Keywords: Multiphase Flow Metering (MPFM), Well Testing, Well Monitoring, Production Allocation, Reservoir Management, Multiphase, Global Market Research Study, Market Forecast, Market Size
The worldwide market for multiphase flow metering (MPFM) solutions will decline slightly this year due to low oil prices but should recover and grow more robustly over the next four years, according to a new ARC Advisory Group study.
According to Senior Analyst Tim Shea, the principal author of ARC’s “Multiphase Flow Metering Solutions Global Market Research Study”, “The market for multiphase flow metering solutions will grow robustly across all project location segments, but subsea and onshore segments will experience the fastest growth. The need for subsea designed multiphase flow metering solutions is very strong as many projects are not feasible without deploying these specially engineered units. Hydraulic fracturing and directional drilling activities continue in North America and more users are realizing the need for and benefits of continuous real-time multiphase flow measurements in these demanding applications.
Multiphase Flow Meter Solutions Benefit Broad Base of Applications
The major applications for which MPFM solutions have been particularly effective include reservoir monitoring, production allocation, well testing, and well monitoring as well as artificial lift and multiphase pumping optimization. ARC forecasts healthy growth across all the applications as demand for MPFM is strong and the need very real. Users deploying MPFMs obtain a much better understanding of the reservoir and flow conditions and can access real-time well testing and well monitoring data. This enables reservoir engineers to develop a better understanding of changes in the overall reservoir and make any necessary adjustments.
MPFM Technology Solutions Gaining Strong Traction
The market for MPFM solutions is comprised of two main technology categories: radioactive-based units and non-radioactive units. The study examines the relative market uptake for each technology, which offers the largest market opportunity, and the forecasted growth for both non-radioactive and radioactive based MPFM units.
Robust Growth in Selected Regions
ARC research indicates a high concentration of MPFM deployment in subsea and onshore projects in selected regions. The study provides a detailed forecast on which regions will see the fastest growth and why.
For more information on this study, please visit our Market Research section.