The report recognizes the following companies as the key players in the Global Onshore Oil and Gas Market: BP plc, Chevron Corp., ExxonMobil Corp., Royal Dutch Shell plc and Total SA.
Other Prominent Vendors in the market are: ConocoPhillips, Eni, Petrobras and Statoil.
The report said: “Advances in technology in onshore oil and gas production is one of the majorv trends in this market as through improvements in production output, redeveloping existing oilfields, facilitating production from unconventional resources such as shale formations, and enhancing well management. Advances in drilling techniques, the development and determination of reserves, well log interpretation, the development of well simulation models, and intelligent well completion technology will significantly increase the onshore production of oil and gas.”
According to the report, one of the major drivers of this market is the increased demand for oil and gas worldwide, which will encourage a substantial investment in E&P activities to meet this growing demand. The increased demand for oil and gas will drive substantial investment in state-of-the-art technology-enhanced oil recovery, thus ensuring high oil production.
Further, the report states that one of the main challenges confronting the market is the political instability in the Middle East, which affects investment in the region. This directly affects the capital returns and hinders the growth of the Global Onshore Oil and Gas market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.