The second edition of Infield Systems' Subsea Well Intervention Market Report To 2017 provides an in-depth review of the market, including a comprehensive analysis of data derived from Infield Systems' detailed demand model for global and regional well intervention, the impact of current industry trends, the latest technologies and availability of vessels and equipment, all within the context of the current geopolitical climate. The well intervention activities of key operators are also examined, specifically, the way in which they are helping to shape global well intervention demand.
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The subsea oil and gas market continues to grow at an increasing pace, as oil and gas operators continue to discover reserves in deeper water areas where the only economically viable recovery solution is a subsea development. As such, the requirement for maintaining and boosting recovery rates from these subsea wells has increased and will continue to do so. As a result of this need to maintain and boost production, Infield Systems believes that well intervention activities will play a key role in the future of the subsea oil and gas market.
This unique report discusses the potential requirement for well intervention services by applying a probability model for subsea wells around the world. The report includes detailed information on intervention, IRM, subsea installations and the approach of various operators, contractors and equipment providers to the use of well intervention technologies. It provides a valuable insight into key developments within the well intervention market.
Europe is anticipated to require the largest market share of well intervention demand going forward, at 32%, as activity is fuelled by the large number of existing subsea wells in the region. Activity will remain primarily focused on the well-established UK and Norwegian markets, with Statoil continuing to lead the way in terms of performing well intervention work. Elsewhere, the increasing number of deeper water discoveries, particularly in the African and Latin American markets, is expected to account for the increase in demand in these regions, as these deeper water discoveries need to be developed with subsea technology. For operators wishing to optimise production from these recent discoveries, well intervention operations will be a necessity.
Riserless Light Well Intervention (RLWI) has the potential to become vital to any operator around the world that possesses a substantial number of subsea wells. This is especially the case given that, in order to service the unprecedented demand for hydrocarbons, operators face an ever increasing need to optimise recovery rates and to extend exploration activity into deeper and harsher territories. Statoil has been a pioneer of RLWI activity, predominantly in the North Sea, and has contracts running until 2020 to ensure it can achieve its well intervention requirements, whilst additional activity is beginning to come from Total in Angola, Petrobras in Brazil and BP, Shell and ExxonMobil in the North Sea, US GoM and West Africa.
Light well intervention demand is expected to continue to account for the greatest share of well intervention demand going forwards, at 53%. However, with the increasing age of existing subsea wells, demand for medium and heavy interventions is also expected to increase, fuelling the need for larger Semi-Submersible specific well intervention vessels to carry out more complicated intervention activities.
This report explores further the key reasons for carrying out well intervention activities, as well as highlighting the main differences that exist between the three main types. In addition, the report aims to provide the reader with a better understanding of the new vessels that are being built in order to service this changing market as well as providing an insight into the likely demand for well intervention operations from key operators over the next five years.
With data derived from two of Infield Systems' proprietary databases, OFFPEX and the Specialist Vessels Database, the report presents both the supply and demand dynamics in this emerging market. Tracking each active vessel, as well as the myriad of assets currently lying in shipyards, a full analysis of the key players and their differing solutions is provided, including a detailed region by region analysis. This makes Infield Systems' latest specialist report the most up-to-date, in-depth and detailed research report on well intervention available in the market today.
- Executive Summary presents an overview of the Well Intervention market, outlining the rise of the subsea industry and the key drivers for Well Intervention activities.
- Introduction provides a brief history of key well intervention activities, along with, an in-depth understanding of the methodology behind the report and an overview of the market sector from a macro perspective. This section also provides a brief overview of key changes that have occurred within the market since the writing of Infield Systems' previous report.
- Well Intervention Demand provides a detailed forecast on well intervention, using a global and region by region analysis of the Well Intervention market and its potential for growth. Beginning with an introduction into market demand and concluding with a focus on potential growth in the usage of Well Intervention Solutions, this section provides a detailed analysis on current market dynamics and the potential adoption of Well Intervention technologies. Also included is a detailed analysis of the subsea installation and IRM markets which are likely to provide cross-over opportunities for Well Intervention vessels.
- Well Intervention Supply assesses the growth in the number of specialised vessels and then profiles the vessels that have been built in order to meet the potential demand set to come from the Well Intervention market. This section provides a detailed examination of the differences between a specialised Well Intervention vessel and a Vessel of Opportunity in terms of their ability to meet the growing demand in the market. It also provides an in-depth assessment of the vessels capable of serving the industry, as well as analysing the key relationships that exist between vessel operators and intervention equipment providers.
- Vessel Utilisation and Dayrate Analysis assesses dayrates and vessel utilisation data, based on the recognition that some vessels are not used completely for well intervention related activities. The dayrates provided in this section are based on Infield Systems' Vessel Activity Log, which includes data on the type of activity in which each vessel is engaged, as well as supply and demand indicators which influence the level of utilisation.
- Appendices and Notes are included at the end of the report to provide the reader with a further understanding of the unique models developed by Infield Systems and an explanation of how they are used to develop the data that has been included in the report.
Why You Should Buy This Report
- The report contains data developed by Infield Systems’ market modelling process, OFFPEX, which is based on a unique “bottom up approach” to forecasting. OFFPEX’s component by component and project by project forecasting process is robust and has a proven track record.
- This report provides an independent and comprehensive analysis of the issues, new technological developments and risks impacting the Well Intervention market and the companies offering services within this sector.
- The report presents information on the expected demand for Well Intervention vessels, by looking at the number of subsea equipment installations coming on-stream on a global and regional basis, looking at the demand coming from various countries and oil and gas operators.
- The report provides a detailed assessment of Well Intervention vessel utilisation and dayrate analysis, from Infield Systems’ Vessel Activity Log.
Specialist Vessels Database (Well Intervention Assets) Online
With the purchase of Global Perspectives Subsea Well Intervention Market Report To 2017, free access to the Specialist Vessel Database (Well Intervention Assets) module for a twelve-month period is included.
The following are the key data points tracked about each vessel:
- IMO Number
- Vessel Name
- Previous Name/s
- Owner / Operator
- Current Status
- Capabilities: Lay, Burial / Trenching, Heavy Lift, Heavy Transport, Accommodation, Well Intervention, Dive Support
- Vessel Type
- Maximum Capacities: Lift, Transportation, Diameter
- Year Built
- Progress on Delivery (Newbuilds and Conversions),
- Contracted Builder + Country
- Hull Yard + Country
- Attributes: Length, Width/Breadth / Depth / DWT /Total Deck Load/Strength Capacity / Deck Area Dimensions / Total Free Deck Area / Hull Type
- Transit Speed
- Accommodation (Persons)
- Newbuild Capex
- Sphere of Operations
- Designed Laying Speeds
- Lay System
- Lay Type Capabilities: Rigid Pipe, Coiled Line Pipe, Flexible Pipe, Umbilical, Bundled Pipe, Pipe-In-Pipe, Cable
InfieldLive Service Overview
- A three user single site licence for a period of 12 months
- Access to the latest published data set
- Unlimited access to the data through InfieldLive
- Ability to download the complete data sets to Excel, Access etc. or to interrogate the information online and export results
- Support, assistance and advice on getting the most from your subscription
Upgrade to Specialist Vessels Database Standard Module and PSV AHTV Module
The Standard Module of the Specialist Vessels Database identifies the following types of vessels:
- Dive Support
- Pipe/Cable Lay
- Pipe Burial/Trenching
- Heavy Lift
- Heavy Transport
- Well Intervention
The PSV and AHTS Modules of the Specialist Vessels Database identifies:
- Platform Supply Vessels
- Anchor Handling Tug Supply Vessels
For more information about the Global and Regional Perspectives series of reports, please visit Infield.com