The Global Wireline Services market recorded annual revenue of $6.34 billion in 2017 and is estimated to grow at a CAGR of 7.5% during the forecast period 2018-2023. Increasing oil production and aging reservoirs are the major drivers for the rapid growth of the wireline services market. Electric line is the dominating segment by the type of wireline services recording an annual revenue of $4.40 billion and is estimated to grow at a CAGR of 7.05% during the forecast period. Recovery segment is the fastest growing application for wireline services market owing to implementation on both onshore and offshore sectors. Wireline logging is the dominating application in 2017 by collecting annual revenue of $2.84 billion and is projected to grow steadily at a CAGR of 8.51% during the forecast period.
What are Wireline Services?
Wireline services usually refer to cabling technology used in oil and gas industry for well intervention, reservoir monitoring operations, logging, pipe recovery and completion. These services require less labor and consumes less time providing petro physical data that are further beneficial for controlling the process parameters. The tools inserted into the well for both wirelines and slicklines, workover and logging efforts, are very similar devices. A slickline is a thin cable introduced into a well to deliver and retrieve tools downhole, while a wireline is an electrical cable used to lower tools into and transmit data about the conditions of the wellbore called wireline logs. Usually consisting of braided cables, wirelines are used to perform wireline logging as well.
What are the major applications for Wireline Services?
The applications of wireline services include Wireline Intervention, Wireline Logging, Wireline Completion, Recovery and many more. Wireline intervention is an operation carried out on an oil or gas well during, or at the end of its productive life that alters the state of the well and well geometry, provides well diagnostics and manages the production of the well.
Market Research and Market Trends of Wireline Services Market
- C6 technologies, the oilfield technology company have introduced the world’s first application of innovative well intervention technology called ComTrac. ComTrac is the only system in the world that comprises a reel of spoolable 12-mm diameter semi-stiff carbon composite rod with electrical conductors. To date the technology has been proven to operate at lengths of up to 8 km. This is the first time the composite rod has been used with a tractor in this technology. This allows intervention far beyond capabilities of standard wireline technology in terms of load and length, particularly for horizontal wells. The scope includes fluid saturation logging, fishing, and perforating with long sections of high shot density guns. The stiffness and low friction of the carbon composite rod eradicate the problem of stick and slip experienced with wireline cables. This allows ComTrac to deliver extraordinary data quality and repeatability, particularly for high resolution logging services such as fluid saturation logs.
- Baker Hughes Inc. has come up with a solution for wireline services called Wireline Jars. A wireline jar is used by freeing stuck tools which produces a sudden, strong impact to the tool string rather than depending on wireline pulls alone. Mechanical or hydraulic jar technology is available for single and multiconductor wireline. The jar is inserted as close as possible to the cablehead. If the toolstring is stuck and the wireline pulling tension exceeds a preset value, the jar initiates a tensile strike to the stuck toolstring. Additional strikes can be applied to free the toolstring if the initial strike is insufficient. Each activation produces a strike force several times greater than the maximum achievable wireline overpull.
Who are the Major Players in Wireline Services Market?
The companies referred to in the market research report includes Archer Limited, Baker Hughes Inc., Basic Energy Services, China Oilfield Services Limited, Schlumberger Ltd., Superior Energy Service Inc., FMC Technologies Inc. and more than 25 companies.
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