Investment Remains Strong in a Challenging Environment
The Automation Expenditures in Upstream Oil & Gas Worldwide Outlook examines the market for automation systems and field devices in the exploration, production, and midstream sectors of the global oil & gas industry.
The industry has seen a major drop in demand over the past two years, a collapse in once lofty prices, and still faces a very uncertain outlook. Recently, prices and demand have begun to recover somewhat. Oil and gas companies have made some adjustments in response to the downturn, but still plan to make major investments in coming years to build capacity for an increase in demand over the long term.
With access to only a small percentage of proven worldwide reserves, integrated oil companies must attempt to replace their reserves in remote areas that are much less hospitable and more dangerous - both environmentally and politically. This is driving huge expenditures in large, complex, and difficult capital projects.
According to estimates, demand for petroleum products will increase substantially, particularly in developing regions. Today's production and processing capacities struggle to keep ahead of the demand curve and both upstream and midstream facilities will need to be expanded, increasing demand for automation systems and field devices.
Strategic Issues
This study provides strategic market information and guidance for automation systems and field devices to the worldwide upstream oil & gas exploration and production marketplace. In addition to quantitative assessments, the study also identifies key strategic issues that will have a future impact on this market:
- Market potential and size for automation systems and field devices
- Leading suppliers in this vertical industry sector
- Market size in various world regions
- Strategies for suppliers and manufacturers in the worldwide oil & gas industry to maximize opportunities in a dynamic energy market
