South America Digital Oilfield Market to Cross $1.2 Billion by 2022
Increasing
subsea exploration & production activities coupled with expected revival of
oil prices to aid South America digital oilfield market during forecast period
According to a recently published TechSci Research
report, “South America Digital Oilfield Market By
Process, By Solution, Competition Forecast & Opportunities, 2012–2022”, the market of digital oilfield in South America is anticipated to cross $1.2
billion by 2022. Growth in the market is anticipated on account of
increasing subsea exploration and production taking place in offshore
Venezuela, which would generate demand for digital oilfield solutions owing to
challenging environment conditions. Moreover, surge in oil prices in complement
to the recovery in Brazilian economy would fuel the region’s digital oilfield
market during forecast period.
Browse 5 market data Tables and
20 Figures spread through 61 Pages and an in-depth TOC on "South
America Digital Oilfield Market"
https://www.techsciresearch.com/report/south-america-digital-oilfield-market-by-process-drilling-optimization-production-optimization-reservoir-optimization-others-by-solution-instrumentation-automation-vs-it-services-competition-forecast-opportunities/991.html
As the era of easy oil comes to an end,
operators are going into ultradeep water to cater growing oil & gas demand.
These offshore field development programs require huge investments and highly
trained workforce. However, owing to fluctuating crude oil prices, companies across
the world are looking for ways to cut costs, reduce headcount, improve
operational efficiency, cut downtime during drilling, reduce time to produce
first oil, automate hazardous and repetitive operations and optimize the
processes across the upstream oil & gas value chain. Digital oilfield is
coming to the rescue for these oil & gas companies as this new technology is
capable of reducing their production costs, optimizing drilling and production
processes and mitigating the challenges being faced by them in harsh offshore
terrains, keeping in mind the safety of workers.
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“On the basis of process, South America digital
oilfield market has been broadly segmented into drilling optimization, production
optimization, reservoir optimization, & others. Among these categories,
drilling optimization dominated South America digital oilfield market in 2016
due to high operational costs involved in drilling process. However, the
scenario is expected to change during forecast period, and production
optimization segment is expected to dominate South America digital oilfield
market in 2022, on account of increasing demand from filed operators, as oil
production is dwindling and hydrocarbon recovery rates are to be improved.”, said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“South America Digital Oilfield Market By Process, By Solution, By
Region, Competition Forecast & Opportunities, 2012–2022” has
evaluated the future growth potential of South America 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 South America digital oilfield market.
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innovative research solutions and tracking global and country specific high
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