The global well testing service market is anticipated to grow at a significant CAGR of 6.1% during the forecast period (2022-2028). Accurate exploration data is required in the management of reservoirs. Optimization of production is required to minimize the impact which it causes on the environment. In this regard, Weatherford is operating in the area of well testing and is a leader in this category. They provide services such as production well testing, frac flow back, well cleanup, and unloading. Some reservoirs need separate services such as plug recoveries, inline production tests, and extended well testing. The major factors driving the growth of the market include the increasing energy demand that has surged the exploration & production activities and growing population and industrial development.
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Exalo drilling services are also operating in the field of well testing. They provide Fluid recovery after hydraulic fracturing which proves efficient in well testing. NESR provides sand management and surface testing onshore and offshore. They work with a multiphase flow meter. Companies are working to provide effective services to their clients. For instance, in Aug 2020, Covenant Testing Technologies, LLC announced that they have partnered with Stuart Pressure Contralto provide Well Flow & Sand Management and Pressure Control Solutions.
Some major players in the marketinclude Schlumberger Ltd, Weatherford International plc, Minerals Technologies Inc., TETRA Technologies, The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in June 2020, Oilfield services giant Schlumberger has announced new technologies which will work in the area of remote good operations and downhole reservoir testing. Performance live is a service that helps in optimizing well-testing operations.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Application
- By well type
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-Schlumberger Ltd, Weatherford International plc, Minerals Technologies Inc., TETRA Technologies.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Well Testing Service Market Report by Segment
By Application
- Down hole Well Testing
- Surface Well Testing
- Reservoir Sampling
- Others
By well type
- Horizontal
- Vertical
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