There has been no question that the wireline logging industries is growing by leaps and bounds. By 2019, this industry is expected to be worth a collective $26 Billion dollars. The Wireline network is devoted to finding alternative solutions to the need for oil from many developing nations. Originally, the oil industry was focused on onshore locations and shallow water spots. However, these areas are quickly becoming depleted. Thus engineers are being forced to find a different way to acquire oil until alternatives continue to be developed. Although it’s a complicated process, engineers are quickly developing wireline solutions where oil companies extract their needed material from deeper locations within the ocean.
The main thing that engineers are looking for is locations that produce High Temperature High Pressure (HPHT) conditions, because in that case wireline companies can play an important role in developing hydrocarbons.
Interestingly enough, the real go-getters in this situation will once again be America, because of the fact that they are expected to lead the wireline services market with a global share of a whopping 45%. Of course, the key driving force for the wireline market continues to be the worldwide demand for oil and gas. The market is going to continue to experience a number of unique challenges, including environmental concerns from a number of different groups. Moreover, the public outcry can make the jobs of engineers and oil executives that much more stressful.
Luckily, many consultants have developed a number of research and development initiatives in order to smooth over these concerns. That, coupled with a number of favorable regulations from America have helped it to become one of the leaders in this industry. The landscape is very competitive however, so leaders in this market will have to continue to strategize in order to help the U.S. stay on top and to help provide help to the economy from this industry.