The cuttings re-injection services market witnessed decreased demand owing to halted upstream activities i.e., (exploration, and drilling activities). Furthermore, the shift from fossil fuel to clean energy is expected to challenge the market during the forecast period. The cuttings re-injection services market was valued at $180.6 million in 2020 and is projected to reach $259.7 million by 2030, growing at a CAGR of 3.6% from 2021 to 2030.
Cutting re-injection is a total containment or zero discharge
drilling waste disposal process. It includes three significant components
high-pressure injection pump, cuttings transfer system, and slurrification
unit. In addition, some of the other optional equipment used in CRI process are
grinding mill, slurry holding tank, and sizing shaker. Cutting re-injection
(CRI) services comprise project regulatory support, technical-engineering
support, data management services for CRI disposal operations, daily
technical-engineering support, process monitoring, and reporting during active
CRI operations, and project documentation.
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Factors propelling the cutting re-injection services market
growth are its advantages such as its potential to discard other wastes that
would have to be taken to shore for disposal, allowing utilization of less
expensive drilling fluid, no need of offshore transportation, cuttings can be
injected if pre-treated, less chances of ground and surface water
contamination, and removal of seafloor effect. However, some of the
disadvantages hindering the market growth are increase in air pollution because
of large power needs, rise in requirement of large equipment and labors, and
others.
The cuttings re-injection services market is segmented into
type and application. Based on the type the market is categorized into dedicate
injection and annular injection. On the basis of application, the market is
bifurcated into on-shore and off-shore. Region-wise, the cutting re-injection
services market is analyzed across North America, Europe, Asia-Pacific, and
LAMEA. The cutting re-injection services market share is analyzed for all
segment and countries.
On the basis of type, the annular injection segment garnered
83.4% share in 2020. Based on the application, the onshore segment is expected
to grow at CAGR of 1.6% during the forecast period. CRI process is common to
both onshore and offshore operations. But the CRI process is easily manageable
on onshore site because of the availability of space.
On the basis of region, the Asia-Pacific is expected grow at
a CAGR of 4.8% during the forecast period. China has strong presence in South
China Sea. Chinese oil & gas companies have come across with gas fields
with reserves of around 300 billion tons along with oil fields reserves of
around 200 million tons of oil.
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Based on the region, Europe garnered market share of 26.6%
and expected to grow at a CAGR of 2.8% during the forecast period. The UK
government has announced to drill oil & gas wells in the North Sea. The
government has granted permission to drill well as a part of a cautious
transformation away from fossil fuels, and protect jobs and the economy.
Some of the key players operating in the cuttings
re-injection services industry are Baker Hughes Company, NOV Inc., Advantek,
Augean PLC, GN Solid Control, Haliburton, Schlumberger, PPLI, Weatherford, and
Terralog Technologies.
Other players in the cuttings re-injection services market
are Aker Solutions, Archer Limited, KCA Deutag, Odfjell Drilling, Drill
Cuttings Disposal Company/ Apollo Resources, Step Oiltools, Derrick
Corporation, Calder Limited, Scomi and others.
Key findings of the study
- The
report outlines the current cuttings re-injection services market trends
and future scenario of the cuttings re-injection services market from 2021
to 2030 to understand the prevailing opportunities and potential
investment pockets.
- The
cuttings re-injection services market size is provided in terms of
revenue.
- On the
basis of type, the dedicated injection; segment gained 16.6% share in 2020
in terms of revenue.
- On the
basis of application, off-shore segment garnered market share
of 81.1% in 2020 in terms of revenue.
- On the
basis of region, the North America region garnered market share of 19.8%
in 2020 in terms of revenue.
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Impact of COVID-19 on the cuttings re-injection services
market
- The
spread of COVID-19 in numerous countries halted the industrial activities.
- This
resulted into oversupply scenario in oil and gas sector.
- This
consequently resulted into decreased drilling activities.
- The
decrease in drilling activities resulted in decreased demand for oilfield
services such as waste management.
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