Market Insights of BOP Manufacturers

One of the key safety equipment in oil and gas segment is designed by BOP Manufacturers, a blowout preventer (BOP)  is a large valve used to seal, control, and monitor oil and gas wells to prevent blowouts. Blowout Preventers were developed to cope with erratic pressures and uncontrolled flow.

BOPs act as a secondary pressure control device that controls the back pressure kick which saves the environment, property and lives of the people working on the rig.

They are considered the most important as they are used in a drilling rig and in controlling the back pressure kick inside the wellbore. The BOP’s are tested regularly to ensure the safety of the crew, rig, and the wellbore.  

Design and Types of BOP

Earlier, oilfield discoveries were allowed to blow out until pressure reduced enough to cap. This resulted in the loss of valuable product as well as loss of life. But today’s average BOP can withstand 15,000 psi in water depths up to 10,000 ft.

The BOP is categorised into two parts such as Annular BOPs, which are also known as Spherical BOP and RAM BOPs. The Annular BOP being designed in a semi-circular shape, it is a piece of rubber reinforced with steel to close around the drill string. The fluid motion reduces the stress and friction between the BOP and seal, thus the BOP requires less maintenance and has a longer field life. It is also designed in such a way that it will operate even at lower pressure, which reduces the number of hydraulic accumulators and the cost of the operation.

The RAM BOP is a device that can be used to quickly seal the top of the well in the event of a well control event. A ram BOP consists of two halves and they are designed flat for sealing purpose over an open wellbore.

List of the leading BOP Manufacturers

There are many BOP Manufacturers in India, Middle East, USA, and Canada. Here is the comprehensive list of top 5 leading BOP Manufacturers-

Schlumberger, USA- Being founded in the year 1926, Schlumberger’s is the world’s first well logging companies. It is recognised as one of the leading oilfield services companies in the world. It is a major supplier of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry.

National Oilwell Varco, USA – National Oilwell Varco has provided the technical expertise, advanced equipment and operational support necessary for success. They have the capability and vision to serve the needs of the evolving and challenging industry.

Baker Hughes, USA – Based in more than 120 nations, Baker Hughes, is the first stream provider of integrated oilfield products, services and digital solutions. The giant energy harness the passion and rich experience of its people to enhance productivity across the global oil and gas sector.

Worldwide Oilfield Machine, Inc., USA – Worldwide Oilfield Machine, Inc. was founded in 1980. It is a worldwide platform of engineering centres, manufacturing facilities, sales offices, and various other services.

Control Technology Inc., Canada – Control Technology is the fastest growing Canadian suppliers and manufacturers of Surface Mounted Well Control Equipment. They are leading in the industry with a rich experience of 35 years in BOP and Well Control Systems. With the reliability of their organisation,  they offer high-quality and innovative products.

Global Market of BOP Manufacturers

According to the latest market report, the global blowout preventer market is expected to grow by nearly 4% until 2021. The upcoming BOP Manufacturers is an emerging trend in BOP sector. There has been an increase in the number of drilling activities in APAC.

Currently, there are 10 BOP Manufacturers with BOP’s working offshore. As per the information, Cameron leads the pack with approximately 422 BOPs working on offshore rigs, Hydril has about 272, and Shaffer has 248.

Conclusion

The oil and gas market will account for the largest BOP Manufacturers. Having a huge variety of options, the demand for blowout preventer has been increasing on daily basis. Due to tough competition in the market, the middle east companies have to maintain a certain quality in order to stay in the market.