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November 2017 Special Report: Industry moving with technical advances

by Indrajit Sen on Nov 12, 2017


The global market for oil and gas automation is estimated to grow from $10.29bn in 2016 to $15.94bn by 2021, at a CAGR of 7.57%, according to a report by Mordor Intelligence.
The global market for oil and gas automation is estimated to grow from $10.29bn in 2016 to $15.94bn by 2021, at a CAGR of 7.57%, according to a report by Mordor Intelligence.

It is well-recognised that the oil and gas industry, persistently faces challenges in cost management, extraction of high value from current assets, and maximisation of the up-time.

Advancement in technology has led to a connected enterprise, which helps the sector to move closer to operational excellence. Cloud, mobility, and analytics offer an actionable view into real-time production data.

The corresponding response to issues can thus be made as soon as they arise, from anywhere in the world. Improvements in exploration and production can eventually boost efficiency and productivity. The role played by automation technology in the industry is getting complex by the day, as initially, it was limited to just machine controls, while currently, and in the future, automation techniques are anticipated to control and manage assets. However, considering the fact that automation helps achieve reduction in energy consumption and make optimum use of the generated data, there is ample scope for this industrial concept to grow in scope within oil and gas.

The global market for oil and gas automation is estimated to grow from $10.29bn in 2016 to $15.94bn by 2021, at a CAGR of 7.57%, according to a report by Mordor Intelligence. Currently, North America is the largest regional market, while the US also takes a major share of the global production in this region. Additionally, the market in wider Asia-Pacific region is also estimated to witness a tremendous growth in demand over the coming years.

“We have seen a significant uptick in automation in upstream (sector) across the Middle East,” Andrew Dennant, Oil & Gas director for the MEA region at Emerson Automation Solutions, says.

Traditionally, wells were not instrumented and operators travelled to the wellsite to check the well status. Now almost all new wells are specified with measurement instrumentation and several clients are retrofitting existing wells to monitor pressure and temperature of the wellhead, annulus and flowline. Some more forward-thinking clients are installing Multiphase Flow Meters on wellheads to gain an insight into changing production characteristics as they happen.”

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