Dublin, March 25, 2019 (GLOBE NEWSWIRE) -- The "Oilfield Exploration & Production Markets: A Research Outlook" report has been added to ResearchAndMarkets.com's offering.

The scope of the report includes a general outlook of oil & gas exploration and production sector, with the scope limited to reports published during the year 2017 and 2018. This report segments the market into two major sub-segments i.e. oil & gas exploration and oil & gas production.

The exploration segment explains the prevalent and upcoming technologies covering the qualitative aspects of the market in brief. The report divides the production market into technologies and components. Production technologies discussed in the report include enhanced oil recovery technology and Fracking technology.

A detailed overview of these technologies coupled with relevant market data in terms of market size measured in dollar terms is provided. The Production components covered in this study include oilfield process chemicals and drill pipes.

The report includes:

Global oil and gas market is on a growth trajectory after a long gap of the downturn, yet global geopolitical activities are shaping up the further roadmap. The recent preparations to revise sanctions on Iran by the United States based on the counterbalance provided by the kingdom of Saudi Arabia to meet additional oil production and maintain oil price stability are something to watch out for.

Much of the OPEC members were able to moderate the production to maintain a supply and demand balance to control the oil prices, but members such as Venezuela still lingers on the internal crisis that has led to fall in the oil production in the country. The future of oil prices would be dependent on the outcome of these global political decisions. However, the industry has reshaped itself better in the downturn and is prepared well to absorb shocks and propel with faster efficiency.

Using advanced 3-D and 4-D (time-lapse) seismic exploration techniques in conjunction with technologies such as portable X-ray fluorescence (XRF) analyzers, hydraulic fracturing and horizontal drilling, resources including abandoned/old pressure-depleted wells, tight oil, shale gas, shale oil, tight gas and coal bed methane have completely transformed the U.S. energy landscape by facilitating access to reserves that were previously unavailable. This success in the U.S. with unconventional resources and marginal reserves has prompted other countries to reconsider developing their own unconventional and marginal resources and assessing how soon this can be achieved.

Development of super-strong alloys allows drill bits to go into high-temperature, high-pressure fields. Other advances include logging while drilling, horizontal/directional drilling, smart drill bits and miscible methods for enhancing oil recovery. Exploration for new sources of oil and gas has always been the primary strategy of the oil industry but digging and recovering more efficiently is perhaps of greater importance when finances are stretched, and untested areas are riskier.

Producers are instead faced with three options:

Advanced exploration and downhole technology are redirecting the search, identification, and recovery of bypassed oil and gas, thus ensuring higher productivity to be coaxed out of mature, old, dormant/abandoned and pressure-depleted fields and enabling the monetization of stranded reserves. Since the oil price dip in 2014, exploration activities have gained gradual traction in recent years.

The rising number of auctions for exploration and equally enthusiastic response from upstream companies is evidence of this growing positivity. Recently companies such as Shell, Eni, Chevron and Repsol won exploration bids for the Mexcian Deepwater auctions. Exploration activities grew offshore in Cote d' Ivoire by British Petroleum and Kosmos. Tullow won offshore licenses in Cote d'Ivoire and Peru.

Key Topics Covered

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market and Technology Background

Chapter 4 Oil and Gas Exploration Technologies

Chapter 5 Oil and Gas Production Technologies

Chapter 6 Oil and Gas Production Components

Chapter 7 Company Profiles

For more information about this report visit https://www.researchandmarkets.com/research/8qsgdr/oilfield?w=12

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Related Topics: Oil and Gas Exploration and Production, Oilfield Equipment and Services