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Well Intervention Market In-Depth Analysis 2024 by Global Players Expro, Helix Energy Solutions Group, Oceaneering, Welltec, Weatherford, Altus Intervention

02-13-2019 07:37 PM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Well Intervention Market

Well Intervention Market

The U.S. market is set to exceed USD 3 billion by 2024. Growing existence of low-pressure oil wells along with continuous increase in energy consumption will propel the industry growth. In addition, the increasing number of matured oil fields along with growing focus toward shale reserves will complement the business landscape. According to BP statistical Review, the oil consumption across the U.S. was 12,336 million barrels per day in 2016 which increased to 13,057 million barrels per day in 2017.

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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.

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.

As oil companies continue to focus on cost-reduction and heavy revenue returns, the requirement for well intervention service will increase remarkably over the years ahead. Moreover, the involvement of intervention service providers in the development of flexible and unique products to accelerate productive oil recovery will also stimulate the industry growth. For the record, overall well intervention market size will grow at a CAGR of 6% over 2018-2024.

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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.

Well Intervention Market Industry Insights:
1. Industry segmentation
2. Industry landscape, 2013 - 2024
3. Industry ecosystem analysis
4. Innovation & sustainability
5. Regulatory landscape
6. Customer group requirement
7. Oil & Gas investments trends & outlook
8. Global exploration & production trends
9. Global consumption trends, by product
10. Global oil & gas consumption trends, by region

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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