Well Intervention Market

Halliburton (US) and Schlumberger (US) are Leading Company in the Well Intervention Market

The well intervention market is expected to grow from an estimated USD 8.8 billion in 2019 to USD 11.6 billion by 2024, at a CAGR of 5.7% during the forecast period. With the growing demand for primary energy and the rapid rate of maturing of oil & gas fields, there are high growth prospects for well intervention market during the forecast period.

A few major players that have a wide regional presence dominate the well intervention market. The leading players in the well intervention market include Halliburton (US), Schlumberger (US), BHGE (US), Weatherford (US), and NOV (US).

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The major strategies adopted by these players include new product launches, investments & expansions, mergers & acquisitions, joint ventures, partnerships & collaborations, and contracts & agreements. Contracts & agreements were the most commonly adopted strategy from January 2016 to June 2019. These industry players also adopted mergers & acquisitions and investments & expansions as their major strategies during that period.

Halliburton (US) established in 1919, 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. It provides consulting and project management study services for both divisions. It offers an artificial lift, cementing, completion tools, multi-chem, production enhancements, and solutions under the completion and production division, while wireline and perforating services are provided under the drilling and evaluation division. The company has operations in more than 80 countries globally, which it groups as North America, South America, Europe/Africa/the Commonwealth of Independent States (CIS), and the Middle East/Asia. The company has manufacturing facilities in the US, China, Singapore, Canada, Malaysia, and the UK. The major technology centers, R&D laboratories, and corporate offices for its completion and production segment are located in Arbroath (UK), Johor Bahru (Malaysia), and Lafayette (US). The major technology centers, R&D laboratories, and corporate offices for the drilling and evaluation segment are located in Alvarado, Texas (US), Nisku (Canada), and The Woodlands, Texas (US).

Schlumberger (US), founded in 1926, 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. Schlumberger offers products, services, technology, information solutions, and integrated project management solutions to the worldwide oil & gas exploration & production industry. The company’s primary business activities include research & engineering, manufacturing, operations, maintenance, and resource planning. The company manages its business through four segments, namely, reservoir characterization, drilling, production, and Cameron. It offers wireline and testing services under the reservoir characterization segment. It provides well services for intervention, artificial lift, and completion equipment and services under the production segment. It also provides tools and equipment on a rental basis. The company has executive offices in Paris, Houston, London, and The Hague. It has 80 fast-track facilities across the globe and conducts business in more than 85 countries in all continents.

Related Reports:

Well Intervention Market by Service (Logging & Bottomhole Survey, Tubing/Packer Failure & Repair, Stimulation, Artificial Lift), Type (Light, Medium, Heavy) Application (Onshore, Offshore) Well (Horizontal, Vertical) Region - Global Forecast to 2024

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Report Code
EP 3333
RI Published ON
7/5/2019
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