Research and Markets - Global Smart Oilfield Market 2016-2020 With Baker Hughes, CNPC, Halliburton, Honeywell International & Schlumberger Dominating

24 May, 2016, 05:10 ET from Research and Markets

DUBLIN, May 24, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Smart Oilfield Market 2016-2020" report to their offering. 

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The global smart oilfield market to grow at a CAGR of 4.1% during the period 2016-2020. 

Global Thoracic Surgery Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market. 

Smart oilfield involves the application of advanced software, hardware, and data analysis techniques to increase the E&P efficiency of oil and gas. In an era of ever-growing energy demand and depletion of easy oil, smart oilfields facilitate in maximizing oilfield recovery by reducing downtime. These oilfields increase the ROI and profitability through effective integration of workflows and design, and by reducing production costs. The workflow includes business process management that utilizes advanced information technologies to streamline or even automate various operations performed across different functional teams. 

The demand for oil and gas and the growing number of maturing oilfields have resulted in increased adoption of smart oilfield technology. The advances in smart oilfield technologies will help enhance production rates, redevelop existing oilfield wells, facilitate production from unconventional resources, such as shale formation and tight oil, and improve well management. Intelligent well completion will significantly increase the efficiency, control, and monitoring of wells. 

According to the report, a key market driver is the aggressive remote onshore and deep and ultra-deepwater offshore exploration. The growing global demand for oil and gas and low production output from the world's mature oilfields are making the oil and gas companies aggressively explore remote regions such as deepwater and ultra-deepwater reserves, unconventional shale deposits, and tar sands. These exploration projects are technically complex, capital-intensive, and involve safety hazards. 

Further, the report states that resistance to change will be a major challenge to the growth of the smart oilfield market worldwide. 

Key vendors 

- Baker Hughes 
- CNPC 
- Halliburton 
- Honeywell International 
- Schlumberger 

Other prominent vendors 

- Accenture 
- Kongsberg Gruppen 
- Microseismic 
- National Oilwell Varco 
- Paradigm 
- Pason Systems 
- Petrolink 
- Redline Communications Group 
- Rockwell Automation 
- Shell 
- Siemens 
- Weatherford 

Key Topics Covered: 

PART 01: Executive summary 

PART 02: Scope of the report 

PART 03: Market research methodology 

PART 04: Introduction 

PART 05: Market landscape 

PART 06: Market segmentation by technology and services 

PART 07: Geographical Segmentation 

PART 08: Key leading countries 

PART 09: Market drivers 

PART 10: Impact of drivers 

PART 11: Market challenges 

PART 12: Impact of drivers and challenges 

PART 13: Market trends 

PART 14: Vendor landscape 

PART 15: Key vendor analysis 

PART 16: Appendix 

For more information visit http://www.researchandmarkets.com/research/w4cxr2/global_smart

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SOURCE Research and Markets