Global **Managed Pressure drilling Market **Share, Future Prospects, Key Players Analysis 2018

Market Highlights:-

The demand for energy and power is ever increasing and has resulted in increasing exploration activities both onshore and offshore. Exploration has resulted in increasing drilling activities which is pushing the demand in the Managed Pressure drilling market. Increasing exploration activities in deep water and ultra-deep water will significantly contribute towards the growth and development of the Managed Pressure drilling market.

According to a recent study report published by the Market Research Future, The global market of Managed Pressure drilling is booming and expected to gain prominence over the forecast period. The global Managed Pressure drilling market is forecasted to demonstrate an exponential growth by 2023, surpassing its previous growth records in terms of value with a whooping, CAGR during the estimated period (2018 – 2023).

Managed pressure drilling (MPD) is a drilling technique that uses enclosed and pressurized circulation system to provide precise wellbore control. MPD is applicable in severe conditions, such as fluid loss, tight pore pressure, high-pressure, high-temperature drilling, differential sticking, unknown pore pressure, and various other conditions.

Industry Top Key Players:-

Some of the key players in the managed pressure drilling market are Weatherford International (Ireland), Archer Well Services (U.K.), Schlumberger Limited (U.S.), Halliburton (U.S.) and Baker Hughes (U.S.).

The report for Managed Pressure drilling Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

Industry News

In June 2017, Noble Corporation plc has awarded AFGlobal a contract for the provision of an integrated deepwater managed pressure drilling (MPD) system. The contract include the supply and installation of a completely integrated, next-generation MPD system.

In July 2016, AFGlobal Corp. has agreed to acquire Managed Pressure Operations (MPO), a subsidiary of MHWirth. This acquisition helps the company to solidify their position as a specialized original equipment manufacturer (OEM).

EFC Group, has developed a long-term relationship with Weatherford, leading to multiple contract awards for Managed Pressure Drilling equipment supply to support the Weatherford Secure Drilling services business. These contract include the design and supply of direct hydraulic controls, hydraulic power units, choke, flow metering and buffer manifolds as well as integrated reelers, umbilicals, hoses & stab plates.

Regional Analysis of Managed Pressure drilling Market:

North America is expected to dominate the Managed Pressure Drilling market mainly due to significant exploration onshore and offshore, undertaken in this region. Increasing demand for budget drilling techniques is expected to increase the demand in the Managed Pressure Drilling market.

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