Advanced Oil and Gas Exploration and Downhole Technologies: Global Markets to 2021
The global market for advanced exploration and downhole technology reached $163.2 billion in 2015. This market is estimated to reach $233.4 billion in 2021 from $175.8 billion in 2016 at a compound annual growth rate (CAGR) of 5.8% for 2016-2021.
- 94 data tables and 94 additional tables.
- An assessment and evaluation of the demand for advanced exploration and new downhole techniques for oil and gas production.
- Analyses of global market trends, with data from 2015 and 2016, and projections of compound annual growth rates (CAGRs) through 2021.
- An overview of the importance of advanced exploration and new downhole techniques in relation to the overall global and U.S. economies.
- Evaluation of environmental and energy regulations and their impacts on the market.
- The structure of the industry and competitive aspects.
- Market segmentation and fragmentation, channels of distribution, pricing economics, and purchasing influences.
- Profiles of major players in the industry, including: Dawson Geophysical Company, Fugro NV, Mitcham Industries, Petroleum Geoservices ASA (PGS), Polarcus Ltd., Schlumberger WesternGeco, SeaBird Exploration, Helmerich and Payne.
This report is divided into 10 chapters. Chapter 1 identifies the study’s goals and objectives, reasons for doing this study, information sources, methodology and the analyst’s credentials.
Chapter 2 provides a summary of the report, including a summary table and summary figure.
Chapter 3 presents the market and technology background, describing the importance of advanced oil and gas exploration and downhole technologies in relation to the more traditional practices, including a brief history and important indications for the industry.
Chapter 4 presents the market for advanced oil and gas exploration and downhole technology by type, including seismic, geophysical, drilling, completion, artificial lift, revitalization/rejuvenation of old, abandoned fields, and abandonment/decommissioning and waste management.
Chapter 5 details the demand by end user by oil type, gas company and region.
Chapter 6 presents the demand by application in finding (i.e., discovery and imaging), reaching the reserves, recovery of the reserves, and abandonment/decommissioning and waste management.
Chapter 7 presents the demand by region, including North America, Europe, Asia-Pacific and the Rest of the World. An in-depth quantification of advanced exploration and downhole expenditures by region includes forecasts to 2021.
Chapter 8 presets the patent overview and new technological development impacting the industry. This section is particularly important to this discussion of the oil market, as no nation can enjoy long-term energy security without innovation, and international stability cannot be secured without establishing mutually beneficial economic cooperation rooted in technology development.
Chapter 9 presents an analysis of the market opportunities, along with the industry structure, concentration factors, market leaders and their performance. It also presents important strategies for staying competitive and important shifts in the industry. Trade practices, concentration factors, company earnings and changes are assessed. Other aspects covered in this section include pricing economics and purchasing influences.
Chapter 10 provides the company profiles, including contact addresses, websites, and telephone and e-mail contact information of selected companies involved in advanced oil and gas exploration and downhole technology.
Edward Gobina is a Full U.K. Professor of Chemical and Processing Engineering with 33 years of research and teaching experience in environmental engineering, oil and gas engineering, petrochemical reaction engineering, and catalytic membrane-reactor technology. His scientific achievements are archived in more than 400 scientific articles, and they are spread in more than 25 granted patents, more than 30 patent applications and more than 150 invited and guest speaker presentations, as well as contributed presentations and prestigious refereed scientific journals, newsletters, proceedings and reviews. He has been a project analyst for BCC Research since 1998, having authored more than 30 BCC Research reports that have provided the critical links in the entire chemical, materials and energy infrastructure chain occasioned from biorefineries, hydrogen to oil and gas, sensors and monitoring, and LNG infrastructure. Professor Gobina is a member of the European Membrane Society (EMS), the North American Membrane Society (NAMS) and the New York Academy of Sciences (NYAS). He is the current director of the Centre for Process Integration and Membrane Technology (CPIMT) within the School of Engineering at the Robert Gordon University in the U.K.
Global spending on advanced exploration and new downhole techniques will reach $223.183 billion/year in 2012 or 6.4% of the total global oil and gas market in 2012.
The increase in spending falls short of the $450 billion in investments that are needed annually on advanced exploration and new downhole techniques over the next quarter century to prevent shortages of oil or natural gas.
The use of advanced exploration and new downhole technologies will contribute significantly in reducing the dependence on the volatile Middle East because the technologies increase the supplies of liquids that are not under the control of OPEC.