Convergence Impact on Oilfield Services—Disrupting a $250 Billion Market

Fragmented Ecosystem Looks at Convergence Amid Volatile Oil Prices

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As low oil prices give way to dwindling profit margins, strategies dictate organizations to curb inefficient practices and replace them with technologically advanced smart solutions. Connected oilfield services facilitate reduced drill time and increased productivity. The digital transformation has shifted focus to chasing efficiencies from the traditional one of chasing barrels. Business model disruptions to sell performance instead of equipment have taken over, as analytics becomes a strong part of the automation portfolio. The ICT industry has taken a leap of faith with the introduction of cognitive technologies through virtual assistants in oilfield services, taking artificial intelligence applications to a

Table of Contents

Executive SummaryTop 5 Things a CEO Should KnowExecutive SummaryOilfield Services Market—5 Industry TrendsConnected Oilfield Services Market—The Next Big Thing(s)O&G Industry—Snapshot of Top Opportunities for AIConvergence of People, Process, and TechnologyConnected Oilfield Services—Game ChangersMega Trends to Micro Booms—Definitions and Tie-insMega Trends to Micro BoomsConvergence of Mega Trends Micro Booms—Actionable Insights FrameworkIntroduction—Scope and SegmentationScope of the StudyProduct DefinitionsProduct Definitions (continued)First Base—Business IssuesBusiness IssuesInefficiencies in the OFS Market Open Up Industry Pressure Points, as Asset Utilization Rate Falls by 20%Oilfield Services—DefinitionOilfield Services—Definition (continued)Pressure Point 1—Asset AvailabilityPressure Point 1—Asset Availability (continued)Pressure Point 2—High Costs of Core ServicesPressure Point 3—Protecting Operational MarginsOilfield Services Market—Tectonic ShiftsSmart Oilfield ServicesEcosystem—The Who’s WhoSecond Base—Growth OpportunitiesGrowth OpportunitiesVolatile Oil Prices and the Need to Drive Operational Efficiency Drive the Demand for Responsive and Connected Oilfield ServicesTechnology Convergence Trends to Drive Out InefficienciesConnected Oilfield Services—Defining RealityConnected Oilfield Services—Deep Architecture & Wide StructureChallenges Faced by the O&G IndustryMultilevel IT-OT ArchitectureTotally Integrated Digital Oilfield Growth OpportunitiesGrowth Opportunities (continued)Outcomes of Smart Oilfields—Driving Throughput EfficienciesPartnerships Driving Oilfield EfficienciesUse Case 1—Production Efficiencies: BP + GE PredixConnected Oilfield Services Impacting Predictive Asset ManagementUse Case 2—Predictive Asset Management: IBM Smart SolutionsNeed for 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 Impacting Production Cost EfficienciesUse Case 4—Production Cost Efficiencies: SAP SE + MobilityThird Base—Strategy and InsightsStrategy and InsightsEmergence of a Digital Platform for Oilfield Services Disrupts, Collapses, and Transforms Fragmented Oilfield OperationsOFS Platforms—Pressure Points Driving ConsolidationElements of Digital Oilfield—Bringing Together the SiloesKey Factors Driving InnovationImplications of Platform AdoptionStakeholders PlatformSingle Platform—The New Need Ecosystem—The Who’s WhoEcosystem—Mergers and AcquisitionsUse Case 1—GE: Positioned as a Full Stream Service ProviderUse Case 1—GE: Positioned as a Full Stream Service Provider (continued)Use Case 1—GE: Positioned as a Full Stream Service Provider (continued)Use Case 2—Halliburton: Utilizing Cloud Services to Optimize RecoveryBy 2020, 50% OEM Revenues Will Come from Services, Disrupting the Old Business Model in Favor of the Growth-driven New ModelSmart Solutions to Connect the Oilfield Services EquipmentOilfield Operators—Key Factors for Business Model TransformationTransforming Business Models of Equipment ManufacturersWhat Should Equipment Manufacturers Do?Business Model Transformation Benefits to OEMsAsset Classes and Analytical Services Offered (Partial Listing)Use Case—Chevron Monitoring Performance by Predictive MaintenanceUnfulfilled Needs of Capital, Resource, and Asset Efficiency Threaten the Survival of Automation Companies and Drives Them Toward Portfolio ExpansionTop 5 Objectives of Oil Operators for AutomationOilfield Operator Expectations from Automation CompaniesTechnologies and Domain Expertise—Turning MAC into MIMC*Automation Portfolio Expansion to Drive Smart BusinessM&A of Automation Companies in the OilfieldPartnerships Driving Portfolio ExpansionUse Case 1—Core Automation Moving into AnalyticsUse Case 1—Core Automation Moving into Analytics (continued)Use Case 2—New Alliances Forming in OFS: Analytics PaaSUse Case 3—Predictive Analytics Reducing FailuresUse Case 3—Predictive Analytics Reducing Failures (continued)ICT in Oilfield Services Takes a Leap of Faith with AI; the Age of Unmanned Assistants has Entered the MarketEvolution of IT Applications—AI Taking Over OFSArrival of AI & ML in Oilfield Services—Timely & DisruptiveApplications of AI and Virtual Assistants Across the Value ChainBusiness Model Transformation—From Cloud to AIArtificial Intelligence—The New RealityArtificial Intelligence Architecture in Oilfield ServicesNeural Networks—Stronger in the OilfieldCognitive Computing Enabling OptimizationMachine Learning Application in Oilfield ServicesMachine Learning Application in Oilfield Services (continued)Partnerships Driving Penetration of Artificial IntelligenceUse Case 1—AI Assists in Reservoir ManagementUse Case 2—Production Optimization for Complex FieldsUse Case 3—Convergence Bringing AI to Oilfield ServicesUse Case 3—Convergence Bringing AI to Oilfield Services (continued)Use Case 4—Repsol-IBM Collaboration on Cognitive TechnologiesUse Case 5—Finding New Reserve with New Technological FrontiersArtificial Intelligence & Machine Learning EcosystemTop RecommendationsTop RecommendationsLegal DisclaimerAppendixMicro Boom Research MethodologyList of AbbreviationsAdditional Sources of Information on Connected Oilfield ServicesLearn More—Next Steps

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