Press Release

Asia-Pacific Digital Oilfield Market to Cross $2.5 Billion by 2022

Anticipated revival of crude oil prices, and increasing oil & gas exploration & production activities to drive Asia-Pacific digital oilfield market through 2022

According to a recently published TechSci Research report, Asia-Pacific Digital Oilfield Market By Process, By Solution, Competition Forecast & Opportunities, 2012 – 2022, the market of digital oilfield in Asia-Pacific is anticipated to cross $2.5 billion by 2022. Growth in the market is expected on account of high capital expenditure planned by National Oil Companies (NOCs) in countries such as China and India for embracing digital oilfield technologies and solutions to cut costs and optimize business operations. Both countries are the major demand centers for oil & gas, and importing a lot of hydrocarbon to fuel their growing economy. Both countries have huge coastlines which presents opportunities for offshore exploration, thereby aiding the region’s digital oilfield market.

Browse 5 market data Tables and 20 Figures spread through 63 Pages and an in-depth TOC on "Asia-Pacific Digital Oilfield Market"

https://www.techsciresearch.com/report/asia-pacific-digital-oilfield-market-by-process-drilling-optimization-production-optimization-reservoir-optimization-others-by-solution-instrumentation-automation-vs-it-services-competition-forecast-opportunities/981.html

Drilling optimization process dominated Asia-Pacific digital oilfield market in 2016, and the segment’s share is expected to maintain its dominance through 2022. Drilling optimization processes are gaining prominence in Asia-Pacific region as operators looking for ways to cut operational costs incurred by while drilling. Moreover, rig downtime cost millions to operators, and drilling optimization process reduces the unplanned rig downtime coupled with optimizing drilling process, thus bringing down the overall operational costs.

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“During the forecast period, growth in Asia-Pacific digital oilfield market can be attributed to surging energy demand coupled with decreasing mature fields production, which is expected to push upstream companies to improve recovery rates by the use of digital oilfield technologies. In addition, firming crude oil prices is expected to compel companies to start their CAPEX cycle again resulting in increased demand for digital oilfield solutions.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Asia-Pacific Digital Oilfield Market By Process, By Solution, Competition Forecast & Opportunities, 2012–2022has evaluated the future growth potential of Asia-Pacific 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 Asia-Pacific digital oilfield market.

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Asia-Pacific Digital Oilfield Market By Process (Drilling Optimization, Production Optimization, Reservoir Optimization, & Others), By Solution (Instrumentation & Automation Vs. IT Services), Competition Forecast & Opportunities,

Oil and Gas | May, 2017News

Anticipated revival of crude oil prices, and increasing oil & gas exploration & production activities to drive Asia-Pacific digital oilfield market through 2022

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