Dublin, April 14, 2022 (GLOBE NEWSWIRE) -- The "Oil & Gas Upstream Activities Global Market Report 2022, By Type, Drilling Type, End-User" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global oil & gas upstream activities market as it emerges from the Covid 19 shut down.
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Major companies in the oil & gas upstream activities market market include Iraq Ministry of Oil, Gazprom PAO, Saudi Aramco, National Iranian Oil Company, Royal Dutch Shell, Rosneft, Schlumberger Ltd., Equinor, Gazprom Neft, and Chevron.
The global oil & gas upstream activities market is expected to grow from $3,567.49 billion in 2021 to $3,934.81 billion in 2022 at a compound annual growth rate (CAGR) of 10.5%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $5,663.36 billion in 2026 at a CAGR of 9.5%.
The oil and gas upstream activities market consists of sales of crude oil and natural gas by entities (organizations, sole traders or partnerships) that undertake the pre-refining activities of crude oil and natural gas production.
The main types of oil and gas upstream activities are crude oil, natural gas, oil and gas wells drilling services, oil and gas supporting activities. Crude oil is a naturally occurring petroleum product made up of hydrocarbon deposits and other organic materials that is extracted from the earth and refined into gasoline, jet fuel, and other petroleum products. The different drilling types include offshore, onshore and is used by various sectors such as crude petroleum comprises, natural gas extraction comprises
Asia Pacific was the largest region in the oil & gas upstream activities market in 2021. North America was the second largest region in the oil & gas upstream activities market. The regions covered in the oil & gas upstream activities market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Oil and gas extraction companies around the world are investing heavily in digital oilfield technology to enhance oil and gas production. Digital oil fields integrate advanced software, hardware, and data analysis techniques to collect real-time data from the oilfield. They consist of visualization, product surveillance, integrated decision making, and remote communication systems. Digital technologies in oil fields include high-performance drill bits, advanced electrical submersible pumps, and 3D seismic imaging and reservoir modelling.
Oilfields digitization facilitates efficient utilization of human resources and thus optimizes the profitability of oil production. This technology is changing the competitive landscape with a fact that an increase in production efficiency by ten percentage points can yield an impact of $220 million to $260 million on the bottom-line. According to IHS CERA, digital oilfield implementation leads to increase in oil production by 2 to 8%and reduction in operating expense by 5 to 25%. For Instance, some of the major companies investing in digital oilfields include Noble Corp, Statoil and Apache Corp.
Oil and gas well drilling companies are adopting 3D visualization systems to reduce project cycle times and increase drilling accuracy.3D visualization system generates a 3D model of a wellbore and real-time drilling data to monitor and optimize drilling process. This system facilitates automatic diagnosis of drilling problems and improves and streamlines collaboration by allowing geoscientists and drilling engineers to virtually locate, see, and test drilling sites, resulting in significant cost savings of up to20% and reduction in non-productive drilling time by 20%.
These systems are integrated with asset teams by means of software, thus facilitating precise and accurate placement of drill sites. For Instance, some of the major companies offering 3D visualization technology companies include eDrilling, Hexagon, Mechdyne and Landmark.
Oil and Gas Wells Drilling Service providers are using seismic technology to map and interpret potential hydrocarbon reserves. 4d seismic technology is used to track the change in the physical properties of the reservoir rocks which are caused due to changes in reservoir pressure, temperature and fluid saturation. It tracks these changes by repeating 3D seismic surveys over time-to-time to create a time-lapse or 4D seismic image. These technology works as a tool to minimize drilling risk and maximize the return on investment . For Instance, some of the major companies using this technology include Statoil, NTNU, and Chevron.
The countries covered in the oil & gas upstream activities market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Oil & Gas Upstream Activities Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Oil & Gas Upstream Activities Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Oil & Gas Upstream Activities Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Oil & Gas Upstream Activities Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Oil & Gas Upstream Activities Market Trends And Strategies
8. Impact Of COVID-19 On Oil & Gas Upstream Activities
9. Oil & Gas Upstream Activities Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers Of The Market
9.2.2. Restraints On The Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers Of The Market
9.3.2. Restraints On The Market
10. Oil & Gas Upstream Activities Market Regional Analysis
10.1. Global Oil & Gas Upstream Activities Market, 2021, By Region, Value ($ Billion)
10.2. Global Oil & Gas Upstream Activities Market, 2016-2021, 2021-2026F, 2031F, Historic And Forecast, By Region
10.3. Global Oil & Gas Upstream Activities Market, Growth And Market Share Comparison, By Region
11. Oil & Gas Upstream Activities Market Segmentation
11.1. Global Oil & Gas Upstream Activities Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Global Oil & Gas Upstream Activities Market, Segmentation By Drilling Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.3. Global Oil & Gas Upstream Activities Market, Segmentation By End User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Oil & Gas Upstream Activities Market Segments
12.1. Global Crude Oil Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) -
12.2. Global Natural Gas Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) -
12.3. Global Oil And Gas Wells Drilling Services Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Onshore Drilling Services; Offshore Drilling Services
12.4. Global Oil And Gas Supporting Activities Market, Segmentation By Type, 2016-2021, 2021-2026F, 2031F, Value ($ Billion) - Well Maintenance; Exploration; Well Developing
13. Oil & Gas Upstream Activities Market Metrics
13.1. Oil & Gas Upstream Activities Market Size, Percentage Of GDP, 2016-2026, Global
13.2. Per Capita Average Oil & Gas Upstream Activities Market Expenditure, 2016-2026, Global
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