For overview analysis, the report introduces Global Smart Well Market basic information including definition, classification, application, industry chain structure, industry overview, policy analysis, and news analysis, etc.
The Report Announces the Publication of its Research Report – Global Smart Well Market 2017-2021
The Report recognizes the following companies as the key players in the global smart well market: Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford International.
Other Prominent Vendors in the market are: Statoil, Salym Petroleum, Woodside Energy, Emerson process management, INTECH process automation, Nabors Completion & Production Services, RPC Inc., Superior Energy Services, Trican Well Services, and Welltec International AS.
Commenting on Global Smart Well Market, an analyst team said: “One trend in market is IT integration and digitization of oil fields. The recent fall in oil prices has reduced oilfield services companies’ profit margins. This has led to companies leveraging the use of IT to improve efficiencies and reduce operational losses. Oilfield services companies have billions of dollars invested in assets. Integrating IT with software such as total asset managers and DrillNet has allowed for continuous monitoring to find any irregularities in the performance of equipment that can be fixed immediately. This helps reduce not only maintenance time, but also failure of devices that could result in the loss of millions of dollars due to downtime and delay in the completion of a project.”
The Report analysts forecast the global smart well market to grow at a CAGR of 4.48% during the period 2017-2021.
Global Smart Well Market of 89 pages having tables and figures is available for purchase at
According to Global Smart Well Market, one driver in market is migration of drilling into unconventional areas. Oil companies are managing unconventional oil and gas resources like tight oil, shale gas, shale oil, and coal bed methane. Oil industry requires advanced on-site processing equipment so that it can enhance overall oil recovery and increase ROI. The smart well technologies play a crucial role in maintaining the financial stability as well as improving the drilling activity by providing necessary details and readings regarding the reservoirs characteristics. The added advantage of smart well technologies is that they provide real-time information which prevents accidents and uncertainties while drilling.
Further, Global Smart Well Market states that one challenge in market is decreasing investment in oil and gas industry. Investments in oil and gas industry declined in 2015 due to plunging oil and gas prices. Total, a leading oil and gas product company announced a reduction in its upstream expenditure in 2016. The company declared plans to reduce the CAPEX from $28 billion in 2013 to $21 billion in 2016. REPSOL (a global energy company) declared a 40% reduction in its upstream expenditure in 2016 as compared to 2014. In its latest Strategic Plan, the firm readjusted its upstream focus on only three regions till 2020- North America, Latin America, and Southeast Asia. The company also aims to sell off $7 billion worth of upstream and downstream assets by 2020. Deepwater projects normally require big investments, hence most of the deep-water projects have either been deferred or shelved.
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Table of Contents in Global Smart Well Market Research Report:
PART 04: Introduction
Key market highlights
PART 05: Global Smart Well Market landscape
Market size and forecast
Five forces analysis
PART 06: Market segmentation by application
Global smart well by application 2016-2021
Global smart well market by onshore
Global smart well market by offshore
PART 07: Geographical segmentation
Global smart well market by geography 2016-2021
Global smart well market in the Americas
Global smart well market in EMEA
Global smart well market in APAC
PART 08: Global Smart Well Market drivers
Migration of drilling into unconventional areas
Increased use of horizontal and multilateral wells
Focus on reduction of non-productive time (NPT)
Constant demand for oil and gas
PART 09: Impact of drivers
PART 10: Market challenges
Decreasing investment in oil and gas industry
Uncertainties associated with low crude oil prices
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Global Smart Well Market was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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