Brazil Wireline Logging Services Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.62 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Brazil Wireline Logging Services Market Analysis
The Brazil wireline logging services market is expected to grow at a CAGR of 2.62% during the forecast period. Factors such as increasing demand for oil and natural gas and rising investments in the upstream oil and gas sectors across the country are expected to drive the number of exploration and production activities, thereby driving the wireline logging services market during the forecast period. However, the crude oil prices have been highly volatile between 2019 and the start of 2020, fluctuating between USD 60 per barrel and USD 25 per barrel by the beginning of 2020. This volatility of oil prices remains a growing concern for the upstream industry. Hence, this is expected to hinder the growth of the market during the forecast period.
- The increasing exploration activities in the offshore region is expected to boost the demand for wireline logging services market during the forecast period.
- The increasing oil and gas discoveries, coupled with the liberalization in the industry, have been leading to the creation of new opportunities for the players to invest in the country studied market.
- Development of the deep-water and ultra-deepwater reserves is expected to drive the Brazil wireline logging services market during the forecast period.
Brazil Wireline Logging Services Market Trends
This section covers the major market trends shaping the Brazil Wireline Logging Services Market according to our research experts:
Offshore Region To Dominate The Market
- The offshore oil and gas sector had been subdued in the past few years, mainly due to the crude oil price being lower than the breakeven price of several offshore oil and gas fields. As a result, the demand in the oil and gas wireline services market was negatively impacted.
- The Brent crude oil price started showing signs of improvement after mid-2016 and remained well above USD 60 per barrel throughout 2018. This, coupled with the cost reduction program of upstream oil and gas companies, resulted in gaining the confidence of investors for final investment decisions for projects, which got canceled during the low commodity price environment.
- For instance, In Brazil, the pre-salt layer production reached over 1.5 million bpd in 2018, and it accounted for over 55% in the country's total oil production. Pre-salt oil is produced from wells drilled during the last decade, thus, providing a way to increase wireline and perforating services.
- However, in early 2020, oil prices got severely affected by the OPEC deal cancelation and excessive crude oil and gas flow in the international market. This is expected to slow down the investment in the offshore region. Thus, it is expected to have a negative impact on the growth of the market during the forecast period.
The Deepwater and Ultra-deep water Activities to Drive the Market
- The investments related to deep-water projects are expected to be limited before 2025. These resources are typically more expensive to develop, take a longer time to reach full production, and require additional investment in infrastructure, because of their presence in remote locations. However, most of the projects that are currently under development are expected to continue their operations.
- Despite high fixed costs and the requirement of long lead times from project conception to the first production, offshore deep-water oil projects provide large production volumes that can achieve relatively low per-barrel operating costs over the reservoir life cycle.
- Moreover, The two offshore projects in Brazil, namely, Libra and Itapu, are expected to receive USD 15.8 billion worth of investments, with USD 2.2 billion just in signing bonuses on the 16th Bidding Round held in October 2019, thus, providing a way to increase wireline and perforating services.
- Besides, Weatherford signed a USD 87 million deal with Brazil's national oil company, Petrobras, for providing fishing and intervention services in September 2019.
- Further, Petrobas is the leading firm in Brazil, in terms of planned production and capital expenditure in the oil and gas sector. The company has expected to make investments worth USD 90.9 billion between 2016 and 2025, in Brazil.
- The discoveries of oil and gas fields demand exploration of the area to reach the production stage. Thus, these discoveries are expected to drive the country's wireline logging services market during the forecast period.
Brazil Wireline Logging Services Industry Overview
The Brazil wireline logging services market is moderately fragmented. Some of the key players in this market include Baker Hughes Company, Schlumberger Limited, Halliburton Company, Weatherford International Plc., Nabors Industries Ltd, Superior Energy Services, and others.
Brazil Wireline Logging Services Market Leaders
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Baker Hughes Company
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Schlumberger Limited.-
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Halliburton Company
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Weatherford International Plc.
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Superior Energy Services
*Disclaimer: Major Players sorted in no particular order
Brazil Wireline Logging Services Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Scope of the Study
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1.2 Market Definition
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1.3 Study Assumptions
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2. EXECUTIVE SUMMARY
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3. RESEARCH METHODOLOGY
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4. MARKET OVERVIEW
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4.1 Introduction
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4.2 Market Size and Demand Forecast in USD billion, until 2025
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4.3 Recent Trends and Developments
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4.4 Market Dynamics
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4.4.1 Drivers
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4.4.2 Restraints
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4.5 Supply-Chain Analysis
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4.6 PESTLE Analysis
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5. MARKET SEGMENTATION
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5.1 Location of Deployment
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5.1.1 Onshore
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5.1.2 Offshore
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5.2 Type
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5.2.1 Electric Line
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5.2.2 Slickline
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5.3 Hole Type
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5.3.1 Open-Hole
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5.3.2 Cased-Hole
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Strategies Adopted by Leading Players
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6.3 Company Profiles
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6.3.1 Baker Hughes Company
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6.3.2 Schlumberger Limited
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6.3.3 Halliburton Company
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6.3.4 Weatherford International Plc
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6.3.5 Nabors Industries Ltd
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6.3.6 Superior Energy Services, Inc.
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6.3.7 OilServ
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6.3.8 Pioneer Energy Services
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brazil Wireline Logging Services Industry Segmentation
The Brazil wireline logging services market report include:
| Location of Deployment | |
| Onshore | |
| Offshore |
| Type | |
| Electric Line | |
| Slickline |
| Hole Type | |
| Open-Hole | |
| Cased-Hole |
Brazil Wireline Logging Services Market Research FAQs
What is the current Brazil Wireline Logging Services Market size?
The Brazil Wireline Logging Services Market is projected to register a CAGR of greater than 2.62% during the forecast period (2024-2029)
Who are the key players in Brazil Wireline Logging Services Market?
Baker Hughes Company , Schlumberger Limited.- , Halliburton Company , Weatherford International Plc. and Superior Energy Services are the major companies operating in the Brazil Wireline Logging Services Market.
What years does this Brazil Wireline Logging Services Market cover?
The report covers the Brazil Wireline Logging Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Brazil Wireline Logging Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brazil Wireline Logging Services Industry Report
Statistics for the 2024 Brazil Wireline Logging Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brazil Wireline Logging Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
