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.