“The South American coiled tubing market is estimated to grow at a CAGR of 6.6 % from 2014 to 2019. Although Brazil has the largest market share of 28% in the South American coiled tubing market, the Rest of South America segment (including emerging countries such as Argentina and Columbia) is expected to grow at the fastest CAGR of 7.2% during the forecast period, 2014 to 2019. The growth of the coiled tubing market depends on several factors, including the increasing energy demand in the region. This energy demand can be fulfilled by discovering and developing new reservoirs and by improving production from existing ones. Other factors include introduction of new technologies, innovations, and improvements in existing services. Factors such as strict environmental regulations, government policies, and high competition compel companies to adopt new and better services for drilling and production. The discovery of new oil fields in South America is creating more growth opportunities for CT companies in South America.
Brazil is an important market in the South American region, having accounted for a market share of 28% in 2013. The Brazilian coiled tubing market is dominated by various international players.
In this report, the South American coiled tubing market has been broadly classified on the basis of type, application, and geography. The applications areas are offshore and onshore. Brazil, Venezuela, and Rest of South America have been considered for the geographic analysis of the South American market.
Rest of South America (including Columbia, Argentina) is estimated to grow at the fastest CAGR from 2014 to 2019, followed by Venezuela and Brazil. Though Venezuela and Brazil have the highest production in South America, a large number of brown field developments, well reinforcements, and well intervention coiled tubing have led to the high growth in the Rest of South America segment.
Major companies operational in this market are Halliburton, Baker Hughes, Weatherford International, and Schlumberger. These companies are major providers of well intervention services for the South American NOC’s and as well as for IOC’s. Schlumberger has the highest coiled tubing fleet among these companies in South America, followed by Halliburton and Baker Hughes.
Among the sub-segments of the coiled tubing market, the well intervention segment was valued at $232.0 million in 2013 and is estimated to reach $348.6 million by 2019. The high exploration and development activities, along with the use of secondary and tertiary methods to improve the recovery from wells, have led Venezuela to be the largest contributor in the well intervention segment of South America. The Argentine segment is expected to grow at the fastest rate from 2014 to 2019, to reach $91.1 million by 2019, from $58.1 million in 2013.
Apart from well intervention, the CT well cleaning and pumping services segment is expected to reach $93.8 million by 2019, while the CT well completion & mechanical operations segment is expected to reach $254.9 million by 2019.
”
“TABLE OF CONTENTS
1 INTRODUCTION 10
1.1 OBJECTIVES OF THE STUDY 10
1.2 MARKET SEGMENTATION & COVERAGE 11
1.3 STAKEHOLDERS 11
2 RESEARCH METHODOLOGY 12
2.1 INTEGRATED ECOSYSTEM OF COILED TUBING SERVICES MARKET 13
2.2 ARRIVING AT THE COILED TUBING SERVICES MARKET SIZE 14
2.2.1 TOP-DOWN APPROACH 14
2.2.2 BOTTOM-UP APPROACH 16
2.2.3 DEMAND-SIDE APPROACH 16
2.2.4 MACROINDICATOR-BASED APPROACH 18
2.3 ASSUMPTIONS 19
3 EXECUTIVE SUMMARY 20
4 MARKET OVERVIEW 22
4.1 INTRODUCTION 22
4.2 COILED TUBING SERVICES MARKET: COMPARISON WITH PARENT MARKET 23
4.3 MARKET DRIVERS AND INHIBITORS 24
4.4 KEY MARKET DYNAMICS 25
4.5 SOUTH AMERICA DEMAND-SIDE ANALYSIS 27
5 SOUTH AMERICACOILED TUBING SERVICES MARKET, BY APPLICATION 28
5.1 INTRODUCTION 29
5.2 SOUTH AMERICA DEMAND-SIDE ANALYSIS 30
5.3 SOUTH AMERICA COILED TUBING COILED TUBING SERVICES MARKET IN ONSHORE SERVICES, BY GEOGRAPHY 31
5.4 SOUTH AMERICA COILED TUBING IN OFFSHORE, BY GEOGRAPHY 32
6 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY TYPE 34
6.1 INTRODUCTION 35
6.2 SOUTH AMERICA COILED TUBING SERVICES MARKET, TYPE COMPARISON WITH OILFIELD SERVICES MARKET 36
6.3 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY GEOGRAPHY 38
6.4 SOUTH AMERICA WELL INTERVENTION, BY GEOGRAPHY 39
6.5 SOUTH AMERICA DRILLING MARKET, BY GEOGRAPHY 40
6.6 SNEAK VIEW: SOUTH AMERICA COILED TUBING SERVICES MARKET, BY TYPE 41
7 COILED TUBING SERVICES MARKET, BY GEOGRAPHY 42
7.1 INTRODUCTION 43
7.2 VENDOR-SIDE ANALYSIS 44
7.3 BRAZIL COILED TUBING SERVICES MARKET 45
7.3.1 BRAZIL COILED TUBING SERVICES MARKET, BY APPLICATION 45
7.3.2 BRAZIL COILED TUBING SERVICES MARKET, BY TYPE 47
7.4 VENEZUELA COILED TUBING SERVICES MARKET 49
7.4.1 VENEZUELA COILED TUBING SERVICES MARKET, BY APPLICATION 49
7.4.2 VENEZUELA COILED TUBING SERVICES MARKET, BY TYPE 51
8 SOUTH AMERICA COILED TUBING SERVICES MARKET: COMPETITIVE LANDSCAPE 53
8.1 SOUTH AMERICACOILED TUBING SERVICES MARKET: COMPANY SHARE ANALYSIS 53
8.2 COMPANY PRESENCE IN COILED TUBING SERVICES MARKET, BY TYPE 54
8.3 MERGERS & ACQUISITIONS 54
8.4 EXPANSIONS 56
8.5 OTHER DEVELOPMENTS 57
9 COILED TUBING SERVICES MARKET, BY COMPANY 58
9.1 BAKER HUGHES INC. 58
9.1.1 OVERVIEW 58
9.1.2 KEY FINANCIALS 58
9.1.3 PRODUCT AND SERVICE OFFERINGS 60
9.1.4 MMM VIEW 61
9.2 HALLIBURTON CO. 62
9.2.1 COMPANY FINANCIALS 62
9.2.2 PRODUCT AND SERVICE OFFERINGS 64
9.2.3 COMPANY DEVELOPMENTS 65
9.2.4 MMM VIEW 66
9.3 WEATHERFORD INTERNATIONAL PLC 67
9.3.1 COMPANY FINANCIALS 67
9.3.2 PRODUCT AND SERVICE OFFERINGS 68
9.3.3 COMPANY DEVELOPMENTS 70
9.3.4 MMM VIEW 71
9.4 SCHLUMBERGER LTD. 72
9.4.1 OVERVIEW 72
9.4.2 KEY OPERATIONS DATA 72
9.4.3 KEY FINANCIALS 73
9.4.4 PRODUCT AND SERVICE OFFERINGS 74
9.4.5 RELATED DEVELOPMENTS 76
9.4.6 MMM VIEW 77
9.5 CALFRAC WELL SERVICES 78
9.5.1 PRODUCT & SERVICES 78
9.5.2 KEY FINANCIALS: 78
9.5.3 RECENT DEVELOPMENT 79
9.5.4 MMM VIEW 79
9.6 TRICAN WELL SERVICE 80
9.6.1 PRODUCT & SERVICES 80
9.6.2 COMPANY FINANCIALS 80
9.6.3 COMPANY DEVELOPMENTS 81
9.7 AKER SOLUTIONS ASA 82
9.7.1 COMPANY FINANCIALS 82
9.7.2 PRODUCT & SERVICES 83
9.7.3 COMPANY DEVELOPMENTS 85
9.7.4 MMM VIEW 85
10 APPENDIX 86
10.1 CUSTOMIZATION OPTIONS 86
10.1.1 PRODUCTS & SERVICES BENCHMARKING ANALYSIS 86
10.1.2 REGULATORY FRAMEWORK 86
10.1.3 IMPACT ANALYSIS 86
10.1.4 CURRENT INDUSTRY CHALLENGES 86
10.1.5 HISTORICAL DATA & TRENDS 86
10.1.6 OILFIELD SERVICES IN DEPTH VALUE CHAIN ANALYSIS 86
10.2 RELATED REPORTS 87
10.3 INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE 88
10.3.1 RT SNAPSHOTS 89
“
“LIST OF TABLES
UU
TABLE 1 GLOBAL COILED TUBING PEER MARKET SIZE, 2013 (USD MILLION) 15
TABLE 2 SOUTH AMERICA COILED TUBING SERVICES APPLICATION MARKET,
2014 (USD MILLION) 17
TABLE 3 SOUTH AMERICA COILED TUBING SERVICES MARKET: MACROINDICATORS,
BY GEOGRAPHY, 2013 18
TABLE 4 SOUTH AMERICA COILED TUBING SERVICES MARKET: COMPARISON WITH PARENT MARKET, 2013 – 2019 (USD MILLION) 23
TABLE 5 SOUTH AMERICA COILED TUBING SERVICES MARKET: DRIVERS AND INHIBITORS 24
TABLE 6 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY APPLICATION,
2013 – 2019 (USD MILLION) 25
TABLE 7 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY TYPE,
2013 – 2019 (USD MILLION) 26
TABLE 8 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 26
TABLE 9 SOUTH AMERICA COILED TUBING SERVICES MARKET: COMPARISON WITH APPLICATION MARKETS, 2013 – 2019 (USD MILLION) 27
TABLE 10 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY APPLICATION,
2013 – 2019 (USD MILLION) 29
TABLE 11 SOUTH AMERICA COILED TUBING SERVICES MARKET: COMPARISON WITH APPLICATION MARKETS, 2013 – 2019 (USD MILLION) 30
TABLE 12 SOUTH AMERICA COILED TUBING IN ONSHORE SERVICES, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 31
TABLE 13 SOUTH AMERICA COILED TUBING ON OFFSHORE, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 32
TABLE 14 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY TYPE,
2013 – 2019 (USD MILLION) 35
TABLE 15 SOUTH AMERICA COILED TUBING SERVICES MARKET: TYPE COMPARISON WITH PARENT MARKET, 2013–2019 (USD MILLION) 37
TABLE 16 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY GEOGRAPHY,
2013–2019 (USD MILLION) 38
TABLE 17 SOUTH AMERICA WELL INTERVENTION MARKET, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 39
TABLE 18 SOUTH AMERICA DRILLING MARKET, BY GEOGRAPHY, 2013 – 2019 (USD MILLION) 40
TABLE 19 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 43
TABLE 20 SOUTH AMERICA: CT ACTIVE FLEET COUNT, BY COUNTRY, 2012 – 2013 (UNITS) 44
TABLE 21 BRAZIL COILED TUBING SERVICES MARKET, BY APPLICATION,
2012-2018 (USD MN) 46
TABLE 22 BRAZIL COILED TUBING SERVICES MARKET, BY TYPE, 2013 – 2019 (USD MILLION) 47
TABLE 23 VENEZUELA COILED TUBING SERVICES MARKET, BY APPLICATION,
2013 – 2019 (USD MILLION) 50
TABLE 24 VENEZUELA COILED TUBING SERVICES MARKET, BY TYPE,
2013 – 2019 (USD MILLION) 51
TABLE 25 COILED TUBING SERVICES MARKET: COMPANY SHARE ANALYSIS, 2013 (%) 53
TABLE 26 SOUTH AMERICA COILED TUBING SERVICES MARKET: MERGERS & ACQUISITIONS 54
TABLE 27 SOUTH AMERICA COILED TUBING SERVICES MARKET: EXPANSIONS 56
TABLE 28 SOUTH AMERICA COILED TUBING SERVICES MARKET: INVESTMENTS 57
TABLE 29 BAKER HUGHES INC.: KEY FINANCIALS, 2009 – 2013 (USD MN) 58
TABLE 30 NET SALES, BY BUSINESS SEGMENT, 2009-2013 (USD MILLION) 59
TABLE 31 NET SALES, BY GEOGRAPHICAL SEGMENT, 2009-2013 (USD MILLION) 59
TABLE 32 BAKER HUGHES INC.: CT ACTIVE FLEET COUNT, BY GEOGRAPHY,
2012 – 2013 (UNITS) 59
TABLE 33 SOUTH AMERICA: CT ACTIVE FLEET COUNT, BY COUNTRY, 2012 – 2013 (UNITS) 60
TABLE 34 KEY FINANCIALS, 2009 – 2013 (USD MILLION) 63
TABLE 35 NET SALES, BY BUSINESS SEGMENT, 2009-2013 (USD MILLION) 63
TABLE 36 NET SALES, BY GEOGRAPHICAL SEGMENT, 2009-2013 (USD MILLION) 63
TABLE 37 HALLIBURTON CO.: CT ACTIVE FLEET COUNT, BY GEOGRAPHY,
2012 – 2013 (UNITS) 65
TABLE 38 SOUTH AMERICA: CT ACTIVE FLEET COUNT, BY COUNTRIES, 2012 – 2013 (UNITS) 65
TABLE 39 KEY FINANCIALS, 2009 – 2013 (USD MILLION) 67
TABLE 40 NET SALES, BY BUSINESS SEGMENT, 2009-2013 (USD MILLION) 68
TABLE 41 NET SALES, BY GEOGRAPHICAL SEGMENT, 2009-2013 (USD MILLION) 68
TABLE 42 WEATHERFORD PLC: CT ACTIVE FLEET COUNT, BY GEOGRAPHY,
2012 – 2013 (UNITS) 69
TABLE 43 SOUTH AMERICA: CT ACTIVE FLEET COUNT, BY COUNTRIES, 2012 – 2013 (UNITS) 70
TABLE 44 SCHLUMBERGER LTD.: KEY OPERATION DATA, 2009-2013 (USD MN) 72
TABLE 45 SCHLUMBERGER LTD.: MARKET REVENUE, BY BUSINESS SEGMENTS,
2010-2013 (USD MN) 73
TABLE 46 SCHLUMBERGER LTD.: MARKET REVENUE, BY GEOGRAPHY, 2010 – 2013 (USD MN) 73
TABLE 47 SCHLUMBERGER LTD.: CT ACTIVE FLEET COUNT, BY GEOGRAPHY,
2012 – 2013 (UNITS) 74
TABLE 48 SOUTH AMERICA: CT ACTIVE FLEET COUNT, BY COUNTRY, 2012 – 2013 (UNITS) 74
TABLE 49 SERVICES OF CALFRAC WELL SERVICES 78
TABLE 50 KEY FINANCIALS, 2009-2013 (USD MILLION) 78
TABLE 51 SERVICES OF TRICAN WELL SERVICE 80
TABLE 52 KEY FINANCIALS, 2009-2013 (USD MILLION) 80
TABLE 53 NET SALES BY BUSINESS SEGMENT (USD MILLION) 81
TABLE 54 NET SALES BY GEOGRAPHICAL REGIONS, 2009-2013 (USD MILLION) 81
TABLE 55 AKER SOLUTIONS ASA: KEY FINANCIALS, 2009- 2013 (USD MILLION) 82
TABLE 56 NET SALES, BY BUSINESS SEGMENT, 2009-2013 (USD MILLION) 83
TABLE 57 NET SALES, BY GEOGRAPHICAL REGION, 2009-2013 (USD MILLION) 83
“
“LIST OF FIGURES
FIGURE 1 SOUTH AMERICA COILD TUBING MARKET: SEGMENTATION & COVERAGE 11
FIGURE 2 COILED TUBING SERVICES MARKET: INTEGRATED ECOSYSTEM 13
FIGURE 3 RESEARCH METHODOLOGY 14
FIGURE 4 TOP-DOWN APPROACH 15
FIGURE 5 BOTTOM-UP APPROACH 16
FIGURE 6 DEMAND-SIDE APPROACH 17
FIGURE 7 MACROINDICATOR-BASED APPROACH 18
FIGURE 8 SOUTH AMERICA COILED TUBING SERVICES MARKET SNAPSHOT 21
FIGURE 9 SOUTH AMERICA COILED TUBING SERVICES TYPES, BY GEOGRAPHY,
2014 (USD MILLION) 25
FIGURE 10 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY APPLICATION,
2013 – 2019 (USD MILLION) 29
FIGURE 11 SOUTH AMERICA COILED TUBING SERVICES MARKET IN ONSHORE SERVICES,
BY GEOGRAPHY, 2013 – 2019 (USD MILLION) 31
FIGURE 12 SOUTH AMERICA COILED TUBING SERVICES MARKET IN OFFSHORE,
BY GEOGRAPHY, 2013 – 2019 (USD MILLION) 32
FIGURE 13 SOUTH AMERICA COILED TUBING SERVICES MARKET, BY TYPE,
2013 – 2019 (USD MILLION) 35
FIGURE 14 SOUTH AMERICA COILED TUBING SERVICES MARKET: TYPE COMPARISON WITH OILFIELD SERVICES MARKET, 2013–2019 (USD MILLION) 36
FIGURE 15 SOUTH AMERICA COILED TUBING, BY GEOGRAPHY, 2013–2019 (USD MILLION) 38
FIGURE 16 SOUTH AMERICA WELL INTERVENTION, BY GEOGRAPHY,
2013 – 2019 (USD MILLION) 39
FIGURE 17 SOUTH AMERICA DRILLING MARKET, BY GEOGRAPHY, 2013 – 2019 (USD MILLION) 40
FIGURE 18 SOUTH AMERICA COILED TUBING SERVICES MARKET: GROWTH ANALYSIS,
BY GEOGRAPHY, 2012-2018 (USD MN) 43
FIGURE 19 BRAZIL COILED TUBING SERVICES MARKET OVERVIEW, 2014 & 2019 (%) 45
FIGURE 20 BRAZIL COILED TUBING SERVICES MARKET, BY APPLICATION,
2013-2019 (USD MILLION) 45
FIGURE 21 BRAZIL COILED TUBING SERVICES MARKET: APPLICATION SNAPSHOT 46
FIGURE 22 BRAZIL COILED TUBING SERVICES MARKET, BY TYPE, 2013 – 2019 (USD MILLION) 47
FIGURE 23 BRAZIL COILED TUBING SERVICES MARKET SHARE, BY TYPE, 2013-2019 (%) 48
FIGURE 24 VENEZUELA COILED TUBING SERVICES MARKET OVERVIEW, 2014 & 2019 (%) 49
FIGURE 25 VENEZUELA COILED TUBING SERVICES MARKET, BY APPLICATION,
2013-2019 (USD MILLION) 49
FIGURE 26 VENEZUELA COILED TUBING SERVICES MARKET: APPLICATION SNAPSHOT 50
FIGURE 27 VENEZUELA COILED TUBING SERVICES MARKET, BY TYPE,
2013 – 2019 (USD MILLION) 51
FIGURE 28 VENENZUELA COILED TUBING SERVICES MARKET SHARE, BY TYPE, 2013-2019 (%) 52
FIGURE 29 SOUTH AMERICACOILED TUBING SERVICES MARKET: COMPANY
SHARE ANALYSIS, 2013 (%) 53
FIGURE 30 COILED TUBING: COMPANY PRODUCT COVERAGE, BY TYPE, 2013 54
FIGURE 31 HALLIBURTON CO. REVENUE MIX, 2013 (%) 62
FIGURE 32 WEATHERFORD REVENUE MIX, 2013 (%) 67
FIGURE 33 AKER SOLUTIONS ASA, REVENUE MIX, 2013 (%) 82
“
