The modern world is incredibly reliant on oil. Look around you, and you’ll see electronics everywhere around us, whether in an office, on the street, or in homes. These electronics require electricity to operate. While many countries have started adopting renewable energy sources for electricity generation, the reality is that oil, gas, and other fossil fuels still supply most of the world’s electricity.
Statistics show approximately 63 percent of the world’s electricity came from fossil fuels in 2020. While this number will steadily decrease over the years, the reality is that transitioning from fossil fuels to renewable energy will take time.
Till then, oil and gas exploration and production companies will play a major role in powering the earth as they help unearth untapped resources from the its surface. However, doing so without the right oilfield service equipment isn’t possible, and oil and gas exploration companies rely on OCTG equipment to ensure they can extract oil and gas safely from the Earth’s surface.
Statistics show that the global oil country tubular goods market was worth approximately $21 billion in 2020. However, experts project it’ll grow to $37.5 billion by 2030, expanding rapidly at a compound annual growth rate of 6.5 percent.
What Are Oil Country Tubular Goods?
Oil Country Tubular Goods are essential for modern oil extraction. You’ll need OCTG equipment if drilling for oil onshore or offshore.
OCTG equipment generally consists of three types. They include:
- Drill pipes: These are durable pipes used in the drilling process.
- Casing: The casing is extremely important for drilling activities because it stabilizes the wellbore. It also prevents unwanted gases and fluids from entering the well.
- Tubing: Tubing is also necessary for extraction and drilling because it helps transport oil and gas from beneath the surface to the ground.
Most oil and gas exploration companies use OCTG equipment that has been produced according to the American Petroleum Institute’s specifications. The American Petroleum Institute has strict and standardized specifications that define the properties of these pieces of equipment. It also classes OCTG equipment into ten separate grades.
The American Petroleum Institute’s grading scale has become the gold standard in the oil and gas exploration and production industry because it ensures versatility and safety.
The Benefits of Oil Country Tubular Goods in Modern Oil Extraction
Here are the benefits of oil country tubular goods in modern oil extraction. They include:
Oil Country Tubular Goods Prevent Cracking
OCTG equipment is developed according to the American Petroleum Institution’s specifications, meaning it doesn’t crack. It’s not uncommon for Sulfide stress cracking to occur when water and hydrogen sulfide mix with corrosion and high tensile stress. Unfortunately, high-strength steel products and solutions cannot resist this stress and crack. Fortunately, that’s not the case with OCTG equipment because they’re built to resist this defect. OCTG equipment is treated with heat following welding, which prevents Sulphide stress cracking.
Oil Country Tubular Goods Allow for Oil Drilling That Regular Products Made Using Conventional Manufacturing Processes Cannot Allow
Onshore and offshore oil drilling is challenging and complex. Equipment must be able to withstand extreme environmental pressures when performing these activities. As a result, most products used for oil drilling must be built separately. They cannot use conventional manufacturing processes. Otherwise, those products would falter under such conditions.
OCTG equipment is made using specific techniques and heat treatments. It also involves alloying to ensure the equipment is durable enough to perform critical tasks in oilfields.
Oil Country Tubular Goods Are Highly Resistant to Corrosion
Oil country tubular goods are also renowned for being highly resistant to corrosion. Corrosion causes metals to deteriorate, especially without steps taken to prevent it. Materials like polymer alloys, thermoplastics, and resins are commonly found in OCTG equipment because they prevent corrosion.
Oil Country Tubular Goods are Durable
Durability is important in drilling activities. OCTG equipment, especially casing, is extremely durable and can withstand significant axial tension because of its dead weight. Moreover, this casing can also withstand internal and external fluid pressure, making it necessary for drilling activities.
Oil Country Tubular Goods Feature Exceptional Production
Oil country tubular goods also feature exceptional production. They’re engineered to survive drilling’s high torque, axial tension, and internal liquid pressure without cracking. They’re designed and manufactured seamlessly.
Get Premium Quality OCTG and Oilfield Service Equipment from CNPS
CNPS is a complete energy solutions provider. We launched in 2008, offering OCTG pipes and bar products and solutions. Since then, we’ve grown to become a leading energy solutions provider. Our offerings include renewable and sustainable energy solutions, oilfield service equipment, electronic product solutions, mud logging equipment, etc.
Visit our website for more information. Alternatively, contact us to get started.
