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Well Intervention Market Size 2020 Business Opportunities and Strategic Assessment till 20

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The other factors driving the growth of the market are the increase in production of oil & gas and regeneration of aging fields/wells. However, the growth of the market is restrained by factors such as strict rules and regulations and the increasing focus on renewable energy.

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Well Intervention Market Size 2020 Business Opportunities and Strategic Assessment till 20

  1. 1. P a g e | 1 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Global Well Intervention Market Research Report: Forecast to 2023
  2. 2. P a g e | 2 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 VIEW REPORT PRESS RELEASE SAMPLE REPORT
  3. 3. P a g e | 3 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Summary The well intervention market is anticipated to garner a CAGR of 3.5% during the forecast period (2017- 2023), Market Research Future (MRFR) unveils in a detailed report. Well intervention is the operation which is being carried out during the life of an oil well. These operations are generally carried out to improve the production as well as for the maintenance of the well. Market Drivers and Restraints: The rapid rise in global population and increased production and usage of automobiles are inducing high demand for non-renewable energy sources such as fossil fuels, which is acting as a major driver for the expansion of the global well intervention market. The vital role of well intervention services in drilling operation that includes monitoring the pressure and temperature in the reservoir, transportation of fluids to and fro the reservoirs and others are inducing the demand for high quality well intervention services owing to the increase in oil and gas exploration activities and production process. The major benefits of well intervention services such as cleaning up of wells, stimulation of well for making it production ready by enhancing the flow of hydrocarbons in it, monitoring all the on-going operations in the wells, providing annular seal for isolating certain sections of the well and others make these services an essential component of the oil and gas exploration and production process, which is fueling the growth of the global well intervention market. The increased exploration and production activities in oil and natural gas industry are simultaneously leading to the expansion of the global well intervention market during the forecast period. However, the strict regulatory framework for exploration and production of oil and natural gas in various regions is likely to hamper the growth of the global well intervention market during the forecast period. Competitive Landscape The top players dominating the global well intervention market include Halliburton Company (U.S.), GE Oil & Gas (U.K.), TechnipFMC plc. (U.K.), Schlumberger Limited (U.S.), Weatherford International Plc. (Switzerland), Baker Hughes Incorporated (U.S.), Trican Well Service Ltd. (Canada), Archer Limited (U.K.), Basic Energy Services, Inc. (U.S.), Superior Energy Services, Inc. (U.S.), and others.
  4. 4. P a g e | 4 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Market Segmentation The global well intervention market is segmented on the basis of service and application. By service, the well intervention market is segmented into stimulation, logging and bottom hole survey, re-perforation, artificial lift, and others. Among these, logging and bottom hole survey is likely to gain prominence due to high production of oil and gas from shale reserves and shale gas revolution. With the growing production of an unconventional resource shale in Asia Pacific and America, logging and bottom hole survey has gained importance. By application, the well intervention market is segmented into onshore and offshore. Among these, the offshore application is likely to expand at the fastest rate due to the surging demand for well intervention services on the offshore oil rigs. The rising deep-water drilling, along with the production activities and the growing number of maturing subsea wells are contributing to the growth of the offshore application segment.
  5. 5. P a g e | 5 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 Regional Analysis Geographically, the well intervention market spans across the Asia Pacific, North America, Europe, and Rest of the World (RoW). Considering the global scenario, North America occupies the largest share in the well intervention market due to the ongoing shale gas revolution prevailing in the region. The regional market’s course is also directed by factors such as the increased production activities in this region. The surging production of crude oil, along with the increased production rate of natural gas is estimated to be primary growth factors for well intervention in the region. The Asia Pacific is considered an emerging regional market in well intervention due to the surging use of intervention services in oil and shale services. The increased production and exploration activities due to increased demand for energy, especially from Indonesia, India, and China is further accelerating the growth of the market. Industry Updates: June 2019: An affiliate of Edison Chouest Offshore, C-Innovation, has recently secured a contract from BP. The contract aims towards performing riser less light well intervention (RLWI) in the region of the Gulf of Mexico. The offshore work includes both hydraulic and mechanical acid simulation. OWI MENA 2018 has arranged a workshop in Abu Dhabi on 9th and 10th October 2018 which will be joined by ADNOC, PDO, Petropars, Dragon Oil, SNOC and other regional operators along with 150+ well intervention experts to discuss their well intervention strategies in order to increase efficiencies and reduce the cost of on-shore as well as off-shore projects.
  6. 6. P a g e | 6 Copyright © 2017 Market Research Future. Global Non-Volatile Memory Market Research Report: Forecast to 2023 owned company based in Norway that has developed a field-proven portfolio of completion systems and intervention tools.

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