Expansion of drilling activities in remote areas of the fragile environment is contributing to the growth of the market

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Dublin, May 23, 2022 (GLOBE NEWSWIRE) — The “Global long-range drilling market, by type (shallow, intermediate, deep and ultra-deep), by well type (3D wells, deviated wells, other), by technology , by Report Application, By Region, Competition Forecast and Opportunities, 2017-2027″ has been added to from ResearchAndMarkets.com offer.

The global long reach drilling market is expected to grow at a significant rate, with the growth of the market being attributed to advancements in technology and rising demand for oil and gas from various end-user industries.

Developments in multiple drilling-related tools and technologies to improve procedural efficiency and increase oil production are also fueling the growth of the global long-range drilling market.

In addition, the expansion of drilling activities in the remote areas of the fragile environment is also contributing to the growth of the global long-range drilling market.

Rising global demand for oil and gas owing to rising industrialization activities and growing applications of technologies such as rotary steerable systems and friction reduction tools among others is propelling the growth of the global oil drilling market to Long range. Additionally, the expansion of various industries such as automotive, construction, and other manufacturing units and growing demand for oil excavation is contributing to the growth of the market.

The use of advanced tools and technologies to increase oil production capacity while eliminating oil losses is also positively influencing the growth of the global long range oil drilling market. Additionally, increasing investments from government authorities and the private sector and development of innovative tools are supporting the growth of the global long reach oil drilling market.

The shallow type segment is expected to hold the largest share in the global long reach drilling market owing to the growing number of oil excavation projects globally. Based on well type, the market is sub-segmented into 3D wells, deviated wells and others. Deviated wells are expected to dominate the global long-range drilling market owing to the growing reliance on long-range drilling processes.

The major players operating in the global long reach drilling market are China Oilfield Services Limited, HXR Drilling services, K&M Technology Group, Schlumberger Limited, Baker Hughes, Halliburton Company, Weatherford International, Mubadala Petroleum Ltd.

Goal of the study:

  • To analyze historical growth in market size of Global Long Range Drilling Market from 2017 to 2021

  • Estimate and forecast the market size of Global Long Range Drilling Market from 2022E to 2027F and the growth rate till 2027

  • Classify and forecast the global Extended Reach Drilling Market based on type, well type, technology, application, region and competitive landscape

  • To identify the dominant region or segment in the global Long Reach Drilling market

  • Identify the drivers and challenges of the global long reach drilling market

  • Examine competitive developments such as expansions, mergers and acquisitions, etc., in the global long reach drilling market

  • To identify and analyze the profile of key players operating in the global Long Reach Drilling market

  • Identify the key sustainable strategies adopted by market players in the global Long Reach Drilling market

Competitive Landscape: Detailed analysis of the major companies present in the global Long Reach Drilling market

Report Scope:

Years considered for this report:

Long Range Drilling Market, By Type:

  • Shallow

  • Intermediate

  • Deep

  • ultra deep

Long-Range Drilling Market, By Well Type:

  • 3D well

  • Deviated wells

  • Others

Long Range Drilling Market, By Technology:

Long Range Drilling Market, By Application:

Long Range Drilling Market, By Region:

North America

  • United States

  • Mexico

  • Canada

  • Europe

  • France

  • Germany

  • UK

  • Italy

  • Spain

  • Poland

  • Denmark

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Singapore

  • Malaysia

Middle East and Africa

  • South Africa

  • Saudi Arabia

  • United Arab Emirates

  • Iraq

  • Turkey

South America

  • Brazil

  • Argentina

  • Colombia

  • Peru

  • Chile

For more information on this report, visit https://www.researchandmarkets.com/r/fr3nc1

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