GCC Perforating Guns Market

GCC perforating guns anticipated to grow at higher CAGR due to increasing production of oil & gas in the region. Perforating guns are increasingly used in the oil & gas industry because perforation operation is an essential step in good completion.

GCC Perforating Guns Market Overview

It is a device used to create holes in the casing or liner to achieve efficient communication between the reservoir and wellbore. It is used to perforate oil and gas wells in preparation for production. Containing several shaped explosive charges, perforating guns are available in various sizes and configurations. The diameter of the gun is used typically determined by the presence of wellbore restrictions or limitations imposed by the surface equipment.

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Major GCC Perforating Guns Market Drivers

The factors driving the GCC perforating guns market include increasing production of oil & gas in the region. Perforating guns are increasingly used in the oil & gas industry because perforation operation is an essential step in good completion. It involves creating the flow path between the reservoir and the wellbore to inflow the reservoir fluid into the wellbore. Usually, most of the oil & gas wells are perforated with cemented casing. A flow path is created during perforation with the help of energy detonation by specially shaped charges. The growth of the oil & gas industry will directly affect the growth of the perforating gun market during the forecast period. According to the Oxford Institute of Energy Studies, in 2019, the crude oil reserves stood at 297.6 billion barrels in Saudi Arabia, representing 17% of the world total. In the same year, Saudi Arabia produced 11.8 million barrels per day of crude, blended, and unblended condensates and natural gas liquids. Increasing technical advancement in perforating guns will boost the market growth during the forecast period. For instance, Halliburton offers WiFire acoustic firing head, enabled by the DynaLink telemetry system, which allows the operator to control over perforation, along with access to real-time reservoir data.

Restraint in the GCC Perforating Guns Market

However, the positive head perforation results in blockage and impairment of fluid flow into the wellbore, and well cannot be tested immediately. This factor can act as a restraint and hamper market growth.

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Type – Segment Analysis

Based on the type, the hollow carrier is expected to grow at a higher CAGR during the forecast period. Hallow carrier guns are pressure-tight steel tubes in which the shaped charges are positioned. Hallow carrier guns perform better than exposed guns because they use more significant charges with optimizing phasing and increased shot density. For instance, Schlumberger Limited offers a hollow carrier gun performing system with maximum perforator performance. Their hollow carrier guns are designed to comprise a carrier, charges, detonating cords, and boosters.

Application – Segment Analysis

Based on the application, offshore is expected to grow at a higher CAGR during the forecast period. A perforating gun is used to create an opening in casing used in oil & gas well drilling. These guns commonly hold several explosive-shaped charges to create the opening called for in opening different types and sizes of casings. This heavy seal is done to ensure no liquid in the reservoir can reach the wellbore. For instance, Abu Dhabi National Oil Company is the largest offshore oil & gas producer in the UAE with the capacity of more than 1.6 million barrels of oil per day and 3 billion standard cubic feet of gas per day.

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Key Developments:

• • In 2021, Hunting introduced H-3 perforating system. The H-3 perforating system features Hunting latest ControlFire Recon switch technology that allows the user to read detonator resistance in each gun downhole or at the surface with the company VeriFire panel.
  • In 2018, Schlumberger introduced new Tempo instrumented docking perforating gun system. This ground breaking combination of a plug-in gun design with real-time advanced downhole measurements enables and monitors the well’s dynamic underbalance to create clean perforations that boost reservoir productivity.

Segments covered in the Report:

The GCC perforating guns market has been segmented on the basis of type, depth, well type, application and countries. Based on type, the market is segmented into wireline conveyed, Hollow Carrier, tubing strip, and tubing conveyed. Based on depth, the market is segmented into below 3000 ft, 3000-8000 ft, and above 8000 ft. Based on well type, the market is segmented into Horizontal, and Vertical. Based on application the market is segmented into offshore, and onshore.

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Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Depth, By Well Type, By Application, By Countries
Regional Coverage	Saudi Arabia, UAE, Qatar, Bahrain, Rest of GCC
Companies Profiled	Profiles of Top 10 Major Companies Operating in “GCC Perforating Guns Market”
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

GCC Perforating Guns Market by Type

• • Wireline Conveyed
  • Hollow Carrier
  • Tubing Strip
  • Tubing Conveyed

GCC Perforating Guns Market by Depth

• • Below 3000 ft
  • 3000-8000 ft
  • Above 8000 ft

GCC Perforating Guns Market by Well Type

• • Horizontal
  • Vertical

GCC Perforating Guns Market by Application

• • Offshore
  • Onshore

GCC Perforating Guns Market by Countries

• • Saudi Arabia Perforating Guns Market All-Up
  • UAE Perforating Guns Market All-Up
  • Qatar Perforating Guns Market All-Up
  • Bahrain Perforating Guns Market All-Up
  • Rest of GCC Perforating Guns Market All-Up