Global Well Intervention Industry Survey Forecast to 2019

Topics: Weatherford International, Schlumberger, Baker Hughes Pages: 4 (698 words) Published: September 5, 2014
Well Intervention Market by Service Types (Logging & Bottom Hole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift, Others), Application Areas (Onshore & Offshore), and Geography – Global Trends & Forecast to 2019

This report estimates the well intervention services market in terms of value in $million. This has been broken down into component regions and further split into countries.

Well intervention services are required throughout the lifecycle of an oil and gas well. The ever increasing exploration and production activities across the globe and new areas of unconventional resources are the main drivers for the growth of the well intervention services market. However, issues associated with the environment, and increased seismic activities have slowed down the growth of this market.

The growth of well intervention market is directly proportional to the revival activities of the existing mature oilfields. On the basis of various factors such as geological condition, type of reservoir,and others, different types of well intervention services are required to assist the production activities.

The growth in production activities is attributed to the continuous increase in world energy demand. These activities are expected to grow further as the world energy demand from oil would reach around 4 GTOE by 2020. This rise in energy demand has resulted in increased drilling and completion activities in all parts of the world. This has also put pressure to extract more from each esistingwell and thus, further enhanced production activities are performed. This increase in production and completion activity increases the requirement of well intervention services.

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