Global Managed Pressure Drilling Services Market, By Technology, and Application
Managed pressure drilling (MPD) refers to a drilling technique that uses enclosed and pressurized circulation system to provide precise wellbore control. Managed pressure drilling does not manipulate the ‘window’ (fracture gradient and pore pressure), rather helps the operator to remain in that window. MPD is applicable in severe conditions, such as fluid loss, tight pore pressure, high-pressure, high-temperature drilling, differential sticking, unknown pore pressure, and various other conditions.
The success of MPD is notified by the good extraction activities in the areas that are recognized as uneconomical for production. The decline in the production rate and increase in energy demand has giving tremendous speed to the managed pressure drilling services globally. Development in technology coupled with MPD techniques in horizontal drilling is expected to create new opportunities for the market players involved in this industry over the forecast period. However, a large amount of drilling fluid requirement with no surface return have restricted the growth of managed pressure drilling services market.
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The method of Constant Bottom Hole Pressure segment is projected to be the prominent segment in the managed pressure drilling services market, owing to its extensive use in wells having high uncertainty on the pressure limits. CBHP technology controls the annular pressure with detecting fluid losses and kicks while drilling with better safety. This technique is extensively used in the Gulf of Mexico, North America.
Offshore segment is anticipated to have the fastest growth in the managed pressure drilling services market over the forecast period, owing to the preference of this technique in offshore basins rather than onshore. The growth of this segment is further backed by the rise in exploration and production activities in the deep and ultra-deep waters.
The key players operating in the managed pressure drilling services market include Schlumberger Ltd., Halliburton, Baker Hughes, Weatherford International, Archer Well Services, National Oilwell Varco, and Aker Solutions.
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