Oil & Gas Reservoir Monitoring System Market 2017 Trends, Research, Analysis and Review Forecast 2025
The reduction in the oil & gas price has led to downfall in the overall investment trend in the sector, as major oil & gas projects require huge capital investment. The price downfall made investor more concern towards enhancing the overall production profile rather than deploying huge investments into new projects.
The reduction in the oil & gas price has led to downfall in the overall investment trend in the sector, as major oil & gas projects require huge capital investment. The price downfall made investor more concern towards enhancing the overall production profile rather than deploying huge investments into new projects.
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<strong>Oil</strong> & <strong>Gas</strong> <strong>Reservoir</strong> <strong>Monitoring</strong> <strong>System</strong> <strong>Market</strong> -<br />
Global Industry <strong>Analysis</strong>, Size, Share, Growth,<br />
<strong>Trends</strong>, <strong>and</strong> <strong>Forecast</strong> <strong>2017</strong> - <strong>2025</strong><br />
The reduction in the oil & gas price has led to downfall in the overall investment<br />
trend in the sector, as major oil & gas projects require huge capital investment. The<br />
price downfall made investor more concern towards enhancing the overall<br />
production profile rather than deploying huge investments into new projects.<br />
<strong>Reservoir</strong> monitoring is carried out to improve the production profile of existing<br />
fields. <strong>Reservoir</strong>s are structures that contain reserves of hydrocarbons; these could<br />
be either conventional or unconventional. Conventional reservoirs are those from<br />
which oil & gas can easily flow to the wellhead from wellbores because of their<br />
structural characteristics. On the other h<strong>and</strong>, unconventional reservoirs require<br />
special techniques for hydrocarbon extraction because of the difference in structural<br />
properties of the unconventional to that of conventional reservoirs.<br />
View Report @ http://www.transparencymarketresearch.com/oil-gasreservoir-monitoring-system-market.html<br />
<strong>Reservoir</strong> monitoring is an activity carried out on a routine basis during the<br />
production phase of a field until its ab<strong>and</strong>onment. The monitoring is carried out by<br />
data collection <strong>and</strong> analysis of the parameters such as downhole pressure,<br />
temperature, <strong>and</strong> production in order to identify <strong>and</strong> rectify deviations <strong>and</strong> also<br />
optimize the reservoir performance. The geological <strong>and</strong> simulation models of<br />
reservoir are reviewed <strong>and</strong> are adjusted in order to reproduce the measured field<br />
data. Deviations in the models are corrected <strong>and</strong> the diagnoses carried out is<br />
elaborated based on the interpretation of the required results. The corrections could<br />
include control of production flow or the need for injection wells or requirement to<br />
drill new wells or altering the recovery method used in the field.<br />
Based on technology, the oil & gas reservoir monitoring system market can be<br />
segmented into electrical downhole monitoring systems, fiber optic downhole<br />
monitoring systems, <strong>and</strong> wireless downhole communication monitoring systems.<br />
Electronic sensors are used in electrical downhole monitoring systems to measure<br />
pressure, temperature, flow, <strong>and</strong> other reservoir related parameters <strong>and</strong> electronic<br />
cables to transmit data for reservoir monitoring. Fiber optic downhole monitoring<br />
systems employ small lasers, which fire off a light pulse through the cable <strong>and</strong><br />
returns to an optical receiver, while delivering the information in the form of signals<br />
<strong>and</strong> noise, which are sorted with the help of an interrogator unit. Wireless downhole
communication monitoring system uses telemetry systems to measure pressure,<br />
temperature, <strong>and</strong> other parameters. It then sends these measurements to the<br />
surface with the help of various technologies such as acoustics, sonic, <strong>and</strong> pressure<br />
pulse. Based on location, the oil & gas reservoir monitoring system market can also<br />
be divided into onshore <strong>and</strong> offshore reservoirs<br />
Based on region, the oil & gas reservoir monitoring system market can be classified<br />
into North America, Latin America, Middle East & Africa, Europe, <strong>and</strong> Asia Pacific.<br />
North America is expected to dominate the global oil & gas reservoir monitoring<br />
system market in the near future. The U.S. is anticipated to account for the leading<br />
share of the market due to the ongoing shale activities in the country. Middle East &<br />
Africa is estimated to follow North America; the oil & gas reservoir monitoring<br />
system market in the region is projected to exp<strong>and</strong> at a moderate pace in the near<br />
future. The oil & gas reservoir monitoring system market in Asia Pacific is likely to<br />
exp<strong>and</strong> at a fast pace during the forecast period due to the increase in oil & gas<br />
exploration <strong>and</strong> production activities in the region.<br />
Key players operating in the oil & gas reservoir monitoring system market include<br />
Halliburton Co., Weatherford International Limited, CGG SA, Petrospec Engineering,<br />
Schlumberger Limited, Baker Hughes Inc., Multi-Chase Group, OCTIO AS, <strong>and</strong> Roxar<br />
Software Solutions AS.<br />
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