Drill Quip Inc.
Increasing Demand from the Offshore Sector
The offshore oil and gas industry accounts for about 30% of the global crude oil production. The Middle East, North Sea, Brazil, and the Gulf of Mexico are the major offshore oil and gas producing regions.
In 2017, around 40% of shallow water oil production came from mature regions, such as Europe, North America, and Asia-Pacific. The mechanical liner hangers are deployed in shallow waters, as they are relatively less expensive and technically less challenging for the operators to explore and drill. These systems are in high demand, where the well construction cost is the key priority for the customer.
Worldwide Liner Hanger System Industry to 2025 - Increasing Demand from the Offshore Sector - ResearchAndMarkets com morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.