Recent years have seen a rise in exploration and production (E&P) activities in the oil and gas sector, especially in countries such as China, Saudi Arabia, U.S., Canada, and Russia. Vast unexplored hydrocarbon enriched reserves in on- and off-shore basins, supported by various economies in the industry can fuel the well intervention market. Deep sea and ultra-deep sea exploration in various parts of the world can also support market growth.
U.S.-based Schlumberger Limited provides an array of well intervention services to prolong the life span of wells while improving their performance. One such tool used extensively is “coiled tubing” or CT tools and services for cementing, cleanout, drilling, nitrogen kickoff, sand control, well circulation, and mechanical isolation. CT and other downhole tools transmit crucial data and measurements in real time. They provide operators with information such as depth correlation, temperature, and pressure.
The company has come up with an innovative method for selective plug setting and perforating in its new “Schlumberger ACTive OptiFIRE CT”. The system is a part of a platform of live CT service. It provides other benefits such as accurate correlation of depth between each detonation by using fiber-optic telemetry send and receive signals. In a single CT run, this new technology can reach the target in a more economical, safer, and efficient medium.
By using fiber-optics telemetry to transmit signals, the need for pump fluids to commence detonation is eliminated. It allows operators to perforate and prevent displacing fractures while running plug-setting tools. It also enables the retention of underbalanced conditions and reduction of formation damage. The ACTive OptiFIRE CT does not require a pressure-pulse device to detonate and can be employed with an array of perforating guns. In a single run, it can fire multiple guns going up to nearly 10 zones at varied depths. This helps overcome traditional CT perforation, which required multiple runs and compromised safety.
The global well intervention market is projected to grow at a CAGR of 4.2% during the forecast period (2014 to 2025). It is anticipated to reach USD 17.76 billion by 2025. Increasing demand for energy and rising disposable income can be attributed to this growth.
Archer Limited, Baker Hughes, Halliburton, and Schlumberger Limited are some of the key players in this market. These companies participate in mergers and acquisitions and joint ventures to gain an edge over competitors and strengthen their product portfolio.
In-Depth research report on Well Intervention Market: http://www.grandviewresearch.com/industry-analysis/well-intervention-market
No comments:
Post a Comment