Gulf of Mexico well intervention market is expected to reach $0.74 billion by 2017, up from $0.47 billion in 2013. Gulf of Mexico federal offshore oil production accounts for 23 percent of total U.S. crude oil production and federal offshore natural gas production in the Gulf accounts for 7 percent of total U.S dry production. Over 40 percent of total U.S petroleum refining capacity is located along the Gulf coast, as well as 30 percent of total U.S natural gas processing plant capacity.
High flow rate wells have driven the economics of projects and acted as a strong incentive to explore and develop deepwater leases. The use of sub-sea has also contributed to the economics of deep water projects. At the end of 2013, there are around 1474 natural gas producing wells, with most of them in deep water and they accounted for major share of the total production.
The Gulf has also seen a number of major technical and engineering achievements. These technological advances combined with government incentives led to a tremendous surge in leasing. Its future looks bright, as many new geologic trends are only now seeing the first exploratory drilling. Truly, the Gulf of Mexico will drive the new decade in terms of well intervention services.
The report provides comprehensive analysis of potential offshore reserves and production data, followed by a thorough evaluation of the well intervention market segment by region, major countries and key company information.
The report also provides a section on the competitive landscape, detailing recent deal analysis and key company information with their financials, business description and analyst view.