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(MoneyNewsWire.Net, August 22, 2018 ) Support activities for oil and gas operations industry comprise establishments which provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling and extraction.
This market comprises companies carrying out activities such as excavating slush pits and cellars, well surveying, running, cutting, pulling casings, tubes, and rods. It also includes cementing wells, shooting wells, perforating well casings, and cleaning out, bailing, and swabbing wells.
This market does not include site preparation and related construction
activities, geophysical surveying and mapping.
Other support activities include acidizing oil and gas field wells, chemically treating oil and gas wells, gas well rig building, core drilling, logging wells,
and servicing wells on a contract basis.
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The global oil and gas supporting activities market has shown a decline in the past years with a CAGR of over -11.1%. The year 2017 also recorded a decline in this market with a net value of $190 billion as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global oil and gas supporting activities market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Oil and gas wells service providers are using microbial treatment as a sustainable and cost effective replacement to conventional treatment methods such as chemical, mechanical and thermal methods to discard paraffin deposits. Microbial treatment refer to the use of naturally occurring microorganisms to remove paraffin deposits, break emulsions, and inhibit corrosion and scale formation. Paraffin is a waxy substance which deposits in oil and gas production systems and restricts the flow of fluids, and thus needs to be prevented. This treatment procedure is non-toxic, cost effective and saves time compared to conventional methods. Microbial treatment can result in high paraffin degradation rate of up to 64%.
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TBRC’s latest report covers in depth understanding and calculated impacts of each market factor on a global as well as regional level, to analyze the best investment strategy for this market.
Companies included in the report are Halliburton, Saipem S.p.A, Schlumberger Ltd., Baker Hughes Incorporated, and Weatherford International plc.
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