WELL INTERVENTION MARKET ANALYSIS

Name: Well Intervention Market News
Creator: Coherent Market Insights
License: https://www.coherentmarketinsights.com/privacy-policy

Well Intervention Market, by Service (Wellhead and Christmas Tree Maintenance, Logging and Bottomhole Survey, Coiled Tubing and Others), by Application (Onshore and Offshore), by Category (Light Intervention and Heavy Intervention) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2022-2028

Well Intervention Market Key Developments:

In January 2017, Schlumberger Ltd., which provides solutions for reservoir characterization, drilling, production, and processing to the oil and gas industry, acquired Peak Well Systems. Peak is a market leader in the design and development of advanced downhole tools for flow control, well intervention and well integrity. Therefore, this acquisition is expected to strengthen Schlumberger’s portfolio of well intervention systems.
In May 2019, Unity, a company engaged in providing well integrity technology, services and engineering solutions, launched the industry’s first multi-functional, near-surface intervention system. This system is simple to operate, compact to ship and fast to deploy. Moreover, the system is expected to offer cost savings of up to 75% when it is used as an alternative to conventional equipment.
In July 2019, an oilfield services company, Expro Group acquired 100% of the equity of well intervention technology company Quality Intervention. Quality Intervention is a Norwegian-based company which provides coiled tubing technology, annular integrity technology, and wellhead remediation tooling. This acquisition is expected to extend Expro’s well intervention capabilities.