Global Well Intervention Services Markets 2017-2021

DUBLIN, November 2, 2017 /PRNewswire/ --

The "Global Well Intervention Services Market 2017-2021" report has been added to Research and Markets' offering.

The global well intervention services market to grow at a CAGR of 4.26% during the period 2017-2021.

Global Well Intervention Services Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

According to the report, one driver in the market is growth of drilling activities in unconventional areas. Unconventional oil and gas resources include shale gas, coal bed methane, gas hydrates, tight oil, oil sands, and others. These resources are costly to produce and tough to exploit. Technological advances and operational efficiencies have driven cost reductions, thus spurring the exploitation of unconventional resources. In the US, the shale gas boom saw the rise of unconventionally produced natural gas supplies. The huge discovery of oil sands in Canada have shown the unlimited opportunities for oil exploration.

One trend in the market is technological advances in well intervention techniques. Technology is rapidly evolving in the oil and gas industry. New innovations are flowing into the industry to ensure greater recovery from oil and gas reserves. These innovations also cover the well intervention process.

Further, the report states that one challenge in the market is decline in investments in upstream sector. As per the International Energy Agency (IEA), the upstream oil and gas industry witnessed a 44% decline in investments during 2014-2016, owing to the cost reductions by various upstream companies worldwide after the fall in global crude oil prices. As per the US EIA, crude oil prices, which were over $117.80/bbl. in June 2014, saw a quick decline to $47.76/bbl. in January 2015, in a span of just seven months. Crude oil prices continued to fall to $30.70/bbl. in January 2016 and were around $51.70/bbl. in August 2017. This has significantly affected the profitability of upstream oil and gas companies.

Key Market Trends

• Technological advances in well intervention techniques
• New-generation, automated drilling rigs
• Laser drilling in oil and gas sector
• Supercritical carbon dioxide in shale gas fracking

Key vendors

• Baker Hughes
• Halliburton
• National Oilwell Varco
• Schlumberger
• Weatherford

Other prominent vendors

• EQT (previously Aker Solutions)
• AKOFS OFFSHORE
• ALTUS INTERVENTION
• Archer
• Axis Well Technology
• BlueSparkEnergy
• Danum Well Services
• DeepWell
• Expro Group
• Gulf Intervention Services DMCC
• Hunting
• Kinetic Services
• Nabors Industries
• Nordic Well Services
• Oceaneering International
• TechnipFMC
• Wild Well Control
• WISE Intervention Services

Key Topics Covered:

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Introduction

Part 05: Market Landscape

Part 06: Market Segmentation By Application

Part 07: Market Segmentation By Service Type

Part 08: Geographical Segmentation

Part 09: Decision Framework

Part 10: Drivers And Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Key Vendor Analysis

Part 14: Appendix

For more information about this report visit https://www.researchandmarkets.com/research/89dsxw/global_well

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