Title: Global Smart Oilfield Market 2020
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
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.
Publisher’s analysts forecast the global smart oilfield market to grow at a CAGR of 4.1% during the
period 2016-2020.
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Publisher’s analysts forecast the global Smart Oilfield market to grow at a CAGR of 3.36% during the
period 2016-2020.
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
Market driver
- Remote onshore and deep and ultra-deepwater offshore explorations
- For a full, detailed list, view our report
Market challenge
- Resistance to change
- For a full, detailed list, view our report
Market trend
- Advances in smart oilfield technology
- For a full, detailed list, view our report
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