The global reservoir analysis market, by value, is projected to grow at a CAGR of 4.11%, from 2017 to 2022. The market in North America is estimated to be the largest market for reservoir analysis, followed closely by Asia-Pacific. The North American market is also projected to be the fastest growing market during the forecast period. The growth of the reservoir analysis market is driven by the development of unconventional resources.
The reservoir analysis market is served by a mix of large international players with their presence and capabilities across different regions and local players with a strong presence in their domestic markets. The key players operating in the market include Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S.), Weatherford International, PLC (Switzerland), and SGS S.A. (Switzerland) among others.
Strategies adopted by players in the reservoir analysis market include, new product and technology launches, contracts & agreements, mergers & acquisitions, expansions, partnerships, collaborations, alliances, and joint ventures. New product and technology launches was the most commonly adopted strategy from 2013 to June 2017, as companies looked to strengthen their service offerings. Industry players also adopted contracts & agreements and mergers & acquisitions, which were the second and third most widely followed strategies, respectively, during the same period.
Schlumberger Limited (U.S.), Halliburton Company (U.S.), CGG SA (France), and Roxar Software Solutions AS (Norway) were among the leading players in the reservoir analysis market, in terms of development share.
Schlumberger Limited (U.S.) is one of the leading providers of products, services, technology, information solutions, and integrated project management solutions for the global oil & gas exploration and production industry. The company manages its business through three groups, namely, reservoir characterization, drilling, and production. It provides reservoir analysis services and solutions such as reservoir laboratory services, ECLIPSE industry-reference simulator, INTERSECT high-resolution reservoir simulator, reservoir sampling, and other analysis solutions under its reservoir characterization segment. The reservoir segment also consists of services such as E&P flow rate and pressure measurement services and reservoir monitoring, imaging, and development services. In September 2016, the company introduced Geotest geology as a new well test design and interpretation software. This new software would be a part of the Petrel Exploration and Production (E&P) platform, which enables companies to standardize workflows from exploration to production.
Halliburton Company (U.S.) is one of the leading service providers and product suppliers in the upstream sector of the oil & gas industry. The company provides 14 Product Service Lines (PSLs) under two main divisions, namely, drilling and evaluation and completion and production. The company provides consulting and project management study services for both divisions. The company has operations in 70 counties, globally, which it groups as North America, South America, Europe/Africa/the Commonwealth of Independent States (CIS), and the Middle East/Asia. In June 2014, the company launched CYPHER 2.0 Seismic-to-Stimulation service that links better drilling and completion to improve the prediction and production of unconventional reserves.
Reservoir Analysis Market by Service (Geo Modeling, & Reservoir Simulation, Data Acquisition & Monitoring, and Reservoir Sampling), Application (Onshore & Offshore), Reservoir Type (Conventional & Unconventional), and Region - Global Forecast to 2022
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