Offshore wells have been known to be expensive due to the complexity and engineering required to treat and recover the petroleum & hydrocarbon that results from the wells. On the other hand, onshore wells tend to be more affordable due to the reduced set-up costs and shorter construction times as compared to offshore wells. Both off and onshore wells require different types of well completion equipment and services. For onshore wells, there are onsite well completion equipment and services such as well pads, well drilling equipment, well cleaning, and well treatment equipment and services.
Furthermore, onsite well completion equipment and services include well testing & drilling, well boring, well surveys, well stimulation, well head surveys, gas exploration & stimulation, well drilling and well boring, and well site preparation. Offshore gas exploration & stimulation involve ocean floor material, gas deposits, rock strata, and other parameters. Gas exploration & stimulation are essential to help discover new oil and gas reserves on the ocean floor and to tap into the regional or worldwide supply. A number of drilling rigs are operating globally in this market.
Well drilling rigs are expensive and they increase the cost of extraction considerably, which consequently reduces the profitability of the oil and gas industry. This is why new techniques and technologies are required to locate these critical areas, which include geotechnical surveys, computer modeling and analysis, and simulation of geo-mechanical models and geo-information. With the help of well completions equipment and services, operators in the Middle East and Asia Pacific region can gather key data that will be used for Geotech modeling and analysis and then provide the required solutions and recommendations to the companies involved. Recently, in April 2021, Halliburton Company launched Ovidius expanding isolation system, an engineered metal alloy into a rock-like material to improve well integrity.
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