GLOBAL SUBSEA WELL INTERVENTION MARKET 2014 - 2019 Market Shares, Forecasts & Trends
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SUBSEA WELL INTERVENTION Riser-less Well Intervention (RLWI) and subsea well intervention through rigid riser has become more and more actual in the oil and gas industry the last six years. As the industry moves into deeper water offshore, more new fields are being developed subsea than from platforms. One problem the industry faces with subsea wells is that recovery factors are much less compared to recovery from platform wells. A major contributing factor is the low frequency of interventions performed on subsea wells.
KEY POINTS NOTED
Subsea hardware expenditure expected to cross $100 billion in the next five years, out of which pipe lines accounts for almost half the expenditure.
Europe is expected to lead the market in terms of revenues, followed by Africa and South & Central America.
Africa’s Subsea Well Intervention market is uncertain because of the political and other domestic issues in the region.
Brazil’s Petrobras is the major Customer for subsea tree installations, followed by Total and ExxonMobil.
Major pipeline projects are expected to be implemented especially in the regions Middle East, Europe, FSU and Asia in the coming years.
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GLOBAL SUBSEA WELL INTERVENTION VESSEL SYSTEMS MARKET ANALYSIS Global subsea well intervention market is expected to reach $XX billion by 2019, up from $XX billion in 2013 with a CAGR of 7.94 per cent. The major factors behind this rise could be the rise in oil and gas demand and ageing assets which needed to be intervened more regularly than the new assets, vast amounts of unexplored reserves in deep waters in areas like the North Sea and Gulf of Mexico, Offshore Africa. Europe is expected to lead the subsea well intervention market with more than 30 per cent market share, given its activities in the North Sea and in other offshore regions. Europe will be followed by Africa and the Americas, which together comprise more than 50 per cent of the market share. The forecasts will largely be affected by the environmental conditions and the number of vessel days for Intervention. Offshore industry service companies are making plans to serve the growing demand for well intervention by refurbishing existing rigs and designing new ones that will better suit the particular needs of the market. The subsea well intervention market is expected to grow rapidly in the coming decade as the demand for oil and gas is increasing with time and as the production moves in to deeper waters and the number of subsea wells increases. Global count of subsea trees and offshore rig count is also expected to grow because of the above mentioned reasons.
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The need for intervention typically occurs after five years of production, due to reduced pressure in wells, increased water or sand production, scaling in wells, and other factors. Oil wells generally have a greater need for intervention than gas or injection wells. The potential markets for subsea well intervention being the North Sea, with its dwindling reserves and decreased production levels. Still efforts are underway to take out oil and gas from much deeper areas which were not explored earlier because of environmental issues and costs associated with them. During the last 15 years, the development of deepwater fields started with ever increasing water depths. In order to enable develop a significant number of deep water drilling units, be it ship shape or semisubmersible, have been built or are being built at present. And the most common thing among the vessel intervention market is the number of days a vessel has to spend on intervention for the specific well. Forecasts and result all will be dependent upon the number of days significantly. The need for well intervention is increasing with time. There are some dedicated units are available for intervention, in some cases a drilling unit could be obtained at a reasonable price if a dedicated unit was not available. Subsea well intervention technology is still under development for deeper water, while the more mature market appears to be in the North Sea with its shallow water depth. Several operators in the North Sea are using dedicated subsea well intervention vessels on a routine basis.
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SAMPLE FIGURES Table 17: Average Expected Vessel Days/Well for Subsea Well Intervention
Intervention
Light
Medium
Heavy
XX
XX
XX
Table: Global Subsea Well Intervention Market Demand to 2017 Year
Market Demand ($ billions)
2005
1.08
2006
XX
2007
XX
2008
1.58
2009
XX
2010
XX
2011
XX
2012
XX
2013
2.99
2014
XX
2015
XX
2016
XX
2017
XX
2018
XX
2019
XX
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Global Subsea Well Intervention Market Share by Region
North America
Table 7: Pros and Cons of Riser-Less Well Intervention
Pros Lightest most cost effective and flexible intervention setup for electric-line
Cons Limited number of SSL systems worldwide
Can be deployed from Vessel of Opportunity
Cannot pump large volumes of fluid
Fast to mobilize, deploy & move between wells
Cannot run Coil Tubing
Can achieve 90% of intervention requirements on e-line with Welltec mechanic suite of tools Vessel can be used for additional activities (IMR, Construction, Installation, SAT etc)
Oil Companies not all locally aware of technology
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