Self-Assembling Rigs To Reduce Operating Costs And Save Time!

Posted November 16, 2018 by sainath

Asia Pacific was the largest region in the oil and gas upstream activities market in 2017, accounting for around 33% of the total market. The USA was the largest country in the market accounting for around 20% of the total market.
Companies involved in providing support activities for oil and gas operations are offering self-assembling rigs to reduce operating costs and save time. Self-assembling rigs are automated rigs that can walk at up to 30 feet per hour, rotate 360 degrees, and can be operated with a remote control. Conventional oilfield drilling rigs require a crane to assemble them in pieces and thus consume more time. Self-assembling rigs ship in lower amount of loads, can assemble automatically, and move faster compared to conventional rigs. Self-assembling rigs are supported by control room with touchscreen and joysticks, and 200 sensors to monitor pneumatics, oil flow, and other processes. Major companies offering self-assembling rigs include Dragon Drilling Co., Stewart & Stevenson and Atlas Copco.


Asia Pacific was the largest region in the oil & gas upstream activities market in 2017, accounting for one-third of the market share. This was mainly due to high demand and consumption of energy from the world's economic growth engines China and India.

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According to The Business Research Company’s Consultant, Nitin Gianchandani, Companies providing support activities for oil and gas operations are using rig-less technology to reduce turnaround time for decommissioning of wells. Rig-less P&A refers to decommissioning of oil wells wherein companies need not replace tubes and drill pipes while placing primary or secondary barriers, thus offering significant cost savings over rig-based operations Also, the equipment used for rig-less P&A can also be operated at a water depth of 1600 feet. For instance, Claxton Engineering Services has carried out plugging and abandoning of more than hundred wells in North Sea using rig less P&A technology.

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Saudi Aramco was the largest competitor in the oil and gas upstream market, with revenues of $378.0 billion in 2014. To overcome the low oil price conditions prevailing in the oil and gas industry, Aramco is taking advantage of downstream industry. As a part of its growth strategy it is building additional refining capacity to capture more value from refining products. The company is also integrating energy and chemicals businesses to maximize income and reinforce its position in the global oil and gas industry.
Oil and gas upstream activities market in this report is segmented into crude oil & natural gas, oil and gas wells drilling services, and oil and gas supporting activities.

Oil And Gas Upstream Activities Global Market Report 2018 is a detailed report giving a unique insight into this market. The report is priced at $6000 for an individual user. To use across your office, the price is $9000 and $12000 if you wish to use across a multinational company.

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Issued By Sainath
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Categories Business , Industry , Services
Tags crude oil market report , oil and gas supporting activities market overview , oil and gas upstream activities market global report , oil and gas upstream activities market report 2018
Last Updated November 16, 2018