LONDON, Feb. 3, 2016 /PRNewswire/ -- Enabling Break Through Technology for Cost Effective and Safe Drilling
As oil and gas companies move to more unpredictable and complex offshore drilling environments, a focus is given on safety and creating a risk-free environment. Offshore drilling possesses hazards like kick, loss circulation, and sticking of pipe due to differential pressure, which can lead to pipe twisting. These can have a significant impact on non-productive drilling time. This analyses the importance of the managed pressure drilling (MPD) market for safe and cost-effective drilling. Key drivers and restraints are discussed along with their impact in the short term and long term. The MPD systems market size is based upon the number of key industry players. The base year for the study is 2014 with a forecast period from 2015 to 2020.
- The offshore drilling capital expenditure (CAPEX) spent is expected to grow from an estimated $ billion in 2014 to $ billion by 2020 with a compound annual growth rate
(CAGR) of %.
- Despite this growth, conventional drilling includes hazards like influx of the drilling fluid due to the loss of circulation and the sticking of pipe due to differential pressure (which could lead to twisting of the pipe), these hazards accounts to % of the non-productive time (NPT).
- Managed pressure drilling (MPD) is an emerging drilling technology that can be a reactive and proactive method, which helps to control most of the drilling hazards by making minimum modification to the rig setup.
- Different types of MPD are:
o Constant Bottom Hole Pressure (CBHP)
o Mud Cap Drilling (MCD)
o Dual Gradient Drilling (DGD)
o Return Flow Control (RFC)
- MPD reduces almost % of the conventional drilling problems, thereby reducing the NPT and cost of drilling.
- Lack of expertise in MPD technique and high initial capital expenditure are two main reasons for sluggish growth in this market.
- The MPD service market is expected to grow at a CAGR of % and reach $ billion by 2020.
- Though demand for MPD is expected to increase globally, North America will be the largest contributor due to high CAPEX investment and R&D in new technology.
- China and Russia will be the biggest contributor for MPD service market, mainly due to cheap labor and a high level of technological innovation.
- CBHP is an MPD technique that controls or reduces the effect of circulating frictional losses thereby maintaining the bottom hole pressure within pore pressure and fracture
- Pressurized mud cap drilling (PMCD) maintains the well bore pressure above the reservoir pressure by using heavier mud to prevent gas influx reaching the rig floor.
- In DGD, two different densities of fluids are used to control the well pressure, thereby reducing lost circulation.
- RFC acts as a safety valve and helps in maintaining safe working environment in the rig floor.
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