Drilling
waste management entails various processes adopted by Exploration and
Production (E&P) companies to manage their wastes in an
environment-friendly manner. Solids control, containment and handling, and
treatment and disposal are the three major methods for the management of drill
cuttings.
Focus on Waste Management
Among
all the drilling waste management techniques, containment and handling segment
is expected to grow at a CAGR of 9.18% over the forecast period (from 2018 to
2025) on account of their efficiency. Companies such as Ridgeline Canada have
their own spill management programs that contain a trained emergency responder
team to immediately0 respond to oil spills to minimize damage. The solids
control segment is anticipated to grow robustly by 2025 on account of its ease
of use.
Strict
regulations by regulatory agencies, such as the United States Environmental
Protection Agency (EPA), have forced companies to take preventive measures in
order to minimize pollution caused by drilling. For instance, Cubility AS has
signed two agreements with Stage-3 Separation and New Tech Solids Inc. for
disposal and control of solids. Its proprietary system, MudCube, has been
installed in multiple rig sites owing to its high efficiency in vacuuming drill
cuttings and reducing waste volumes.
Market Insights
The
global drilling waste
management market is anticipated to reach USD 7.13
billion by 2025, according to a research report published by Grand View
Research, Inc. High demand for energy across the globe is expected to drive the
market over the forecast period. In addition to this, developments of
resourceful techniques by oil exploration and production companies in deep
water areas are also expected to augment market demand.
Strict
policies due to rising concerns regarding water and land pollution are also
anticipated to have a positive impact on the market growth in the years to
come. Some of the key drill waste management companies include Augean PLC;
National Oilwell Varco; Halliburton Company; Schlumberger Limited; and
Ridgeline Canada, Inc.
In-Depth
Research Report On Drilling Waste Management Market:
https://www.grandviewresearch.com/industry-analysis/drilling-waste-management-market
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