Press Release

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, 2012–2022has 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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Europe Digital Oilfield Market By Process (Drilling Optimization, Production Optimization, Reservoir Optimization, & Others), By Solution (Instrumentation & Automation Vs. IT Services), Competition Forecast & Opportunities, 2012–2022

Oil and Gas | May, 2017

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

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