Oil price continuous falling request drilling technical innovation

Recently, the international oil prices keep falling. It’s a bad turbulence between the major energy exporters. Many oilfield project are delayed, even end for produce.

Owing to low oil prices, then the produce cost must reduce to keep some profit for energy exporter. For start an oil project, it needs consume manpower and material resources. And the materials include equipment and oilfield chemicals. As we know, oilfield chemicals are a big issue; Health, Safety and environmental protection always are the major factor, especially influence for project onshore. It already results to research new management regulations in North America and Western Europe. The pollution problem from hydro fracture prompt the governments make new rules. And appeal oil & gas company public the oilfield chemicals used in hydro fracture. This public information will push the application for environmental-friendly economy chemicals.

Some global marketing directors from Energy Company make clear their attitude on oilfield chemicals. Compare with last year, the drilling environment become more extreme, and the change range on PH and salt content become wider when deal with. So the current oilfield chemicals develop focus on three directions: reduce material cost, better compatibility and reduce pollute with environment.

The market participant’s view is the current drilling holes much deeper than before. With the increase of the drilling depth, temperature and pressure of the bottom hole continuously raise higher. It has a higher requirement for drilling mud mix formula, which must more complex, and include the biopolymer, corrosion prevention and lubricant etc.

It’s definitely a large challenge for all oilfield chemicals suppliers. A drilling technical innovation is requested to reduce the cost, so energy producer can still keep business and profit when oil price falling.