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Nigeria Oil and Gas Fishing Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Casing Cutters, Milling Tools, Overshots and Spears, Fishing Jars, and Others), Application (Onshore an

Publisher The Insight Partners
Published Jul 03, 2024
Length 75 Pages
SKU # TIP19078996

Description

Nigeria Oil and Gas Fishing Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Casing Cutters, Milling Tools, Overshots and Spears, Fishing Jars, and Others), Application (Onshore and Offshore), and Country


The Nigeria oil and gas fishing market size is projected to reach US$ 64.71 million by 2031 from US$ 44.34 million in 2023. The market is expected to register a CAGR of 4.8% during 2023-2031.

Rise in Export of Crude Oil and Gas from Nigeria is Boosting the Nigeria Oil and Gas Fishing Market

Nigeria exports to Asia Pacific, Europe, and South America, which have rapidly increased the demand for crude oil and gas. According to the Nigerian Bureau of Statistics, the crude oil sector is the major revenue contributor to the total exports from Nigeria, with more than 87% of the total exports in the first quarter of 2024 valued at US$ 24.2 billion. The Nigerian government is taking initiatives to facilitate the natural gas sector growth and increase gas production owing to the rise in demand for natural gas as an energy transition fuel. This fuels the drilling and production activities in onshore and offshore wells. For instance, in March 2021, the Nigerian government launched the Decade of Gas initiative that focused on investment and planning the development of natural gas resources, increasing the export of natural gas to benefit economic growth. Such initiatives are boosting the growth of the natural gas sector and activities of exploration, drilling and production, which fuels the demand for fishing tools and services in the country. Thus, the rise in exports of crude oil and gas drives the Nigeria oil and gas fishing market.

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has commenced the 2024 Licensing Round during the Offshore Technology Conference in Houston, Texas. This is one of the major steps taken by Nigeria's government to develop its oil & gas sector and draw the attention of international stakeholders. The Licensing Round provides exploration blocks with substantial economic capability, reinforced by a regulatory framework concentrated on the policies under the Petroleum Industry Act 2021. The major oil & gas companies, such as TotalEnergies, are planning to leave Nigeria's onshore oil market. TotalEnergies and its partners declared the beginning of production from the Akpo West field on the PML2 license in Nigeria. By the middle of 2024, Akpo West is anticipated to add 14,000 barrels of production per day, followed by up to ~4 million cubic meters of gas per day by 2028. Shell has declared to sell its onshore Nigerian subsidiary, Shell Petroleum Development Company of Nigeria, to Renaissance, which is anticipated to benefit Shell's Bonga offshore platform in Nigeria's Gulf of Guinea. Key oil and gas companies such as Royal Dutch Shell, Chevron, Total SA, ExxonMobil, and Sterling Exploration are taking initiatives toward firming their position in the offshore oil & gas sector in Nigeria. Initiatives by the government and leading operators in the oil & gas industry are boosting the growth of the oil & gas industry in Nigeria, thereby propelling the growth of the oil & gas fishing market in the country.

The Nigeria oil and gas fishing market analysis is carried out by identifying and evaluating key players in the market. Archer Nigeria Limited, Baker Hughes Co, Equity Petroleum Services Nigeria Ltd., NOV Inc., Schlumberger Ltd., Tecon Oil Services Ltd., Weatherford International Plc, Halliburton, Samtex Oilfield Services Nigeria Limited, and Uniterm Nigeria Limited are among the key players covered in the Nigeria oil and gas fishing market report. The report includes growth prospects in light of current Nigeria oil and gas fishing market trends and driving factors influencing the market growth.

Reasons to buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Nigeria oil and gas fishing market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the Nigeria oil and gas fishing market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Nigeria market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Table of Contents

75 Pages
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness by Product
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Nigeria Oil and Gas Fishing Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Vendors in the Value Chain
5. Nigeria Oil and Gas Fishing Market - Key Market Dynamics
5.1 Nigeria Oil and Gas Fishing Market - Key Market Dynamics
5.2 Market Drivers
5.2.1 Growing Drilling Activities in Nigeria
5.2.2 Rise in Export of Crude Oil and Gas from Nigeria
5.3 Market Restraints
5.3.1 Lack of Skilled Labors in Fishing Services
5.4 Market Opportunities
5.4.1 Rise in Divestment in Onshore Oil Fields and Oil Discovery in Offshore Fields
5.5 Future Trends
5.5.1 Government Initiatives to Boost Oil and Gas Production
5.6 Impact of Drivers and Restraints:
6. Nigeria Oil and Gas Fishing Market Analysis
6.1 Nigeria Oil and Gas Fishing Market Revenue (US$ Million), 2021-2031
6.2 Nigeria Oil and Gas Fishing Market Forecast and Analysis
7. Nigeria Oil and Gas Fishing Market Analysis - by Product
7.1 Casing Cutters
7.1.1 Overview
7.1.2 Casing Cutters: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Milling Tools
7.2.1 Overview
7.2.2 Milling Tools: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
7.3 Overshots and Spears
7.3.1 Overview
7.3.2 Overshots and Spears: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
7.4 Fishing Jars
7.4.1 Overview
7.4.2 Fishing Jars: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
7.5 Others
7.5.1 Overview
7.5.2 Others: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
8. Nigeria Oil and Gas Fishing Market Analysis - by Application
8.1 Onshore
8.1.1 Overview
8.1.2 Onshore: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Offshore
8.2.1 Overview
8.2.2 Offshore: Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
9. Competitive Landscape
9.1 Heat Map Analysis by Key Players
9.2 Company Positioning and Concentration
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
11. Company Profiles
11.1 Baker Hughes Co
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Schlumberger NV
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Halliburton Co
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Tecon Oil Sevices Ltd.
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 NOV Inc
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Weatherford International Plc
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Samtex Oilfield Services Nigeria Limited
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Uniterm Nigeria Limited
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Equity Petroleum Services Nigeria Limited
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Archer Nigeria Limited
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About The Insight Partners
LIST OF TABLES
Table 1. Nigeria Oil and Gas Fishing Market Segmentation
Table 2. List of Vendors
Table 3. Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million)
Table 4. Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million) - by Product
Table 5. Casing Cutters: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Table 6. Nigeria Oil and Gas Fishing Market - Revenue and Forecast to 2031 (US$ Million) - by Application
LIST OF FIGURES
Figure 1. Nigeria Oil and Gas Fishing Market Segmentation, by Country
Figure 2. PEST Analysis
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Nigeria Oil and Gas Fishing Market Revenue (US$ Million), 2021-2031
Figure 5. Nigeria Oil and Gas Fishing Market Share (%) - by Product, 2023 and 2031
Figure 6. Milling Tools: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 7. Overshots and Spears: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 8. Fishing Jars: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 9. Others: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 10. Nigeria Oil and Gas Fishing Market Share (%) - by Application, 2023 and 2031
Figure 11. Onshore: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 12. Offshore: Nigeria Oil and Gas Fishing Market- Revenue and Forecast to 2031 (US$ Million)
Figure 13. Heat Map Analysis by Key Players
Figure 14. Company Positioning and Concentration

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