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Drilling and completion fluids comprise the fundamental requirements for starting the field development process after the successful exploration of the oil field. Large quantities for oil is required as fuel for many industries including transportation, automobiles, lubricants, chemicals and others. For meeting the demand of fuel, discoveries are immensely carried out. Besides, in this scenario of recovering crude oil prices after the crises of 2014, the oil exploration and production business is extremely profitable. The first phase of field development process of an oil field is always the construction of oil wells, which require drilling fluids for well control and pressure maintenance at the surface and provide ease of drilling.

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On the other hand, completion fluids are liquids containing salts for density and avoiding formation damages. Besides, the completion fluids make excellent packer fluids that are capable of operations expedition. These fluids are designed to match specific reservoir criteria, taking into account critical factors such as equivalent static density (ESD), contamination risks, and crystallization temperatures.

Prominent Players

The fundamental competitors functioning in the drilling and completion fluids market are Schlumberger (U.S.), Halliburton (U.S.), China oilfield services Ltd. (China), Newpark Resources Inc. (U.S.), Weatherford International Plc. (U.S.), M-I Swaco (U.S.). National Oilwell Varco (U.S.), BASF SE (Germany), DuPont (U.S.), Chevron Phillips Chemical Company (U.S.), AkzoNobel N.V. (Netherlands), Stellar Drilling Fluids LLC (U.S.), The Dow Chemical Company (U.S.) and, Scomi Group (Malaysia) are among others.

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Industry Updates:

Jan 2019 BHGE’s OFS segment has recently signed a four-year contract to offer drill bits, drilling services, drilling and completion fluids, completion and cementing solutions to an important customer in Colombia. BHGE will support major drilling campaigns through this deal while developing new technology in partnership with the customer and support conventional operations.

Segmental Analysis

The segmentation of the drilling and completion fluids market has been carried out on the basis of well type, type and region.

Based on well type, the market of drilling and completion fluids is segmented into offshore and land.

On the basis of type, the drilling and completion fluids market has been segmented into water-based systems, oil-based systems, synthetic-based systems, foams, and other fluids.

The region-based segmentation of the industry comprises of regions such as Asia Pacific, Europe, North America, and the rest of the world.

Regional Outlook

The analysis based on regions in the drilling and completion fluids market consists of Asia Pacific, North America, Europe and the rest of the world. The drilling and completion fluids market are anticipated to perceive exceptional progress throughout the forecast period globally. The European and Africa regions which are near the North Sea control the significant market share, owing to the new oil detections from these regions.

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