According to a new report by Expert Market Research, ‘Global Well Testing Services Market Report and Forecast 2020-2025’, the well testing services market is expected to grow at a CAGR of over 2%, during 2020-2025.
Competitive Landscape & Supplier Analysis:
Expro International Group
Halliburton Energy Services, Inc.
Tetra Technologies Inc. (NYSE: TTI)
Greene’s Energy Group
Weatherford International plc (OTCMKTS: WFTLF)
Schlumberger Limitedc (NYSE: SLB)
SGS SA (SWX: SGSN)
TechnipFMC plc (NYSE: FTI)
Others
Well testing can be defined as the process of data acquisition to gather the information and data to understand the reservoir properties and the rock formation. The overall objective of well testing is to understand the reservoirs capability to produce hydrocarbons like oil, gas, condensates, and so on. The process of well testing has multiple applications which can be grouped as formation pressure measurement, permeability and skin interpretation, fluid characterization, and reservoir characterization. The well testing is conducted at each and every stage of the well that is exploration, development, and production. The well testing market grew considerably in the recent past and will continue to grow. The growth is affected by the recent decline in the oil prices globally with regions like South America and Europe affected the most.
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On the basis services, well testing service market has been segmented into down-hole testing, real time well testing, reservoir sampling & analysis and surface well testing. Real time well testing was the leading service segment and is expected to remain the largest sector over the forecast period owing to optimized & stabilized results. Down-hole testing services utilize packers used for the measurement of flow rates and are the second largest segment currently and are projected to witness rapid growth in near future.
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