middle east and africa coiled tubing market

MORDOR INTELLIGENCE

Middle East and Africa Coiled Tubing Sample Market (2014 2020)

Mordor Intelligence | +1 781-300-3838 | No.30 Padma Nilaya, RT Nagar, Bengaluru, India 560032 | [email protected]

Middle East and Africa Colied Tubing Market | Sample Mordor Intelligence

TABLE OF CONTENTS

1. Introduction

1.1 Report Guidance

1.2 Markets Covered

1.3 Key Points Noted

2. Executive Summary

3. Market Overview

3.1 Introduction

3.2 Market Definition

3.3 Premium Insights

3.4 Coiled Tubing Technologies

4. Drivers, Constraints and Opportunities

4.1 Drivers

4.1.1 Exploration from Ageing Reservoirs

4.1.2 Decreasing Production Levels

4.1.3 Increasing Exploration Activities

4.2 Constraints

4.2.1 Equipment Costs


4.2.2 Lack of Skilled Labour

4.3 Opportunities

4.3.1 Increasing Subsea Drilling

5. Middle East and Africa Coiled Tubing Market Analysis, by Country

5.1 Overview

5.2 Major Countries

5.2.1 Algeria

5.2.1.1 Introduction

5.2.1.2 Market Demand to 2020

5.2.1.3 Recent Trends and Opportunities

5.2.2 Saudi Arabia




5.2.3 Nigeria




5.2.3.4 Others

5.2.4 Kuwait





5.2.5 Others

6. Middle East and Africa Coiled Tubing Market Analysis, by Service Type

6.1 Introduction

6.2 Well Intervention

6.3 Drilling

6.4 Others

7. Competition

7.1 Overview

7.2 Market Share of Key Companies, by Geography

7.3 Market Share of Key Companies, by Equipment

8. Company Profiles

8.1 Baker Hughes Inc.

8.2 Halliburton Company

8.3 Schlumberger Limited

8.4 Weatherford International Ltd

8.5 Aker Solutions Asa

8.6 Archer The Well Company


8.7 Calfrac Well Services LTD

8.8 Nabors Industries LTD

8.9 Superior Energy Services INC.

8.10 Trican Well Service LTD

9. Competitive Landscape

9.1 Deal Summary

9.1.1 Acquisition

9.1.2 Private Equity

9.1.3 Equity Offerings

9.1.4 Debt Offerings

9.1.5 Partnerships

9.1.6 Asset Transactions

9.2 Recent Developments

9.2.1 New Technology Inventions

9.2.2 New Contract Announcements

10. Appendix

10.1 Sources

10.2 Abbreviations

10.3 Market Definition

10.3.1 Methodology


10.3.2 Coverage

10.3.3 Secondary Research

10.3.4 Primary Research

10.3.5 Expert Panel Validation

10.4 Contact Us

10.5 Disclaimer


4. DRIVERS, CONSTRAINTS AND OPPORTUNITIES

4.1 DRIVERS

4.1.1 EXPLORATION FROM AGEING RESERVOIRS

Currently, a large number of facilities and parts of the infrastructure of both offshore and onshore oil

and gas reservoirs worldwide are approaching or have exceeded their original design life. The

petroleum fields are still producing substantial levels of hydrocarbons which are recoverable and

profitable if the field lifetime is extended. Thus, most of the reservoirs are being considered for use

beyond their planned design life.

The ageing infrastructure of offshore and onshore installations presents the industry with a constant

and growing challenge. There is the cumulative degradation of facilities and equipment over time

resulting from corrosion, wear or fatigue, as well as scenarios where like-for-like replacements are no

longer suitable due to either obsolescence or changes in engineering standards.

There can also be a change in production condition, modification, or introduction of new equipment.

At the same time, the operator needs to be sure that making the necessary investment is worthwhile

in respect of the additional production they are ultimately going to realize.

However, focusing on safety considerations, the condition of systems, structures or components may

not be acceptable for extended operation. They need to be constructed/implemented freshly to

support the life extension operations of any oil and gas well. Many offshore oil and gas installations

currently operating are in the life extension stage, as they have passed their original designed life time.

There will be a time when installed facility has to be closed down permanently as per the original

design life. So there is a decent market opportunity exists for construction services market across the

world. Flat oil prices, decreasing reserves, increasing energy demand are encouraging oil and gas

companies to invest more in exploration and production activities thereby increasing the demand for

coiled tubing equipment and services globally.


5. MIDDLE EAST AND AFRICA COILED TUBING MARKET ANALYSIS, BY

COUNTRY

5.2.4 KUWAIT

5.2.4.1 INTRODUCTION

Kuwait was one of the world's top producers and net exporters of petroleum. The oil reserves in Kuwait

have increased from 99.5 thousand million barrels in 2003 to 101.5 thousand million barrels in 2013.

The production has increased from 2370 in 2003 to 3126 thousand barrels per day in 2013. Kuwait

currently accounts for nearly 3.7% of the global oil production.

The growth in the number of wells is driving the market ahead with the increasing demand for coiled

tubing services. The number of wells has increased from 761 in 1980 to 1794 in 2013.

2000

2200

2400

2600

2800

3000

3200

3400

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

1000

Milli

on B

arre

ls Da

ily

Kuwait Oil Production


5.2.4.2 MARKET DEMAND TO 2020

Kuwait Coiled Tubing Market, 2014-2020 ($Million)

2014 2015 2016 2017 2018 2019 2020 CAGR (%)

Well Intervention xx xx xx xx xx xx xx xx

Drilling Services xx xx xx xx xx xx xx xx

Others xx xx xx xx xx xx xx xx

Total xx xx xx xx xx xx xx xx

0200400600800

100012001400160018002000

1980 1984 1988 1992 1996 2000 2004 2008 2012

Total Producing Wells, Kuwait


8. COMPANY PROFILES

8.2 HALLIBURTON:

Halliburton Company is an American multi-national corporation, and one of the worlds largest oil field

services company. The company has operations in more than 80 countries, and is head quartered in

Houston and in Dubai. Halliburtons major business is Energy Services Group (ESG). ESG provides

technical products and services for petroleum and natural gas exploration and production.

Business Description:

The company operates in two segments, Completion and Production, and Drilling and Evaluation. The

Completion and Production segment offers production enhancement services, including stimulation

services and sand control services; and cementing services comprising bonding the well and well

casing, and casing equipment. It also offers completion tools that provide downhole solutions and

services, including well completion products and services, intelligent well completions, liner hanger

systems, sand control systems, and service tools. This segment also provides well intervention

services, pressure control, equipment rental tools and services, and pipeline and process services; and

oilfield production and completion chemicals and services that address production, processing, and

transportation operations.

The Drilling and Evaluation segment offers drill bits and services, including roller cone rock bits, fixed

cutter bits, hole enlargement, and related downhole tools and services, as well as coring equipment

and services; wireline and perforating services, such as open-hole logging, cased-hole and slickline,

borehole seismic, and formation and reservoir solutions; and testing and subsea services comprising

acquisition and analysis of reservoir information and optimization solutions. This segment also

provides drilling fluid systems, performance additives, completion fluids, solids control, specialized

testing equipment, and waste management services; drilling systems and services; integrated

exploration, drilling, and production software, as well as related professional and data management

services; and oilfield project management and integrated solutions.


Key Financials:

Consolidated revenue in 2013 increased 3% compared to 2012, primarily driven by activity growth

across all international regions. This was partially offset by lower activity levels and pricing pressure

in the United States land market. Revenue outside of North America was 48% of consolidated revenue

in 2013 and 44% of consolidated revenue in 2012.

The $1.0 billion decrease in consolidated operating income compared to 2012 was primarily related

to Macondo related charges. Operating income in 2013 was impacted by the following pre-tax items:

a $1.0 billion Macondo-related loss contingency, $92 million of restructuring charges related to

severance and asset write-offs, and a $55 million charge related to a charitable contribution to the

National Fish and Wildlife Foundation, partially offset by a $28 million value-added tax refund

receivable in Brazil. Operating income in 2012 was impacted by the following pre-tax items: a $300

million Macondo-related loss contingency, along with a $48 million charge related to an earn-out

adjustment due to significantly better than expected performance of a past acquisition, partially offset

by a $20 million gain related to the settlement of a patent infringement lawsuit.

Completion and Production operating income decreased 9% compared to 2012, primarily due to the

North America region, where operating income fell 15% due to pricing pressures in the United States

hydraulic fracturing market and lower activity in Canada. Latin America operating income was up 2%

as a result of higher demand for cementing services in Mexico and Venezuela and production

enhancement services in Argentina. Europe/Africa/CIS operating income grew 3% compared to 2012,

driven by higher completion tools activity in Angola and cementing activity in Norway. Middle

East/Asia operating income increased 18% due to higher activity levels in Saudi Arabia and Iraq, higher

direct sales in China, and improved profitability in Indonesia.

Drilling and Evaluation revenue increased 7% compared to 2012, driven by strong results in the Eastern

Hemisphere. North America revenue was essentially flat, as lower demand for drilling and wireline

services was partially offset by fluids activity across the United States land market and higher activity

in the Gulf of Mexico. Latin America revenue was also relatively flat, as higher demand for all product

lines in Mexico and fluids throughout the region were partially offset by lower drilling services activity

in Colombia and wireline activity in Brazil. Europe/Africa/CIS revenue increased 18% due to improved


fluids activity in Norway and Angola and higher drilling services activity in Eurasia, Norway, Egypt, and

Angola. Middle East/Asia revenue rose 14% primarily due to strong demand in Saudi Arabia and

Indonesia, higher drilling activity throughout the region, and higher wireline activity in Asia Pacific.

Revenue outside of North America was 68% of total segment revenue in 2013 and 65% of total

segment revenue in 2012.

Table: Halliburton Financial Performance by Region

Completion and Production Revenue by Region

2013 2012

Total 17,506 17,380

North America 11,417 12,157

Latin America 1,586 1,415

Europe/Africa/CIS 2,391 2,099

Middle East/Asia 2,112 1,709

Drilling and Evaluation Revenue by Region

Total 11,896 11,123


Latin America 2,323 2,279

Europe/Africa/CIS 2,834 2,411

Middle East/Asia 2,944 2,586


Table: Halliburton Operating Income by Region

Completion and Production Operating Income by Region

2013 2012

Total 2,875 3,144


Latin America 211 206

Europe/Africa/CIS 356 347

Middle East/Asia 392 331

Drilling and Evaluation Operating Income by Region

2013 2012

Total 1,770 1,675

North America 656 680

Latin America 307 393

Europe/Africa/CIS 334 346

Middle East/Asia 473 356


Table: Halliburton Total Revenue

Revenue by Segment 2013 2012

Completion and Production 17,506 17,380

Drilling and Evaluation 11,896 11,123

Total Revenue 29,402 28,503

Figure: Halliburton Revenue Share by Region

Products & services:

Services

Drilling

Looking to reduce overall well construction costs, delivering drilling

performance to improve wellbore quality and add value to overall well

construction.

52

13

18

17

Halliburton Revenue Share by Region (%)

North America

Latin America

Europe/Africa/CIS

Middle East/Asia


High pressure/temperature

HP/HT technologies that increase efficiency, recovery, safety and

reliability. Facilities are equipped with the greatest number of test

wells.

Well-intervention

Enhanced Quik Rig Coiled Tubing System where larger-capacity reel

trailer, higher-capacity injector rated up to 125,000 lb, and an

auxiliary mast unit with well-control equipment and power pack, with

a new dedicated 60T/80T/125T boom truck crane. Large-capacity

well-control stack (up to 5 1/8-inch 15K) and its ability to contain a

full milling bottom hole assembly (BHA) in its riser stack. Drill Out

Solutions Package are used to increase their completion efficiency

while reducing costs.


10. APPENDIX

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middle east and africa coiled tubing market

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