Drilling fluids are used to drill wells smoothly and eliminate drill cuttings from boreholes that are commonly generated during the process. Drilling fluids help extract oil and gas from reserves efficiently and effectively. Over the past few years, drilling activities have increased primarily in the offshore areas in Latin America. Drilling activities in the region are estimated to grow rapidly during the forecast period primarily due to impending governmental supportive schemes. Rise in drilling activities can be ascribed to significant investment in exploration and production activities. Majority of demand for drilling fluids arises from offshore regions. Golden Triangle formed by the Gulf of Mexico (GOM), West Africa and Brazil is the most attractive region for deep and ultra-deep water reserves across the world. Increasing distance of an oil field from the seashore signifies an increase in water depth. Drilling deep water reserves would require additional drilling fluids in a proper mix relative to an onshore well. This is expected to propel the consumption of drilling fluids in the region in the near future.
Venezuela and Argentina are among the top oil and gas exporting countries in the world. Venezuela is one of the top 10 oil producers in the world. Most onshore drilling activities in Latin America take place in Argentina and Venezuela. These countries are characterized by the discovery of sizeable shale gas reserves. A shifting trend towards unconventional source of energy is also a major driver for growth of the drilling fluids market. Countries are exploring unconventional gases such as shale gas and coal bed methane (CBM) to increase their production and shift towards higher eco-friendly fuel. Strong governmental support schemes that are likely to transform the demand scenario in Latin America are anticipated to reinforce Argentina’s economy with new avenues for the drilling fluids market.
The drilling fluids market in Latin America is segmented based on types of products into water-based fluids (WBFs), oil-based fluids (OBFs) and synthetic-based fluids (SBFs). Most drilling operations are performed using WBFs due to its cheap price, eco-friendly nature and less chemical treatment required before its disposal. In offshore regions, WBFs can be discharged into the seawater after treatment. This helps save logistics cost to bring waste drilling fluid onshore for disposal. Environmental regulations do not permit the disposal of OBFs and SBFs into the seawater due to their adverse impact on aquatic life. These fluids are transported onshore for treatment or after treatment (as per the facilities available at the offshore rig for treatment), and then disposed of using proper and safe techniques. SBFs and OBFs can be used several times after treatment and are disposed of when further treatment is uneconomical. Based on technology, the drilling fluids market in Latin America has been segmented into dispersed systems and non-dispersed systems. Dispersed systems accounted for majority of the market share in terms of revenue in 2013. This segment is anticipated to grow rapidly during the forecast period.
Baker Hughes Incorporated, Halliburton Company, Schlumberger Limited, and Weatherford International Limited are some of the key players in the drilling fluids market in Latin America. In 2013, these players collectively constituted more than 60% of the total market share in the region. Other players in the drilling fluids market in Latin America include Imdex Limited (AMC Oil & Gas), Unique Drilling Fluids, Inc., and Newpark Resources, Inc.
Chapter 1 Preface
1.1 Report Description
1.2 Research Scope
1.3 Market Segmentation
1.4 Research Methodology
1.5 List of Abbreviations
Chapter 2 Executive Summary
2.1 Latin America drilling fluids market snapshot
Chapter 3 Drilling Fluids Market - Latin America Industry Analysis
3.1 Introduction
3.2 Value chain analysis
3.3 Market drivers
3.3.1 Increased drilling activities in offshore areas of Latin America
3.3.2 Growing focus on developing deep-sea reserves and implementing horizontal drilling
3.3.3 Increasing exploration of shale gas, CBM and other unconventional resources
3.4 Market restraints
3.4.1 Growing environmental concerns regarding usage and disposal of drilling fluids
3.4.2 Political turmoil and government policies confining the market growth
3.5 Market opportunities
3.5.1 Emergence of nanotechnology for developing drilling fluids
3.6 Porter’s five forces analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.6.5 Degree of competition
3.7 Latin America drilling fluids: Market attractiveness analysis
3.8 Latin America drilling fluids: Company market share analysis, 2013
Chapter 4 Latin America Drilling Fluids Market - Product Segment Analysis
4.1 Latin America drilling fluids market: Product segment overview
4.1.1 Latin America drilling fluids market volume share by product segment, 2013 and 2020
4.2 Water-based fluids (WBF)
4.2.1 Latin America drilling fluids market estimates and forecast for water-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
4.3 Oil-based fluids (OBFs)
4.3.1 Latin America drilling fluids market estimates and forecast for oil-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
4.4 Synthetic-based fluids (SBFs)
4.4.1 Latin America drilling fluids market estimates and forecast for synthetic-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
Chapter 5 Latin America Drilling Fluids Market - Technology Analysis
5.1 Latin America drilling fluids market: Technology overview
5.1.1 Latin America drilling fluids market share by technology 2013 and 2020
5.2 Dispersed Systems
5.2.1 Latin America market estimates and forecast for dispersed system, 2012 - 2020 (USD Million) (Kilo Tons)
5.3 Non Dispersed Systems
5.3.1 Latin America market estimates and forecast for non dispersed system, 2012 - 2020 (USD Million) (Kilo Tons)
Chapter 6 Latin America Drilling Fluids Market – Country wise Analysis
6.1 Latin America drilling fluids market: Country wise overview
6.1.1 Latin America drilling fluids market volume share by country, 2013 and 2020
6.2 Argentina
6.2.1 Argentina drilling fluids market estimates and forecast, 2012-2020 (USD Million) (Kilo Tons)
6.2.1.1 Argentina drilling fluids market, by product, 2012 - 2020 (USD Million) (Kilo Tons)
6.2.1.2 Argentina drilling fluids market, by technology 2012 - 2020 (USD Million) (Kilo Tons)
6.3 Brazil
6.3.1 Brazil drilling fluids market estimates and forecast, 2012-2020 (USD Million) (Kilo Tons)
6.3.1.1 Brazil drilling fluids market, by product, 2012-2020 (USD Million) (Kilo Tons)
6.3.1.2 Brazil drilling fluids market, by technology, 2012-2020 (USD Million) (Kilo Tons)
6.4 Venezuela
6.4.1 Venezuela drilling fluids market estimates and forecast, 2012-2020 (USD Million) (Kilo Tons)
6.4.1.1 Venezuela drilling fluids market, by product, 2012-2020 (USD Million) (Kilo Tons)
6.4.1.2 Venezuela drilling fluids market, by technology, 2012-2020 (USD Million) (Kilo Tons)
6.5 Others (Rest of Latin America)
6.5.1 Others drilling fluids market estimates and forecast, 2012-2020 (USD Million) (Kilo Tons)
6.5.1.1 Others (Rest of Latin America) drilling fluids market, by product, 2012-2020 (USD Million) (Kilo Tons)
6.5.1.2 Others drilling fluids market, by technology, 2012-2020 (USD Million) (Kilo Tons)
Chapter 7 Company Profiles
7.1 Schlumberger Limited
7.1.1 Company overview
7.1.2 Product portfolio
7.1.3 Financial overview
7.1.4 Business strategy
7.1.5 SWOT analysis
7.1.6 Recent developments
7.2 Halliburton Company
7.2.1 Company overview
7.2.2 Product portfolio
7.2.3 Financial overview
7.2.4 Business strategy
7.2.5 SWOT analysis
7.2.6 Recent developments
7.3 Baker Hughes Incorporated
7.3.1 Company overview
7.3.2 Product portfolio
7.3.3 Financial overview
7.3.4 Business strategy
7.3.5 SWOT analysis
7.3.6 Recent developments
7.4 Newpark Resources, Inc.
7.4.1 Company overview
7.4.2 Product portfolio
7.4.3 Financial overview
7.4.4 Business strategy
7.4.5 SWOT analysis
7.4.6 Recent developments
7.5 Weatherford International Limited
7.5.1 Company overview
7.5.2 Product portfolio
7.5.3 Financial overview
7.5.4 Business strategies
7.5.5 SWOT analysis
7.5.6 Recent developments
7.6 National Oilwell Varco
7.6.1 Company overview
7.6.2 Product portfolio
7.6.3 Financial overview
7.6.4 Business strategy
7.6.5 SWOT analysis
7.7 Imdex Limited
7.7.1 Company overview
7.7.2 Product portfolio
7.7.3 Financial overview
7.7.4 Business strategy
7.7.5 SWOT analysis
7.7.6 Recent developments
7.8 Unique Drilling Fluids, Inc.
7.8.1 Company overview
7.8.2 Product portfolio
7.8.3 Business strategy
7.8.4 SWOT analysis
List of Tables
TABLE 1 Latin America drilling fluids market snapshot
TABLE 2 Comparative analysis of different drilling fluids
TABLE 3 Typical composition of water-based fluids
TABLE 4 Typical composition of oil-based drilling fluids
TABLE 5 Drivers for Latin American drilling fluids market: Impact analysis
TABLE 6 Restraints of drilling fluids market: Impact analysis
TABLE 7 Toxicity grades of drilling fluids
TABLE 8 Argentina drilling fluids market, by product, 2012 - 2020 (USD Million)
TABLE 9 Argentina drilling fluids market, by product, 2012 - 2020 (Kilo Tons)
TABLE 10 Argentina drilling fluids market, by technology, 2012-2020 (USD Million)
TABLE 11 Argentina drilling fluids market, by technology, 2012-2020 (Kilo Tons)
TABLE 12 Petrobras investment plan (2012-16) (USD Billion)
TABLE 13 Brazil drilling fluids market, by product, 2012 - 2020 (USD Million)
TABLE 14 Brazil drilling fluids market, by product, 2012 - 2020 (Kilo Tons)
TABLE 15 Brazil drilling fluids market, by Technology, 2012-2020 (USD Million)
TABLE 16 Brazil drilling fluids market, by Technology, 2012-2020 (Kilo Tons)
TABLE 17 Venezuela drilling fluids market, by product, 2012 - 2020 (USD Million)
TABLE 18 Venezuela drilling fluids market, by product, 2012-2020 (Kilo Tons)
TABLE 19 Venezuela drilling fluids market, by Technology, 2012-2020 (USD Million)
TABLE 20 Venezuela drilling fluids market, by Technology, 2012-2020 (Kilo Tons)
TABLE 21 Others drilling fluids market, by product, 2012-2020 (USD Million)
TABLE 22 Others drilling fluids market, by product, 2012-2020 (Kilo Tons)
TABLE 23 Others drilling fluids market, by Technology, 2012-2020 (USD Million)
TABLE 24 Others drilling fluids market, by Technology, 2012-2020 (Kilo Tons)
List of Figures
FIG. 1 Drilling fluids: Market segmentation
FIG. 2 Latin America drilling fluids market estimates and forecast, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 3 Value chain analysis
FIG. 4 South and Central America oil production, 1995 - 2013
FIG. 5 Offshore rig count in Latin America, (2009 - 13) (November to November)
FIG. 6 Latin American onshore rig count by country, 2012 - 2013
FIG. 7 Global offshore drilling expenditure, 2008 - 2012 (USD billion)
FIG. 8 Petrobras expenditure plan, 2012 - 2016 (236 billion) percentage share
FIG. 9 Top ten countries with technically recoverable shale gas resources, 2012, tcf (trillion cubic feet)
FIG. 10 Porter’s five forces analysis
FIG. 11 Latin America drilling fluids: Market attractiveness analysis, 2013
FIG. 12 Latin America drillings fluids: Company market share analysis, 2013
FIG. 13 Latin America drilling fluids market volume share by product, 2013 and 2020
FIG. 14 Latin America drilling fluids market estimates and forecast for water-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 15 Latin America drilling fluids market estimates and forecast for oil-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 16 Latin America drilling fluids market estimates and forecast for synthetic-based fluids, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 17 Latin America drilling fluids market revenue share by technology, 2013 and 2020
FIG. 18 Latin America estimates and forecast for dispersed systems, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 19 Latin America estimates and forecast for non-dispersed systems, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 20 Latin America drilling fluids market volume share by country, 2013 and 2020
FIG. 21 Argentina drilling fluids market estimates and forecast, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 22 Brazil drilling fluids market estimates and forecast, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 23 Venezuela drilling fluids market estimates and forecast, 2012 - 2020 (USD Million) (Kilo Tons)
FIG. 24 Others (Rest of Latin America) drilling fluids market estimates and forecast, 2012 - 2020 (USD Million) (Kilo Tons)
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Latin America Drilling Fluids Market
*86 figures and 60 tables includes