Reservoir Analysis Market Technology Breakthroughs & New Opportunities by 2022

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Reservoir Analysis Market

According to the market research report by MarketsandMarkets, The reservoir analysis market, by value, is expected to grow at a CAGR of 4.11%, from 2017 to 2022, to reach a market size of USD 8,954.9 million by 2022. The market in North America is estimated to be the largest market for reservoir analysis, followed closely by Asia-Pacific. The North American market is also projected to be the fastest growing market during the forecast period. Low international crude oil prices have upset the traditional well production economics, whereas, the key factors that would drive the reservoir analysis market during the forecast period includes maximizing hydrocarbon recovery, the increasing shale gas production, and the increased reliability on reservoir analysis due to technological advancements. The growth of the reservoir analysis market is driven by the development of unconventional resources.

The increasing production from unconventional resources, in the North American region is driving the reservoir analysis market in this region. With regard to the application segment, the reservoir analysis market is segmented into onshore and offshore. The onshore segment is expected to dominate the reservoir analysis market and is also expected to grow at the fastest rate during the forecast period. Onshore applications are quite famous in the Middle East and North America, where maximum number of oilfields are located onshore.

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Why exploring unconventional reservoir continues to offer more opportunities?

Reservoir analysis of unconventional plays is based on same principles and workflows as in conventional plays, but requires additional specialized knowledge. The flow regime, fluid properties, and petro physics in unconventional reservoir vary from conventional reservoir. The well stimulation (i.e. fracking) and completion technology need to be separately designed for these types of reservoirs. Due to continuously growing energy demand, operators are now developing more complex and costly unconventional oil & gas plays. Understanding the geo-mechanical behavior of such systems throughout the production lifetime then becomes inevitable. Planning successful completions and production of unconventional plays requires a detailed knowledge of reservoirs heterogeneity and anisotropy. Reservoir analysis services aids to understand these effects by measuring and modeling horizontal and vertical variations in mineralogical and mechanical properties, as well as the distribution and characterization of faults and natural fractures that influence hydraulic fracturing and production rates.

The leading players in the reservoir analysis market are

  • Schlumberger Limited (U.S.),
  • Halliburton Company (U.S.),
  • Baker Hughes Incorporated (U.S.),
  • Weatherford International, PLC (Switzerland),
  • Roxar Software Solutions AS (Norway),
  • SGS SA (Switzerland),
  • Core Laboratories (U.S.),
  • ALS Oil & Gas (Australia),
  • CGG SA (France),
  • Expro International Group Holding, Ltd. (U.K.),
  • Trican Well Service Limited (Canada) and among others.

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Why identifying small scale reservoir compartments remain a major challenge?

Reservoir compartments deal with faults, fractures, and thin layers in any reservoir. Reservoir compartmentalization can be caused by sealing faults or depositional discontinuities in any reservoir. It can have an adverse effect on oil or gas recovery factors by reducing the efficiency of production well. Many under-performing field developments had unidentified compartments as a root cause. Thus, it is a huge challenge for reservoir analysis market to characterize reservoir compartments as early as possible. One factor which leads to reservoir compartmentalization is disequilibrium in the fluid system in different parts of the reservoir, caused by variations in pressure, fluid contacts, fluid chemicals, or physical properties.

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