According to the strategic procurement experts, the growth of global well intervention services market is driven by the increased demand for energy, the rise in oil and gas production, and discovery of the new source of energy (such as shale gas).
LONDON: The procurement research report on the well intervention services market is an indispensable part of SpendEdge’s utilities category portfolio and offers a thorough analysis of the key factors influencing strategic sourcing decisions, pricing models, supply market, and procurement best practices. Furthermore, it also offers profound insights into the supply chain management, key market developments, and demand-supply shifts to help sourcing and procurement experts make smart procurement decisions.
The demand for energy is rising predominantly from developing countries, such as India and China, due to the growing population and increasing standard of living in these nations. Increase in the demand for energy will create a demand for better management of the oil extraction from the existing reserves in an efficient manner. This creates the demand for well intervention service, which is driving the global well intervention services market.
“Purchasing managers must engage with well intervention service providers that facilitate integrated well intervention services, including drilling, evaluation, completions, production, intervention, and abandonment services,” says Tridib Bora, a utilities industry procurement research specialist at SpendEdge.
Sand management helps to maintain oil production at an optimum level, reduce cost in the long term, and minimize erosion in the well. Purchasing managers often fail to get the required assistance in sand management while procuring well intervention services.
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