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Showing posts with the label Drilling Fluids Market

Drilling Fluids Market Trends, Outlook, Overview and 2025 Forecast

Increasing upstream spending to sustain oil production targets is anticipated to drive oil & gas industry drilling activities over the forecast period. Technological advancements to modify the fluid rheology for efficient extraction in different formations have created lucrative avenues for industry participants. The Global Drilling Fluids Market is expected to reach USD 10.01 billion by 2025, according to a new report by Grand View Research, Inc. Increased maintenance costs and environmental risks associated with offshore locations, have urged companies to deploy drill mud for cost-efficient E&P activities. Growing demand for increasing production rates, efficiency and mitigating gas related capital expenditures is expected to drive drilling fluids demand in offshore activity, over the long term. Growing number of ongoing projects in the Middle East and Africa including, Maydan Mahzam and Bul Hanine fields are projected to drive product demand over the next nine years