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Pressure Control Equipment Market
Introduction
Pressure control equipment is a set of tools and device that are generally used to maintain the optimal pressure levels inside a wellbore during well intervention or workover operations. The pressure control equipment can withstand arduous conditions which ensure safety and quality, and minimize risks during drilling. It is used in number of applications where the pressure needs to be measured, monitored, and controlled. Rapid implementation of advanced technology in oilfield equipment on the account of growing global investment in exploration and production (E&P) is considered to be key factors influencing the development of pressure control equipment market.
Pressure Control Equipment Market – Notable Developments
Some of the leading players operating in the pressure control equipment market are Schlumberger, GKD Industries, Integrated Equipment, Brace Tool, Hunting, TIS Manufacturing, Baker Hughes, a GE company (BHGE), National Oilwell Varco, Weatherford International, The IKM Group, FHE USA, Control Flow, Lee Specialties, The Weir Group, IoT Group, and others.
In February 2019, Schlumberger and Rockwell Automation, one of the largest companies dedicated to industrial automation and information, entered into an agreement to form a joint venture called Sensia, the first fully-integrated provider of digital oilfield automation solutions. Additionally, it created a JV – OneStim with Weatherford International, PLC in March 2017 to offer unconventional resource plays’ products and services to their customers in the U.S. and Canada.
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