Dublin, Jan. 12, 2015 (GLOBE NEWSWIRE) -- Research and Markets (http://www.researchandmarkets.com/research/8gjm6k/reservoir) has announced the addition of the "Reservoir Analysis Market by Service, by Application and by Geography - Global Trends & Forecasts to 2014 - 2019" report to their offering.
Reservoir analysis market has been witnessing high growth owing to the continuously growing energy demand. Need for enhanced recovery of hydrocarbons, new field developments, and flexibility to adapt to reservoir uncertainty, are expected to be major drivers globally for the reservoir analysis market. This reservoir analysis market is estimated to reach about $22,432.0 million by 2019, signifying a noticeable growth rate of over 10.6% from 2014-2019.
Reservoir analysis is used to determine the flow related properties of the reservoir fluids and formation. It requires assessment of the rock volume, net-to-gross ratio, porosity, and permeability of the reservoir fluids. Reservoir analysis provides input for completion design, production facility design, and establishment of refining properties. It develops a reservoir model to obtain maximum hydrocarbon recoveries with minimum cost through optimization.
Some numerical models have to be developed based on porous media, physicochemical interaction of chemicals with rock, phase behavior of complex fluids, rock mechanics, electromagnetic properties, and chemical/biochemical reactions to understand the behavior of rocks. The key reservoir analysis service categories include reservoir sampling services, data acquisition & monitoring and reservoir simulation & geo modeling.
Maximization of hydrocarbon recovery, new field development, and emerging energy demand are the most important drivers for the reservoir analysis services market. Reservoir Analysis services are used to
simulate the behavior of fluids within the reservoir under different sets of conditions and to find the optimal production techniques that are expected to maximize the production. These services comprise determining reservoir architecture, establishing fluid-flow trends, constructing reservoir model, and identifying reserve growth potential.
Currently, North America dominates the reservoir analysis market. This dominance is seen mainly due to continuous and large increment in the U.S. exploration and production activities. The new field development and unconventional hydrocarbon recovery and its growth are important reasons for the growth of the reservoir analysis market. North America has the highest market share also because of favorable regulations in the region.
The Global Reservoir Analysis Market' report categorizes the reservoir analysis market, by services, by application, and by geography. The market has been studied by considering various regions such as North America, South America, Europe, Asia-Pacific, the Middle East, and Africa. North America is expected to lead the global market in the next five years, while, Asia-Pacific is expected to grow swiftly at a higher CAGR than any other region during the forecast period. North America and Middle East are the other quickly growing markets.
The study also includes brief analysis of different strategies adopted by the key market players to increase their market presence which include contract agreements, mergers & acquisition, and new product launch, among others. Schlumberger (U.S.), Halliburton (U.S.), Baker Hughes (U.S.), Weatherford International Inc. (U.S.), and SGS SA (Switzerland) are some of the market leaders, in terms of growth strategies and reservoir analysis service providers.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Reservoir Analysis Market, By Services
8 Reservoir Analysis Market, By Application
9 Reservoir Analysis Market, By Region
10 Competitive Landscape
11 Company Profiles
- Als Oil & Gas
- Baker Hughes
- CGG SA
- Core Laboratories
- Expro Group
- Roxar Software Solutions as
- SGS SA
- Schlumberger Ltd.
- Trican Well Service Limited
- Weatherford International Ltd.
For more information visit http://www.researchandmarkets.com/research/8gjm6k/reservoir
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Source:Research and Markets