Impact of COVID-19 on Well Testing Services Market : Implications on Business
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Subsea services to remain a dominant type segment during the forecast period
Among types, the subsea services segment constituted more than 25% share of the global well testing services market in 2017. Subsea services involve a complete package of equipment installation, jointing, personnel, and maintenance. Subsea services include installation services, asset management services, inspection maintenance and repair (IMR), and production optimization services, which are related to subsea oil & gas assets. Subsea landing strings are widely used for offshore well testing operations. They are employed to reduce the risk associated with the use of tools designed for ultra-deep-water, high-pressure and extreme-temperature reservoir testing.
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Stringent EPA regulations and weakening prices of crude oil to impact the market
The U.S. EPA promulgated the ‘Oil & Gas Extraction Effluent Guidelines & Standards (40 CFR Part 435)’ in 1979. It amended these regulations in 1993, 1996, 2001, and 2017. The regulations cover wastewater discharge from field exploration, drilling, production, well treatment, and well completion activities. These activities take place on land, coastal areas, and off the shore. The EPA established pre-treatment standards under Sub-part C in 2017. These standards prohibit discharge of wastewater pollutants from onshore unconventional oil & gas (UOG) extraction facilities to publicly owned treatment works.
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The global well testing services market is highly competitive. The market is highly fragmented with the presence of a large number of local and international players in the market. Leading players dominate the market. Key players operating in the global well testing services market are Schlumberger Limited, HELIX ESG, Halliburton, Expro Group, Weatherford International Plc., SGS S.A., Tetra Technologies, Inc., TestAlta, CETCO Energy Services, Oil States International, Inc., PTS Production Technology & Services Inc., Abraj Energy Services SAOC, Emerson Automation Solutions, Integra Group, and TechnipFMC plc.
Global Well Testing Services Market, by Type
Surface Well Testing Services
Global Well Testing Services Market, by Application
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