Riserless Light Well Intervention Market Competitive Dynamics and Global Industry Outlook 2016 – 2024
It has been noticed that recovery rate is markedly less in subsea wells than in surface platforms because of highly complex well intervention and maintenance issues. To tackle the challenges, a riserless light well intervention is leveraged which conducts intervention to improve the recovery rate significantly. Not just that, it also helps in bringing down the cost of deepwater operations in mature subsea fields and saves time too. It is a technology that enables cost effective operations in existing subsea wells such as chemical treatment, repair, measurements, plug zone isolation, and scale removal, thereby augmenting production of oil.
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Riserless light well intervention operations are essentially conducted from a dynamically-positioned, purpose-built, intervention vessel. It carries out logging, gauging, plugging, re-perforating, and other downhole mechanical works to reduce flow restrictions. Riserless light well intervention system is a relatively new technology. Initially, it could function only in shallow water but on account of cutting-edge innovations in the domain of technology, it can now operate both in deep and ultra-deep water. A report by Transparency Market Research offers essential information about the global market for riserless light well intervention.
By shifting well intervention work from expensive drilling rigs to light monohull vessels, the cost of well intervention is lowered significantly. To put it in some perspective, it can slash cost by up to 60% than in a rig-based well access system. With rapid progress in technology, the number of subsea IOR project development is increasing and it has positively impacted the global market for riserless light well intervention vessel. A noticeable trend in the market is the long-term agreements between service providers and operators.
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