Speakers from Shell, Wood Mackenzie and TechnipFMC agreed that offshore oil and gas production provides the lowest carbon barrels when compared to other producing regions.
Digital Oilfield Market Growth Factors, Opportunities, Ongoing Trends and Key Players 2025
iCrowd Newswire
29 Jun 2021, 10:22 GMT+10
The global Digital Oilfield Market size is projected to reach USD 28.5 billion by 2025 from an estimated value of USD 20.2 billion in 2020, at a CAGR of 7.1% from 2020 to 2025. New technological advancements in the digital oilfield, increased return on investment in the digital oilfield, and increased need from oil & gas operators to scale up production from mature wells are the key factors driving the digital oilfield market.
The production optimization segment is expected to be the largest segment of the digital oil field market, by process, from 2020 to 2025. Employing real-time techniques for production optimization increases the recovery of oil and reduces the non-productive time. The ongoing market dynamics, where there has been a constant fluctuation in the oil prices, requires focusing on reducing the non-productive time and improve workflow