Known reserves in South and Central America make up for over 20 percent of the global underground reserves. Venezuela possesses 85 per cent of the region's crude reserves, and Latin America has the second largest oil reserves in the world after the Middle East. Brazil has the second largest reserves with 15.6 billion barrels as of 2013. The market for Wireline logging services in South America was worth 2.32 billion USD as of 2013. Companies like Schlumberger, Weatherford International ltd and Baker Hughes are employing techniques like Wireline logging and Perforating using electronic tools and computerized surface systems at the wellsite to analyze and record geophysical formations.
Generally every oil well drilling starts when it is uncased. And the surface casing will be installed once a short distance is drilled, to protect the softer surface formations without caving. Number of casings installed will depend upon the total depth of the well and type of rock formation. After reaching the total depth, a log will be run to determine whether the well is economical to produce and also to determine the exact depth of the well.
There are two types logging operations performed in a well:
Open-Hole Logging
Cased-Hole Logging
Open-Hole logging generally refers to logging operations that are performed on a well before the wellbore has been ceased and cemented. On the other hand, cased-hole logging involves retrieving logging measurements through the well casing, or the metal piping that is inserted into the well during completion operations.
Increasing energy demand, increasing exploration activity in deeper waters, shale boom and rise global well intervention demand are the major drivers for Wireline logging services market. On the flip side, lack of skilled labor and need for initial technical equipment are some of the factors restraining the market.
What the Report Offers
· Market Definition for the South and Central America Wireline logging services along with identification of key drivers and restraints for the market.
· Market analysis for the South and Central America Wireline logging services market, with country specific assessments and competition analysis on the country scale.
· Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on the country scale.
· Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
· Identification and analysis of the Macro and Micro factors that affect the South and Central America Wireline logging services market on country basis.
· A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Reasons for Buying this Report
For gaining an exhaustive understanding of the South and Central America market for Wireline logging services. Would be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
An ideal opportunity for industry consultants, Wireline manufacturers and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered
Wide-ranging information provided about the leading market players and the major strategies adopted by them.
