Albany, NY -- (SBWIRE) -- 01/31/2017 -- Oil well logging is a primary procedure that helps characterize the subsurface search for hydrocarbons. Currently, well logging has become a routine procedure for every oil well drilled in the world. Logging helps analyze drilling-related data as well as to reduce the chances of maintenance failures while drilling. In the earlier stages of its development, the applications of this process were limited to basic lithologic description and strati-graphic correlation. Today, the global oil well logging market is a crucial part in the analysis of a location in detail such as the characterization of rock facies and depositional reconstruction.

The recent advances in electronics and computer have also helped reduce the costs in the global oil well logging market and facilitated the improvements in the technology. Oil well logging is expected to gain a tremendous demand over the coming years on account of the stabilizing oil extraction industry.

Global Oil Well Logging Market: Top Drivers and Trends

The ever-increasing demand for oil as a fuel in the automotive and other industries is pushing the oil and gas industry to find ways to improve extraction procedures from their oil wells, thereby considerably pushing the global oil well logging market. As the demand for oil and crude-based derivatives increases around the world at staggering speeds, so will the rate of oil extraction, or the functioning of oil wells. This will provide the impetus that players from the global oil well logging market need to evolve their business over a greater number of locations and in a more accurate analytical sense.

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The oil well logging process is, however, receiving a somewhat negative perspective from the oil and gas industry, due to its extremely high dependency on the reliability of data generated from any geographical location, a process which is relatively risky and often falls to human errors. This is currently restricting the global oil well logging market. However, the technological advancements in the geographical surveys such as seismic technology and implementation of better and automated technology for well logging brings new opportunities for the global oil well logging market.

The global oil well logging market is segmented on the basis of the types of log techniques, into electrical logs, porosity logs, and lithology logs. Electrical logs are further classified into resistivity and image logs. Resistivity logs are further classified into Latero logs and Induction logs.

Global Oil Well Logging Market: Geographical Analysis

On the basis of geography, the global market for oil well logging market can be segmented into North America, Europe, Asia Pacific, and the rest of the world. In North America, the U.S. and the Canada are the currently high value proponents in the global oil well logging market, providing better opportunities to the existing and new market players in market. In the Asia Pacific region, China, Indonesia, India, and Malaysia are the leading countries currently producing crude oil and thus attracting new investments in the oil well logging market. In Europe, Norway and the U.K. are the key countries producing crude oil. Also, Saudi Arabia and Qatar, being the leading regional producers of crude oil, are where the bulk of all opportunities lie in the global oil well logging market.

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Global Oil Well Logging Market: Companies Mentioned in the Report

The key players in the global oil well logging market so far have included Advanced Reservoir Technologies, Inc., Baker Hughes Incorporated, Canadian Sub-Surface Wireline and Production Services, Inc., Cardinal Surveys Company, CL Consultants Limited, Collier Consulting, Inc., and Crosco Integrated Drilling & Well Services Co. Ltd.

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