Nigeria 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 | > 1.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Nigeria Wireline Logging Services Market Analysis
The Nigeria wireline logging services market is expected to grow approximately at a CAGR of more than 1% during the forecast period. Factors such as the development of deepwater and ultra-deepwater reserves, coupled with growing drilling and completion activities in Nigeria are expected to drive the wireline logging services market during the forecast period. However, high volatility of crude oil prices along with militant attacks on oil and gas facilities in Nigeria are expected to restrain the growth of the market being studied.
- The E-line segment is expected to hold the maximum share in the market, in 2019, owing to its higher accuracy and reliability.
- Factors such as increasing offshore oil and gas discoveries coupled with the liberalization in the industry in Nigeria are expected to create opportunities for the players involved in the market.
- The Nigerian oil & gas industry is expected to be driven by the increasing inflow of investments and the government's efforts of redesigning investment and growth strategies. This, in turn, is expected to boost the demand for wireline logging services in Nigeria during the forecast period.
Nigeria Wireline Logging Services Market Trends
This section covers the major market trends shaping the Nigeria Wireline Logging Services Market according to our research experts:
E-Line Segment to Dominate the Market
- In 2018, the E-line segment accounted for the maximum share in the wireline logging services market and is expected to continue its dominance during the forecast period as well in Nigeria.
- Electrical line (E-line) is a cable that is utilized to lower the tools and transmit data to the surface and to the tools deployed. An e-line can perform the slickline job and can also help to evaluate (log) the formation when the data must be sent to the surface.
- E-lines consists of single strands or multi-strands. E-Line is a more value-added deployment method, as it covers both requirements, i.e. it can intervene on a mechanical level and collect data about well conditions too.
- The market for E-Line wireline logging services in Nigeria has been growing, owing to there being a higher number of old wells (conventional) that require intervention and monitoring. In addition, a number of downhole tools that were previously deployed by coiled tubing can now be deployed using E-Line, which is more cost-effective.
- Owing to the above-mentioned properties, the demand for e-line wireline logging services has been growing over the forecast period.
Investments in Oil and Gas Industry and Supportive Government Policies to Drive the Market
- Nigeria is one of Africa's biggest economies and among the most populous in Africa. The country is relatively politically stable when compared to other African Nations.
- In 2018, China National Offshore Oil Corporation (CNOOC) announced its plan to increase investments in the Nigerian oil and gas sector, especially its offshore investments, to about USD 17 billion. Out of that USD 17 billion, CNOOC would invest USD 3 billion in its existing portfolio in the country's offshore oil and gas operations.
- According to the National Bureau of Statistics, the Foreign investment inflow into Nigeria's oil and gas industry rose by 259% to reach USD 85.62 million in the first quarter of 2018. Moreover, the offshore industry has witnessed increased investment leading to an increase in average offshore rig count in the past few years in Nigeria.
- Further, the Nigerian National Petroleum Corporation (NNPC) is also taking steps to attract massive investments in the nation's oil and gas industry. Hence, with increased investment from foreign players and government initiatives, the wireline logging services industry is expected to witness significant demand during the forecast period.
Nigeria Wireline Logging Services Industry Overview
The Nigeria wireline logging services market is moderately consolidated. Some of the key players are Energy Quest Oilfield Ltd., FloSmart Energy Services Ltd., Baker Hughes Company, Schlumberger Ltd., and Halliburton Company.
Nigeria Wireline Logging Services Market Leaders
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Energy Quest Oilfield Ltd
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FloSmart Energy Services Ltd
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Schlumberger Ltd.
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Halliburton Company
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Baker Hughes Company
*Disclaimer: Major Players sorted in no particular order
Nigeria 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. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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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, till 2025
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4.3 Recent Trends and Developments
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4.4 Government Policies and Regulations
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4.5 Market Dynamics
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4.5.1 Drivers
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4.5.2 Restraints
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4.6 Supply Chain Analysis
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4.7 PESTLE Analysis
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5. MARKET SEGMENTATION
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5.1 Hole Type
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5.1.1 Open Hole
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5.1.2 Cased Hole
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5.2 Wireline Type
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5.2.1 Electric Line (E-Line)
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5.2.2 Slick Line
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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 FloSmart Energy Services Ltd
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6.3.2 Energy Quest Oilfield Ltd
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6.3.3 Baker Hughes Company
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6.3.4 Schlumberger Ltd
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6.3.5 Halliburton Company
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6.3.6 Nabors Industries Ltd
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6.3.7 Orion Energy Services
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6.3.8 Expro Group
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Nigeria Wireline Logging Services Industry Segmentation
The Nigeria wireline logging services market report include:
| Hole Type | |
| Open Hole | |
| Cased Hole |
| Wireline Type | |
| Electric Line (E-Line) | |
| Slick Line |
Nigeria Wireline Logging Services Market Research FAQs
What is the current Nigeria Wireline Logging Services Market size?
The Nigeria Wireline Logging Services Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in Nigeria Wireline Logging Services Market?
Energy Quest Oilfield Ltd, FloSmart Energy Services Ltd, Schlumberger Ltd., Halliburton Company and Baker Hughes Company are the major companies operating in the Nigeria Wireline Logging Services Market.
What years does this Nigeria Wireline Logging Services Market cover?
The report covers the Nigeria Wireline Logging Services Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Nigeria Wireline Logging Services Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Nigeria Wireline Logging Industry Report
Statistics for the 2024 Nigeria Wireline Logging market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Nigeria Wireline Logging analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
