Global Reservoir Analysis Market (2021 to 2026) – Featuring Trican Well Service, Tracerco & ALS Among Others – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Reservoir Analysis Market – Forecasts from 2021 to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global reservoir analysis market is evaluated at US$7.737 billion for the year 2020 growing at a CAGR of 4.67% reaching the market size of US$10.174 billion by the year 2026.
Reservoir analysis refers to the analysis of the rocks, pores and fluids inside a reservoir to optimise their production and recovery techniques. The methods and equipment used in the analysis develops subsurface data which helps in the analysis of the reservoir in order to increase the reliability of the reservoir. The market is majorly driven by the rapid increase in the complexities of the reservoir due to increasing depth and the also with rising use of horizontal wells as well. The analysis also helps in further developing the dynamic properties of the rock and fluid properties that the reservoir has.
A key factor expected to be driving the market during the forecast period is the increase in the demand of oil & gas which are used in various applications across several industries like, automotive, aviation, electricity generation, and others. Moreover, with the given rate of industrialization and technological advancements in the energy sector, the reliability on reservoir analysis has increased in the recent years. Moreover, the analysis gives us the relevant information in several areas like Reservoir Characteristics – Permeability, completion efficiency (skin), formation permeability, etc, if the flowing pressure is known in addition to the flow rate (assuming the existence of BDF), estimate of the recoverable hydrocarbons, and is usually determined by traditional production decline analysis methods, amongst others. Furthermore, the rising focus on mature oil & gas fields and other field developments are expected to fuel the market during the forecast period.
The market is expected to witness a significant growth owing to the innovation in the techniques used to do the analysis required. For instance, with the introduction of Rate-transient Analysis (RTA) which is said to be an extension to the Pressure Transient Analysis (PTA), allows the operator to analyse the data without shutting down the operations of the well which prevents the losses in production. The RTA technique basically combines Darcy’s law with EoS and MBE to obtain a PDE, which is then solved analytically. The market of the reservoir analysis will be majorly fuelled by the rising demand of energy resources at a global level. This has led to an increased productivity of most of the energy resources in the recent years. For instance, According to a report by the International Energy Agency (IEA), the global production of the natural gas reached the highest production done ever in the year 2019 with 4 088 Bcm produced which is +3.33% as compared to that in the year 2018. According to the report, the production of the natural gas has witnessed a steady increase since the financial crisis at compounded annual growth rate of 2.7%.
The advent of COVID-19 had an adverse impact on the global Reservoir analysis market since the pandemic brought the activities in refinery industry to a standstill globally which restricted the project construction, exploration and production activities. After the initial lockdown period, some of the activities were allowed but with restrictions and certain protocols that were required to be followed like the refinery will be operated with lesser capacity which will require less labour to come in contact and social distancing was required to be maintained in the premises as well.
Companies Mentioned
- Schlumberger Limited
- Halliburton Company
- Baker Hughes Company
- Weatherford International PLC
- CGG SA
- Core Laboratories N.V.
- Roxar Software Solutions AS
- Trican Well Service Limited
- Tracerco Ltd
- ALS
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Reservoir analysis market Analysis, by Reservoir Type
5.1. Introduction
5.2. Conventional
5.3. Unconventional
6. Reservoir analysis market Analysis, by Service
6.1. Introduction
6.2. Geo Modelling
6.3. Reservoir Simulation
6.4. Data Acquisition
6.5. Monitoring
6.6. Reservoir Sampling
6.7. Others
7. Reservoir analysis market Analysis, by Application
7.1. Introduction
7.2. Onshore
7.3. Offshore
8. Reservoir analysis market Analysis, by Geography
8.1. Introduction
8.2. North America
8.3. South America
8.4. Europe
8.5. Middle East and Africa
8.6. Asia Pacific
9. Competitive Environment and Analysis
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/u0qr09
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