Europe Digital Oilfield Market to Cross $5 Billion by 2022
Growing need to reduce downtime and non-productive
time by real time monitoring of oil & gas operations to drive Europe digital
oilfield market through 2022
According to a recently
published TechSci Research report, “Europe Digital Oilfield Market By
Process, By Solution, Competition Forecast & Opportunities, 2012–2022”, the market of digital oilfield in Europe is anticipated to cross $5 billion
by 2022. Growth in the market is expected on
account of anticipated recovery in crude oil prices which would eventually
improve the financial situation of upstream players. Exploration &
production investments will start to pour in once companies are confident that
crude prices will stabilize in the near future. Once the CAPEX cycle picks up
for E&P, the demand for digital oilfield solutions and technologies will
garner attention during the forecast period.
Browse 5 market data Tables and
20 Figures spread through 62 Pages and an in-depth TOC on "Europe
Digital Oilfield Market"
https://www.techsciresearch.com/report/europe-digital-oilfield-market-by-process-drilling-optimization-production-optimization-reservoir-optimization-others-by-solution-instrumentation-automation-vs-it-services-competition-forecast-opportunities/983.html
Russia dominated Europe digital
oilfield market in 2016, and the country is expected to maintain its dominance
over the next five years as well as it is the largest exporter of hydrocarbons
from the region. Companies are looking towards digital oilfield solutions and
technologies to bring down operational costs, optimized business operation, and
automate repetitive processes in the low crude oil price environment. On 22nd January 2015, Tendeka announced that
it won two contracts for providing sand and inflow control technology for the
onshore Severo-Komsomolskoe oilfield in Western Siberia. Tendeka secured
another contract with Lukoil-Nizhnevolzhskneft to supply AICDs to be
deployed in horizontal wells at the Yury Korchagin oilfield in the North
Caspian Sea.
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“Increase in demand for oil & gas has made
companies move offshore in search of hydrocarbon due to maturing onshore wells.
With the development of new offshore fields, an increase in demand for digital
oilfield technologies is expected in coming years, as these technologies help
in optimizing exploration & drilling process, thereby reducing the
unproductive time and rig downtime.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Europe Digital Oilfield Market By Process, By Solution, Competition
Forecast & Opportunities, 2012–2022” has evaluated the
future growth potential of Europe
digital oilfield market and provides statistics and information on
market structure and trends. The report is intended to provide cutting-edge
market intelligence and help decision makers take sound investment evaluation.
Besides, the report also identifies and analyzes emerging trends along with
essential drivers, challenges and opportunities available in Europe digital oilfield market.
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