Nigeria Wireline Service Market to 2027 - Country Analysis and Forecasts by Wireline Type (Slickline, and Electric Line); Application (Onshore, and Offshore); Service Type (Wireline Logging, Pipe Recovery Service, Perforation Service, Production Logging, and Others)
Publication Month: Mar 2020 | Report Code: TIPRE00009679 | No. of Pages: 118 | Category: Energy and Power | Status: Published
The wireline service market was valued at US$ 104.8 million in 2019 and is expected to grow at a CAGR of 5.3% from 2020 to 2027 to reach US$ 157.20 million by 2027.
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 wireline service market in the forecast period.
Lucrative Nigerian Wireline Service Market
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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 Type Insights
Wireline service market by wireline type is segmented as slickline and electric line. Wireline is one of the approaches of deploying numerous down-hole tools into the wells. A cable on a reel on the surface is utilized to lower the tools to the wellbore. Wireline facilitates many downhole operations to be conducted cost effectively and efficiently under live well conditions. Further, improvements in production processes, maintenance and the increase in diameters has guaranteed augmented reliability and performance despite expanding well depths, pressures and temperatures in which the wireline has to operate under. Slickline type is expected to witness significant earnings in the coming years owing to its capability to provide cost savings coupled with the provision of a greater degree of control and safer operations.
Nigeria Wireline service Market, by Application – 2018 & 2027
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Application Insights
The wireline service market on the basis of application is segmented as onshore and offshore. The amount of recoverable oil and natural gas across the globe is constantly expanding by adopting advanced drilling techniques in these two locations. With significant improvements and technology advancements in fracking continuing to influence the oil & gas industry, the onshore and offshore drilling activities have turned various locations around the world to become profitable by attracting numerous oil & gas operators to invest and conduct operations. The on-shore segment captured dominating share in the Nigeria wireline service market.
Service Type Insights
Based on service type, the Nigeria wireline service market is segmented into wireline logging, pipe recovery service, perforation service, production logging, and others. Owing to the large-scale application of wireline services products in the oil and gas industry, a large number of market players of Nigeria are focusing on the expansion of the production capacity. These investments in wireline services aim at the exploration of new wells, upgradation of existing wells, and development in new markets geographically.
Strategic Insights
Market initiative is a strategy basically adopted by the companies to expand their footprint across the world and meet the growing demand of their customers. The market players present in Nigeria wireline service market are mainly focusing towards development of advanced and efficient products. By signing partnership, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company maintain its brand name.
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
Company Profiles
- 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.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Wireline Service Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Nigeria – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Wireline Service Market – Market Dynamics
5.1 Market Drivers
5.1.1 Significant Investments in Development of Oil & Gas Pipeline Infrastructure in Nigeria
5.1.2 Discoveries of New Oil & Gas Reserves
5.2 Market Restraints
5.2.1 Legal Hurdles Resulting in Delay of Oil & Gas Projects
5.3 Market Opportunities
5.3.1 Government Initiatives for Commercialization of Oil & Gas Sector in Nigeria
5.4 Future Trends
5.4.1 Demand for High-End Wireline Service
5.1 Impact Analysis of Drivers and restraints
6. Wireline Service – Nigeria Market Analysis
6.1 Nigeria Wireline Service Market Overview
6.2 Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
7. Nigeria Wireline Service Market Analysis – By Wireline Type
7.1 Overview
7.2 Nigeria Wireline Service Market, By Wireline Type (2019 and 2027)
7.3 Slickline
7.3.1 Overview
7.3.2 Slickline: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Electric Line
7.4.1 Overview
7.4.2 Electric Line: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
8. Nigeria Wireline Service Market Analysis – By Application
8.1 Overview
8.2 Nigeria Wireline Service Market, By Application (2019 and 2027)
8.3 On-shore
8.3.1 Overview
8.3.2 On-shore: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Off-shore
8.4.1 Overview
8.4.2 Off-shore: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9. Wireline Service Market Analysis – By Service Type
9.1 Overview
9.2 Wireline Service Market, By Service Type (2019 and 2027)
9.3 Wireline Logging
9.3.1 Overview
9.3.2 Wireline Logging: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.3 Case Hole
9.3.3.1 Overview
9.3.3.2 Case Hole: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.3.4 Open Hole
9.3.4.1 Overview
9.3.4.2 Open Hole: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Pipe Recovery Service
9.4.1 Overview
9.4.2 Pipe Recovery Service: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Perforation Service
9.5.1 Overview
9.5.2 Perforation Service: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.6 Production Logging
9.6.1 Overview
9.6.2 Production Logging: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
9.7 Others
9.7.1 Overview
9.7.2 Others: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 Merger & Acquisition
10.4 New Development
11. Company Profiles
11.1 Halliburton Energy Services, Inc.
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 NexTier Oilfield Services, Inc.
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 MB Petroleum Services LLC
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Weatherford International plc
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Geoplex
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Wireline Engineering Limited
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Baker Hughes Company
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Schlumberger Limited
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 SGS SA
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Superior Energy Services, Inc.
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. List of Abbreviation
LIST OF FIGURES
Figure 1. Wireline Service Market Segmentation
Figure 2. Wireline Service Market Segmentation – By Geography
Figure 3. Wireline Service Market Overview
Figure 4. Nigeria Wireline Service Market – by Wireline Type
Figure 5. Nigeria Wireline Service Market – by Application
Figure 6. Nigeria Wireline Service Market – by Service Type
Figure 7. Nigeria – PEST Analysis
Figure 8. Wireline Service Market – Ecosystem Analysis
Figure 9. Expert Opinion
Figure 1. Wireline Service Market Impact Analysis of Drivers and Restraints
Figure 2. Nigeria: Wireline Service Market – Revenue and Forecast to 2027 (US$ Million)
Figure 3. Nigeria Wireline Service Market Revenue Share, by Wireline Type (2019 and 2027)
Figure 4. Slickline: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 5. Electric Line: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 6. Nigeria Wireline Service Market Revenue Share, by Application (2019 and 2027)
Figure 7. On-shore: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 8. Off-shore: Nigeria Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 9. Wireline Service Market Revenue Share, by Service Type (2019 and 2027)
Figure 10. Wireline Logging: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 11. Case Hole: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 12. Open Hole: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Pipe Recovery Service: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Perforation Service: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Production Logging: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Others: Wireline Service Market – Revenue, and Forecast to 2027 (US$ Million)
The List of Companies - Nigeria Wireline Service Market
- 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.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Nigeria Wirleine Services market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Nigeria Wirleine Services market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution