Transparency Market Research has published a new report "Water Management Market - Global Industry Analysis, Size, Share, Trends, Growth and Forecast 2015 - 2023" to its report store.
Albany, NY -- (SBWIRE) -- 11/17/2016 -- The global water management market for the oil and gas industry has been expanding at a rapid pace since the last decade. The market is gaining from the growing inclination of oil exploration and production companies towards unconventional oil well drilling and completion techniques, specifically hydraulic fracturing and horizontal drilling, which require fresh water in high amount.
According to a research study published by Transparency Market Research (TMR), the scarcity of freshwater resources across the world has compelled the companies operating in the oil and gas industry to focus on saving and recycling water in their operations, which is driving the demand for water management in the oil and gas industry significantly.
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Challenges Faced During Water Acquisition and Wastewater Disposal Fuel Demand for Water Management
Saudi Aramco, Gazprom, National Iranian Oil Co., Exxon Mobil, Rosneft, PetroChina, BP, Royal Dutch Shell, Petroleos Mexicanos, Kuwait petroleum Corp., and Chevron are some of the biggest companies functioning in oil and gas production across the world.
These enterprises face a number of challenges during the process of water acquisition as well as wastewater disposal. The whole process puts tremendous pressure on them in terms of management and operational expenditure. This is when the water management solutions emerge at the forefront. These solutions enhance production and operational quality in oil and gas reservoirs, providing cost efficiency and environmental protection.
Water Management Solutions Vendors Focusing to Reducing Water Management Cost
Ovivo, Sclumberger, Veolia, Ridgeline Services, Green Hunter Resources, Aquatech, Layne, and Heckmann Corp. are the major vendors of water management solutions for the oil and gas industry. These players are increasingly focusing on reducing operational risk as well as cost incurred on water management, enhancing efficacies, and maintaining a social license to function in communities.
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The leading vendors are adopting a number of approaches to provide best-in-class water management solutions. Here is a snapshot of the most popular approaches to manage water in the oil and gas industry:
- Reutilization of Oilfield Wastewater : The production of oil and gas through unconventional techniques generates huge volumes of flowback fluid. Vendors are recognizing this fluid as an asset that creates opportunities to reduce the consumption of freshwater, decrease costs, and increase sustainability.
- Increasing Usage of Brackish Water as a Replacement for Freshwater
Various vendors, particularly in water-deficient regions, have begun to research on the potential of brackish water as a replacement for freshwater in order to reduce the usage of freshwater in hydraulic fracturing programs. The demand for brackish water is likely to escalate in the coming years as the water conservation bodies in several economies are implementing rules and regulation to limit freshwater withdrawals for oil well drilling.
- Avoiding Transportation by Trucks
The transportation of water by trucks costs a huge sum of money. In fact, it is one of the costliest components of the water management cycle in the oil and gas industry. The increase in the recycling of oilfield wastewater and on-site water treatment is helping operators in decreasing the need to transport water and wastewater. Additionally, vendors are deploying networks of pipes in order to transfer fluids to centralized units for treatment.
Water hauling services, produced water treatment services, and water disposal services are the main solutions offered by the vendors of water management solutions in the oil and gas industry.
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