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Africa Drilling Services Market worth $22,169.5 million by 2019


The Report “Africa Drilling Services Market by Service (Contract Drilling, Directional Drilling, LWD, Drilling Waste Management), Application (Onshore & Offshore), Country - Analysis & Forecasts To 2019”, is estimated to reach $22,169.5 million by 2019, growing at a CAGR of 4.2% from 2014 to 2019.

                                           

Browse through the TOC of the Africa Drilling Services Market for an analysis of industry trends and segments, with the help of various tables and figures.

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The directional drilling service is the most frequently employed drilling service in the onshore application segment of the African drilling services market. This is due to the fact that most of the directional wells in the African region are drilled onshore. The onshore application segment of the African drilling services market is expected to gain additional share in the coming years, considering the high energy potential in most of the onshore areas such as Angola, Nigeria, Algeria, and Egypt, which is still an untapped zone. The leading oil companies are making investments in the African region to increase their profit margins. The onshore application segment of the African drilling services market is projected to constitute a major part of the overall market due to continuous increase in oil demand from the Asian countries.

Capital spending by exploration and production companies is on rise in the past few years and is expected to lead the way in the coming years as well. In the African region, Angola and Nigeria led the E&P investments which are largely driven by shallow water activities.

The rising demand for energy is putting pressure on the field operators to increase oil production. The depletion of the existing oil & gas reserves has necessitated exploration of new reservoirs which in turn, is fueling the growth of directional drilling services segment of the African drilling services market. The offshore drilling application segment of the African drilling services market is also expected to witness a tremendous growth in the coming years due to continuous increase in energy demand coupled with depletion of the existing hydrocarbon reservoirs.

Angola held the largest market share in the African drilling services market in 2014 and was accounted for a market share of 27.9%.  It was followed by Nigeria with a market share of 22.9%.

The main services in the concerned market are logging & bottom hole survey, tubing/packer failure & repair, stimulation, artificial lift, and others.  On the basis of geography, the market has been segmented into countries, such as Egypt, Angola, and Nigeria. Offshore is the main application of the African drilling services market and held 61.7% market share in 2014. The key players in the African drilling services market are Schlumberger Ltd. (U.S.), Weatherford International Ltd. (Ireland), Halliburton Co. (U.S.), and Baker Hughes Inc.(U.S.).

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