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Global Remote Well Site Monitoring, Alerting and Reporting Services Market - Growth, Trends, and Forecast (2018 - 2023)

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  • 100 Pages
  • April 2018
  • Region: Global
  • Mordor Intelligence
  • ID: 4514915
UP TO OFF until Sep 30th 2023
Remote well site monitoring, alerting and reporting services help to reduce the operating costs of the oil & gas production by assisting with Asset Integrity Management (AIM), helping faster decision making and reducing the need for in-person inspection of the field operation, in turn improving the productivity of the workforce. The ability to reduce the operating costs coupled with increasing oil & gas upstream activity is expected to drive the market, during the forecast period.

Low Oil Price Scenario to Drive the Market

After the oil price crisis in 2014, a majority of exploration & petroleum companies, who had invested heavily in exploration and production activity, suffered severe losses as the oil prices dropped well below the breakeven oil prices for these organizations. Hence, since 2014, the industry's focus was on reduction in the operating costs. As a result, in last three years, the breakeven prices, particularly for the offshore oil fields and shale oil production have reduced substantially. Many organizations during this period adopted the digital oilfield solutions, such as remote well site monitoring, alerting, and reporting because of their ability to reduce the operation costs by helping with faster decision making, improving the productivity of the workforce and assisting with the Asset Integrity Management (AIM), essential in current lower for longer oil price scenario. The prices have started to recover since 2016, but are not expected to reach 2013 level during the forecast period. Hence, the operators are expected to further explore the ways to reduce the operating costs, which in turn is expected to drive the market during the forecast period.

North America is Expected to Lead the Market During the Forecast Period

After the Middle East, North America region is the largest oil producer. The remote well site monitoring, alerting, and reporting market in this region is expected to register significant growth owing to positive oil & gas industry outlook in the US and Canada. The US government has announced that it will be opening almost all the US waters for exploration & production activity, which in turn is expected to drive the offshore activity in the country. Due to the remote location, the remote well site monitoring, alerting and reporting services have become an integral part of offshore oil & gas activity. Canada, with stability in oil prices, is expected to experience increasing investments in the oil & gas industry, allowing private players to explore some of its most prominent oil sand reserves. Therefore, increasing upstream activity in the region, particularly offshore activity in the US is expected to drive the market during the forecast period.

Increasing Activity in offshore Zohr Gas Field to Drive the Market in Egypt

The Zohr gas field is considered the biggest success in recent decades, in terms of discovery of prominent oil & gas fields. The commercial production from the field has started during December 2017. The daily production during December 2017 was about 350 million cubic feet, and is expected to reach 1 billion cubic feet by June 2018. The Zohr field holds about 30 trillion cubic feet of gas reserves. Hence, Zohr field, due to its large reserves, is expected to drive a sizable investment in upstream industry in Egypt. The field is present in deepwater and ultra-deepwater locations. Due to the remote location and high gas production rate, the Zohr gas field production activity is expected to require highly sophisticated remote well site monitoring, alerting, and reporting services, which in turn is expected to drive the market in the country during the forecast period.

Key Developments in the Market
  • Mar 2017: Schlumberger announced the introduction of production lifecycle management services, Lift IQ. Under Lift IQ, the company will provide monitoring, diagnostic and optimization of artificial lift systems by collection, transmission, evaluation and interpretation of artificial lifts on client's production wells to improve the production efficiency and reduce the operating costs

The Major Players Include - Baker Hughes A GE Company, Halliburton Company, National OilWell Varco, Schlumberger Limited, Osprey Informatics, Bluetick Inc, Petrocloud, LLC, Weatherford International, amongst others.

Reasons to Purchase this Report
  • Current and future global remote well site monitoring, alerting and reporting services market outlook in the developed and emerging markets

  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis

  • The segment that is expected to dominate the market

  • Regions that are expected to witness fastest growth during the forecast period

  • Identify the latest developments, market shares, and strategies employed by the major market players

  • 3-month analyst support, along with the Market Estimate sheet in excel

Customization of the Report

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Table of Contents

1. Executive Summary2. Research Methodology
3. Market Overview
3.1 Introduction
3.2 Market Size and Demand Forecast until 2023
3.3 Recent Trends and Developments
3.4 Government Policies & Regulations
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Value Chain Analysis
6. Industry Attractiveness - Porter’s Five Forces Analysis
6.1 Bargaining Power of Suppliers
6.2 Bargaining Power of Consumers
6.3 Threat of New Entrants
6.4 Threat of Substitutes
6.5 Intenisty of Competitive Rivalry
7. Market Segmentation and Analysis (Overview, Market Size, and Demand Forecast until 2023)
7.1 By Location of Deployment
7.1.2 Offshore
8. Regional Market Analysis (Overview, Market Size, and Demand Forecast until 2023)
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Mexico
8.2 Asia-Pacific
8.2.1 China
8.2.2 India
8.2.3 Malaysia
8.2.4 Rest of Asia-Pacific
8.3 Europe
8.3.1 United Kingdom
8.3.2 Norway
8.3.3 Russia
8.3.4 Rest of Europe
8.4 Middle East
8.4.1 Saudi Arabia
8.4.2 UAE
8.4.3 Iran
8.4.4 Rest of Middle East
8.5 Africa
8.5.1 Angola
8.5.2 Egypt
8.5.3 Nigeria
8.5.4 Rest of Africa
8.6 South America
8.6.1 Brazil
8.6.2 Argentina
8.6.3 Rest of South America
9. Key Company Analysis* (Overview, Products & Services, Financials**, Recent Development, and Analyst View)
9.1 Baker Hughes A GE Company
9.2 Halliburton Company
9.3 National OilWell Varco
9.4 Schlumberger Limited
9.5 Osprey Informatics
9.6 Bluetick Inc
9.7 Petrocloud, LLC
9.8 Weatherford International
10. Competitive Landscape
10.1 Mergers and Acquisitions
10.2 Joint Ventures, Collaborations, and Agreements
10.3 Strategies Adopted by Leading Players
11. Appendix
11.1 Contact Us
11.2 Disclaimer
*List not Exhaustive
**Subject to availability on public domain

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Baker Hughes A GE Company

  • Halliburton Company

  • National OilWell Varco

  • Schlumberger Limited

  • Osprey Informatics

  • Bluetick Inc

  • Petrocloud LLC

  • Weatherford International