Report

Coiled Tubing Market: Development, Opportunities and Market Outlook (2016-26)

There are number of problems that can occur during the production operation that can directly hamper the production of hydrocarbons. These problems may include changes in production characteristics, downhole plugging, fluid losses, etc. These well intervention operations were solved earlier by employing a workover rig. The introduction of coiled tubing technology has provided a cost effective technique to solve these well intervention operations unlike the workover rigs. Coiled tubing is defined as a continuous length of steel or composite tubing that is flexible to be wound on a large reel for easy transportation from one location to the other. The coiled tubing provides the following benefits:

  • Safe and efficient live well intervention operations
  • Rapid mobilization and rig up
  • Unlike workover rigs, the tubing is not removed from the hole which reduces the overall trip time
  • Ability to circulate while running in or pulling out
  • Reduced crew and personnel requirements
  • Cost and operation time is significantly reduced

The coiled tubing market is estimated to be valued at XX billion USD in 2016 and is expected to grow continuously at a CAGR of XX % during the forecast period of 2016 to 2026.

The tubing diameter generally ranges from 0.75 in. to 4 in., and single reel tubing lengths in excess of 30,000 ft. exist in the market. The coiled tubing operation is performed by employing a coiled tubing unit at the required site. The coiled tubing operation involves the following systems/components:

  • Actuating System: This system involves injector head, drum and guider. The injector head is responsible for lifting and running the coiled tubing during operations. The guider leads the coiled tubing to enter and exit the injector head as required. Furthermore, the drum is the most important component as it is responsible for winding the long coiled tubing.
  • Power System: This system provides the power to the coiled tubing operations and comprises of the components like engine, transfer case, hydraulic oil tank, accumulator, etc.
  • Control System: This system controls the action and running of the coiled tubing. The control system can be pneumatic, electric or hydraulic.
  • Truck Mounted/Trailer system: This system is responsible for moving the coiled tubing and associated components from one location to the other.<Blowout Prevention system: /li>
  • It mainly includes BOP, blowout box and lubricator. This system is responsible for sealing the pressure in wells and preventing blowouts during well intervention operations.

Coiled Tubing oilfield technology was initially developed for working on live, producing wells. With advanced technologies, this method has gained wider acceptance among the Oil & Gas industries in drilling services and advanced workover operations. The coiled tubing technology has applications in the following fields:

  1. Coiled Tubing Drilling: This is a relatively modern drilling technique and involves the use of coiled tubing instead of conventional drill pipe. Some of the advantages of coiled tubing drilling over conventional drilling are:
    • Reduced overall time for trip in and trip out
    • Better ability to drill underbalanced
    • Better well control capabilities
  2. Coiled tubing Logging: The logging tools can be attached at the bottom of the coiled tubing and run through the production tubing for detecting troublesome areas downhole during the production. This operation is also performed for logging horizontal wells
  3. Well Intervention and Production: Required tools such as fishing tools, etc. can be attached to the coiled tubing and run into the well in order to solve the well intervention problems
  4. Circulation and Injection: The coiled tubing can be used to circulate when the hydrostatic pressure of the mud is inhibiting the formation fluids to enter into the well. This involves injecting gas into the drilling mud in order to reduce its hydrostatic weight.

The vast applications and advantages provided by the coiled tubing technology have been the major drivers of the market. In addition, successful coiled tubing projects in offshore and other challenging areas, use of this technology in extracting unconventional resources, etc. have been the key drivers of the market. Challenges offered to the coiled tubing technology by HP/HT wells, buckling nature of tubing are some of the restraining factors to the market. However, focus on ultra deep water drilling, demand for large diameter coiled tubing, increasing horizontal reach are some of the growth opportunities of the market.

The vast applications and advantages provided by the coiled tubing technology have been the major drivers of the market. In addition, successful coiled tubing projects in offshore and other challenging areas, use of this technology in extracting unconventional resources, etc. have been the key drivers of the market. Challenges offered to the coiled tubing technology by HP/HT wells, buckling nature of tubing are some of the restraining factors to the market. However, focus on ultra deep water drilling, demand for large diameter coiled tubing, increasing horizontal reach are some of the growth opportunities of the market.

Kindly fill the details below to get the Table of Contents

By Technology

  • Actuating System
  • Power System
  • Control System
  • Truck Mounted/Trailer system
  • Blowout Prevention system

By Application

  • Drilling
  • Logging
  • Well Intervention and Production
  • Circulation and Injection

By Geography

  • North America
  • Europe
  • Asia Pacific
  • South & Central America
  • Middle East & Africa
  • Rest of the World (ROW)
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Coiled Tubing market
  • Market segmentation based on Technology, Application & Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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