Connected Oilfield Services Market

Disrupting a $250 Billion Market, a Fragmented Ecosystem Looks at Convergence Amid Volatile Oil Prices

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The recent decline in oil prices has put the brakes on a few technology investments; however, it has also created a need for greater efficiency in the oil and gas sector. Most oil and gas companies are operating assets in challenging conditions across multiple regions. Ensuring operational efficiency through the greater use of technology is therefore of paramount importance, and this research service highlights future solutions that could help achieve greater efficiency.

Table of Contents

Executive SummaryTop 5 Things a CEO Should KnowExecutive Summary5 Trends that Define the Future of the MarketThe Next Big Thing(s) in the MarketSnapshot of Top Opportunities for AI in the Oil and Gas IndustryConvergence of People, Process, and Technology Creates a Vortex of ChangeConnected Oilfield Services—Game Changers and Their Impact on Future Landscape Associated Research and Multimedia on Energy and EnvironmentIntroduction—Scope and SegmentationScope of the StudyProduct DefinitionsProduct Definitions (continued)Business Issue—Inefficiencies Expose Pressure Points Oilfield Services DefinitionOilfield Services Definition (continued)Pressure Point 1—Asset AvailabilityPressure Point 1—Asset Availability (continued)Pressure Point 2—Cost of Core ServicesPressure Point 3—Protecting Operational MarginsTectonic Shifts Witnessed in the Oilfield IndustryWhy do Oilfields Need Smart Services?Ecosystem—The Who’s Who of the MarketGrowth Opportunities—Demand for Responsive and Connected Oilfield ServicesTechnology Convergence Trends to Drive Out InefficienciesDefining the Reality of Connected Oilfield ServicesConnected Oilfield Services—Deep Architecture; Wide StructureChallenges Faced by the Oil Industry and its ConnectednessConnected Oilfield Services—Multi-level IT-OT ArchitectureConnected Oilfield Services—Totally Integrated Digital Oilfield Connected Oilfield Services—Growth Opportunities 1Connected Oilfield Services—Growth Opportunities 2Outcomes of Smart Oilfields—Driving Throughput EfficienciesIndustry Partnerships Drive Oilfield EfficienciesUse Case 1—Production Efficiencies – BP + GE PredixConnected Oilfield Services Impact Predictive Asset ManagementUse Case 2—Predictive Asset Management – IBM Smart SolutionsConnected Oilfield Services Need a Pore-to-Pipeline PortfolioUse Case 3—Asset Performance – Schlumberger + CameronUse Case 3—Asset Performance – Schlumberger + Cameron (continued)Use Case 3—Asset Performance – Schlumberger + Cameron (continued)Connected Oilfield Services Impact Production Cost EfficienciesUse Case 4—Production Cost Efficiencies – SAP SE + MobilityStrategy and Insight 1—Connected Platform Solution Industry Pressure Points Drive Consolidation in Oilfield Services PlatformsElements of Digital Oilfield—Bringing Together the SiloesIndustry Challenges Fire Innovation in Oilfield ServicesImplications of Platform Adoption for Oilfield ServicesPlatforms Play a Key Role in Connecting Oilfield Services StakeholdersSingle Platform is the New NeedEcosystem—The Who’s Who of the MarketEcosystem—Mergers and AcquisitionsUse Case 1—GE and its Positioning as a Full Stream Service ProviderUse Case 1—GE and its Positioning as a Full Stream Service Provider (continued)Use Case 1—GE and its Positioning as a Full Stream Service Provider (continued)Use Case 2—Halliburton Utilises Cloud Services to Optimise RecoveryStrategy and Insight 2—50% OEM Revenue from Services Smart Solutions to Connect Oilfield Service EquipmentOilfield Operators—Low Commodity Prices Challenge the Traditional Business Model and Drive New Business ModelsTransforming the Business Models of Equipment ManufacturersWhat Should Equipment Manufacturers Do?Business Model Transformation Benefits to OEMs in the OilfieldAsset Classes and Analytical Services Offered (Partial Listing)Use Case—Chevron Monitors Performance by Predictive MaintenanceStrategy and Insight 3—Capital and Asset Inefficiency Drive Portfolio TransformationTop 5 Objectives of Oil Operators in the Short Term for AutomationOilfield Operator Expectations from Automation CompaniesTechnologies and Domain Expertise Turn MAC into MICCAMP Index for the Automation Sector in the MarketAutomation Portfolio Expansion to Drive Smart BusinessMergers and Acquisitions of Automation Companies in the OilfieldIndustry Partnerships Drive Portfolio ExpansionUse Case 1—Changing Trends – Core Automation Moving into AnalyticsUse Case 1—Changing Trends – Core Automation Moving into Analytics (continued)Use Case 2—New Market Alliances Forming – Analytics PaaSUse Case 3—Predictive Analytics Helps Reduce Failures and DowntimeUse Case 3—Predictive Analytics Helps Reduce Failures and Downtime (continued)Strategy and Insight 4—Emergence of Cognitive VA PlatformsIT Applications Evolution in the Oilfield Industry – AI Takes Over The Arrival of ML and AI in Oilfield Services – Timely and Disruptive Applications of AI and VA across the Value Chain Business Model Transformation – from Cloud to AI AI is the New Reality AI Architecture in Oilfield Services Neural Networks Become Stronger in the Oilfield Cognitive Computing Enables Optimisation ML Application in Oilfield Services ML Application in Oilfield Services (continued) Industry Partnerships Drive AI Penetration Use Case 1—AI Assists in Reservoir Management Use Case 2—Production Optimisation for Complex Fields Use Case 3—Convergence Brings AI to Oilfield Services Use Case 3—Convergence Brings AI to Oilfield Services (continued) Use Case 4—Repsol and IBM Collaborate on Cognitive Technologies Use Case 5—Finding New Reserves with New Technological Frontiers AI and ML Ecosystem Top RecommendationsTop RecommendationsLegal DisclaimerAppendixLearn More—Next StepsThe Frost & Sullivan StoryThe Frost & Sullivan StoryValue Proposition: Future of Your Company & CareerGlobal PerspectiveIndustry Convergence360º Research PerspectiveImplementation ExcellenceOur Blue Ocean Strategy




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