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Report
GCC Well Testing Services Market, By Services (Real Time Well Testing, Downhole Well Testing, Reservoir Sampling, & Surface Well Testing), By Application (Onshore & Offshore), By Stage (Exploration, Appraisal, and Development, Production), By Region, Competition Forecast & Opportunities, 2027
Market Report I 2022-12-01 I 88 Pages I TechSci Research
GCC well testing services market is anticipated to grow at a rate of formidable CAGR in the forecast period, 2023-2027. Increasing energy demands worldwide are fueling the need for exploration and production activities. High-end investments in energy extraction and production by market players and concerned authorities and the use of advanced technologies and equipment to maximize the profit and minimize the losses are anticipated to fuel the GCC well testing services market in the next five years.
Well testing services include the services involved in acquiring data to boost the understanding of reservoir characterization and fluid properties. These tests are performed to provide faster, newer, and more precise testing results to optimize the well performance and lower the adverse environmental impact. The viability check is done in all three stages of well: exploration, development, and production. The information about the new well can be obtained by using well testing services like the economic feasibility and profitability of exploring and producing through a new well, which can be proven beneficial for taking necessary further steps.
Increase In Offshore Exploration and Production Activities Supports Market Growth
Rapid industrialization, improvement in the economic conditions, and the continuous rise in the population are increasing the energy demand worldwide. The growing disposable income of middle-class families is boosting the expenditure capacity of the consumers to buy advanced consumer electronic goods and automobiles for their enhanced comfort and convenience. Oil consumption is increasing day by day, and the demand for natural gas is witnessing a hike worldwide. High demand for fossil fuel from around the globe is making the market players increase their fuel production. Existing oil and gas reserves are aging rapidly, making the market players boost their search for unexplored hydrocarbon reserves. Fewer easy-to-access oil fields remaining across the globe are making the companies move into new areas and accelerate exploration activities in deep water and ultra-deepwater offshore regions. The high demand to explore and produce in deepwater areas and search of new explored reserves are expected to create lucrative opportunities for the GCC well testing services market growth in the forecast period.
High Focus on Unexplored Oil & Gas Reserves Boosts Market Growth
The oil and gas industry are considered as one of the major revenue-generating industries and the backbone of GCC economy. The global oil industry is making investments in research and development activities to find innovative solutions to sustain oil and gas production volume. The discovery of unconventional shale and tight oil and gas is witnessing exploration and commercialization of unconventional reserves. The presence of huge capital sources makes the exploration through unconventional sources a viable option as it requires the use of advanced technologies for extraction purposes. Market players are looking for economic opportunities to maximize their profits which is one of the primary reasons for adopting advanced well testing services by the oil and gas industries. Decreasing conventional sources and growing gas deficits are driving the monetization of unconventional oil and gas reserves in GCC economies which is expected to create lucrative opportunities for the GCC well testing services market.
Market Segmentation
The GCC well testing services market is segmented on the basis of services, application, stage, regional distribution, and company. Based on the services, the market is divided into real time well testing, downhole well testing, reservoir sampling and surface well testing. Based on the application, the market is divided into onshore & offshore. Based on the stage, the market is divided into exploration, appraisal, and development, production. To analyze the market based on the country, the GCC well testing services market is studied in countries namely Saudi Arabia, UAE, Oman, Kuwait, Qatar and Bahrain.
Market Players
SGS Middle East, Energy Services Limited Co., MB Petroleum Services, Gulf Energy, Middle East Oilfield Services, Halliburton Company, Schlumberger Limited, Tetra Technologies Inc., Weatherford International Ltd., AGR Group ASA, are among the major market players in the GCC platform that led the market growth of the GCC well testing services market.
Report Scope:
In this report, GCC well testing services market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- GCC Well Testing Services Market, By Services:
o Real Time Well Testing
o Downhole Well Testing
o Reservoir Sampling
o Surface Well Testing
- GCC Well Testing Services Market, By Application:
o Onshore
o Offshore
- GCC Well Testing Services Market, By Stage:
o Exploration
o Appraisal
o Development
o Production
- GCC Well Testing Services Market, By Country:
o Saudi Arabia
o UAE
o Oman
o Kuwait
o Qatar
o Bahrain
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in GCC well testing services market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on GCC Well Testing Services Market
4. Executive Summary
5. Voice of Customers
6. GCC Well Testing Services Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Services (Real Time Well Testing, Downhole Well Testing, Reservoir Sampling, & Surface Well Testing)
6.2.2. By Application (Onshore & Offshore)
6.2.3. By Stage (Exploration, Appraisal, and Development, Production)
6.2.4. By Country
6.2.5. By Company
6.3. Product Market Map
7. Saudi Arabia Well Testing Services Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Services
7.2.2. By Application
7.2.3. By Stage
8. UAE Well Testing Services Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Services
8.2.2. By Application
8.2.3. By Stage
9. Oman Well Testing Services Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value
9.2. Market Share & Forecast
9.2.1. By Services
9.2.2. By Application
9.2.3. By Stage
10. Kuwait Well Testing Services Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value
10.2. Market Share & Forecast
10.2.1. By Services
10.2.2. By Application
10.2.3. By Stage
11. Qatar Well Testing Services Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value
11.2. Market Share & Forecast
11.2.1. By Services
11.2.2. By Application
11.2.3. By Stage
12. Bahrain Well Testing Services Market Outlook
12.1. Market Size & Forecast
12.1.1. By Value
12.2. Market Share & Forecast
12.2.1. By Services
12.2.2. By Application
12.2.3. By Stage
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends & Developments
15. Company Profiles
15.1. SGS Middle East
15.2. Energy Services Limited Co.
15.3. MB Petroleum Services
15.4. Gulf Energy
15.5. Middle East Oilfield Services
15.6. Halliburton Company
15.7. Schlumberger Limited
15.8. Tetra Technologies Inc.
15.9. Weatherford International Ltd.
15.10. AGR Group ASA
16. Strategic Recommendations
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