In prior industry cycles, declines in rig activity have not affected the coiled-tubing (CT) market immediately. In fact, an increase in the CT sector has been observed in some past down cycles. CT had been predominantly an intervention method used to aid or maintain existing production. The CT industry, like all other sectors in our industry, will respond to today’s new market conditions. Technical innovation will continue. The focus of this innovation may shift toward improving processes and their efficiency—namely, "doing more with less."
The technical contributions highlighted this year focus on matrix stimulation of carbonate and unconventional reservoirs. Matrix stimulation encompasses pumping processes used to improve the connection between the wellbore and the reservoir. They are effective in a wide range of lithologies and have been successful in most types of completions. The defining characteristic of matrix stimulation is the use of chemical systems to dissolve material in the near-wellbore region pumped below pressures that propagate reservoir fractures.
The roles of wellbore tubulars in delivering continued well integrity are diverse, critical, and congruent throughout the life of the well. Wellbore tubulars are integral to providing well-integrity barriers. With more-complex high-pressure/high-temperature wells being drilled, the industry is adopting a more "life of the well" engineering approach in the area of wellbore-tubular design.
Worldwide, more oil is left behind in reservoirs than is recovered. The potential of EOR is significant: A 1% increase in the efficiency of hydrocarbon recovery could deliver 3 additional years of annual global production at today’s level. Developing these EOR plays requires the willingness to step beyond our comfort zones and the commitment to longer-term project timelines, which may require a piloting or demonstration phase before large-scale application.