An increase in dependency of energy needs on liquid petroleum, such as diesel, gasoline, and kerosene, is continuing its trend forcing a growth in oil supply. Thus, the demand for oil and other energy sources is growing dramatically despite the fact that prices to purchase energy are increasing, and is being fuelled by the exponentially growing population. Therefore, oil field operator companies are enhancing the production of oil fields. As a result, there is a rise in the demand for fishing service, well stimulation, and well logging services.
Fishing activities are done to retrieve unwanted, lost, or stuck mechanical objects from a wellbore. Fishing activities include milling activities and packer retrieval. Drilling is the phase where most of the fishing activity is done in the life of a wellbore. The market for this intervention service is the highest in geographical locations where exploration is the highest. The increasing trend in the fishing market is set to continue further with the current surge in offshore and onshore activities, and unconventional resources exploratory activities.
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Well stimulation services are performed to restore and enhance the production of wells which are hindered by skin formation near the wellbore area. This is a frequent problem in producing wells occurring with time. There are two types of remedial stimulation methods: hydraulic fracturing and matrix treatments. Fracturing is performed above the fracturing pressure of the reservoir formation; while matrix treatment is performed below the fracture pressure. The demand for hydraulic fracturing is increasing in the Americas, making it a lucrative market.
Logging & Bottom Hole Intervention Market
Well logging is the method of recording and analyzing the detailed record of the survey well log. This practice has been initiated by Schlumberger. This can be done during any phase, such as drilling, completing, producing, and even at the time of abandonment. Well logging is very useful for the entire life of the well, as the survey is the only tool to know the actual conditions of the well. In the global perspective, the well logging & bottom hole survey service market is growing at a high rate.
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