The increasing production of shale gas is fueling the demand for digital oilfield technology across the world. In the U.S., the mushrooming production of shale gas is resulting in the generation of large amounts of data related to production and drilling cycles and seismic and spatial information. As per the U.S. Energy Information Administration (EIA), in the U.S., shale resources were responsible for the production of nearly 16.76 trillion cubic feet (Tcf) of dry natural gas.

Thus, large shale data areas in the country are yet to be tapped and structured. Moreover, it is very important to examine and coordinate such large unstructured data sets for boosting the production and drilling performance. This is propelling the requirement for digital oilfield technology all over the country as this technology employs the use of big data analytics for capturing, analyzing, and transforming data into easy-to-understand and simple sets.

Access Report Summary - Digital Oilfield Technology Market Segmentation Analysis Report

Globally, the demand for digital oilfield technology was found to be the highest in Europe and North America in the past years. This was because of the existence of numerous oilfields, extensive shale gas E&P activities, the huge investments made by various organizations, and the large-scale adoption of advanced technologies by several E&P organizations in these regions. In the future years, the requirement for this technology will rise at the fastest rate in the Middle East and Africa (MEA) region.

Hence, it can be said with surety that the demand for digital oilfield technology will shoot up all over the world in the coming years, primarily because of the mushrooming production of shale gas and the increasing requirement for advanced technologies by E&P companies.