Increasing work - over efficiency in the Asia Pacific

Maintaining and increasing production volumes from existing wells and facilities is a major priority for operators in the Asia Pacific. The region suffers from a 10% annual decline in recovery, 80% of the basin’s fields are operating in the brownfield phase and a huge volume of well stock (40%-50%) is currently shut in and not
producing.

Globally there has also been a 25% increase in the abandonment of existing wells (Almukhaitah et al, Fonoiki 2013) and a 65% decline in the oil price, resulting in a huge cut in CAPEX for new field development (U.S. Energy Information Administration EICA 2015).