Coiled Tubing Industry Outlook: Advancement in technology

Posted On Apr, 28, 2017

The modern day concept of coiled tubing technology was developed in the early 1950s under the U.S. patent 2,567,009. The patent was named “Equipment for Inserting Small Flexible Tubing into High Pressure Wells”. Coiled tubing is an electrically welded tube, which is manufactured with one longitudinal seam. The seam is formed by high-frequency induction welding without the addition of filler metal. 

The coiled tubing can be applied in both onshore and offshore oil & gas fields. The technique is gaining popularity as it is helpful for extending life of a producing well by providing well cleaning and completion facilities in the well. These services are included under well intervention service. Coiled tubing services can be used for deployment in wells while continuously circulating fluids. Another advantage of CT is, it has ability to work with current surface pressure present (no need to stop the well production), minimal formation damage when operation is performed, and it also reduces the service time & increase personnel safety.

With the growing demand for coiled tubing usage in upstream oil & gas industry, companies are also engaging themselves for developing intelligent coiled tubing (ICT). ICT systems combine real-time downhole data monitoring and power. The use of these ICT systems improves operational efficiency significantly while accelerating well recovery. Some of the advantages of ICT are well stimulation, milling & cutting, gas lift, perforating & abrasive jetting, and cleanouts.

Some of the major companies operating in the coiled tubing industry are Schlumberger, Halliburton, Baker Hughes, Superior Energy and C & J Coiled Tubing. Some of these companies are involved in research & development activities and developing better CT technology and equipment used in it. Major companies operating in the market comprises of multinational conglomerates which include E&P companies, individual equipment & oilfield service corporations, microseismic and proppants companies

Some of the top companies operating in CT industry

Companies

CT units installed in 2016

Schlumberger

269

Halliburton

180

Baker Hughes

148

Superior Energy

73

C & J Coiled Tubing

63

Cudd Pressure Control

52

Key Energy

44

Calfrac 44

44

Essential Coil and Stimulation

32

Archer

22

Surgutneftegas

22

Coiled tubing has several advantages and usage in upstream oil & gas industry. However, it also has some disadvantages, which includes huge cost of consumables, inability to rotate, high logistics service & expense of getting machines & equipment to the work site, limited drilling-fluids life is limited, limited equipment & experience manpower base, reduced torque, pump rates, & WOB, more tortuous path, and newer technology with lack of operator experience base. Despite as these disadvantages and limitations, some unique advantages to CT technology often outweigh the disadvantages.

  In-depth report on global coiled tubing technology market by Grand View Research:

http://www.grandviewresearch.com/industry-analysis/coiled-tubing-ct-market

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