Downhole equipment is a hydraulic oil recovery system which is used for hole enlargement, torque reduction, and drag resistance improvement. This tool helps in enhancing efficiency while reducing production and drilling costs. The downhole equipment helps in carrying out operations related to well completion process and examination of reservoirs. Continuous increase in the number of oil & gas projects along with governmental provisions, majorly in Middle eastern countries is driving the growth of downhole equipment market. Moreover, constant introduction of new technologies to optimize productivity in upstream acitivites by securing workforces is expected to provide significant growth opportunities for the players operating in the downhole equipment market.
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Top Key Major Players:-
1. Essential Energy Services Ltd.
2. Forum Energy Technologies
3. General Electric
4. Halliburton Company
5. National Oilwell Varco
6. Oil States International, Inc.
7. Schlumberger Limited
8. Superior Energy Services, Inc.
9. The Weir Group PLC
10. Weatherford International