Invest In Self-Assembling Rigs And Reduce Costs!

Companies involved in providing support activities for oil and gas operations are offering self-assembling rigs to reduce operating costs and save time. Self-assembling rigs are automated rigs that can...

Companies involved in providing support activities for oil and gas operations are offering self-assembling rigs to reduce operating costs and save time. Self-assembling rigs are automated rigs that can walk at up to 30 feet per hour, rotate 360 degrees, and can be operated with a remote control. Conventional oilfield drilling rigs require a crane to assemble them in pieces and thus consume more time. Self-assembling rigs ship in lower amount of loads, can assemble automatically, and move faster compared to conventional rigs. Self-assembling rigs are supported by control room with touchscreen and joysticks, and 200 sensors to monitor pneumatics, oil flow, and other processes. Major companies offering self-assembling rigs include Dragon Drilling Co., Stewart & Stevenson and Atlas Copco.

THE BUSINESS RESEARCH COMPANY EXPECTS THE OIL AND GAS SUPPORTING ACTIVITIES MARKET TO GROW TO $244 BILLION BY 2021

North America was the largest region in the oil and gas supporting activities market in 2017, accounting for more than one-fourth market share. This was mainly due to presence of crude oil extraction and rise of shale producers, thereby driving demand for outsourced supporting companies.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, companies providing support activities for oil and gas operations are using rig-less technology to reduce turnaround time for decommissioning of wells. Rig-less P&A refers to decommissioning of oil wells wherein companies need not replace tubes and drill pipes while placing primary or secondary barriers, thus offering significant cost savings over rig-based operations Also,the equipment used for rig-less P&A can also be operated at a water depth of 1600 feet . For instance, Claxton Engineering Services has carried out plugging and abandoning of more than hundred wells in North Sea using rig less P&A technology.

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Halliburton was the largest player in the oil and gas supporting activities market, with revenues of $9 billion in 2016. Halliburton’s growth strategies aim at reducing its work force to overcome the deal with rapid decline in oil prices. Since September 2015, the company has laid off almost 29 thousand employees globally. It has also increased its service charges to compensate its losses.

The support activities for oil and gas operations industry comprises establishments, which provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling and extraction.

Oil And Gas Supporting Activities Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $4000 for an individual user. To use across your office, the price is $6000 and $8000 if you wish to use across a multinational company.

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