GCC Drilling Fluids Market Forecast: Revenue Trends and Growth Projections for period from 2023 to 2028.

Market Insights and Analysis: GCC Drilling Fluids Market Overview and Projections (2023-2028)

The GCC Drilling Fluids Market is projected to grow at a CAGR of around 5.9% during the forecast period, i.e., 2023-28.

Top leading companies in the GCC Drilling Fluids Market includes:

New Park Resources Inc., Drill Chem Drilling Fluid Factory, Scomi Group Bhd, RTE Group, Gumpro drilling Fluid, Baker Hughes, Petrochem Performance Chemical ltd. LLC, Others

GCC Drilling Fluids Market Driver: Expansion of the Allied Industries Driving Demand for Drilling Fluids in GCC Region

The rising demand for crude oil globally and the surging exploration activities of oil and gas industry in the GCC countries like Saudi Arabia, Kuwait, etc., are driving the demand for Drilling Fluids in the market. Additionally, rising onshore boring operations and expansion of offshore oil & gas fields by the countries such as Kuwait, Saudi Arabia, etc., are anticipated to further drive the demand for Drilling Fluids in the region. For instance, in 2021, Saudi Arabia’s Aramco announced the start of the development of the vast Jafurah unconventional gas field, the largest non-associated gas field in the Kingdom of Saudi Arabia. The plant is expected to initiate its production operations by 2025.

Moreover, the rising construction and mining activities in the GCC region require drilling machines to develop the projects, which certainly boosts the need for Drilling Fluids in the regional market. For instance,

• In 2023 Oman invested USD 300 million in a copper mining project.

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Report Segmentation:

The market is categorized into the following segments in the report:

By Fluid System

-Water-based

-Oil-based

-Synthetic-based

-Others (Air, foam, etc.)

By Application

-Offshore

-Onshore

• The extensive availability of crude oil & gas reserves in offshore areas of the GCC region, is a prominent factor leading to an augmented use of Drilling Fluids in offshore operations.

By Well Type

-Conventional Well

-High Pressure and High Temperature (HPHT)

By Competition

-Market Share of Top Companies

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GCC Drilling Fluids Market Geographic Reach:

The Geographic Reach of the Olive Market evaluates the spread and significance of GCC Drilling Fluids Market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.

• The UAE
• Saudi Arabia
• Bahrain
• Oman
• Qatar
• Kuwait

Note: If you require specific information not covered in the current report, we can provide it through customized option

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