Portland, OR -- (SBWIRE) -- 07/21/2017 -- Well intervention is an operation performed on the gas or oil well to improve its lifespan and performance. Blowout recovery operations, milling inside tubing, and deploying perforating guns are some of the operations performed in well intervention process. It is required to restore changing reservoir conditions, gain quick access to subsea wells, and pump chemicals at the bottom of a well. The elimination of well blockages, pulling production strings, and replacement of parts is carried out to improve performance of the well.
Increase in energy demand and revitalization of aging brown field wells are factors propelling the growth of the market. However, high environmental risks and stringent government regulations are factors obstructing the growth of the market. On the other hand, demand for well intervention in subsea opens up opportunities in the market.
The Asia-Pacific well intervention services market is segmented based on service type, applications, and countries. The service type segment is further classified into logging & bottom hole survey, tubing/packer failure & repair, stimulation, artificial lift, and others. The market is further divided based on applications into onshore and offshore. The countries such as China, Australia, India, Indonesia, Malaysia, and others are expected to experience tremendous growth.
The prominent companies operating in the market are Weatherford International PLC, Schlumberger Ltd., Halliburton Co., FMC Technologies, Nabors Industries Limited, Archer Limited, Expro International Group Holdings Ltd., Baker Hughes Inc., and Aker Solutions ASA. They have adopted strategies, such as new product launches, expansions, agreements, partnerships, joint ventures, collaborations, and others to gain stronghold of the market.
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ASIA-PACIFIC WELL INTERVENTION SERVICES MARKET KEY SEGMENTS:
The Asia-Pacific Well Intervention Services Market By Service Type
- Logging & Bottom Hole Survey
- Tubing/Packer Failure & Repair
- Artificial Lift
The Asia-Pacific Well Intervention Services Market By Application
The Asia-Pacific Well Intervention Services Market By Country
Key Market Player:
- Weatherford International PLC
- Schlumberger Ltd.
- Baker Hughes Inc.
- Halliburton Co.
- Nabors Industries Limited
- Archer Limited
- FMC Technologies
- Expro International Group Holdings Ltd.
- Aker Solutions ASA