge. For instance, Norway has implemented zero waste disposal in the North Sea for oil exploration activities.
Europe is the second-largest market for drilling waste management. Russia led the market in 2013 with a share of approximately 78%. Russia is one of the largest oil & gas producers in the world. Extensive drilling and production activities make drilling waste management important for the country’s oil & gas industry. In addition, stringent regulations regarding the discharge of synthetic and oil-based mud cuttings also act as a driver for the drilling waste management market in this country.
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The treatment & disposal market, with around 41% of the market share in 2013, led the European services market, followed by solid control & containment & handling.
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