The global Logging While Drilling (LWD) Market size is projected to reach a CAGR of 7.6% from 2023-2030.
Logging While Drilling (LWD) is a system that is applied in oil fields. LWD system is used to get real-time data during the drilling of the oil wells. LWD tools are used to determine the physical properties of the bore well, such as porosity, conductivity, density, saturation, and others. Measurements by the LWD system provide accurate information about the geological formation while drilling. The real-time data regarding the physical properties of the well enables the operator to determine the rate of the penetration of the drilling machine, optimize the process and make decisions accordingly. LWD tools help to enhance the drilling activity and to improve the overall performance of the process. LWD system can be used for onshore as well as offshore purposes.
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The rise in industrialization and urbanization all over the world is propelling the demand for energy and power activities. The surge in deep-water and unconventional energy and power activities will also help earn high logging-while-drilling market revenues. Furthermore, the accelerating demand for technical expertise for cost-competitive oil and gas production is further expected to fuel the Logging While Drilling Market growth.
Recent Developments
· October 31, 2019 - Weatherford International plc announced it has signed two contracts totaling $67.4 million for drilling services with two major operators in Russia. The first contract spans two-and-a-half years. Operations began in July 2019 and will last through the end of 2022. The second contract is a three-year drilling services contract. Operations will begin in early 2020 with Weatherford providing LWD, MWD, RSS, geo steering, and geo-data interpretation services at the Novyi Port oilfield on the Yamal Peninsula.
· July 17, 2019 - Halliburton Co. has introduced 3D reservoir mapping, a logging-while-drilling (LWD) capability that is said to provide a detailed representation of subsurface structures to improve well placement in complex reservoirs.
Top Key Players
· Halliburton Company
· Baker Hughes Company
· Schlumberger Limited
· Weatherford International Ltd.
· Vallourec SA
· National Oilwell Varco Inc
· Scientific Drilling International, Inc
· China Oilfield Services Ltd.
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North America to Dominate the Market
· North America is expected to dominate the logging while drilling (LWD) market and is expected to grow at a significant rate over the forecast period.
· Increasing oil and gas drilling and completion activities in the region are expected to increase the demand for logging while drilling (LWD) market over the forecast period in the North American region.
Logging While Drilling (LWD) Market Segmentation:
On the basis of the location of deployment
· Onshore
· Offshore
On the basis of Type
· Electromagnetic logging
· Acoustic logging
· Nuclear magnetic resonance (NMR) logging
· Nuclear logging
Based on region:
· Asia Pacific
· North America
· Europe
· South America
· Middle East & Africa
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Frequently Asked Questions
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· What is the compound annual growth rate (CAGR) of the Logging While Drilling (LWD) Market?
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· Who are the major players in the Logging While Drilling (LWD) Market?
In addition to the market data for the Logging While Drilling (LWD) Market, Delvens offers client-centric reports customized according to the company’s specific demand and requirement.
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