Weatherford International plc announced the commercial release of the Raptor™ 2.0 cased-hole evaluation system on 19 June 2017 at the Society of Petrophysicists and Well Log Analysts Annual Symposium

North America, the market leader for artificial lift system in 2015, is expected to get surpassed by LAMEA by 2022, as oil reserves in Saudi Arabia have reached the maturity stage and companies are implementing enhanced oil recovery techniques to extract oil to commence deep drilling in order increase productivity

In the recent report on oilfield equipment, the leading market research company Research and Markets declared that the global rental market of oilfield equipment is projected to grow at a CAGR of 3.87 per cent from 2017 to 2022, with reaching a market size worth US$20.55bn by 2022

The Middle East remained the world’s largest oil-producing region in 2016, according to BP’s newly released BP Statistical Review of World Energy 2017