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Drilling Waste Management Market

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The global drilling waste management market size was valued at US$ 3.91 billion in 2016 and is expected to witness a CAGR of 6.30%, during the forecast period.
Drilling Waste Management Market, by Service Type,
Application, and Geography - Trends and Forecast
till 2025
Drilling waste management is a constituent of successful operation activities related
to E&P operations, which is essential for effective drilling and production operation
and for environmental protection. The waste streams from drilling includes drilling
fluids, cuttings, and interfacial mixtures. Large E&P (Exploration & Production)
activities, growing environmental concerns, and stringent government regulations are
some of the factors which is expected to fuel growth of the drilling waste
management market during the forecast period. The discovery of deep-water
hydrocarbon reserves created several opportunities for the oil and gas
manufacturers, supporting the growth of market. However, slump in crude oil prices
hamper the market growth.
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Drilling waste management is classified on the basis of service type such as solid
control, treatment & disposal, containment & handling, and others. Among service
type, treatment and disposal service segment accounted for largest share in drilling
waste management market. This is mainly owing to the onsite burial sites which
include landfill and pits, land farming, land spreading, slurry injection, thermal
treatment, and bioremediation. The solid control segment is expected to witness
significant growth, owing to the efficiency of the process. This service segment is
used to remove unwanted solids such as drill cuttings from drilling fluid, removes
gases, and other contaminants in the mud, providing maximum recovery for re-use
of drilling fluids. Drilling waste management is also classified on the basis of
application such as onshore and offshore. Onshore application segment holds the
largest revenue share in the drilling waste management market, due to wide
operations based on land. Furthermore, onshore drilling offers large options for
storage and transport of oil after extracting it from the well.
North America holds a dominant position in the global drilling waste management
market, with 36.40% market share. This is due to various drilling activities produced
by the increase of the shale gas. The U.S. Shale Revolution significantly increases
its oil and gas production, one of the biggest event for oil & gas industry. The
regulations in the U.S. promote the development of oil & gas, providing a stable
process. The stabilization of oil prices may result in increasing drilling activities in
North America, which in turn, drives the market growth.
Europe holds the second largest position, in terms of revenue, in the global drilling
waste management market. The market is driven by growing exploration activities,
supportive regulations, and increasing awareness towards environmental pollution.
Environmental regulations such as zero discharge policy in the offshore region drives
the market growth. The used drilling mud is considered as a kind of mining waste,
thus, it is subjected to 20/2006/EC mining waste directive, as per European
legislation. The drilling mud cannot be disposed on landfill facility and can be
re-injected into underground strata.
In Middle East and Africa, the discoveries of gas in Mozambique and Tanzania and
increased E&P (Exploration & Production) activities in Kenya and Uganda, holding
untapped oil and gas reserve potential in the region. The stringent environmental
norms for offshore projects and any spillage may result in additional operation cost,
ensuring the adoption of drilling waste management by the industry.
The drilling waste management market was valued at US$ 3.91 billion in 2016 and is
expected to witness a CAGR of 6.30%, in terms of revenue, during the forecast
period.
Among service type, treatment and disposal segment accounted to held major share
in the drilling waste management market in 2016. Factors such as high initial
investment and lack of skilled labor is expected to hamper the market growth.
Major Players in the Global Drilling Waste Management Market
Some of the key players operating in the global drilling waste management market
are Halliburton Co., Weatherford International Ltd., National Oilwell Varco, Inc., Xi'an
Kosun Machinery Co., Ltd., Tervita Corporation, TWMA Ltd., Step Oiltools,
Soli-Bond, Inc. Specialty Drilling Fluids Ltd., Soiltech, Scomi Group BHD, Secure
Energy Services, Inc., Schlumberger Ltd., Nuverra Environmental Solutions,
Ridgeline Canada, Inc., Newalta, Hebei Gn, Solids Control Co. Ltd., Imdex Limited,
Baker Hughes, Inc., Derrick Equipment Company, and Augean PLC
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Author
apeksha motghare
apeksha motghare510   documents Email
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