Wednesday 12 July 2023

As oil and gas production companies look for efficient and cost-effective methods of increasing their output, the well intervention market is set to get a healthy boost. Spending on interventions – a way to extract additional resources from an existing well instead of drilling a new one – is projected to jump by almost 20% this year and total $58 billion. Rystad Energy’s modeling shows this is just the start of a surge in the coming years as the focus on efficiency intensifies.

The intervention rate – how many oil and gas wells go through the intervention process – is forecast to reach 17% in 2027. This would total about 260,000 wells globally.

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