WELL INTERVENTION MARKET ANALYSIS

Market Challenges And Opportunities

Increasing energy demand, increase in production activities of oil and gas wells and establishment of new oil and gas wells are giving rise to well intervention activities in the existing and new wells, thereby, driving this market, globally. However, harsh downhole environments such as high pressure and temperature, increasing water depths and the increase in the number exotic trajectories or well profiles pose are the major challenges in growth of well intervention market worldwide. Moreover, slump in oil price from US$ 117.80/bbl in June 2014 to US$ 51.70/bbl in August 2017 has affected the production activities of major players and further the global well intervention market.