World Well Stimulation Materials forecasts to 2010 & 2015

Navi Mumbai, Maharashtra India (PressExposure) July 09, 2007 -- Bharat Book Bureau, a leading market information distributor has put forth a report 'World Well Stimulation Materials forecasts to 2010 & 2015' ([]) High oil and gas prices over much of the 2002- 2006 period have enabled and motivated major producers to raise production of crude oil and natural gas via increasing exploration and use of well stimulation techniques as a consequence. In countries where existing reserves are depleting at a rapid pace, stimulation needs are signifi- cantly expanding.

Four countries dominate worldwide demand

In the major oil producing countries of the Middle East, stimulation requirements are minimal at present due to the presence of a relatively small number of producing wells that require limited production enhancement. In fact, over 90 percent of world well stimulation material demand is concentrated in just four countries: the US, Russia, China and Canada, in order of importance. All four of these countries cover vast land masses and large coastlines suitable for onshore and offshore exploration. US demand by itself represents about 60 percent of the global market for well stimulation materials. Through 2010, US sales of well stimulation materials will grow in excess of the global average due to increasingly maturing existing oil and gas wells in the country as well as rising exploration and drilling in challenging environments -- oftentimes requiring deeper well drilling and use of more expensive well stimulation materials. Demand for well stimulation materials holds the strongest prospects in China through 2010, as the country continues to exhibit robust economic growth. To maintain such a rapid pace of economic development, China is attaching increasing focus on energy security from both external and internal supplies. Western well stimulation material producing companies are increasingly setting up production sites in China.

Proppants to rise the fastest

Proppants, which have become the largest product type, are also expected to register the strongest value growth among major product categories through 2010. Gains will be driven by the increasing use of more expensive ceramic and other proppants instead of traditional sand proppants in deeper wells drilled in harsher environments. Among base fluid materials, gelling agents and foaming agents are expected to post above average growth. Growth for foaming agents will result from their ability to reduce the total amount of hydraulic fracturing fluids required for each fracturing job. Although the markets are relatively small, higher value products such as organometallic crosslinking agents and specialty biocides also represent strong growth prospects.

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Press Release Submitted On: July 09, 2007 at 3:01 am
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