Global Riserless Light Well Intervention Market: Overview
It has been noticed that recovery rate is markedly less in subsea wells than in surface platforms because of highly complex well intervention and maintenance issues. To tackle the challenges, a riserless light well intervention is leveraged which conducts intervention to improve the recovery rate significantly. Not just that, it also helps in bringing down the cost of deepwater operations in mature subsea fields and saves time too. It is a technology that enables cost effective operations in existing subsea wells such as chemical treatment, repair, measurements, plug zone isolation, and scale removal, thereby augmenting production of oil. Riserless light well intervention operations are essentially conducted from a dynamically-positioned, purpose-built, intervention vessel. It carries out logging, gauging, plugging, re-perforating, and other downhole mechanical works to reduce flow restrictions.
Riserless light well intervention system is a relatively new technology. Initially, it could function only in shallow water but on account of cutting-edge innovations in the domain of technology, it can now operate both in deep and ultra-deep water. A report by Transparency Market Research offers essential information about the global market for riserless light well intervention. It presents a granular analysis of the factors promoting or hindering it. It also profiles leading companies in the market and discusses their market shares, competitive edge, and operations. Further, the report leverages market-leading analytical tools to gauge the threats and opportunities.
Global Riserless Light Well Intervention Market: Trends and Opportunities
By shifting well intervention work from expensive drilling rigs to light monohull vessels, the cost of well intervention is lowered significantly. To put it in some perspective, it can slash cost by up to 60% than in a rig-based well access system. With rapid progress in technology, the number of subsea IOR project development is increasing and it has positively impacted the global market for riserless light well intervention vessel. A noticeable trend in the market is the long-term agreements between service providers and operators.
Fast-expanding developing economies in the world, rapid pace of industrialization and urbanization, and a burgeoning population that have driven up the demand for energy exponentially have provided a substantial fillip to the global market for riserless light well intervention. Integration of new technologies with the existing technologies, however, can serve as a hindrance to the market. Another factor posing a roadblock to the market is the fact that the operation is essentially complex, needing specialized technical expertise and requiring monitoring and controlling in every phase.
Global Riserless Light Well Intervention Market: Regional Outlook
Geographically, the key segments of the market are Europe, Asia Pacific, North America, and the Rest of the World. Europe among them, is a key region, powered by Norway. Currently, there are 300 operating subsea wells by Norwegian companies on the Norwegian Continental Shelf. Norwegian companies are also operating in subsea fields in deep waters and in the arctic areas. At present, Norwegian operators have entered into a long term commitment to acquire a riserless light well intervention service for one provider for a period of five years. To make the service more effective, they are leveraging new technologies such as better deployment systems, composite cables, advanced well control systems, and coiled tubing from light vessels.
Companies Mentioned in the Report
Some of the noteworthy companies competing in the global market for riserless light well intervention market, profiled in the report are FTO Services, FMC Technologies, Statoil ASA, Aker Solutions, Sapura Kencana Well Services, and Helix Energy Solutions Group Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.