Well Intervention Market to Drive Growth at USD 12.14 Billion by 2031 | SkyQuest Technology [Yahoo! Finance]
Schlumberger N.V. (SLB)
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Source: Yahoo! Finance
Westford, USA, Nov. 14, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global well intervention market will attain a value of USD 12.14 Billion by 2031 , with a CAGR of 4.8% during the forecast period (2024-2031). New oilfield developments and the rise in demand for energy are expected to fuel well intervention market growth. This rapid growth is driven by efforts being made to increase productivity gained from conventional fields in major countries. Market growth is expected to be driven by the large number of untapped hydrocarbon reserves and the importance of the oil and gas sector for various economies. Moreover, the increasing focus on deep and ultra-deep-sea explorations in North Sea and Gulf of Mexico is projected to drive the growth of good interventions. The sixth major contributor to the growth of the well intervention market is aged or mature oil and gas fields. A field is deemed aged when there is a decrease in the overall production capacity of the field. A major is
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