October 10, 2019 - 3:40 AM EDT
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The global oil and gas well conductor installation services market at a CAGR of almost 7% during the forecast period

Global Oil and Gas Well Conductor Installation Services Market: About this market This oil and gas well conductor installation services market analysis considers sales from both the offshore and onshore application.

New York, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oil and Gas Well Conductor Installation Services Market by Application and Geography - Forecast and Analysis 2019-2023" - https://www.reportlinker.com/p05821765/?utm_source=GNW
Our analysis also considers the sales of oil and gas well conductor installation services in APAC, Europe, North America, South America, and MEA. In 2018, the onshore segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as increasing investments in onshore E&P projects will play a significant role in the onshore segment to maintain its market position. Also, our global oil and gas well conductor installation services market report looks at factors such as the increasing upstream investment, rise in global demand for oil and gas, and increasing active rig count. However, volatility in oil and gas prices, growing emphasis on renewables, and environmental concerns related to drilling may hamper the growth of the oil and gas well conductor installation services industry over the forecast period.

Global Oil and Gas Well Conductor Installation Services Market: Overview

Increasing upstream investment

Oil and gas operators are investing in mature oilfields to maximize their revenue and address the decline in the production of many oilfields. Moreover, the growing population coupled with increasing industrial developments have significantly increased the global energy demand. Thus, untapped oil and gas resources are being explored using technological advancements to meet the global energy demand. As a result, governments of various countries are undertaking several initiatives to increase oil and gas production and achieve energy security. Upstream oil and gas companies are adopting various E&P technologies to tap unconventional reserves, such as shale oil and gas and oil sands. The increasing investments in upstream oil and gas will propel E&P activities, which will drive the demand for oil and gas well conductor installation.?These factors will lead to the expansion of the global oil and gas well conductor installation services market at a CAGR of almost 7% during the forecast period.

Developments in conductor installation

Conductor installation is a crucial step in the drilling activity of oil and gas as it offers stability to the well during its production and construction life. It provides stability to the well during its construction and production life. With the rising number of offshore projects, the need to reduce rig time is essential to balance the demand and supply of offshore rigs. Thus, vendors have introduced some technologically advanced products in the market. For instance, NeoDrill AS has launched its Conductor Anchor Node (CAN) technology that requires less rig time to install oil and gas well conductor pipe on the seabed. Such technological advances will have a positive impact on the overall market growth.

Competitive Landscape

With the presence of several major players, the global oil and gas well conductor installation services market is moderately fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading oil and gas well conductor installation services manufacturers, that include Acteon Group Ltd., AOS Orwell Ltd., Baker Hughes, a GE Co. LLC, China Oilfield Services Ltd., Frank’s International NV, Koninklijke Wagenborg BV, Overseas Petroleum Engineering Service Co., Pinnergy Ltd., Sanguine Oilfield Services LLP, and Solidgro Energy Sdn Bhd.

Also, the oil and gas well conductor installation services market analysis report includes information on upcoming trends and challenges that will influence the market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05821765/?utm_source=GNW

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Source: GlobeNewswire PR (October 10, 2019 - 3:40 AM EDT)

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