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Oilfield Chemicals Market report categorizes global market by Type of Oilfield Chemicals, and method of Application - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Oilfield Chemicals Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2016-2024
Chemical components that are majorly used in oil & gas extraction operations
are called as oilfield chemicals. Oilfield chemicals find applications in
cementing, enhanced oil recovery, drilling fluids, well stimulation, production
chemicals, and workover & completion.
Oil, which is produced in the oilfield usually contains large amount of water that
gets mixed with the oil through oil drilling process or naturally, especially in
offshore drilling and wells. It is important to separate the oil from the water so
as to purify it, as well as to reduce the corrosion of the containers ferrying the
oil and pipelines. Among the applications, demulsifiers are used for this purpose
in the oilfield. Demulsifiers are used to reduce the density of the oil, causing
easier separation of the two chemicals, while at the same time reducing the
corrosion of pipelines that might lead to higher maintenance costs of equipment.
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Furthermore, key players in the market are focused on adopting strategies such
as technological development and collaborations, in order to strengthen their
footprint in the global oilfield chemicals market. For instance, in 2017, Shell
Petroleum Development Company of Nigeria Ltd (SPDC), a subsidiary of
Royal Dutch Shell Plc., commenced production plant at Gbaran-Ubie Phase 2, a
key project in the Niger Delta that will help to boost gas supply to the domestic
market and maintain supply to the export market. The company expects to reach
peak production at Gbaran-Ubie Phase 2, in 2019 with around 175,000 barrels
of oil equivalent per day.
Major players operating in the global oilfield chemicals market include, Baker
Hughes Inc., Halliburton, Schlumberger Ltd., Weatherford International Ltd,
Diamoco Group, Royal Dutch Shell Plc, Solvay S.A, and The Egyptian Mud
Engineering & Chemicals Company.
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pallavi.reddy
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