DUBLIN, April 20, 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/2x97wd/well_testing) has announced the addition of the "Well Testing Services Market by Services (Real Time Well Testing, Downhole Well Testing, Reservoir Sampling, & Surface Well Testing),by Application (Onshore & Offshore) and by Region - Global Trends & Forecast to 2019" report to their offering.
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The well testing services market is estimated to reach $8.0 billion at a CAGR of 6.1% from 2014 to 2019.
The oil & gas industry witnesses high number of the E&P activities every year which is undertaken to meet the growing global energy demand. Well test is an essential part of the well lifecycle and is used on the exploration, appraisal, and development phases. It provides crucial information about the condition of the well such as fluid properties. Furthermore, the increase in the supply of oil & gas from the large petroleum producing regions, such as the Middle East and North America, has exceeded the demand which has resulted in the sudden decline of oil prices during the end of 2014.
Well testing also allows the operator to understand the reservoir better by providing well parameters, such as temperature and pressure, under dynamic conditions.
Potential increase in recoverable resources and maturation of the old fields has resulted in the increase of the testing services pushing the market up to several billions in the last decade. The demand of such services is high in the developing countries like Indonesia, China due to the increase in the drilling activities in the region. Well testing caters to both onshore and offshore well facilities.
The North American is the largest market for well testing services, owing to the increased exploration activities. The Middle East and Asia-Pacific region is also one of the attractive markets for the testing services.
Currently, real time testing services dominate the well testing services market. This dominance is seen mainly due to continuous and large increment in the U.S. exploration and production activities. The downhole testing services occupy the second largest market share due to cost effectiveness of the services. Though the surface well testing services hold low market share, it promise a maximum growth rate in the upcoming years.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Well Testing Services Market, By Application
8 Well Testing Services Market, By Service Type
9 Well Testing Market, By Region
10 Competitive Landscape
11 Company Profiles
- Agr Group Asa
- Expro International Group Ltd
- Fmc Technologies Inc.
- Greene's Energy Group
- Halliburton Company
- Helix Energy Solutions Group Inc.
- Mb Petroleum Services Llc
- Mineral Technologies Inc.
- Rockwater Energy Solutions, Inc.
- Schlumberger Limited
- Tetra Technologies Inc.
- Weatherford International Ltd.
For more information visit http://www.researchandmarkets.com/research/2x97wd/well_testing
Media Contact: Laura Wood , +353-1-481-1716, email@example.com
SOURCE Research and Markets