Centralizers are casing equipment used to maintain the consistency of the cement sheath all around the pipe. In essence, these devices act as a reliable seal between the wellbore and casing. It offers a landing platform for the bottom and top cementing plugs to prevent cement from leaking back into the inner diameter. Float equipment is a type of equipment used to lessen the strain on the derrick.
Crude oil price volatility is still having an effect on global E&P investment. This may eventually have an influence on the value chain of upstream oil and gas projects. Furthermore, the expansion of the centralizers and float equipment market may be impacted by fluctuations in crude oil prices. This is depending on the political and economic health of oil-producing countries.
Manufacturers of well-completion equipment have an opportunity due to the recent finds of oil and gas in continental shelves and sedimentary basins in the Vaca Muerta (Argentina) and Arctic Circle. The potential for oil and gas production from these recent finds is enormous.
For instance, The Arctic area is thought to include over 90 billion barrels of unknown oil. Moreover, the area also includes 1,669 trillion cubic feet of undiscovered gas and 44 billion barrels of unknown natural gas liquid, as per the USGS.
Additionally, the need for fossil fuels to meet domestic transportation, energy generation, and other related sectors' needs has been boosted by economic expansion in various nations. Global energy demand is anticipated to expand, which will drive upstream E&P activity in the upcoming years. The OPEC predicts that by 2040, the oil consumption will reach 111.1 million barrels per day.
For example, the second stage of the Mad Dog oil field project was started by BP plc. In the same vein, Royal Dutch Shell plc's announcement to explore the Penguins area in the North Sea showed a commitment to E&P activities. Therefore, the demand for centralizers and float equipment will grow as a result of this trend in E&P initiations.
Around 80% of the world's oil and gas wells were drilled in onshore areas. However, due to recently found offshore fields, activities in offshore fields are predicted to advance faster than onshore operations. As a result, the demand for centralizers and float equipment will increase along with the need for well-completion equipment.
Every fourth or third knuckle joint has a centralizer, which keeps the casing from resting on the edge of the borehole. Since the casing and borehole wall are evenly spaced apart, cement may be distributed evenly across the annular region, preventing thin sections. A mud cake channel is generated by thicker drilling mud that travels up the annulus due to an uncentered casing caused by uneven cementing, which is a major cause of groundwater pollution.
Source: P&S Intelligence