The worldwide market for oilfield multiphase flow metering solutions (MPFM) will grow robustly this year and even more so over the next five years according to a new ARC Advisory Group study.
According to Senior Analyst Tim Shea, the principal author of ARC’s Oilfield Multiphase Flow Metering Solutions Global Market Research Study, the market for multiphase flow metering solutions (MPFM) will grow robustly across all project location segments, but subsea and onshore segments will experience the fastest growth.
The need for subsea designed MPFM solutions is very strong as many projects are not feasible without deploying these specially engineered units.
Hydraulic fracturing and directional drilling is taking place at a torrid pace and more users are realising the need for and benefits from continuous real-time multiphase flow measurements.
The major applications for which MPFM solutions have been effective in handling include reservoir monitoring, reservoir management, production allocation, well testing, and well monitoring as well as artificial lift and multiphase pumping optimisation.
ARC is forecasting robust growth across all the applications as demand for MPFM is strong and the need is very real.
Users deploying MPFMs obtain a much better understanding of the reservoir and flow conditions, can access real-time well testing and well monitoring data which enables reservoir engineers to develop a better understanding of changes in the overall reservoir and make any necessary adjustments accordingly for better production plans, and also provide monitoring and control functionality within pumping systems.
The market for MPFM solutions is comprised of two main categories of technologies — those that are radioactive based units and those that are non-radioactive.
The share of radioactive based MPFM solutions, which are technically able to handle a broader base of applications, comprised the larger share of shipments while non-radioactive based MPFM solutions comprised the remainder.
ARC is forecasting robust growth for both non-radioactive and radioactive based MPFM units as the demand for MPFM solutions is strong and broad based across a number of different regions, countries, well types, oil reservoirs, and gas formations.