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Impact of COVID-19 on Well Testing Services Market : Implications on Business

08-06-2020 11:42 AM CET | Energy & Environment

Press release from: TMR

Well Testing Services Market

Well Testing Services Market

The global well testing services market was valued at approximately US$ 6 Bn in 2017 and is anticipated to expand at a CAGR of more than 6% from 2018 to 2026, according to a new report titled ‘Well Testing Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026’ by Transparency Market Research (TMR). Rising expenditure on offshore E&P activities is expected to propel the demand for well testing services across the globe.

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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

Downhole
Real Time
Reservoir Sampling
Surface Well Testing Services
Subsea Services
Others

Global Well Testing Services Market, by Application

Onshore
Offshore

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Website: http://www.transparencymarketresearch.com

About Us:

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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