Well Test Market Research Report - Global Forecast to 2027

Well Test Market Information Report by Well Type (Onshore and Offshore), by Services (Surface testing, Reservoir testing, Downhole Well Testing) and by Region - Global Forecast to 2027

ID: MRFR/E&P/1183-HCR | February 2021 | Region: Global | 100 pages

Impact of COVID-19 on the Global Well Test Market
Well Test Market


Source: Primary Experts, Secondary Sources, and MRFR Analysis


The growth of the oil & gas industry has been hampered to a great extent by the global pandemic crisis. Global oil demand is likely to reduce due to travel restrictions and broader economic activity. As per the International Energy Agency (IEA), the global oil demand is likely to by fall around 99,000 barrels a day in 2020 from 2019.  Moreover, oil price volatility has always been a challenging element in the oil & gas industry. Oil prices have been on a decline in the last three to four years. However, the recent COVID-19 outbreak has led to disruptions in oil demand, resulting in a severe impact on financial markets. The COVID-19 crisis is affecting a wide range of industries, including oil & gas, coal, and renewables. However, due to the global lockdown, people and goods are not moving around, resulting in a reduced demand for transport fuels. China, being the largest importer of oil, has witnessed a steep fall in demand. This has led to major implications for the global oil & gas market. Complex upstream projects, including well test and well intervention, are likely to be notably affected as these operations depend largely on a global supply chain of expertise and equipment. Therefore, there have been delays in enhanced oil recovery and exploration development projects. Project delays have not only led to high costs but also are being offset by an expected decline in oilfield services.


FIGURE: CRUDE OIL PRODUCTION IN THE US, 2012-2021 (Million Barrels/Day)
CRUDE OIL PRODUCTION


Source: US Energy Information Administration, Short Term Energy Outlook (STEO)


The global market for well test processes has also been affected due to reduced activity in the upstream sector. The operations of well test companies could be stopped to a certain extent. However, if the production stops for a longer period, the oil wells would have to be sealed, which might result in the permanent loss of the asset. This would lead to huge losses and lower to zero dividends by the oil companies to the pension funds, especially in North America and Europe. On 15th May 2020, the Energy Information Administration (EIA) announced its forecast pertaining to crude oil production fall in the year 2020 and 2021 due to the falling demand for petroleum products because of the pandemic situation. The EIA forecasts that the US crude oil production would average 11.7 million barrels per day in 2020 and 10.9 million barrels per day in 2021. These levels are lower than the 2019 average of 12.2 million barrels per day.


REPORT PROLOGUE

INTRODUCTION


DEFINITION

SCOPE OF THE STUDY


RESEARCH OBJECTIVE

ASSUMPTIONS

LIMITATIONS



MARKET STRUCTURE

MARKET SEGMENTATION



RESEARCH METHODOLOGY


RESEARCH PROCESS

PRIMARY RESEARCH

SECONDARY RESEARCH

MARKET SIZE ESTIMATION

FORECAST MODEL



MARKET DYNAMICS


DRIVERS & OPPURTUNITIES

CHALLENGES & RESTRAINTS

VALUE CHAIN ANALYSIS

PORTER’S FIVE FORCES ANALYSIS



WELL TEST MARKET, BY Services


INTRODUCTION

Surface Testing

Downhole Well Test

Reservoir Testing



WELL TEST MARKET, BY Well Type


INTRODUCTION

Onshore

Offshore



WELL TEST MARKET, BY REGION


INTRODUCTION

NORTH AMERICA


U.S.

CANADA

MEXICO



EUROPE


U.K.

GERMANY

FRANCE

RUSSIA

REST OF EUROPE



ASIA–PACIFIC


CHINA

INDIA

JAPAN

SOUTH KOREA

AUSTRALIA

REST OF ASIA



SOUTH AMERICA


BRAZIL

ARGENTINA

REST OF SOUTH AMERICA



MIDDLE EAST & AFRICA


SAUDI ARABIA

UAE

KUWAIT

SOUTH AFRICA

ALGERIA

NIGERIA

REST OF MIDDLE EAST & AFRICA





COMPANY LANDSCAPE


INTRODUCTION

COMPETITIVE STRATEGY ANALYSIS

PARTNERSHIPS AND COLLABORATIONS

MERGERS & ACQUISITIONS

BUSINESS EXPANSION

WELL TYPE LAUNCH/DEVELOPMENT



COMPANY PROFILE


AGR Group ASA.


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



FMC Technologies Inc.


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Schlumberger Ltd.


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Halliburton Company


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Tetra Technologies Inc.


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Weatherford International Ltd


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Expro International Group Ltd


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Greene's Energy Group


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS



Helix Energy Solutions Group Inc.


COMPANY OVERVIEW

WELL TYPE/BUSINESS SEGMENT OVERVIEW

FINANCIAL UPDATES

KEY DEVELOPMENTS





MRFR CONCLUSION

APPENDIX


LIST OF TABLES

TABLE 1 GLOBAL WELL TEST MARKET SNAPSHOT

TABLE 2 DRIVERS FOR THE MARKET

TABLE 3 RESTRAINTS FOR THE MARKET

TABLE 4 GLOBAL WELL TEST MARKET, BY WELL TYPE

TABLE 5 Onshore, BY REGION

TABLE 6 Offshore MARKET, BY REGION

TABLE 7 GLOBAL WELL TEST MARKET, BY SERVICES

TABLE 8 RESIDENTIAL MARKET, BY REGION

TABLE 9 COMMERCIAL MARKET, BY REGION

TABLE 10 INDUSTRIAL MARKET, BY REGION

TABLE 11 GLOBAL WELL TEST MARKET, BY REGION

TABLE 12 NORTH AMERICA WELL TEST MARKET, BY COUNTRY

TABLE 13 U.S. WELL TEST MARKET, BY WELL TYPE

TABLE 14 U.S. WELL TEST MARKET, BY SERVICES

TABLE 15 CANADA WELL TEST MARKET, BY WELL TYPE

TABLE 16 CANADA WELL TEST MARKET, BY SERVICES

TABLE 17 MEXICO WELL TEST MARKET, BY WELL TYPE

TABLE 18 MEXICO WELL TEST MARKET, BY SERVICES

TABLE 19 EUROPE WELL TEST MARKET, BY COUNTRY

TABLE 20 U.K.WELL TEST MARKET, BY WELL TYPE

TABLE 21 U.K.WELL TEST MARKET, BY SERVICES

TABLE 22 GERMANY WELL TEST MARKET, BY WELL TYPE

TABLE 23 GERMANY WELL TEST MARKET, BY SERVICES

TABLE 24 FRANCE WELL TEST MARKET, BY WELL TYPE

TABLE 25 FRANCE WELL TEST MARKET, BY SERVICES

TABLE 26 ITALY WELL TEST MARKET, BY WELL TYPE

TABLE 27 ITALY WELL TEST MARKET, BY SERVICES

TABLE 28 SPAIN WELL TEST MARKET, BY WELL TYPE

TABLE 29 SPAIN WELL TEST MARKET, BY SERVICES

TABLE 30 REST OF EUROPE WELL TEST MARKET, BY WELL TYPE

TABLE 31 REST OF EUROPE WELL TEST MARKET, BY SERVICES

TABLE 32 ASIA-PACIFIC WELL TEST MARKET, BY COUNTRY

TABLE 33 CHINA WELL TEST MARKET, BY WELL TYPE

TABLE 34 CHINA WELL TEST MARKET, BY SERVICES

TABLE 35 AUSTRALIA WELL TEST MARKET, BY WELL TYPE

TABLE 36 AUSTRALIA WELL TEST MARKET, BY SERVICES

TABLE 37 JAPAN WELL TEST MARKET, BY WELL TYPE

TABLE 38 JAPAN WELL TEST MARKET, BY SERVICES

TABLE 39 INDIA WELL TEST MARKET, BY WELL TYPE

TABLE 40 INDIA WELL TEST MARKET, BY SERVICES

TABLE 41 MALAYSIA WELL TEST MARKET, BY WELL TYPE

TABLE 42 MALAYSIA WELL TEST MARKET, BY SERVICES

TABLE 43 REST OF ASIA-PACIFIC WELL TEST MARKET, BY WELL TYPE

TABLE 44 REST OF ASIA-PACIFIC WELL TEST MARKET, BY SERVICES

TABLE 45 REST OF THE WORLD WELL TEST MARKET, BY COUNTRY

TABLE 46 BRAZIL WELL TEST MARKET, BY WELL TYPE

TABLE 47 BRAZIL WELL TEST MARKET, BY SERVICES

TABLE 48 OTHERS WELL TEST MARKET, BY WELL TYPE

TABLE 49 OTHERS WELL TEST MARKET, BY SERVICES

LIST OF FIGURES

FIGURE 1 RESEARCH METHODOLOGY

FIGURE 2 IMPACT ANALYSIS: DRIVERS AND RESTRAINTS

FIGURE 3 GLOBAL WELL TEST MARKET, BY WELL TYPE

FIGURE 4 GLOBAL WELL TEST MARKET, BY SERVICES

FIGURE 5 GLOBAL WELL TEST MARKET, BY REGION

FIGURE 6 NORTH AMERICA WELL TEST MARKET, BY COUNTRY

FIGURE 7 EUROPE WELL TEST MARKET, BY COUNTRY

FIGURE 8 ASIA-PACIFIC WELL TEST MARKET, BY COUNTRY

FIGURE 9 REST OF THE WORLD WELL TEST MARKET, BY COUNTRY