Tag Archives: Reservoir Analysis Services

Reservoir Analysis Market to exceed $$8.95 Billion by 2022

According to the new market research report “Reservoir Analysis Market by Service (Geo Modeling, & Reservoir Simulation, Data Acquisition & Monitoring, and Reservoir Sampling), Application (Onshore & Offshore), Reservoir Type (Conventional & Unconventional), and Region – ****** Forecast to 2022”, published by MarketsandMarkets™, The reservoir analysis market, by value, is expected to grow at a CAGR of 4.11%, from 2017 to 2022, to reach a market size of USD 8,954.9 million by 2022. The market in North America is estimated to be the largest market for reservoir analysis, followed closely by Asia-Pacific. The North American market is also projected to be the fastest growing market during the forecast period. Low international crude oil prices have upset the traditional well production economics, whereas, the key factors that would drive the reservoir analysis market during the forecast period includes maximizing hydrocarbon recovery, the increasing shale gas production, and the increased reliability on reservoir analysis due to technological advancements. The growth of the reservoir analysis market is driven by the development of unconventional resources.