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Well Intervention Market to Witness Huge Growth by 2024| Expro, Helix Energy Solutions Group, Altus Intervention, Oceaneering, Welltec, Weatherford, Cudd Energy Services

01-28-2019 07:41 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Well Intervention Market

Well Intervention Market

Well Intervention Market is predicted to reach over USD 18 billion by 2024. Growing concerns toward depletion of existing reserves along with increasing number of matured oil fields will propel the well intervention market. Escalating urban population across the emerging economies coupled with upsurge in demand for refined petroleum products will stimulate the industry growth. Rapid technological advancement across the complete spectrum of oil & gas services will further accelerate the technology adoption.

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Expansion of subsea production platforms along with favorable regulatory policies toward development of deep & ultra-deep drilling activities will drive the offshore well intervention market. In addition, the large volume of available reserves across the subsea areas in Persian Gulf and NSC area will complement the business growth.

Indonesia well intervention market is set to exceed USD 350 Million by 2024. Growing need for revitalizing of aging fields owing to increasing consumption for crude oil will propel the industry outlook. The changing regulatory scenario coupled with introduction of favorable regulatory policies will positively impact the technology adoption. In addition, ongoing investments toward the development of advanced technological solutions to improve the production from aging fields will stimulate the industry growth.

High well intervention market is set to witness a gain of over 7% by 2024. Upsurge in investments toward E & P activities across the subsea areas will complement the industry growth. The high intervention technology is primarily used to replace parts including valves, pumps and tubing from the wells and to abandon the wells that are not viable for production.

Well Intervention Market By Intervention, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 – 2024 in detail along with the table of contents@ https://www.gminsights.com/industry-analysis/well-intervention-market

Increasing number of marginal wells coupled with rising demand for oil will drive the artificial lift system market. Ease of drilling across offshore areas, reliability and limited risk exposure are some of the prominent features which will boost the technology adoption. In addition, the rising focus pertaining to the development of unconventional wells along with favorable government policies to enhance crude oil production will propel the well intervention market share.

Increasing investments by NSC toward shale basins along with across the Middle East, the U.S. and China will boost the remedial cementing segment. The service is primarily used to rectify issues related to cementing and caused during production activities. In addition, the service also involves the usage of cement plugs & squeeze cementing that prevents the mixing of cement with other fluids.

Increasing exploration and production activities across the offshore areas including Norwegian Continental Shelf (NSC) will drive the Norway well intervention market. Favorable regulatory policies pertaining to offshore production along with government focus toward development of aging fields will propel the industry growth.

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Key industry players operating across the well intervention market includes

• Cudd Energy Services
• National Oilwell Varco
• Superior Energy Services
• Trican Well Service Ltd.
• Omega Well Intervention Ltd
• Expro
• Helix Energy Solutions Group
• Altus Intervention
• Oceaneering
• Welltec
• Weatherford

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://global4energy.com/

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