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Wireline logging is the process used by the oil & gas well operators to examine the properties of a formation. Continues study of the formation is carried out during the wireline logging to make the decisions regarding the drilling and production operations of a well. The process of wireline logging is carried out using the electrical cabling technology which involves usage of some special tools which are lowered into the drilled hole to study the formation attributes.
Real-time controlling of the borehole operations is achieved using the wireline logging. The advantages of wireline services also include evaluation of gathering information of pore size, pressure gathering for production fluid formation and sample recovery. With the increase in the drilling activities in various regions at both onshore and offshore locations the wireline logging market is set to grow at a healthy rate during the given forecast period.
Based on technology, the global wireline logging market can be segmented into electric line and slickline. The advantage of data transmission in logs in case of electric lines makes it more convenient for the well operators to determine the formation. This will see the electric line segment dominates the global wireline logging market. Based on hole type the global wireline logging market can be segmented into open hole and cased hole. The number of cased holes has increased in recent years owing to their advantages over open hole which will see cased holes dominate the wireline logging market over the given forecast period.
Key Market Driver -
Key Market Driver – Increased demand of oil and natural gas
Key Market Restraint -
Key Market Restraint – Increased adoption of renewable sources of energy
The major market driver for the global wireline logging market is the increasing demand for energy around the world. The increased demand for energy has seen the rise in exploration activities being carried out for oil and natural gas. Also, the need to increase the efficiency of the drilled well and avoid inherent losses will propel the growth of the wireline logging market.
Key market restraint for the global wireline logging market is the increased adoption of renewable sources of energy, which will see a decline in the demand for oil and directly hamper the growth of the global wireline logging market. Also, the high cost involved in the equipment and operation can affect the growth of the wireline logging market.
Some of the notable companies in the global wireline logging market are Archer - the well company, Baker Hughes, a GE company, Basic Energy Services, China Oilfield Services Limited, Schlumberger, Superior Energy Service, FMC Technologies, Halliburton, Weatherford, Weir Oil and Gas, Emerson, National Oilwell Varco, Siemens, and Weltec.
The global wireline logging market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market for the wireline logging currently holds the maximum share in the North America region owing to the increased exploration activities being carried out in the region.
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The major share in the region is occupied by the US. After North America, Asia Pacific region holds the second largest market for the wireline logging. China, India and the Southeast Asian countries have been the dominating countries in the region. Europe has seen steady growth in the wireline logging market over the years. Also, the market in the Middle East and & Africa holds a great opportunity owing to increase in number of exploration activities.
By Hole Type
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