Well Intervention Market Analysis and Growth By Top Players - Schlumberger Limited, Baker Hughes Incorporate, Weatherford International Ltd., Trican Well Service Ltd., Superior Energy Services Inc., Halliburton Company, National Oilwell Varco Inc.

Well intervention refers to any operation that is carried out during the productive life of an oil and gas well. Depletion in oil reserves backed by increasing demand for energy is leading to improved production activities to extend the life of the well. Reduction in well pressure, sand production, flow restriction of oil, mechanical failure, change in reservoir condition, scaling and numerous other oil, and gas field issues results in the need to perform well intervention operations, which in turn is driving growth of the well intervention market.

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Companies are focusing on developing new technologies to facilitate well intervention operations. For instance, in 2017, C6 Technologies, an oilfield technology company, launched ComTrac system, which can be operated onshore as well as offshore, consisting of injector unit, control unit, internal electrical conductors, and a head that provides well pressure control.

Light intervention segment held the largest market share in the global well intervention market in 2016. Light intervention are done using slickline, wireline and coiled tubing unit allowing the operator to gather downhole data or to adjust or change any downhole equipment. These operations provide increased oil recovery and safety and hence, proves to be largest segment in the global well intervention market.

Global Well Intervention Market Outlook

North America held the largest market share in well intervention market in 2016. Increasing onshore exploration and production activities with shale gas boom has drastically driven growth of the well intervention market in this region. Moreover, increasing offshore oil and gas production activities in Gulf of Mexico and the presence of major players in the U.S. such as Halliburton Co., Baker Hughes Incorporated, Basic Energy Services, Inc., Schlumberger Limited and others, has further driven the well intervention market in North America. In 2017, Anadarko Petroleum Corporation planned to spend around US$ 1.1 billion on its Gulf of Mexico assets. Moreover, in 2016, Schlumberger Ltd acquired coiled tubing units and coiled tubing drilling from Xtreme Drilling Corp, which further boosted growth of the well intervention market in this region.

Global Well Intervention Market Taxonomy

Global Well Intervention market is segmented on the basis of service, application, and category:

By Service:

Wellhead and Christmas Tree Maintenance
Logging and Bottomhole Survey
Coiled Tubing
Tubing/packer failure and repair
Well Control
Remedial Cementation
Zonal Isolation
Recompletion
Fishing services
Sand Control Services
Stimulation
Artificial Lift
Reperforation
Others

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Key players in Global Well Intervention Market -

The major players in well intervention market are Schlumberger Limited, Baker Hughes Incorporate, Weatherford International Ltd., Trican Well Service Ltd., Superior Energy Services Inc., Halliburton Company, National Oilwell Varco Inc., and Precision Drilling Corporation.

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