Market Size of Middle East Wireline Logging Services Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Middle East Wireline Logging Services Market Analysis
The Middle East wireline logging services market is projected to register a CAGR of over 2% during the forecast period.
COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.
- Over the medium term, factors such as increased discoveries and increased investment in the offshore sector are expected to drive the market for wireline logging services.
- On the other hand, the volatile nature of oil prices in recent years led to decreased exploration activity, causing a slowdown in the middle-east wireline logging services market.
- Nevertheless, the increasing exploration activity in the region to compensate for aging mature oil and gas fields is expected to offer significant opportunities for the wireline logging services market in the region.
- Due to the increased exploration activity in the country, Saudi Arabia is expected to dominate the market to compensate for declining fields elsewhere. Oil and gas drilling activity in Saudi Arabia is anticipated to grow because of the government policy to drive oil and gas production in the country.
