LONDON, Aug. 21, 2019 /PRNewswire/ -- Analysis by Application (Offshore and Onshore), by Component (Hardware and Software), by Type (Simple and Complex), by Function (Surface Control System, Downhole Monitoring & Control System and Communication System), Company and Country Analysis and Forecasts
• Intelligent completion is a technology, which employs permanent downhole sensors and surface-controlled downhole flow control valves, which enable evaluate, monitor and actively manage production (or injection) in real time without any well interventions.
• This technology facilitates surface-controlled production from each zone or lateral to optimize production and reservoir management, and also decreases production of undesirable gas or water.
Market Overview and Trends
• Intelligent completion technology was initially used in subsea wells. This technology has proven their value in managing production from horizontal wells with multiple zones, wells in heterogeneous reservoirs, mature reservoirs and multilateral wells.
• In December 2018, a global completion systems and service provider to oil and gas companies launched a new technology, FloFuse to enhance oil recovery.
• The objective of this technology is to increase oil recovery by improving injected water conformance in fractured reservoirs or by ensuring the effective placement of matrix stimulation acids.
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Factors Influencing the Market Growth:
• Increase in demand for oil production globally
• Technological advancements associated with intelligent completion systems
• Improved focus to enhance oil production
Factors Restraining the Market Growth:
• High costs association with initial design, installation and, maintenance of intelligent completion systems
• Concerns regarding data processing and data-safety associated with intelligent completion systems
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Market Segmentation 2019-2029:
• Offshore Market, 2019-2029
• Onshore Market, 2019-2029
• Hardware Market, 2019-2029
• Software Market, 2019-2029
• Simple Systems Market, 2019-2029
• Complex Systems Market, 2019-2029
• Surface Control System Market, 2019-2029
• Downhole Monitoring & Control System Market, 2019-2029
• Communication System Market, 2019-2029
Focused regional forecasts and analysis explore the future opportunities:
• North America Market, 2019-2029
• Europe Market, 2019-2029
• Asia-Pacific Market, 2019-2029
• LAMEA Market, 2019-2029
• Companies are actively engaged in different developmental strategies in order to improve and increase their foothold in the global intelligent completion market.
• There have been a considerable number of product launches, product developments, mergers, and acquisitions recently in the global intelligent completion industry.
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Companies covered in the report include:
Kuwait Petroleum Corporation
Royal Dutch Shell
Superior Energy Services
Total Fina Elf S.A
To discuss this report please e-mail Sara Peerun on firstname.lastname@example.org