Technological advancements in oil & gas and growing demand for crude oil and natural gas are driving market demand.
TechSci Research’s report “Middle East Wireline Service Market – By Country, Competition, Forecast and Opportunities, 2028F,” the Middle East Wireline Service Market is projected to grow robustly from 2024 to 2028. Rising investments in the oil and gas sector and advancements in oilfield technologies are key growth drivers.
Wireline services in the oil and gas industry involve the use of cables for collecting subsurface data and providing well construction services. They play a crucial role in routine maintenance, reservoir evaluation, and operational efficiency. The demand for wireline services is expected to rise due to increased investments in exploration and production activities and the adoption of new technologies.
Saudi Arabia, with its low drilling costs and vast hydrocarbon reserves, remains a significant player in the oil industry. Despite efforts to diversify into renewable energy, oil continues to be the cornerstone of the economy, with plans for increased capital expenditures in the coming years to capitalize on high oil prices and drive further growth.
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The Middle East Wireline Service Market is categorized by well type, service, location, application, and region. The cased hole segment is expected to dominate due to its benefits in assessing cement state, corrosion, and perforation, offering insights into hydrocarbon saturation and producibility. The open hole segment is projected to grow significantly with on-site sensor deployment for real-time reservoir monitoring.
Electric lines are anticipated to lead in service segment, enhancing efficiency and preventing capital waste in oil field operations. Onshore operations are expected to dominate the market, covering regions like Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and the Rest of Middle East.
In terms of application, well logging is forecasted to grow due to increased drilling for shale gas and crude oil exploration. Well intervention is expected to expand with aging oil wells needing efficiency enhancements, while well completion is poised for growth driven by the demand for real-time data monitoring.
Major market players in the Middle East Wireline Service Market are: –
- Schlumberger Limited
- Halliburton Company
- Baker Hughes Company
- Expro Group
- Weatherford International PLC
- OilServ FZCO
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“Oil and gas companies are expected to boost market share by investing in digital technologies for enhanced productivity. Factors like increased investments, gas infrastructure development, and expanding desalination capacity will drive market growth. Analytical advancements in the O&G sector, coupled with a focus on reservoirs and production optimization, will further propel expansion,” stated Mr. Karan Chechi, Research Director at TechSci Research.
The Middle East Wireline Service Market report evaluates its future growth potential from 2018 to 2028, providing insights on market size, structure, and future prospects. It aims to offer cutting-edge market intelligence to aid investment decisions, while also identifying emerging trends, drivers, challenges, and opportunities in the sector.
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