Digital oilfield
is the new approach to explore more oil and gas field in less cost. Under this
concept, the oilfield is incorporated with advanced software and data analysis
to provide better outputs and improve the profitability of the exploration and
production process. The major advantages of digital oilfield are fast data
recovery from the well, organize the data extracted from well, proper
framework, cost reduction, rapid deployement and asset management.
The growing demand for digital oilfield market is
attributed to the rising demand for oil and gas and the increased demand for
natural resources in North America and Europe. Various big giants such as BP
p.l.c, Halliburton, and Shell are evolving their technology. For instance,
Halliburton has developed an innovative Digital Heavy Oil Field concept for
continous and cyclic steam injection porjects for its unique features such as
automated reservoir optimization using smart algorithmes and calculations, workflow
swim lanes (injection, production & reservoir) which can work coupled or
independently, and fully integeration well, reservoir, wells, and surface
netwrok. Additionally, this solution helped in overall asset performance by
increasing operational efficiency, reducing operational cost &
nonproductive time.
Industry
Segmentation:
The market for digital oilfield market is segmented based on
application as offshore and onshore. Offshore segment dominates the market
because offshore companies are tapping risk intensive deepwater wells but in an
effcient manner. North America and Western Europe with their mature oilfields are
having various number of project which are incorporated with digital oilfield.
The main benefit of digital oilfield is wireless networking which provides high
speed communication. For instance, In March 2018, BP has awarded a contract to
Kongsberg Digital to design, build, install and perform the acceptance of
sophisticated digital twin. The Kongsberg Digital model will be connected to
Mad Dog 2 facility to create realistic simulation environment which will
deliver dynamic decision support for production effciency in Gulf of Mexico
region.
Key
Players:
The key players of
the global digital oilfield market are Schlumberger Limited (US), Weatherford
International plc (Switzerland), Halliburton (US), National Oilwell Varco (US),
Baker Hughes Incorporated (US), Siemens AG (Germany), Kongsberg Oil & Gas
Technologies Inc. (UK), Emerson Electric Co. (US), and Rockwell Automation,
Inc. (US).
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Full Report at: https://www.marketresearchfuture.com/reports/digital-oilfield-market-6784
Regional
Outlook
Region wise, North
America and Western Europe with their mature oilfields are having various
number of project which are incorporated with digital oilfield. The main
benefit of digital oilfield is wireless networking which provides high speed
communication. For instance, In March 2018, BP has awarded a contract to
Kongsberg Digital to design, build, install and perform the acceptance of
sophisticated digital twin. The Kongsberg Digital model will be connected to
Mad Dog 2 facility to create realistic simulation environment which will
deliver dynamic decision support for production effciency in Gulf of Mexico
region. It has been estimated that Asia-Pacific region will grow at the highest
rate during the forecast period.
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