Report Code: A14525 | Pages: NA | Mar 2023 | 1240 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Zonal Isolation Market
Request Now !Zonal isolation facilitates the prevention of mixing the fluids such as water or gas in one zone with oil in another zone. This is attained by the means of formation of a hydraulic barrier between the casing, cement and formation. Zonal isolation despite not being a part of the production process, is an important part of oil & gas E&P operations as it assists in the prevention of corrosion of casings, sealing off zones, stage cementing, stimulation, and numerous other applications. This makes the process more efficient and is an important factor of oil & gas extraction from the economical point of view.
COVID-19 Impact analysis
The zonal isolation market was negatively impacted by the pandemic as the sharp decrease in demand was seen due to travel restrictions owing to lockdown and halt at industrial operations took place amid the COVID-19 pandemic. The demand for oil & gas, which are the major drivers of the zonal isolation market took a hit and it reflected back to the zonal isolation market as well. The halts in production or production cuts in the oil & gas industry due to decline in industrial as well as domestic fuel has made a dent on the zonal isolation market. A shift in paradigm in business and operational models has been encountered due to the pandemic where the industries are dealing with the supply chain disruptions and restrictions on cross-border transportations and trade. The financial impact on firms and financial markets by the means of stock market volatility due to uncertainties in the market. This also affected the financial health of many organizations which also led to hindrances in the new exploration & production ventures. However, the demand for oil & gas is estimated to increase once the lockdown has been lifted and the trade has been resumed.
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Zonal Isolation Market Report Highlights
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Key Market Players | Archer, Baker Hughes, C&J Energy Services, Inc., Expro International Group Holdings, FMC Technologies, Halliburton Company, Nabors Industries Ltd, Oilsery, Schlumberger Limited, Superior Energy Services, TAM International, Inc, Tendeka, Weatherford International. |
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