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Middle East to top oil and gas analytics market in four years

Middle East would be the biggest industry for oil and gas analytics market by 2019, said MarketsandMarkets report

According to the report, the Middle East market would be followed by Africa and North America in term of growth. The oil and gas analytics industry is also estimated to be worth US$19.65bn by 2019, added the report.

The drivers for this market are global demand for oil and gas, untapped value of big data in the oil and gas industry and the asset intensive nature of the industry.

According to the report, the oil and gas analytics solutions provide the companies with demand forecasts of the current market. The drilling analytics indicates the feasible and appropriate production rates for the company. Big data analytical platforms have revolutionised oil companies by improving exploration, drilling practices, logistics, supply chain management and downstream marketing and trading.

“The restraints for this market are the price volatility in the oil and gas market, stringent regulations and compliances over the industry, harsh climatic conditions and communication links. Cloud analytics and the evolution of digital oilfields have been acknowledged as opportunities in this market, while depleting oil and gas reserves and an aging workforce are the major challenges,” revealed MarketsandMarkets.

Oracle, SAP AG, Accenture and SAS are some of the prominent players, which would provide reliable oil and gas analytics software, concluded the report.


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The oil and gas industry has been increasingly adopting AI technology in recent years, and this trend is expected to continue in the coming years. (Image source: Adobe Stock)

SmartMaster can be used with a range of ABB and third-party instruments. (Image source: ABB)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

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ARO Drilling and IMI announce first Kingdom jack up rig (Image source: ARO)

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

Michael Monica, director sales, marketing and customer care at GPT Industries signs the agreement with Mohamed Altaf, sale manager, Abdulla Fouad Energy Services. (Image source: Alain Charles Publishing)

Amin H. Nasser, CEO of Aramco. (Image source: Aramco)

The system can activate notification and hazard mitigation equipment to notify workers and safeguard facilities. (Image source: MSA Safety)

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The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

The new technology is designed to address the challenging conditions in unconventional wells. (Image source: Adobe Stock)

Source: SafeStart

The Ampelmann A-type enabling safe offshore access in the Middle East. (Image source: Ampelmann)

Aramco has produced the first unconventional tight gas from its South Ghawar operational area ahead of schedule. (Image source: Adobe Stock)

Gaurav Khupsare, Director, MACS-G Solutions. (Image source: Alain Charles Publishing)

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The oil price is hovering around the US$90/bbl mark. (Image source: Adobe Stock)

The Craig International Qatar team. (Image source: Craig International)

The SuperFill II diverter reduces induced surge pressure. (Image source: Halliburton)

Among other services, KBR will offer proprietary equipment for NCIC's 1,200 metric tonnes per day ammonia plant. (Image source: Adobe Stock)

The expansion is expected to increase the plant’s processing capacity from 2.5 to up to 4 billion standard cubic feet per day (bscfd). (Image source: Aramco)

Comparison of conventional workflow with DUG MP-FWI imaging. (Image source: DUG)

ADNOC Gas recorded robust financial and operational results in 2023. (Image source: Adobe Stock)

Over 4,000 km of SoluForce pipe has been installed around the world. (Image source: SoluForce)

Block 56 is targeted for commercialisation in 2024. (Image source: Canva)

The programme will optimise asset lifecycle, enhance machinery performance and improve overall reliability. (Image source: Adobe Stock)

The use of blockchain in the oil and gas sector is set to increase substantially. (Image source: Adobe Stock)

Source: SafeStart

GAC Saudi Arabia has extensive operations at major ports in Saudi Arabia. (Image source: GAC Saudi Arabia)

The company is well positioned in 2024, with a reshaped and resilient business and a strong balance sheet. (Image source: Adobe Stock)

The vessel addresses the growing demand for accurate hydrographic data. (Image source: Fugro)

The virtual inhouse seismic processing centre will allow each of the decentralised business units of Wintershall Dea globally to collaborate efficiently and directly with DUG. (Image source: Adobe Stock)