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Dublin, July 20, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/5gv2km/global_subsea) has announced the addition of the "Global Subsea Well Access Market 2015-2019" report to their offering.
The global subsea well access market to grow at a CAGR of 5.9% over the period 2014-2019
Subsea well access is an equipment used to ensure that subsea drilling and intervention activities are carried out efficiently. It is used to ensure the safe and reliable production from the field as the operators face increasing need for enhanced recovery rates and to extend exploration activities into the deeper and harsher territories.
Technological innovations not only increase the production capacity of the wells but also help in maintaining the ecology of the excavation area. The key vendors of the global well intervention services market have been investing heavily in their R&D to develop their process innovation. Riserless light-well intervention technique has been a great innovation in recent years and promises to change the market dynamics considerably during the forecast period.
According to the report, the global oil and gas consumption has seen a marked increase worldwide. The shift in focus toward offshore production favors market growth because of increased requirements for well interventions.
Further, the report states that the capital-intensive nature of the subsea well access equipment because of high technical expertise and complex procedures hinders the market growth.
The market can be segmented into two based on product type:
Other prominent vendors
Key Topics Covered:
For more information visit http://www.researchandmarkets.com/research/5gv2km/global_subsea
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