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Horizontal drilling volumes rose by 64% in 2009-2013. Such significant growth was due to high effectiveness shown by horizontal wells in low-permeability reservoirs of West Siberia. If earlier the development of horizontal drilling was constrained by the technological factor and the high cost of operations, higher supply on the market for this type of services and improved horizontal well drilling and construction techniques made these services increasingly more affordable for VICs and independent oil producers. Some VICs have already announced their plans, according to which they intend to reduce the scope of production drilling by highly effective horizontal wells.
In addition, Russia faces the challenge of developing unconventional hydrocarbons, especially ‘hot shale’ of the Bazhenovskaya suite (with reserves estimated at up to 40 billion tons), while horizontal drilling is expected to play a pivotal role in tapping these tight reserves in view of North-American experience in the production of shale oil.
The purpose of this study is to provide a detailed analysis of the Russian market for horizontal well construction, including an overview of the main indicators of the E&P sector: output of crude oil, exploratory, development and horizontal drilling. Separate analysis will be provided for the following segments: drilling of horizontal well sections and sidetracking, MWD and LWD, completion of horizontal wells and development of horizontal wells using coiled tubing. The report estimates the value of this market for each of the segments under review, as well as its dynamics from 2013 through 2025.
RPI has tracked the development of Russia’s E&P sector for over 20 years, thus enabling the company’s analysts to offer deep insights into the prospects and risks inherent in the country’s production ventures. RPI’s analysts are also well versed in Russia’s hydrocarbon resource base, and this allows them to provide a cutting-edge assessment of the Russian market for horizontal well construction. The study provides detailed information on the main oil service companies that render well drilling and construction services in Russia. It also analyzes the needs and approaches to the procurement of horizontal well construction services by Russian VICs and independent companies.
The key sections of the report provide the following information:
• Main indicators of the Russian oil industry. This section gives the key performance indicators (KPI) of the oil production industry, including output volumes, production, exploration and horizontal drilling.
• An analysis of the Russian market for horizontal well construction. This section quantifies the main market segments of the market in terms of monetary value. It analyzes the competitive environment, giving a breakdown of the market in terms of the main service providers and their share in the overall use of services.
• An analysis of demand for horizontal well construction. This section analyzes the needs and approaches to the procurement of horizontal well construction services by Russian VICs and independent companies.
• An analysis of supply for horizontal well construction. This section offers overviews of the key contractors on the horizontal well construction market in Russia. Each overview provides background information on the company and its owners, financial status, a list of available services and production facilities, as well as operating indicators.
• Forecast of the Russian horizontal well construction market from 2015-2025. This forecast is devoted to a forecast of the markets, estimating the value of each segment based on the needs of Russia’s E&P sector in light of the production targets announced by domestic oil companies. In crafting this forecast, a number of factors come into play, including incremental production from low-permeability reservoirs, development of the Bazhenovskaya suite, incremental production from high-viscosity and high-paraffin crude, as well as production from low-rate wells.
This product could be a valuable tool in the strategic decision-making process of oil service companies and companies that manufacture equipment used to perform and maintain horizontal drilling and are interested in rolling out their business in Russia. The report makes it possible to evaluate the most rapidly growing segments of the market, gain a better understanding of customers and current market trends, and also forecast the market’s expansion in the coming years.
The report’s forecasts and assumptions on probable development of the horizontal well construction market in Russia are based on a detailed analysis of information gained from reliable sources. This allows the reader to size up the market’s growth potential, opportunities, risks and threats both for the market as a whole and for its various players.