Rigless Intervention

The well intervention services are used for the remedial operations like well logging, well cleaning, fluid displacement, perforating, fishing, thru-tubing sand control, remedial cementing, selective simulation, artificial lift services, re-entry drilling services, and surface controlled subsurface safety valve repair. The Rigless Intervention Systems is also utilized for a variety of other functions such as pulling tubing strings and in production risers. The prime objective of the well intervention services is to maintain or to increase the production of the crude from the well during its production life. Traditionally, workover rigs were used to perform these operations, but due to the efficient and the cost effective services the rig-less intervention services are fast replacing the conventional rigs. The rig-less intervention services comprises of the systems like coiled tubing, wireline, and hydraulic workover units.
The global Rigless Intervention Services Market size is estimated to be more than $5 billion in 2014 and is expected to grow at an impressive CAGR of over 10% till 2019. The major factors responsible for driving the growth of this market include the energy demand growth across the globe, increase in the deep water activities, and the efficient and the cost effective intervention technology provided by the rig-less vessels as compared to the conventional rig. The emerging economies like Africa and Latin America show a commendable growth in the intervention market.
The rig-less intervention services have further advantage of the time saving as these rigs are designed to be erected without much cutting and welding activities. These services are finding their applications in the subsea environment as well. The rig-less intervention services market can be broadly segmented as offshore and onshore. The increasing exploration activities in the deep water will boost the offshore rig-less intervention services market. According to the research the demand for rig-less intervention vessels will increase by 77% to 5,443 days by 2016. While analyzing the region, Latin America and African region are found out to be the most attractive markets, reason for which can be attributed to the surge in number of offshore exploration & production activities.
The market is also studied on the basis of type of the services like coiled tubing, wireline, and hydraulic workover units. The major players dealing in Rigless Intervention Systems include Baker Hughes, Schlumberger Limited, Weatherford International and Halliburton among others which are profiled in the report.

Rig-less Intervention Services Market Size ($million), 2013

Related research publications and MarketsandMarkets Analysis

The report analyzes the rig-less intervention services market for different regions. The report also provides a market overview of rig-less intervention services by different applications like onshore and offshore. Among these applications, offshore is the most trending one.
For this report, the major players in the market are identified through secondary and primary research, based on which their market shares are evaluated. This includes a study of the annual reports of top market players and interviews with key opinion leaders such as the CEOs, directors, and marketing executives. The market sizes for various types of rig-less intervention service providers are determined and evaluated using primary and secondary research. The market data is available from 2012 to 2019 with a CAGR from 2014 to 2019.