Factors, such as targets to increase oil production, and upcoming exploration and drilling activities in Iraq are expected to increase the demand for wireline logging and well-testing services market during the forecast period.
Increasing the Oil Recovery from Existing Reserves - Creating Opportunities in the Market
The southern, western, and central region are relatively more isolated from the effects of terrorist activities and political tension in the country. These regions also have about 80% of the oil reserves in the country, which is mostly in the production phase. However, the oil recovery from these regions is limited, as the oil and gas industry in the country has been mainly reliant on the water injection methods to improve the oil production from these fields. Iraq has limited water availability, which puts limitations on oil recovery by water injection. Focus on other improved oil recovery techniques, such as artificial lift, gas injection, and other recovery methods can help the country in increasing oil production substantially. Such improved oil recovery techniques can help drive the upstream activity in the country, in turn, providing the opportunity for the market for oilfields services, such as wireline logging and well testing.
Key Developments in the Market
- January 2019: Halliburton Inc. won a contract of worth around USD 19 billion to drill four to six rigs over the next two years. The project is being developed by a joint venture between Missan Oil Company, Kogas, Occidental Oil & Gas International, and Eni Group. The scope of service includes the delivery of integrated drilling services for Zubair Oil Field in Iraq’s Basra governate. The project consists of degassing stations, the drilling of 60 wells, wire-line logging, revamping existing production facilities, and acidifying and well-testing work.
- June 2018, China-based Geo-Jade Petroleum signed two contracts with the government of Iraq to develop Naft Khana block in the country. In the same month, another China-based company, United Energy Group signed a contract to develop the al-Sindibad block.
- August 2018: The state-run companies, Dhi Qar Oil and Iraq Drilling, announced their plan to invest USD 140 million to the output of the Nassiri field from 90,000 barrels per day to 200,000 barrels per day by the end of 2019.
Schlumberger Limited, Halliburton Company, Baker Hughes A GE Company, Weatherford International Plc, The Engineering and Development Group (EDGO), amongst others.
Reasons to Purchase this Report
- Identify the drivers, restraints, and opportunity in the Iraq Wireline Logging & Well Testing Services market, with an in-depth analysis
- Analyze the various perspectives of the market with the help of Porter’s five forces analysis
- Identify the latest developments, and strategies adopted by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in excel).
1.1 Scope of Study
1.2 Market Definition
1.3 Study Assumptions
1.4 Study Deliverables
1.5 Research Phases
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET OVERVIEW
4.2 Number of Production and Completed Wells (2011-2017)
4.3 Active Rotary Drilling Rig Count (January 2014 - March 2019)
4.4 Iraq Wireline Logging Services Market Size and Demand Forecast, in USD million, until 2024
4.5 Iraq Well-testing Services Market Size and Demand Forecast, in USD million, until 2024
4.6 Government Policies and Regulations
4.7 Recent Trends and Developments
4.8 List of Key Players and Contact Details
4.9 Market Dynamics
4.10 Industry Supply-Chain Analysis
4.11 Porters 5 Force Analysis
4.11.1 Wireline Logging Services
220.127.116.11 Bargaining Power of Suppliers
18.104.22.168 Bargaining Power of Consumers
22.214.171.124 Threat of New Entrants
126.96.36.199 Threat of Substitute Products and Services
188.8.131.52 Intensity of Competitive Rivalry
4.11.2 Well-testing Services
184.108.40.206 Bargaining Power of Suppliers
220.127.116.11 Bargaining Power of Consumers
18.104.22.168 Threat of New Entrants
22.214.171.124 Threat of Substitute Products and Services
126.96.36.199 Intensity of Competitive Rivalry
5. COMPETITIVE LANDSCAPE
5.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements
5.2 Strategies Adopted by Leading Players
5.3 Company Profiles
5.3.1 Schlumberger Limited
5.3.2 Halliburton Company
5.3.3 Baker Hughes A GE Company
5.3.4 Weatherford International plc
5.3.5 The Engineering and Development Group (Edgo)
6. MARKET OPPORTUNITIES AND FUTURE TRENDS