Well intervention is a remedial operation carried out on an oil or gas well to restore or extend its producing life. Well intervention may be required due to flow restrictions in well, changes in reservoir characteristics, sand production, mechanical failure, or to provide access to stranded or additional hydrocarbon reserves. A typical well intervention service includes operations such as wireline, tractors, coiled tubing, and hydraulic workover. Typical downhole applications comprises well surveillance & diagnostics, implementation of reservoir management techniques, completion repair & re-entry drilling to access new producing intervals, and abandonment & well evaluation.

The vendor analysis provides information about the key players offering well intervention services and outlines the findings and analysis on how each type of well intervention provider performs in terms of product offerings and market activities. We have placed the vendors into four categories based on their performance in each criterion, namely “Visionary Leaders,” “Innovators,” ,“Dynamic Diffrentiator” and “Emerging Companies"

Vendors who fall in this category generally receive high scores for most evaluation criteria. They have a strong and established product portfolio and a very strong market presence. They also have strong business strategies.

Vendors who fall in this category are established players with good business strategies, such as mergers & acquisitions, partnerships, collaborations, alliances, and joint ventures, among others. However, they lack a good product portfolio and generally focus on a specific type of technology related to the product.

Innovators are vendors that have demonstrated substantial product innovations as compared to their competitors. They have very focused product portfolio. However, they have a moderate growth strategy for their business in this market.

Vendors who fall in this category have niche product offering and are beginning to establish their position in the market. They do not have very strong business strategies as compared to the other established vendors and cater only to a particular region, thus having a low global presence. Well intervention or well workover involves operations carried out on oil & gas wells to rework, manage, and analyze well conditions. Additionally, it can be utilized at any stage to maintain optimum production. Hence, there is potential for the growth of well intervention applications in the oil & gas industry. Well intervention applications have been categorized into onshore and offshore activities. The oil & gas industry is progressing at a rapid pace, driven mainly by increasing demand for petroleum products. The current scenario of depleting oil recovery rates from existing wells or conventional reservoirs, and the demand for hydrocarbons is fueling the need for well intervention services in both onshore and offshore regions. Hence, new technologies are being developed to meet the industry’s requirements. Well intervention services are widely used in onshore activities. Every oil well needs well intervention services periodically in different forms. These services are used mostly for oil wells and not gas wells. Declining oil prices impacted the onshore application segment, which had recorded a near double-digit growth before the decline in oil prices. Companies such as Schlumberger Limited (U.S.) and Weatherford International, Plc. (Switzerland) have cut down on investments in onshore activities owing to lack of profitability. Well intervention activities in offshore oilfield environments are comparatively more complex than onshore oil & gas fields. Offshore activities require advanced technologies, making the offshore market a capital intensive segment. At the same time, the cost of well intervention services in offshore fields is much higher as compared to onshore oil or gas wells. Offshore well intervention services have been categorized as light, medium, and heavy interventions, based on the number of days required for the intervention activity. Light intervention services take three to four days of vessel deployment and medium well intervention services take around four to 15 days, while vessel deployments that take more than 15 days fall under the heavy well intervention category.