Energy Demand to Drive the Growth of the Well Intervention Services Market in Africa

Thursday 21 May 2015, Amsterdam

The dependency of energy needs upon liquid petroleum such as diesel, gasoline, and kerosene continues its trend forcing the growth in oil supply. As a result, the oil field operator companies are enhancing their production of matured fields. The only way to boost the production of a field is to deploy one or another well intervention services, acting as a major driver for this market.

Despite the fact that the price to purchase energy is ramping up, the appetite for oil and other energy sources is growing dramatically and is being fuelled by exponentially growing population. According to British Petroleum (BP) statistical report, world’s energy demand has increased by 2.5% in 2011. To satisfy this increasing demand for oil & gas, oil companies are seeking to unlock the full potential of wells, hence the newly advanced well-intervention equipment and technologies are vital. Additionally, in order to sustain the production, gradually it becomes viable and important to maintain the wells at its optimum production and extract the maximum amount of resources. This growing demand is forcing the industry to increase the supply of energy.

In-depth profiling of the key players have been conducted, along with the recording of their recent developments (including new product launches, partnerships, agreements, collaborations, and joint ventures) and strategies adopted by them to sustain and strengthen their positions in the African well intervention market. Aker Solutions ASA (Norway), Schlumberger Ltd. (U.S.), Baker Hughes Inc. (U.S.), and Halliburton Co. (U.S.) are among the key players engaged in this market.