Global Information Inc. would like to present a new market research report, "Oil and Gas Enhanced Production Services Industry to 2016 - Enhanced Oil Recovery (EOR) Driving E&P Activity in Depleting Hydrocarbon Reservoirs" by GBI Research.
Considerable investment is being ploughed into oil and gas enhanced production services in the hope of increasing production efficiency in a market where global hydrocarbon consumption is only expected to increase, according to market intelligence experts GBI Research.
The new report* shows that the application of enhanced production techniques, such as the artificial lift technique in upstream production processes, and sand control services, will considerably improve the percentage recovery of oil and gas from onshore and offshore reservoirs.
Artificial lift services picked up the pace in 2011 as a result of increasing oil and gas demand, which brought about the need to enhance production above levels achieved from naturally flowing reservoirs. The Ministry of Oil and Gas in Bahrain has recently declared an increase of over 25% in their countrys oil production, from 32,000 barrels per day to roughly 40,000 barrels per day. This represents the first production increase in the past 33 years, and is direct a result of artificial lift techniques applied in oil and gas extraction activities within their wells.
Artificial lifts improve the percentage of hydrocarbon recovery, by adding energy to the fluid column in a wellbore to initiate and develop production from the well. Artificial-lift systems use a range of operating principles, including rod pumping, gas lifts, and electric submersible pumps.
Sand control services prevent the transport of solids from the reservoir into the process facilities, which could adversely hamper flow assurance and impact well integrity. Therefore, sand management solutions are expected to be of rapidly increasing importance, especially for depleting reservoirs in todays increasingly competitive market. Utilization of technology such as sub-sea sand erosion sensors, which control sand production rates and removal services, could lead to reduced shutdowns, and help operators increase production efficiency from depleting or mature assets.
Global artificial lift expenditure is expected to steadily increase at an AAGR of 8.83% during 2011-2016, from $6.18 billion in 2011 to around $8.91 billion in 2016.
*Oil and Gas Enhanced Production Services Industry to 2016 - Enhanced Oil Recovery (EOR) Driving E&P Activity in Depleting Hydrocarbon Reservoirs
This report provides an in-depth analysis of the oil and gas enhanced production services market worldwide and highlights the various concerns, key trends, along with major upstream deals in the upstream exploration and production sector. The report provides forecasts for the oil and gas enhanced production services industry to 2016. The report also provides segmental forecasts of the oil and gas enhanced production services industry by segment type and mentions the technology overview of each segment. Profiles of major oilfield services companies providing enhanced production services are also provided.
The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Researchs team of industry experts.