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The demand for water management services in the oil & gas industry is experiencing substantial growth and will continue to grow in the coming years. The productivity of oil wells has significantly decreased in the past few years. This has changed the process of exploring oil & gas, giving rise to processes such as horizontal drilling and hydraulic fracture. These processes require extensive amount of water, thus being the key driver in the growth of water management services for oil & gas market. Water is an essential component in exploration and production operations in the oil & gas industry. This has resulted in a rapid increase in the demand for efficient water management services in oil & gas exploration and production sector. The increasing number of oil wells across the globe further increase the demand for water management service in the oil & gas sector. The key players of the industry are focussing on development of new water management systems for oil & gas industry as a strategy to diversify their product portfolio.
Description
Water management services for oil & gas industry are the systems that deal with supply and of water to all processes involved in oil & gas exploration and production operations. Water management service providers help exploring and refining companies by locating a source of water in the vicinity of oil or gas exploration sites, transportation and usage of water throughout the production operations and the treatment and disposal of used contaminated water. Water is a vital component of unconventional exploration and production process; thus, ensuring the rapid growth of water management service for the oil & gas market throughout the forecast period.
COVID-19 impact analysis
Top Impacting Factors
The exponentially increasing population and industrialization has drastically increased the requirement of oil and gasoline which has rapidly increased the number of oil rigs and refineries over the past few years. The decreasing productivity from conventional oil and gas exploration methods and the rise of unconventional exploration methods such as horizontal drilling and hydraulic fracture which require extensive use of water are the major driver in the growth of water management services for oil and gas industry. Water is extensively required for of the cooling the drilling equipment, removal of broken rock and mud and in for hydraulic fracturing of rock. The requirement of water for exploration and production (E&P) process depends on the properties of the oil and gas fields, for instance, a hydraulic fracturing process for conventional E&P requires around 25,000 barrels of water while hydraulic fracturing for unconventional E&P may require as much as 2,50,000 barrels of water throughout the process. This further highlights the demand for an efficient water management system. The environmental impact by the use of fossil fuels is a major restraint in the growth of water management services for oil and gas market. The accessibility to previously inaccessibly oil and gas field ensure substantial growth of water management services for oil and gas market throughout the forecast period.
Market Trends
Key Benefits of the Report
Water Management Services for Oil and Gas Market Report Highlights
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By Location |
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By Application |
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By End User Industry |
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Key Market Players | Halliburton Company, Granite Construction Inc., Baker Hughes Company, Severn Trent Services, Aquatech International LLC., Veolia, Ecolab, WSP, Bain & Company, Inc., Schlumberger Limited |
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