Australia’s Energy Company Woodside Planned to have Drilling Campaign in Myanmar in 2017
Australia: Woodside has decided to
drill at least four wells in Myanmar’s offshore area in order to prove
commercialization of gas discoveries made by the company in the blocks. Out of
these four wells, two are expected to be exploratory and other two to be appraisal
wells.
TechSci Research depicts that
the company’s aggressive drilling campaign in Myanmar will result in increased
rig count in the area, and with growth in oil & gas exploration activities,
the market for natural gas compressors is set to expand in near future. Gas
transmission applications are typically powered by a reciprocating engine
fueled by natural gas which would surge the demand of natural gas compressors.
According
to TechSci Research report, “Global Natural Gas Compressors Market
By Technology, By Application, By Region, Competition Forecast and
Opportunities, 2011 - 2021”, the global natural gas compressors market is anticipated to
cross USD 5.5 billion by 2021. On the basis of technology, natural gas
compressors are segmented into two categories - positive displacement
compressors and dynamic compressors. Among these categories, positive
displacement compressors form the most preferred natural gas compressors
category, predominantly due to their low cost and increasing use in gas
gathering and processing. However, in the recent years, majority of the
upstream and midstream companies are inclining towards dynamic compressors due their
higher efficiency and low maintenance compared to positive displacement
compressors.