Oil
and gas companies have to manage large data sets throughout the value
chain of the hydrocarbon industry. In this capital intensive oil and
gas sector the energy companies need to maintain complex and
geographically diverse data sets of subcontractors, employees and
suppliers. The new cost pressures have led oil and gas companies to
increase their efficiency in exploration and production services.
Automating procurement and scheduling processes allow operators to
save operating costs. Software solutions which are specifically
designed for the oilfield services provide a range of solutions to
the upstream oil and gas sector.
These
software
solutions assist the energy companies to maximize their
utilization of field crews and equipment. Optimized solutions
provided by these software helps to attain maximum production benefit
at minimum field resource cost. To reduce operational costs and
maximize field performance, the oil and gas operating companies are
investing substantial amounts in tailored software solutions. The
market for tailored software solutions is anticipated to grow at a
considerable rate owing to the increasing demand of efficient
solutions for the hydrocarbon sector.
The
need to process high volumes of operational data and maximize
production efficiency are the major drivers attracting companies to
develop tailored software solutions for the oilfield services. The
software solutions developed for the upstream sector helps the
companies to integrate various operations in an efficient manner.
Several analytical software are designed to increase oilfield
production and performance without the need to invest large amounts
on IT services. Companies such as Royal Dutch Shell have invested
substantial amounts in these solutions to analyze large amounts of
geographical data which are produced from seismic sensors. Mobile
software solutions keep field personnel in touch with corporate
decisions which reduce the time and effort invested in oilfield
services. However, developing cloud based solutions for the offshore
industry can be very capital intensive which prohibits the further
growth of the market.
The
market for tailored software solutions for the oilfield services can
be segmented on the basis of solutions provided by this industry.
Different companies involved in this business offer several solutions
to the oilfield operators according to their operational
requirements. Some of the solutions are complete asset management,
operation and production reporting, oilfield construction services,
production field data collection and cost accounting services. The
requirement of these solutions depends on the requirement of the
operator and the complexity of the process.
North
America is one of the leading markets for tailored software solutions
due to increasing investment in shale field development projects. The
oilfield operators in this region are also investing on these
solutions to extract maximum oil and gas from their mature
hydrocarbon reserves. Europe is also a major market for tailored
software solutions as many offshore projects are being developed in
North Sea, Azerbaijan and Kazakhstan. Latin America and Africa are
anticipated to be one of the prominent markets of tailored software
solutions for the oilfield services in the future. The major
exploration companies have invested large amounts in oil and gas
projects of these regions which is likely to drive investment in this
market.
No comments:
Post a Comment