- The key vendors in the global well intervention services market 2015-2019 are Aker Solutions ASA, Halliburton, Schlumberger Ltd., Superior Energy Services and Weatherford International
London, 18 June 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the global well intervention services market 2015-2019. Exploitation of unconventional resources is one of the major trends upcoming in the market. These resources comprise shale gas, tight oil, oil sands, and coalbed methane. Major players such as Halliburton and Schlumberger are focusing on technological advances that facilitate the exploitation of shale gas and oil reserves to extract the required resources. The global well intervention services market is estimated to grow at a CAGR of 4% during the forecast period of 2014-2019.
The market is mainly driven by the demand for recovery services of existing and aging brown oilfields. This is accompanied by oilfield developments in deep water that require a wide range of intervention services. Oil and gas companies are recognizing the growing energy demand and the increasing depletion of oilfields and using well intervention techniques to revive the oil and gas fields.
“Newer and improved drilling methods are being employed to extract more from the available oil reserves,” says Faisal Ghaus, Vice President of Technavio Research.
“With the increase in the number of rigs that employ complex drilling techniques, the demand in the global well intervention services market will increase in the coming years.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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