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Boston, MA -- (SBWIRE) -- 07/05/2013 -- 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 2018
The report covers the global well intervention services market which includes different types of well intervention services, their application areas, and other related segments. It studies the extent of end use of well intervention services in different application areas with respect to different regions. The report gives insights about the tools and technologies being used. It also analyses the market with respect to drivers, opportunities, and winning imperatives related to the industry.
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The qualitative analyses of well intervention/workover services with respect to its concept, tools and equipment used, technical knowhow, innovations, various types, and application areas are done in an elaborative manner. It mainly highlights the services such as logging & bottom hole surveys, tubing/packer failure & repair, stimulation jobs, remedial cementing, zonal isolations operations, sand control services, artificial lift services, fishing, re-perforation; and application areas such as onshore and offshore. The well intervention services are gaining worldwide importance as the existing oil and gas reservoirs are nearing the non-replaceable depletion stage. Furthermore, the increasing need of energy is also triggering the oil and gas field operators to increase the recovery factor of hydrocarbons. The demand of well intervention/workover services is driven due to its ability to help enhance the oil and gas production from aging brown fields.
The continuous depletion of existing oil reserves are forcing oilfield E&P companies to operate in offshore environments making it a huge potential market for well intervention services. Pressure of growing energy demand is another factor to draw well intervention services in focus. According to BP statistical report, the worlds energy demand increased by 2.5% in 2011. To satisfy this increasing demand of oil and gas, oil companies are seeking to unlock the full potential of wells. Hence, new advanced well-intervention equipment and technologies are vital. In order to sustain production, it becomes increasingly viable and important to maintain wells and extract the maximum amount of resources. As existing reserves and wells are aging, well intervention services become very essential for production revival operations.
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