Well intervention involves operations carried out on the gas or oil well to improve its lifespan and performance. Some of the operations performed in well intervention process are blowout recovery operations, milling inside tubing, and deploying perforating guns. It plays a crucial role in restore changing reservoir conditions, gain quick access to subsea wells, and pump chemicals at the bottom of a well. The performance of well is improved by elimination of well blockages, pulling production strings, and replacement of worn out parts.
Increase in energy demand and revitalization of aging brown field wells are factors propelling the growth of the Asia-Pacific well intervention services market. However, high environmental risks and stringent government regulations are obstructing the growth of the market. Demand for well intervention in subsea would create better opportunities in the market.
The Asia-Pacific well intervention services market is segmented based on service type, applications, and countries. The Service type segment is further classified into logging & bottom hole survey, tubing/packer failure & repair, stimulation, artificial lift, and others. The market is further divided based on applications into onshore and offshore. The countries such as China, Australia, India, Indonesia, Malaysia, and others are expected to experience tremendous growth.
The prominent companies operating in the market are Weatherford International PLC, Schlumberger Ltd., Halliburton Co., FMC Technologies, Nabors Industries Limited, Archer Limited, Expro International Group Holdings Ltd., Baker Hughes Inc., and Aker Solutions ASA. They have adopted strategies, such as new product launches, expansions, agreements, partnerships, joint ventures, collaborations, and others to gain stronghold of the market.
KEY BENEFITS FOR STAKEHOLDERS:
KEY MARKET SEGMENTS:
The Asia-Pacific Well Intervention Services Market – By Service Type
Logging & Bottom Hole Survey
Tubing/Packer Failure & Repair
The Asia-Pacific Well Intervention Services Market – By Application
The Asia-Pacific Well Intervention Services Market – By Country
KEY MARKET PLAYERS:
Weatherford International PLC
Baker Hughes Inc.
Nabors Industries Limited
Expro International Group Holdings Ltd.
Aker Solutions ASA