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Global Non-Volatile Memory Market Research Report: Forecast to 2023
Global Well Intervention
Market Research Report:
Forecast to 2023
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Global Non-Volatile Memory Market Research Report: Forecast to 2023
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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.
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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.
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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.
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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.
