BURNABY, Canada, August 4, 2015 /PRNewswire/ --
Increase in oil and gas exploration and production activities
to drive Saudi Arabia oilfield
chemicals market over the next five years
According to recently published TechSci Research report,
"Saudi Arabia Oilfield Chemicals Market Forecast &
Opportunities, 2020", the oilfield chemicals market in
Saudi Arabia is projected to
surpass USD960 million by 2020.
Oilfield chemicals are used across all stages of oil and gas
production, from drilling to transportation of oil and gas, with
the prime objective of enhancing process efficiency. Growth in
oilfield chemicals market in Saudi
Arabia is expected on account of rising oil and gas
production, along with anticipated increase in the exploration of
shale gas deposits in the country.
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Growth in the demand for natural gas in the domestic market is
driving natural gas production in Saudi
Arabia. Further, the decline in crude oil prices has also
increased focus towards the production of natural gas in the
country. Growth in non-associated gas production from offshore
fields, in addition to exploration of shale gas deposits in eastern
provinces of Saudi Arabia, is
offering lucrative opportunities for oilfield chemicals
manufacturers. The country's increasing focus to become a net
exporter of natural gas instead of a net importer is expected to
boost the oilfield chemicals market in Saudi Arabia in the coming years.
"Saudi Arabia is home to 100
major oil and gas fields, of which 8 oilfields produce more than
50% of crude oil every year. Most of these large-capacity oilfields
lie in the eastern province of the country, due to which the
eastern province continues to dominate the oilfield chemicals
market in terms of revenue contribution. Saudi Arabia oilfield chemicals market is
highly consolidated with major players like Baker Hughes, Nalco
Champion and REDA Oilfield, collectively accounting for more than
two-thirds of the market revenues in 2014.", said Mr. Karan Chechi, Research Director, with TechSci
Research, a research based global management consulting firm.
"Saudi Arabia Oilfield Chemicals Market
Forecast & Opportunities, 2020" has analyzed the
future growth potential of oilfield chemicals market in
Saudi Arabia, and provides
statistics and information on market size, share and trends. The
report is intended to provide cutting-edge market intelligence and
help decision makers take sound investment evaluation. Besides, the
report also identifies and analyzes the emerging trends along with
major drivers, challenges and opportunities in Saudi Arabia oilfield chemicals market.
About TechSci Research
TechSci Research is a global market research and consulting
company with offices in Canada, UK
and India. TechSci Research
provides market research consulting services in six verticals -
Information Technology, Chemicals, Water & Water Recycling,
Consumer Goods & Retail, Automotive and Energy & Power. The
company uses proprietary innovative business model that focuses on
improved productivity that also ensure the creation of high-quality
reports. With more than 100 client engagements with fortune 500
clients, TechSci Research enjoys the status of a premium market
research services provider in the industry.
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