Well Intervention Market

Well Intervention Market Size, Trends & Forecast (2019 - 2025)

According to a recent market research report, the well intervention market is expected to be valued at nearly US $ xx billion in 2019 and to reach a CAGR of more than 4.1 % from 2019 - 2025.

• Well interventions are used to avoid unforeseen problems in oil and gas wells; clean and dispose of waste before completion; suspend production safely during storms or scheduled maintenance; carry out remediation and stimulation work to rejuvenate production; Divert existing wells to new goals; and proceed to a safe and effective closure and abandonment at the end of the life of the well.

• North America dominated the global market in 2018, and this trend is expected to continue during the forecast period 2019 - 2025.

Growth Drivers

The world is moving towards the use of renewable energy sources. However, the demand for oil and gas has not decreased. Reliable nutrition is a fundamental necessity because of the ongoing development and modernization of society. Renewable energy sources provide clean energy. However, they have not yet become reliable sources of energy because they require support in the form of well intervention. As a result, demand for well intervention is increasing, but at a slow pace compared to previous growth.

Key Challenges 

The decline in crude oil prices led to the discontinuation of several well intervention projects. This has generated investments in the renewable energy sector thanks to government support and carbon regulations. Major investments in solar and wind energy technologies have shifted the focus towards clean energy, which has hampered the expansion of well services around the world.

Opportunities

In addition, the rapid depletion of oil reserves is affecting the prospects of the global oil and gas industry. This, in turn, should offer significant opportunities for expansion into the well intervention market in the near future.

This research report includes following segmentation for the Well Intervention Market:

Well Intervention Market - By Survey

• Logging & Bottom Hole Survey
• Stimulation
• Remedial Cementing
• Zonal Isolation
• Sand Control Services
• Artificial Lift
• Fishing
• Re-Perforation
• Others

Well Intervention Market - By Application

• Onshore
• Offshore

Well Intervention Market - By Region

• North America                                                

  • United States                               
  • Canada                                         

• Europe                                                                                  

  • United Kingdom                                           
  • Germany                                      
  • France                                          
  • Italy                               
  • Spain                                             

• Asia-Pacific                                                     

  • China                                            
  • India                                             
  • Japan                                            
  • South Korea                                 

• Latin America                                                                            

  • Brazil                                            
  • Argentina                                     
  • Mexico                                          

• Middle-East & Africa                                                      

  • Middle-East
  • Africa

Regionally, North America dominated the global well intervention market in 2017 and the trend is expected to continue during the forecast period. The United States has drilled more than 14,000 wells in 2016 and is expected to explore other oil and gas wells in the future. The growing market in the United States is a complex combination of technical, financial, political and logistical factors. It is likely that increased exploitation of unconventional reserves will increase the demand for effective intervention in the near future. Among the unconventional games, the Permian Basin will certainly lead to growth in the US supply.

Some of the promising companies leading the Well Intervention Market are:

1. Schlumberger
2. Weatherford International
3. Halliburton
4. Archer Limited
5. Baker Hughes 
6. C&J Energy Services, Inc
7. Trican Well Service Ltd.
8. Superior Energy Services Inc
9. Cudd Energy Services
10. Calfrac Well Services Ltd