Oil and gas exploration activities require extensive drilling in the earth’s crust to extract crude oil and natural gases. The outcome of this drilling activity is mainly crude oil and drilling mud.
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This drilling mud includes drilling fluids and materials obtained from the earth’s crust, such as sand, rocks, and drill cuttings among others. Drill mud and drill cuttings are harmful to the environment, and hence its management becomes a matter of prime concern. These environmental impacts are mainly caused due to emissions that are generated during drilling operations. The increasing demand of environmental protection and avoiding the contamination of drilling fluids has given rise to the concept of waste management in drilling operations.
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Asia Pacific is the fastest growing market among all regions worldwide, as it consumes a lot of energy to keep this growth intact. Petroleum products are important sources of energy, thereby resulting in the exponential demand for crude oil in this region.Handling waste produced by the extraction activity of crude oil becomes a mandatory task for major oil and gas explorer companies. Stringent regulations and compliance norms imposed by the government in Asia Pacific countries to minimize the environmental risk,especially in the vicinity of oil production sites, makes waste management highly significant. Therefore, these factors act as major market drivers for the Asia Pacific waste management in drilling market.
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The Asia Pacific region is dominating the waste management in drilling market, wherein China holds the maximum share of around 40% in comparison to other countries in this region. Schlumberger (U.S.), National Oil well Varco, Inc., (U.S.), Baker Hughes Inc., (U.S.), Weatherford International Ltd (U.S.) are prominent market players in the waste management in drilling market in Asia-Pacific.
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