What is Well Test Market Scope?
Well testing is a method of capturing data from a well over time to analyse the well behaviour in real time. A well test obtains data on the hydrocarbons properties such as reservoir temperature and pressure, drainage area and shape, and water-to-oil and gas-to-oil ratios. In order to acquire the most precise data, different production rates are verified in order to observe any changes in behaviour. The main objective of well testing is to identify the volume of tanks to produce hydrocarbons like natural gas and oil. The data gathered during well testing includes pressure and the volumetric flow rate observed in a particular well.
The Well Test market study is being classified by Type (Pressure Build-Up Test, Injection/Fall-Off Test (IFOT), Multi-Rate Test, Multiple Well and Closed Chamber), by Application (Onshore and Offshore) and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global Well Test market throughout the predicted period.
Schlumberger Limited (United States), Salym Petroleum Development N. V (Russia), Halliburton (United States), Baker Hughes (United States), SGS S.A. (Switzerland), Weatherford International (United States), Petrofac (United Kingdom), Oil States Industries (United States), China Oilfield Services Ltd (China), FOS Energy LLC (Oman), Himech Equipments pvt. Ltd. (India), Expro International Group Ltd. (United Kingdom) and Greene’s Energy Group (United States) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are MB Petroleum Services LLC (Oman) and Sparklet Engineers Group (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Well Test market by Type, Application and Region.
On the basis of geography, the market of Well Test has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On December 11, 2019 - Petrofac’s Engineering and Production Services division (“EPS”) has signed a well management contract under Maersk Drilling’s master alliance agreement with Seapulse Ltd, a global exploration company. Petrofac has been appointed by Maersk to deliver well management services, including project and supply chain management support for shallow water and deepwater wells throughout the duration of the programme.
As per California Code of Regulations – Within 24 months of a well becoming an idle well, the operator shall conduct a fluid-level test for all idle wells and shall conduct a casing pressure test from the surface to a depth that is 100 feet measured depth above the uppermost perforation. The pressure test shall be conducted in accordance with the parameters specified in Section 1772.1.1. If for any reason a well cannot be safely and effectively tested as required, then the well shall be deemed to have failed the pressure test.
Influencing Market Trend
- Growing Technical Advancement in Well Testing Equipment
- Rising Drilling and Completion Activity
Market Drivers
- Expansions in the Offshore Exploration and Production Activities :
- The global market is expected to witness a high expansion rate during the forecast period as there will be a rise in the demand for high accuracy measurement while drilling (MWD) as well as reservoir condition measurement instruments. Additionally, high demand for petroleum-based fuel in the various end-user industries including transportation act as a major driver of the market.
Opportunities
- Increase in the Offshore Spending
- Rapid Growth in Unconventional Oil and Gas Activity
- Increasing Use in the Crude Oil and Petrol Refinery Activities
Restraints
- High Environmental Risks at Offshore Site
Challenges
- High Cost Related to Well Testing Services and Equipment
Key Target Audience
Manufacturers of Well Test Equipment, Suppliers of Well Test Equipment, Wholesalers, Distributors and Retailers of Well Test Equipment, Well Testing Services Providers, Oilfield Service Providers and Government Bodies
Customization available in this Study:
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