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Booming Oil Extraction and the Higher Water Cut to drive the GCC’s Produced Water Management Market Finds Frost & Sullivan - Strong R&D investment by stakeholders bodes well for the PW equipment and services market - Environmental.Frost.com
Booming Oil Extraction and the Higher Water Cut to drive the GCC’s Produced Water Management Market Finds Frost & Sullivan

 

NewswireToday - /newswire/ - Dubai, UAE, United Arab Emirates, 2014/01/27 - Strong R&D investment by stakeholders bodes well for the PW equipment and services market - Environmental.Frost.com.

   
 
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Produced Water (PW) is a byproduct of oil and gas extraction and needs special handling like any industrial waste. PW treatment is a major area for R&D in the Gulf Cooperation Council (GCC) countries, providing huge market opportunities for PW management equipment and service providers. The market will witness continued growth as the PW Society, Global Water Summit, International Islamic Trade Finance Corporation, Qatar National Research Fund, a few water treatment companies, educational institutions, and government agencies in the region work to improve existing PW treatment standards.

New analysis from Frost & Sullivan (environmental.frost.com), Produced Water Market Analysis in Gulf Cooperation Council (GCC) Countries, finds that the market earned revenues of USD 316.8 Million in 2013 and estimates this to reach USD 482.6 Million in 2017.

"Considering the large total proven oil reserves in the GCC, the amount of PW generated is quite high," said Kshitij Nilkanth, Program Manager, Environmental Technologies, Frost & Sullivan. "To address the mammoth task of safely handling PW and extracting maximum oil before disposal, various governments are investing in R&D through joint efforts and grants such as the USD 0.7 Million provided by Qatar National Research Fund to ConocoPhilips for the development of newer technologies."

Other countries like the United Arab Emirates, Kuwait and the Kingdom of Saudi Arabia, however, have a lower water cut (PW proportion of total production) and therefore, do not invest in PW management. Suppliers in these countries are not given a clear idea about current or future management strategies, hindering them from knowing and addressing requirements. In fact, many oil and gas companies do not even monitor water produced from the fields and are unaware of the various options to manage PW.

Enhanced oil recovery (EOR) technologies too can be disruptive to the PW management market as EOR restrains the volume of PW generated from a well. On the other hand, growing volumes of oil and gas extraction will continue to produce a large amount of PW that offsets the PW volume drop enabled by EOR methods.

While the PW management equipment market is competitive, the services segment is relatively new in GCC and will be a high-growth sector in the long run.

"One of the most effective ways to enter the GCC PW management market is through joint research collaboration to utilise the technology developed within the region," reasoned Nilkanth. "This will help capture the domestic market, increase technology knowhow, and develop relationships with customers to ensure more projects."

If you are interested in more information on this study, please send an email to Tanu Chopra/ Paroma Bhattacharya, Corporate Communications, at tanu.chopra[.]frost.com/paromab[.]frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.

Produced Water Market Analysis in Gulf Cooperation Council (GCC) Countries is part of the Environmental Growth Partnership Service program. Frost & Sullivan’s related studies include: Water and Wastewater Treatment Equipment Market in Saudi Arabia, Global Waste to Energy Plant Market, and Global Smart Water Metering Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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Produced Water Market Analysis in Gulf Cooperation Council (GCC) Countries / P79D-15

Contact: Nimisha Iyer, Corporate Communications Middle East, North Africa and South Asia
P: +91 22 6607 2007 / F: +91 22 2832 4713 - E: niyer[.]frost.com.

 
 
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Booming Oil Extraction and the Higher Water Cut to drive the GCC’s Produced Water Management Market Finds Frost & Sullivan

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