Well intervention services are often termed as Services that extend the life of producing wells by improving performance or providing access to stranded or additional hydrocarbon reserves. The well intervention or work over market is primarily affected by increasing oil and demand and ageing assets. By the end of 2013, there are 7,299 trillion cubic feet of natural gas resources and 345 billion barrels of oil resources available within the shale formations across the world.
The expectation has always been that increasing demand for oil over the next 15 to 20 years would be met by OPEC, but the shale boom is rapidly changing the competitive advantage that the Gulf has had for so long and with it the political equations. As the deep water production is increasing, subsea well count is also growing. The demand and frequency of required servicing through intervention grows along with the assets age.
There are many assets which are more than 5-10 years old, so require maintenance and service. This makes the well intervention market fancy a huge market potential.The companies are forced to invest huge amounts on recovering more oil and gas, especially companies operating in offshore segment, as a result of decreasing reserves are opened up a decent market potential for well intervention companies. The growing demand for energy could also be another factor driving this industry. The increasing energy demand making the companies invests to find out more resources thus making well intervention vital. There is also a decent market potential for vessels capable of intervening on subsea wells, because of the growing deepwaterdevelopments.
What the Report Offers
1) Market Definition for the specified topic along with identification of key drivers and restraints for the market.
2) Market analysis for the subsea well intervention Market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5) Identification and analysis of the Macro and Micro factors that affect the subsea well intervention market on both global and regional scale.
6) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.