Market Size of Europe Wireline Logging Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 0.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Europe Wireline Logging Services Market Analysis
The market for Wireline logging services in Europe is expected to grow at a CAGR of over 0.5% during the forecast period of 2020-2025. Factors like increasing deepwater operations and horizontal drilling in countries like Russia are likely to drive the wireline logging services market in the region. Moreover, growing drilling and completion activities in the Norwegian sea can be a significant factor for the growing demand for well logging in the forecast period. On the flip side, growing protests from social activists and organizations coupled with the highly volatile crude oil price is expected to be a restraining factor not only for the oil and gas industry but also for the activities like well logging services market.
- New offshore discoveries are going to drive the market in the forecast period. With the discovery of a new field in the Norwegian part of the North Sea, which is expected to produce 0.5% global oil supplies. This, in turn, is expected to drive the well logging services market in the coming years.
- In total, 102 wells were drilled on the United Kingdom Continental Shelf (UKCS) in 2018 (85 development, 8 exploration, and 9 appraisal). With the most recent tax break, production activities in the discoveries are expected to commence during the forecast period, creating vast opportunities for the market players.
- Russia with its upcming projets is anticiipated to domminate the wireline logging market. Russia is drilling new wells in the existing fields such as Sakhalin-1, Chayvo, the Odoptu-Sea field, and the Lebedinskoye field for any further discoveries.
Europe Wireline Logging Services Industry Segmentation
The Europe wireline logging services market report include:
| Wireline Type | |
| E-Line | |
| Slickline |
| Hole Type | |
| Open Hole | |
| Cased Hole |
| Geography | |
| Russia | |
| United Kingdom | |
| Norway | |
| Rest of Europe |
Europe Wireline Logging Services Market Size Summary
The Europe wireline logging services market is poised for growth, driven by increasing deepwater operations and horizontal drilling activities, particularly in Russia. The Norwegian Sea's drilling and completion activities are also expected to contribute significantly to the market's expansion. However, challenges such as social activism and fluctuating crude oil prices may pose constraints on the market's growth trajectory. The discovery of new offshore fields, especially in the Norwegian part of the North Sea, is anticipated to bolster the demand for well logging services, as these discoveries are expected to contribute to global oil supplies.
Offshore operations are projected to dominate the wireline logging services market in Europe, with a significant portion of European crude oil production expected to come from offshore sources. The Rosebank/Lochnager field in the UK Continental Shelf represents a major prospect, with substantial recoverable oil, which is likely to drive market growth. The opening of new areas for petroleum activities by the Norwegian Government is expected to further stimulate the offshore oil and gas market, enhancing the demand for wireline logging services. Russia's extensive drilling activities, including new projects in existing fields, are set to maintain the country's dominance in the wireline logging market, supported by the development of large-scale discoveries and increased horizontal drilling. The market is characterized by a consolidated landscape, with major players such as Baker Hughes, Schlumberger, Halliburton, and Weatherford International leading the industry.
Europe Wireline Logging Services Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast, till 2025
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1.3 Onshore and Offshore Active Rig Count
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1.4 Historic and Forecast of Upstream CAPEX in USD billion, by Onshore and Offshore, 2018-2025
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1.5 Historic and Forecast of Offshore CAPEX in USD billion, by Water Depth, 2018-2025
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1.6 Historic and Forecast of Offshore CAPEX in USD billion, by Region, 2018-2025
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1.7 Brent Crude Oil Spot Prices Forecast, till 2025
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1.8 Major Upcoming Upstream Projects
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1.9 Recent Trends and Developments
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1.10 Government Policies and Regulations
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1.11 Market Dynamics
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1.11.1 Drivers
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1.11.2 Restraints
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1.12 Supply Chain Analysis
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1.13 Porter's Five Forces Analysis
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1.13.1 Bargaining Power of Suppliers
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1.13.2 Bargaining Power of Consumers
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1.13.3 Threat of New Entrants
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1.13.4 Threat of Substitutes Products and Services
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1.13.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Wireline Type
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2.1.1 E-Line
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2.1.2 Slickline
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2.2 Hole Type
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2.2.1 Open Hole
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2.2.2 Cased Hole
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2.3 Geography
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2.3.1 Russia
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2.3.2 United Kingdom
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2.3.3 Norway
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2.3.4 Rest of Europe
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Europe Wireline Logging Services Market Size FAQs
What is the current Europe Wireline Logging Services Market size?
The Europe Wireline Logging Services Market is projected to register a CAGR of greater than 0.5% during the forecast period (2024-2029)
Who are the key players in Europe Wireline Logging Services Market?
Schlumberger Limited, Halliburton Company, Weatherford International plc, Baker Hughes Company and Superior Energy Services Inc are the major companies operating in the Europe Wireline Logging Services Market.
