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Middle East and Africa Coiled Tubing Market Trends

Report ID: GMI12634
Published Date: Dec 2024
Report Format: PDF

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Middle East & Africa Coiled Tubing Market Trends

Middle East & Africa coiled tubing industry is set to grow owing to the increasing offshore oil and gas activities, coupled with technological progress and investments in new wells exploration. Increased expenditure on facility development and infrastructure maintenance along with ongoing exploration and ample reserves in the region will contribute to the industry growth. For instance, in September 2024, PETRONAS secured an oil & gas exploration concession for Onshore Block 2 in Abu Dhabi. The government granted full equity and operatorship to PETRONAS Abu Dhabi for the exploration phase. This 7,300 km2 block in the Al Dhafra region is the company's third concession in Abu Dhabi, following two previous unconventional block acquisitions in recent years.

Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The Middle East & Africa coiled tubing industry was valued at USD 465.7 million in 2024 and is estimated to grow at a 3% CAGR from 2025 to 2034, driven by rising exploration and production investments to meet growing energy demands.

The well intervention segment is anticipated to surpass USD 295 million by 2034, driven by advancements in drilling technologies and the increasing prevalence of mature oil wells.

The Saudi Arabia coiled tubing market is projected to exceed USD 180 million by 2034, bolstered by rising exploration and production investments and advancements in drilling technologies.

Major players in the industry include ASECO, Baker Hughes, Emirates Western, Halliburton, Jereh, NOV, Oceaneering, Oilserv, Premier Coil Solutions, SLB, Smith Gulf, and Superior Energy Services.