LONDON--(BUSINESS WIRE)--Jan 17, 2020--
The global slickline services market is poised to grow by USD 943.28 million during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global slickline services market 2020-2024. (Graphic: Business Wire)
Read the 146-page report with TOC on “Slickline Services Market Analysis Report by geography (APAC, Europe, MEA, North America, and South America), application (Onshore and Offshore), and the Segment Forecasts, 2020-2024”.
The market is driven by the efforts to increase oil and gas production from mature oil and gas fields. In addition, the introduction of digital slickline services is anticipated to boost the growth of the slickline services market.
With the aim to enhance the production from mature fields, oil and gas operators are increasingly carrying out various activities, including the workover of wells, which is a well intervention operation. In the workover of wells, slickline services are deployed to install and retrieve plugs, pressure regulators, and lift valves; lower instruments that record bottom hole temperature and pressure; and remove sand and paraffin from inside the wells. Thus, the growing efforts to increase oil and gas production from mature oil and gas fields is expected to drive the growth of the market during the forecast period.
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Major Five Slickline Services Companies:
AOS Orwell Ltd.
Headquartered in Nigeria, AOS Orwell Ltd. offers slickline services that help to deliver efficient and safe operations as well as excellent well intervention solutions.
Archer Ltd. has business operations under two segments, comprising of Eastern Hemisphere and Western Hemisphere. The company offers a wide range of slickline services for well interventions. In August 2019, the company and DART Technologies signed a global technology cooperation agreement for digital well integrity solutions.
Baker Hughes Co.
Baker Hughes Co. operates its business through various segments, such as oilfield services, oilfield equipment, turbomachinery & process solutions, and digital solutions. The company offers light well intervention through slickline services. In November 2019, the company, C3.ai Inc. (C3 ai), and Microsoft Corp. (Microsoft) announced an alliance to bring enterprise artificial intelligence solutions to the energy industry on Microsoft Azure.
Expro Holdings UK 2 Ltd.
Expro Holdings UK 2 Ltd. has its business operations under various segments, such as well testing and appraisal services; subsea, completion and intervention services; and production services. In August 2019, the company and Offshore Oil Engineering Co. Ltd. formed an alliance to provide high-quality subsea and well intervention solutions to expand their capabilities and resources.
Halliburton Co. operates its business under two segments, such as completion and production; and drilling and evaluation. The company provides slickline services which range from basic well intervention to advanced services such as recording flow profiles.
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Technavio has segmented the slickline services market based on the application and region.
Slickline Services Application Outlook (Revenue, USD Billion, 2020 - 2024)
Slickline services Regional Outlook (Revenue, USD Billion, 2020 - 2024)
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PUB: 01/17/2020 07:00 PM/DISC: 01/17/2020 07:00 PM