Digital Oilfield Market

Top Companies in Digital Oilfield Industry - SLB (US) and NOV Inc. (US)

The global digital oilfield market is projected to reach USD 43.0 billion by 2029 from an estimated USD 30.1 billion in 2023, at a CAGR of 6.3% during the forecast period. The growing emphasis on maximizing production from mature fields, stringent regulations, and environmental compliances are driving the growth of the digital oilfield market.

Due to their strong supply network, a few global and regional players hold a strong foothold in the digital oilfield market. SLB (US), Weatherford (US), Baker Hughes Company(US),  Halliburton (US), and NOV Inc. (US) are the market leaders in the digital oilfield market. These companies have adopted strategies such as partnerships, collaborations, mergers, investments and expansions to increase their market share.

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SLB is an oilfield service provider that delivers a comprehensive range of products, services, technologies, information solutions, and integrated project management solutions to the oil and gas industry worldwide. Its primary business activities encompass research and engineering, manufacturing, operations, maintenance, and resource planning. The company operates through four distinct business segment namely, Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company offers a digital oilfield experience through its digital and integration segments.

SLB has a global footprint spanning North America, Latin America, Europe/Africa/Commonwealth of Independent States (CIS), the Middle East, and Asia.

Pason Systems Corp. specializes in providing data management systems for drilling rigs. The company offers solutions such as data acquisition, wellsite reporting, remote communications, and web-based information management. The company operates through five business segments: Drilling Data, Mud Management and Safety, Communications, Drilling Intelligence, and Analytics & Others. Pason offers a digital oilfield through the Drilling Data and Drilling Intelligence segment.

Drilling Intelligence optimizes drilling operations by using state-of-the-art automation and control algorithms. It includes products such as DAS, which uses a machine-learning algorithm for drilling, detecting dysfunction, and even sending alerts on a real-time basis. Drilling Data enables accessing data from operations and events at the rig in real-time, anytime, anywhere.

Pason Systems Corp. has acquired companies such as Petron Industries (US), 3PS (Brazil), and Verdazo Analytics(Canada) to add drilling data acquisition product offerings and gain exposure to other upstream oil & gas market segments. The company has a presence in the US, Mexico, Australia, Asia Pacific, South America, Middle East, and African countries.

NOV Inc. manufactures, designs, and sells oilfield equipment and components for the upstream exploration and production sectors of the oil & gas industry. The company operates through three segments, namely, Wellbore Technologies, Completion & Production Solutions, and Rig Technologies. Wellbore Technologies segment provides technologies, equipment, and services required to maximize customer efficiencies with oil and gas wells.

NOV operates in North America, South America, Asia Pacific, Europe, and the Middle East. The company has its training centers in Houston, Norway, Brazil, Dubai, Singapore, and Scotland. It has 101 service centers that provide inspection and equipment rental facilities.

Related Reports:

Digital Oilfield Market by Solution (Hardware, Software & Service, Data Storage Solutions), Processes (Reservoir, Production, Drilling Optimizations, Safety Management), Application (Onshore, Offshore), Technology and Region - Global Forecast to 2029

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Digital Oilfield Market Size,  Share & Growth Report
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