Report

Blowout Preventers Market: Developments, Opportunities and Market Trends [2016-2026]

A blowout is an uncontrolled release of crude oil and/or natural gas from the formation when the safety operations and pressure control operations on the rig have failed. If the bottom hole pressure is not maintained above the required formation pressure, the well fails which leads to a formation kick and eventually leading to larger blowouts.

In order to quench the blowout, special well control equipments were designed termed as Blowout Preventers. A blowout preventer is a large, specialized valve installed in stacks to control the leakage of formation fluids from the wells. BOPs seal, control and monitor oil/gas wells to prevent any unwanted influx that can be fatal for the workers. BOPs are developed in a way to handle abnormal pressures during the course of drilling. They also prevent the tubing and casing inside the wellbore to blow down which is termed as underground blowout leading to huge loss in revenue.

Causes of blowouts:

  • When the height of mud column in the wellbore is not enough to maintain the required hydrostatic pressure
  • Decrease in mud weight due to solids removal, gas intrusion in mud, dilution, etc.
  • Due to lost Circulation- Mud being lost into soft formations
  • During pulling out or running in of drill pipes when drilling, etc.

It is very rare in the oil industry to use only one type of BOP on a well. Two, three or more preventers are generally stacked up to, one on top of the other to make a BOP stack to provide greater flexibility and safety in a well control operation. Basically, there are two types of blowout preventer used for closing a well:

  • Annular Preventer: It is a circular rubber packing unit having high tensile strength. The packing unit to close the annulus can be compressed inwards against the drillpipe by a piston operated by hydraulic power maintaining a seal around the drill string. It is the first BOP used when closing in a well during a kick.
  • RAM type preventer: It uses a pair of opposing steel rams that extend towards the centre of the wellbore to restrict flow from the wellbore. Three types of RAM preventers are available-
    • Blind Rams: They completely close off the wellbore when there is no pipe in the hole
    • Pipe Rams: They seal off around a specific size of pipe, sealing off the annulus
    • Shear Rams: They cut through the drillpipe for emergency shut-in and is the last option when all other control procedures have failed.

The detailed technology, working and manufacturing of BOPs have been explained in our report.

If the pressure control over the well is lost, swift actions must be taken to avert the consequences of a blowout. These consequences can be:

  • Loss of human life
  • Loss of rig and equipment
  • Loss of reservoir fluids etc.

To avoid such consequences, there is a need to invest in the BOP market with continuous developments to control severe blowouts these days. There has been a regular variation in the BOP market in accordance with drilling operations over the past few years. The global BOP market stood at approximately 29541.133 million in the year 2016 and is expected to reach XXX million by 2026 at a CAGR of XX % during the forecasted period.

The needs to avoid the consequences of blowout are the main drivers of the BOP market. Blowouts in offshore is a major concern due to oil spills and degradation of environment. However, other key drivers include the strict government policies to maintain a healthy environment during any part of oil & gas operation. Reduction in drilling operations due to oil price crisis, multilateral wells, advancements in pressure control systems, etc. have been the major restraining elements to the viability of BOP market. The opportunities in the BOP market lies in the advancements of BOP structure, its ability to control erratic downhole pressures with increasing drilling depth in the near future.

The profiles and the comprehensive operational study of various key players in the BOP market like GE Oil & Gas, National Oilwell Varco, Uztel, Halliburton, Rongsheng Machinery, Ojsc Naftagaz, Jiangsu XInde, Foundation Petro, etc. have been well analysed and included in the report.

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By Technology

  • Annular Preventer
  • RAM Preventer

Application

  • Offshore
  • Onshore

Geographical

  • North America
  • Europe
  • Asia Pacific
  • South & Central America
  • Middle East & Africa
  • Rest of the World (ROW)
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Blowout Preventers market
  • Market segmentation based on Technology, Application & Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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