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Home > Oil and Gas >  Digital Oilfield – Thematic Research

Digital Oilfield – Thematic Research

Digital oilfields enable oil and gas companies and oilfield service providers to remotely monitor and control critical activities at production facilities. These technologies aim to boost productivity and efficiency in exploration and production (E&P) by minimizing equipment downtime and improving hydrocarbon recovery.

This is especially critical in today’s scenario where oil and gas producers are seeking to streamline their costs to recover from the COVID-led energy demand shock. Digital oilfields also help reduce the need for the physical deployment of personnel on site, thereby improving worker safety

What are the market dynamics in digital oilfield?

Digital oilfield technologies have gained momentum with the advent of the internet of things (IoT). They use artificial intelligence (AI), predictive analytics, and visualization tools to generate data-driven insights in real time to speed up decision-making processes. The adoption is especially noticeable in newer projects that use the latest technologies and equipment to extract hydrocarbons. Companies are looking to automate as many processes as possible to mitigate operational risks as well as labor risks, potentially leading to cost savings in the long term.

In 2020, the COVID-19 pandemic forced companies to withdraw infected personnel from production platforms, causing an upheaval in labor availability. This highlighted the need for remote monitoring of oilfield equipment, prompting the oil and gas industry to push digitalization. The major focus is on asset management to maximize investment returns. Companies are likely to use digital twins and other technologies to oversee every aspect of the asset lifecycle to ensure long-term sustainability.

The digital oilfield competitive landscape is largely dominated by oilfield service providers and industrial equipment makers that offer digital solutions and services to address complex business problems.

What are the key segments in digital oilfield value chain?

There are five key segments in the digital oilfield value chain. These include devices and equipment, connectivity, data analytics, visualization tools, and digital oilfield services.

Devices and equipment

Devices and equipment makers specialize in the design, manufacture, and sale of devices and equipment that are integral to oilfield operations. These include sensors, microcontrollers, camera systems, robotics, automation and control systems, and oilfield equipment. Companies in this space are focusing on enabling remote operations from equipment and infrastructure in real time to evaluate their performance and integrity

Connectivity

This segment includes companies specializing in the design and manufacture of networking hardware, wireless connectivity, edge computing devices, and the setting up of wide-area networks (WANs) and cloud infrastructure. Advancements in networking hardware and improvements in wireless networks have been pivotal to the gains in digital oilfield technologies in the last decade. Wireless networks have vastly improved in bandwidth and coverage, which has enabled the transmission of high-bandwidth data, such as live video feeds from oil fields to onshore offices

Data analytics

This segment includes companies offering storage solutions and software to manage data and workflows. Companies in this segment specialize in data management and delivering insights on business-critical applications to decision-makers. Automation providers are also deploying scalable cloud-based platforms to populate data from disparate oil fields on the cloud for analysis and decision making. Maturing cloud computing technologies and their growing relevance in the oil and gas sector has encouraged companies to partner with cloud providers for their data requirements. Besides technology giants, several mid-size and emerging technology companies are gaining prominence in this segment, such as Seven Lakes Technologies, Ambyint, and Kongsberg Digital, having expertise in delivering pure play digital oilfield solutions to oil and gas producers.

Visualization tools

Data visualization is a key determiner of the digital oilfield solution stack. It helps identify patterns in day-to-day tasks to simplify decision making. This could potentially contribute to eliminating process bottlenecks, automating repetitive tasks, and achieving performance improvements. Companies offering data analytics solutions—like Schaumberg, Halliburton, and Baker Hughes—also provide visualization tools for the monitoring of operations and reporting. Pure-play digital oilfield companies, such as Quorum, also offer robust tools to create custom views for depicting information as per the business case. Moreover, big data and cloud computing leaders, such as Microsoft or IBM, also have expertise in data visualization tools for oil and gas use cases.

Digital oilfields services

This segment of the digital oilfield value chain involves companies offering their domain expertise and technical know-how to help enable digital transformation in hydrocarbon E&P. These service providers assist oil and gas producers in the project design while also delivering EPC contracting services. Lately, companies have started creating digital twins of new projects to schedule and monitor the execution of such projects to prevent cost overruns.

Who are the key players in digital oilfield sector?

BP, Chevron, Shell, Equinor, ExxonMobil, Baker Huges, Weatherford International are some of the key players in digital oilfield sector.

Market report scope

Key segments in digital oilfield value chain Devices and Equipment, Connectivity, Data Analytics, Visualization Tools, and Digital Oilfield Services
Key Players BP, Chevron, Shell, Equinor, ExxonMobil, Baker Huges, and Weatherford International

Scope

  • It highlights the various industry and technology trends influencing the digital oilfield theme.
  • It evaluates recent oil and gas projects around the world for their adoption of digital oilfield technologies.
  • It analyses the digital oilfield value chain and identifies the major players across each segment of this value chain.
  • The report also provides an overview of the competitive positioning of leading oil and gas players and oilfield equipment and service providers in the digital oilfield theme.

Reasons to Buy

  • Identify the key trends supporting the global adoption of digital oilfield technologies.
  • Review the adoption of digital oilfield around the world and the key contractors that are enabling this adoption.
  • Understand the digital oilfield value chain and identify its industry leaders and challengers.
  • Identify and benchmark key oil and gas players and equipment and service providers in the digital oilfield theme.

Table of Contents

Executive Summary 3

Players 4

Technology Briefing 5

Trends 8

Oil & gas sector trends 8

Technology trends 10

Industry Analysis 12

Use cases 16

Mergers and acquisitions 17

Value Chain 19

Devices and equipment 22

Connectivity 23

Data analytics 24

Visualization tools 26

Digital oilfield services 27

Companies 28

Oil & gas companies 28

Oilfield service providers 30

Integrated Oil and Gas Sector Scorecard 31

Glossary 34

Further Reading 37

| Our Thematic Research Methodology 38

| About GlobalData 40

| Contact Us 41

Frequently Asked Questions

There are five key segments in the digital oilfield value chain – devices and equipment, connectivity, data analytics, visualization tools, and digital oilfield services.

BP, Chevron, Shell, Equinor, ExxonMobil, Baker Huges, and Weatherford International are some of the key players in the digital oilfield sector.

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