Wednesday 24 June 2015, Amsterdam
The report recognizes the following companies as the key players in the global digital oilfield market: Halliburton Company, Honeywell International Inc., National Oilwell Varco Inc., Schlumberger Ltd. and Weatherford International
Other Prominent Vendors in the market are: Accenture, Kongsberg Gruppen, Microseismic, Paradigm, Pason Systems, Petrolink, Redline Communications Group, Rockwell Automation and Siemens
Commenting on the report, an analyst said: “The demand for oil and natural gas is increasing worldwide due to a steadily growing population, economic growth, and rapid industrialization and urbanization. However, supply remains constant; thus, calling for the oil and gas industry to shift their focus to advanced oilfield technologies such as digital oilfields to meet the growing demand, and establish reserves for energy security needs.”
According to the report, digital oilfield technology will gain more prominence during the forecast period as it offers a high return on investment by increasing production efficiency. It provides concise, real-time, and accurate information, and allows better control and continuous monitoring of subsea infrastructure. In addition, automation and remote monitoring also reduce the need for high-cost labor.
Further, the report states that getting employees to embrace an entirely new method of operation is a hurdle in the implementation of this technology.
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.