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Premium Report Details
Base Year: 2024
Companies covered: 16
Tables & Figures: 10
Countries covered: 6
Pages: 80
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Middle East & Africa Coiled Tubing Market
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Middle East & Africa Coiled Tubing Market Size
The Middle East & Africa coiled tubing market size in 2024 was valued at USD 465.7 million and is estimated to grow at a CAGR of 3% from 2025 to 2034. On account of the rising marginal oil fields and an increase in energy demand, the need for investment in exploration and production has grown. Coiled tubing has supplied deep boreholes with seamless pipes which effective in the well workover wireline in operations during the repair operations. The technology involves a hose which is coiled in large spools to support the hydrocarbon production more efficiently.
Different characteristics have been contributing to the change of oil and gas sectors in international perspective. Additionally, new regulatory conditions, the development of technologies in the region and new patterns in the energy market have affected the situation greatly. One of the most significant instances is the signing of four intercompany agreements in Egypt in October 2024 intended to strengthen exploration, production and development in the oil and natural gas sectors. These agreements involve a consortium comprising Hassan Allam Holding, Infinity Capital Investment, ElSewedy Industrial Group, Ezz Steel, and Advanced Petroleum Services Group.
Middle East & Africa Coiled Tubing Market Trends
The Middle East & Africa coiled tubing industry is set to grow owing to the increasing offshore oil and gas activities, coupled with technological progress and investments in new wells exploration. Exploration & production expansion, backed by having ample reserves in the region along with improvement of infrastructure will improve the industry landscape. For example, in September 2024, PETRONAS obtained full hydrocarbon exploration operatorship and equity concession by the government over Area Onshore Block 2, located in Abu Dhabi. The 7,300 km2 block in the Al Dhafra region is PETRONAS's third concession in the country.
Middle East & Africa Coiled Tubing Market Analysis
The well intervention segment is anticipated to grow over USD 295 million by 2034. Ongoing advancements in drilling technologies, activities aimed at enhancing oil field production along with the increasing prevalence of mature oil wells are driving the demand for coiled tubing in well intervention operations. Shifting focus toward adoption of technologies which reduces the risk of potential system damage by adjusting various downhole equipment and operators seeking to improve operational efficiency, will positively influence the business dynamics.
The offshore segment is set to grow at a CAGR of over 3% through 2034. Ongoing maturation of onshore oil reserves and shifting focus by operators toward offshore locations for new opportunities will complement the industry landscape. In addition, ongoing investments in deep and ultra-deep seabed production, where coiled tubing operations offer significant cost advantages over traditional workover rigs. Paradigm shift toward onshore to deep-water exploration activities coupled with replacement of malfunctioning mechanical equipment by altering the flow dynamics and production profile of active wells is anticipated to further stimulate the business dynamics.
The Saudi Arabia coiled tubing market is set to grow over USD 180 million by 2034, attributed by the rising E&P initiatives along with the efforts being made in driller technologies. Also, increasing investments for oil & gas exploration activities, strong demand for continuous tubing for well-interventions, in particular as a result of growing mature oil wells, will add up to the industry scenario. For instance, in July 2024, Saudi Aramco has recently reported oil & gas finds in Saudi Arabia with the discovery of two unconventional oil fields, two natural gas fields, two gas reservoirs and a reservoir of light Arabian oil in the Eastern Province. These findings will complement the company’s efforts to acquire more energy resources.
Middle East & Africa Coiled Tubing Market Share
Mergers & acquisitions has been taken up by the prominent players in the Middle East & Africa coiled tubing industry to boost their competitive position. These strategies play a crucial role to boost the industry competition across the leading nations. Additionally, product improvements and the expansion of supply networks are other significant approaches employed by global players to enhance their existing market positions. Consequently, the global coiled tubing market is expected to experience substantial growth during the forecast period.
Middle East & Africa Coiled Tubing Market Companies
Major players operating across the industry include:
Middle East & Africa Coiled Tubing Industry News
The Middle East & Africa coiled tubing market research report includes in-depth coverage of the industry with estimates & forecast in terms of “Units” and “USD Million” from 2021 to 2034, for the following segments:
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