LONDON, Dec. 7, 2015 /PRNewswire/ -- Oilfield chemicals play a significant role at each stage of exploration and production of oil & gas, from drilling to transport of output from the field to refinery. Oilfield chemicals are used during this entire process with the prime objective of enhancing the production capacity and process efficiency. Saudi Arabia accounts for the second largest crude oil reserves globally, with a decent reserve to production ratio of 63.6 in 2014, depicting efficient utilization of proved reserves. Oil production and natural gas production in the country grew at a CAGR of 3.42% and 3.34%, respectively, during 2010-2014, consequently aiding the demand for oilfield chemicals. Moreover, increasing demand for fuel and energy in domestic as well as export market is shifting the focus of oil companies in Saudi Arabia towards offshore drilling activity, to further increase oil & gas production in the country. Rise in offshore drilling activities in Saudi Arabia, in addition to existing onshore activities, is anticipated to drive the demand for oilfield chemicals in the country over the next five years.
According to "Saudi Arabia Oilfield Chemicals Market Forecast & Opportunities, 2020", the oilfield chemicals market in Saudi Arabia is projected to surpass USD960 million by 2020. Growth in the market is expected on account of rising oil & gas production, along with anticipated growth in the exploration of shale gas deposits in the country. Saudi Arabia is home to 100 major oil and gas fields, of which 8 oilfields produce more than 50% of crude oil every year. Most of these large-capacity oilfields lie in the eastern province of the country, due to which the eastern province continues to dominate the market in terms of revenue contribution. Saudi Aramco is currently the largest oil and gas operator in Saudi Arabia, while Baker Hughes is the leading oilfield chemicals producer, followed by Nalco Champion and REDA Oilfield. "Saudi Arabia Oilfield Chemicals Market Forecast & Opportunities, 2020" elaborates on the following aspects of the oilfield chemicals market in Saudi Arabia:
- Saudi Arabia Oilfield Chemicals Market Size, Share and Forecast
- Segmental Analysis- Drilling Fluid Chemicals, Production Chemicals, Completion Fluid Chemicals, Cementing Chemicals/Additives, Well Stimulation Fluid Chemicals & EOR Chemicals
- Policy & Regulatory Landscape
- Changing Market Trends & Emerging Opportunities
- Competitive Landscape & Strategic Recommendations
Why You Should Buy This Report?
- To gain an in-depth understanding of oilfield chemicals market in Saudi Arabia
- To identify the on-going trends and anticipated growth in the next five years
- To help industry consultants, oilfield chemicals manufacturers and stakeholders to align their market-centric strategies
- To obtain research based business decisions and add weight to presentations and marketing materials
- To gain competitive knowledge of leading players
- To avail 10% customization in the report without any extra charges and get research data or trends added in the report as per the buyer's specific needs
The information contained in this report is based upon both primary and secondary sources. Primary research included interviews with oilfield chemicals manufacturers, distributors and industry experts. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.
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