October 07, 2021
As cited by the research report titled ‘Global Cuttings re-injection services Market Size study, by Type (Dedicated Injection, Annular Injection), by Application (On-Shore, Off-Shore), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global cuttings re-injection services market is projected to grow with a strong CAGR to accumulate significant returns over 2021-2027.
Increasing environmental concerns coupled with strict regulations regarding drill waste management are the major factors driving global cuttings re-injection services market growth.
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For the record, re-injection helps in achieving total containment or zero discharge of drilled waste. The three most important components are high-pressure injection pump, cuttings transfer system, and slurrification unit. Few other equipment used in the process are slurry storage tank, grinding mill, and sizing shaker.
The need for cutting re-injections processes has been increasing since most of the drilling activities tend to affect wildlife, contribute to climate change, and pollute the environment. Even the drill cuttings and water released by offshore oil & gas installations are a constant source of contaminants.
Project regulatory assistance, daily technical engineering support, information management services for CRI disposal operations, technical engineering support, process monitoring and reporting during active CRI processes, and project documentation are usually involved in the cuttings re-injection (CRI) services.
Speaking of negatives, easy availability of alternative drill cuttings management processes is likely to hinder market progression over the estimated timeline.
Based on type, global cuttings re-injection services industry is segmented into dedicated injection and annular injection. Considering application range, the marketplace is divided into on-shore and off-shore.
The geographical analysis of the global cuttings re-injection services industry involves regions like North America, Asia Pacific, Europe, and Latin America. Experts cite that North America industry is currently deemed to be a major growth hub during the study period, owing to increasing environmental concerns and rising drill waste management regulations in the region.
Meanwhile, Asia Pacific is also poised to generate lucrative revenues over 2021-2027, on account of expanding opportunities for oil & gas companies across the region.
Prominent players influencing the global cuttings re-injection services industry trends are Scomi Group Berhad, Calder Ltd., Derrick Corporation, Step Oiltools GmbH, Apollo Resources International Inc., Drill Cuttings Disposal Co. LLC, Odfjell Drilling Ltd., KCA Deutag Drilling GmbH, Archer Limited, and Aker Solutions ASA.