Regional Analysis
Global Managed Pressure Drilling Services Market Outlook
- North America is witnessed to be the largest market of managed pressure drilling services with the immense support and contribution of the U.S. accounting for the highest share, which is backed by Canada with major development in the exploration and production activities in tight oil and tar sands. The exploration and production activities in Gulf of Mexico have given opportunities to the operators for using managed pressure drilling services across the globe. In Kaikias deep sea oil field located in Gulf of Mexico, Royal Dutch Shell Company found 100 million barrels of oil equivalent.
- Africa is witnessed to be fastest growing region in the managed pressure drilling services market majorly due to the discoveries in the offshore basins in the economy, such as Mozambique, Angola, and Tanzania. Major players namely ENI SPA, British Petroleum, and Royal Dutch Shell are fueling the growth of managed pressure drilling services market in this region. In 2010, an estimated 85 trillion cubic feet of gas was discovered in the Rovuma basin in Mozambique.
- Middle East is projected to be the significant market in the managed pressure drilling services, owing to the development of the offshore region in the Red Sea by economies such as Qatar, Saudi Arabia, and UAE.