How COVID-19 Impact on Global Nigeria Wireline Service Market and How It's Adversely Affecting the World Economy
The Business Market Insights subscription helps clients understand the ongoing market trends, identify opportunities, and make informed decisions through the reports in the Subscription Platform. The Industry reports available in the subscription provide an in-depth analysis on various market topics and enable clients to line up remunerative opportunities. The reports provide the market size & forecast, drivers, challenges, trends, and more.
Wireline services usually refer to cabling technologies used for well-intervention in the oil and gas industry, well monitoring operations providing petro-physical data that are further helpful in managing process parameters. The tools inserted into logging, pipe recovery, and completion. These services require less labor and are very similar devices that consume less time for both wirelines and slicklines, work-over, and logging efforts. The wireline services applications include Wireline Interference, Wireline Monitoring, Wireline Completion, Recovery, and more. The wireline service market is driven by factors such as significant investments in development of oil & gas pipeline infrastructure in Nigeria and discoveries of new oil & gas reserves, but legal hurdles resulting in delay of oil & gas projects is anticipated to restrain the wireline service market growth during the forecast period. Despite of this, government initiatives for commercialization of oil & gas sector in Nigeria is anticipated to boost the in the forecast period.
Register for a free trial today and gain instant access to our market research reports at: https://bit.ly/2LdbNsY
Nigeria Wireline Service Market - Companies Mentioned: Halliburton Energy Services, Inc.,NexTier Oilfield Services, Inc.,MB Petroleum Services LLC,Weatherford International plc,Geoplex,Wireline Engineering Limited,Baker Hughes Company,Schlumberger Limited,SGS SA,Superior Energy Services, Inc.
Market Insights
Discoveries of New Oil & Gas Reserves
The country is witnessing discoveries of new oil & gas. For instance, in 2019, the government discovered one billion of crude oil in the North-East part of Nigeria. Also, in September 2019, Nigerian-based Oando PLC discovered new gas reserves that amount to ~1 trillion cubic feet of gas as well as 60 million barrels of related condensate. Moreover, in 2018, Shell discovered ~1.5 trillion cubic feet of gas as well as 50 million barrels of associate condensate in Eastern Nigeria. Moreover, in 2019, Eni, an Italian-based Energy company, discovered gas and condensate find onshore Niger Delta. Such discoveries signify the untapped opportunity that can be offered in the near future, which will provide a boost to the wireline service market in the coming years.
Impact of COVID-19 Pandemic on the Nigeria Wireline Service Market
Covid-19 was first recognized in the China, where it led to an economic slowdown for the world’s largest energy consumer. This pandemic has forced numerous companies to halt or slowdown their physical operations, thus impacting production in the upstream sector. On the other hand, the downstream operations are focusing to upgrade their systems and pushing to work in a more flexible manner. Further, the coronavirus crisis is adding to the uncertainties which are faced by the oil industry, as it is forcing the companies to concentrate on new investments and business strategies. However, the impact of this pandemic on oil and gas industry is expected to be temporary. Thus, all these factors further expected to reduce the demand for wireline services, thereby impacting the growth of wireline service market in the current scenario.
Wireline service Market – By Wireline Type
- Slickline
- Electric Line
Wireline service Market – By Application
- On-shore
- Off-shore
Wireline service Market – By Service Type
- Wireline Logging
- Pipe Recovery Service
- Perforation Service
- Production Logging
- Others
About Business Market Insights
Based in New York, Business Market Insights is a one-stop destination for in-depth market research reports from various industries including Technology, Media & Telecommunications, Semiconductor & Electronics, Aerospace & Defense, Automotive & Transportation, Biotechnology, Healthcare IT, Manufacturing & Construction, Medical Device, and Chemicals & Materials. The clients include corporate and academic professionals, consulting, research firms, PEVC firms, and professional services firms.
For Subscription contact
Business Market Insights
Phone : +442081254005
E-Mail : [email protected]