Smart wells are wells which have equipment which can
be controlled automatically or manually. Intelligent well completions or
‘smart’ wells enable operators to acquire data, monitor and remotely control
well operations for maximum productivity. Moreover, smart well technology plays
a crucial role in maintaining financial stability and drilling activity by
providing details regarding reservoirs characteristics. It is equipped with
downhole sensors, which monitor well and reservoir conditions as well as it monitors
valves to control the inflow of fluids from the reservoir. Additionally, the
smart well technology allows measuring flows from each producing formation in
real time and regulating water injection rates in injection wells.
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The report has been analyzed the market based on the
two segments, namely well type and end-use in the regions of North America,
Europe, APAC and Rest of the World.
On the basis of well sites, the market includes the
segments of onshore and offshore. The onshore well type is expected to be
higher than the offshore segment in terms of market share during the forecast
period.
The factors such as increasing drilling activities
in oil fields and rising trend to focus on unconventional reserves such as
shale gas and tar sand reserves are driving the onshore well type. Moreover,
the cost incurred in oil & gas activities such as drilling, and completion
is less in onshore when compared to offshore applications.
North America region shows the highest growth in
smart well due number of investments as well as high exploration and production
activities and Asia-Pacific expected a potential growth for the market.
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Key Players
The key players of global smart well market are
Baker Hughes, Halliburton, Schlumberger, Weatherford International, National
Oilwell Varco, Superior Energy Services, Inc. Trican Well Service Ltd., RPC
Inc., Nabors Industries Ltd, Salym Petroleum Development N. V. and others.
Target Audience
- Manufactures
- Raw
Materials Suppliers
- Aftermarket
suppliers
- Research
Institute / Education Institute
- Potential
Investors
- Key
executive (CEO and COO) and strategy growth manager
Regional
Analysis of Global Smart Well Market
Currently, North America dominates
the global smart well market share. Major value generation activities of the
market are recorded in North America and the other regions are growing at a
higher growth rate with the exploration of new reserves, creating growth
prospects for the exploration and production (E&P) activities due to
technological developments.
Asia-Pacific is expected to grow
significantly in the forecast period. The growth is primarily due to shale
activity in China and increasing offshore oil and gas exploration in countries
such as India and Indonesia. Moreover, rise in offshore oil and gas exploration
and enhanced oil recovery techniques will make APAC the fastest growing region
in the global market
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