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Dependency on Natural Oil and Gas Resources Sustaining Demand for Smart Well

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Published on : Feb 09, 2017

ALBANY, NY, FEb 09, 2017: The report is an in-depth analysis of the market for small well in current scenario, and based on several factors that are expected to impact the growth rate during the forecast period of 2017 to 2021, it projects a healthy CAGR of 4.48%. One of the key aspect of the report is its section on company profiles wherein some of the prominent names in the market have been analyzed for their market share, product portfolio, and strategic developments.

Smart well refers to the automation of well, which not only makes processes more efficient but also enable direct monitoring. A smart well has two basic features: it is capable of collecting, transferring, and analyzing the production of wellbore as well as monitoring the reservoir. Also, it allows remote processes to control of the production processes. The increasing demand for oil and gas is the primary driver in the market for smart well as it increases the efficiency and also helps in loss of production.

According to the report, some of the other factors favoring the global smart well market are: migration of drilling into unconventional areas, increased use of horizontal and multilateral wells, and focus on reduction of non-productive time (NPT). Factors that may hinder the growth rate during the forecast period include decreasing investment in oil and gas industry, uncertainties associated with low crude oil prices, and increasing cyber security concerns. Some of the latest trends in the market that are highlighted by the report are IT integration and digitization of oil fields, increase in deepwater and ultra-deepwater exploration, and fluctuation in oil rigs. Each of these factors have been analyzed in detail in the report, and conclusions have been achieved.

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Based on application, the report segments the global small well market into onshore and offshore. Geographically, it studies the lucrativeness of the regional markets of the Americas, EMEA, and APAC. 

To understand the competitive landscape, the report includes profiles of key companies in global small well market such as Baker Hughes, Halliburton, National Oilwell Varco, Schlumberger, and Weatherford International. Some of the other prominent vendors identified by the report in this market are Statoil, Salym Petroleum, Woodside Energy, Emerson process management, INTECH process automation, Nabors Completion & Production Services, RPC Inc., Superior Energy Services, Trican Well Services, and Welltec International AS. Porter’s five forces analysis has also been included.

The report throws light on some of important questions such as the key countries for the players to focus on, what products are offered by the top players, and oil and gas market value chain. Some of the 

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