Global DOF market is expected to reach USD 30.78 Billion by 2020 growing at a CAGR of 4.31% from 2015 to 2020.
The growth of the market is attributed to the competition in the oil & gas industry for the market share, resulting in production focused solutions being implemented in the mature and newly developed fields. Currently, fiscal oil present in the global market exceeds the demand this is the major reason for oil price slump. This decline has impacted the CAPEX for field development. Therefore, the target is solely on efficient and economic recovery of crude.
DOF market valuation for various segments was arrived by using regional rig data, DOF implementations in various geographies and planned investments of operators and service providers. Finally, the global values were arrived at by consolidation of markets for individual regions. Industry experts were also contacted for validating the key findings of the report, in order to estimate the market appropriately.
The individual responses and the viewpoints were carefully studied and incorporated in the report. The market numbers are also validated by top-down and bottom-up estimation approaches. In top-down approach, regional and the segmental markets are derived from the parent market considering the share of the segments. On the other hand, in bottom up approach individual segment/regional markets are added to get the final parent market
DOF solutions have been majorly implemented for various processes such as production optimization, drilling optimization, and reservoir optimization. Investments in the individual processes are subjected to the prevailing oil prices. Presently, crude oil prices are below USD 50/barrel reducing the global drilling activities by more than 20% from 2014.
Digital oilfield market caters to various stakeholders such as various oilfield operators, oilfield service providers, drilling operators, exploration companies, government & research organisations, energy associations, private equity investors, and environment research institutes. Scope Of The Report
The report segments the market on the basis of process, service, and regions markets.
By Process - Production Optimization - Drilling Optimization - Reservoir optimization - Others (including asset management, safety management, and maintenance & repair) By service - Instrumentation and automation -- Distributed Control System -- SCADA -- Smart Well -- Safety Systems -- Wireless sensor -- PLC -- CPM -- Others - IT Expenditure -- IT outsourcing -- Software -- IT services & commissioning -- Computer Equipment + Application Hardware
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Sector: Oilfield Equipment and Services
(December 17, 2015 - 4:39 AM EST)
E&Ps Locking in Cash Flows and Sales Prices OPEC’s agreement to cut production levels has kicked off a rush among shale oil companies to hedge their oil price risk above $50 for 2017 and 2018. The number of E&Ps selling oil for delivery next year has pushed the WTI forward curve into slight backwardation after two years of contango. Compare[Read More…]
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