Logging While Drilling (LWD) Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The global Logging While Drilling (LWD) Market size is projected to reach a CAGR of 7.6% to Forecast 2030.
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The prominent players in the Logging While Drilling (LWD) Market are
· Halliburton Company
· Baker Hughes Company
· Schlumberger Limited
· Weatherford International Ltd.
· Vallourec SA
· National Oilwell Varco Inc
· Scientific Drilling International, Inc
· China Oilfield Services Ltd. and More
Delvens Industry Expert's Standpoint
The demand for logging while drilling (LWD) has been hindered due to the fluctuating oil prices caused by the supply-demand gap and geopolitical tensions, among other factors. However, the South American region is expected to experience the highest growth rate during the forecast period due to the rising oil and gas activities in the region.
Moreover, the discovery of new oil and gas reserves and the liberalization of the industry worldwide have opened up new investment opportunities for players in the market. Riding on the optimism associated with the recovery of crude oil prices, onshore projects are expected to record significant growth over the forecast period, in turn, driving the demand for the logging while drilling (LWD) market.
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Recent Developments
October 31, 2019 - Weatherford International plc announced it has signed two contracts totaling $67.4 million for drilling services with two major operators in Russia. The first contract spans two-and-a-half years. Operations began in July 2019 and will last through the end of 2022. The second contract is a three-year drilling services contract. Operations will begin in early 2020 with Weatherford providing LWD, MWD, RSS, geo steering, and geo-data interpretation services at the Novyi Port oilfield on the Yamal Peninsula.
July 17, 2019 - Halliburton Co. has introduced 3D reservoir mapping, a logging-while-drilling (LWD) capability that is said to provide a detailed representation of subsurface structures to improve well placement in complex reservoirs.
Logging While Drilling (LWD) Market is segmented into various segments such as the location of deployment and region:
On the basis of the location of deployment
· Onshore
· Offshore
On the basis of Type
· Electromagnetic logging
· Acoustic logging
· Nuclear magnetic resonance (NMR) logging
· Nuclear logging
On the basis of region
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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