"Smart Strategies, Giving Speed to your Growth Trajectory"
According to World Economic Forum report, 2018, investment done by major players for digitalization in the oil and gas industry could be worth around US $1.6 Tn to US $2.5 Tn, projected from 2018-2025. This digitalisation includes the development and deployment of advanced exploration and production software solutions and services in the oil and mining industry. Exploration and Production software is an advanced set of tools and applications designed and developed to assist companies for the optimization of resources and identification of milestones for expanding into new markets, capital investments and production activities.
It helps to identify and analyze the needs of the market, calculate the market size, and identify the opponent business plans and strategies. The primary necessity of this software is in the oil/gas and mining industries due to the high complexity of their operations. The leading companies use exploration & Production (E&P) Software for gathering and analyzing the numerical data related to services and products.
To gain extensive insights into the market, Request for Customization
Expansion of I-IoT (Industrial Internet of Things) technology plays a significant role in driving the exploration and production software market. According to a report by PWC, global I-IoT market is expected to reach around US$ 3 Tn by 2022. In 2018, Sourcewater, Inc. acquired the Digital H2O Water asset intelligence service from Genscape, Inc. with an aim to launch an advance IoT integrated oilfield water and disposal intelligence platform serving the upstream energy industry with advanced water data science.
Some of key players in the exploration and production software market include Schlumberger Limited, Paradigm B.V., ION Geophysical Corporation, ETL Solutions Ltd., Exprodat Consulting Ltd., Landmark Solutions, Baker Hughes Incorporated, IHS Inc., Emerson Electric Co., Computer Modelling Group Ltd., Kongsberg Gruppen ASA, GE Oil & Gas, Pason Systems Corp., Ikon Science Limited.
· Premise Software
· Cloud-based Software
· Managed Software
· Risk Management Mapping
· Seismic Amplitude Analysis
· Portfolio Aggregation
· Performance Tracking
· Navigation System
· Resource Valuation
· Reservoir Characterization
· Reservoir Imaging
· Reservoir Monitoring
· Subsurface Evaluation
· Pressure & Flow-rate Measurement
· Reservoir Simulation
· Black Oil Simulator
· Compositional Simulator
· Thermal Compositional Simulator
· Well Planning
· Trajectory Design
· Survey Database
· Drilling Engineering
· Casing Design
· Cement Design
· Mud Design
· BHA Design & Analysis
· Well Barrier
· Drilling Operations
· Drilling Optimization
· Operational Efficiency – KPI Monitoring
· Wellsite Reporting
· Data Aggregation
· Drilling Automation
· Drilling Data Management Well Control
· Production Engineering
· Flow Assurance Engineering
· Production Analytics
· Production Operations
· Production Data Management Systems (PDMS)
· Digital Oilfield
By Industry Vertical
· Oil & Gas
· Mine & Metallurgy
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
The global exploration and production software market have been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is anticipated to be the leading exploration and production software market over the forecast period due to huge investment done by the leading players across the region for technological developments in the Oil/gas and mining industry. Increasing investments and efforts by governments and key players across the globe to explore hidden reserves of unusual gas have also led to the rise in the adoption of exploration and production software in the market. For example, in 2018, General Electric Oil Company merged with global technology providers with an aim to introduce the next industrial era in the oil & gas sector.
KEY INDUSTRY DEVELOPMENTS
In 2018, Emerson Electric Co. completed the purchase of AI Intelligent Platform from General Electric, with an aim to strengthen the exploration and production software market globally. This acquisition would enable the Emerson Electric Co., to expand its capabilities in machine control and discrete applications, and integrate with oil and gas power plants.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry