Digital oil field technology is a combination of IT
and automation & instrumentation technologies, as an improvement of the
existing technologies in the oil & gas industry. This integrated operations
technology makes the analysis faster and easier with software involved in
efficient data management, provides more realistic image of the reservoir and
the availability of resources, helps to optimize process required for
production, and renders much safer operations with the inclusion of remote
surveillance and collaborated environments. Digital oil field technology
includes segments of IT such as outsourcing, software services, and equipment
based expenditure. Automation & instrumentation is another segment of
digital oil field market, which includes key networking processes and
communication technologies such as SCADA, PLC, smart well, safety systems, and
wireless systems.
Digital
oil field is an integrated operation system that helps in reservoir
optimization, production optimization, drilling and well completion, and other
processes. The above mentioned are the process improved by the implementation
of the technology. This smart field based technology reinvents production using
new techniques such as creation of smart wells and establishing agile
communication using remote surveillance & operating and high-end
technology.
Revival of the older methodologies in the oil &
gas sector became essential to increase and minimize the deficit in supply. The
high average age of oil & gas industry professionals indicated more
retirements in the near future, resulting in reduction of man power in the
industry; hence this was met by automated production platforms, intelligent
machinery and systems. The safety factors proved to be high after installing
digital oil field technology based machines and systems. These are the reasons
which are driving the market apart from the regulations from government bodies
in some parts of the world.
Exploration for new and unconventional hydrocarbon
sources has seen growth in the oil & gas sector. Some of the regions found
high unconventional resources, the highest in the North American region. The
usage of unconventional resource to complete the energy requirements is slowly
rising along with the acceptance of such resources. The exploration activities
in the Arctic Circle are waiting to meet environmental regulations and are
expected to contribute to the global oil & gas production in the future.
The fastest growing region is expected to be the Middle East, followed by
Asia-Pacific. The most active market currently is North America.
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We have used various secondary sources—encyclopedia,
directories, and databases to identify and collect information useful for this
extensive commercial study of this market. The primary sources, experts from
related industries and suppliers, have been interviewed to obtain and verify
critical information as well as to assess the future prospects of this smart
wells based digital oil field technology.
We have also profiled leading players of this
industry with their recent developments and other strategic industry
activities, namely Schlumberger Ltd (U.S.), Halliburton Company (U.S.), Baker
Hughes Incorporated (U.S.), Emerson Electric Company (U.S.), ABB Group
(Switzerland), Microsoft Corporation (U.S.), International Business Machines
Corporation (U.S.), TIBCO Software Inc. (U.S.), Tata Consultancy Service
(India), Accenture Plc (Ireland), Redline Communications Group Inc. (Canada),
Paradigm Ltd (U.S.), and Kongsberg Oil and Gas Technologies AS (Norway).
Scope
of the report
This research report categorizes the global market
for digital oil field on the basis of applications, service types, process
types, and geography; forecasting revenue and analyzing trends in each of the
submarkets.
On
the basis of services: The market is segmented
on the basis of service segments of the technology—IT and automation &
instrumentation including technologies, such as SCADA, PLC, DCS, etc., are the
three segments that define digital oil field technology. Each service segment
is further described in detail in the report with revenue forecasted for each
service.
On
the basis of process focus type: Product
optimization, reservoir optimization, drilling and others.
On
the basis of geography: North America,
Western Europe, Middle East, Asia-Pacific, ROW, and key countries in every
region.
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