Oil & Gas Upstream Market Size, Share and Forecast 2026
The Global Oil and Gas Upstream Market was valued at USD xx trillion in 2017 and are forecasted to reach USD xx trillion by 2025, with a CAGR of xx% during the forecast period (2018-2025).
(EMAILWIRE.COM, September 11, 2019 ) Market Overview
The upstream oil and gas market is also called Exploration and Production (E&P) sector. Up-stream oil & gas market encompasses activities related to searching for, recovering and producing crude oil and natural gas.
The upstream market consists of public as well as private companies. Companies who operate only in the upstream segment are called Inde-pendents. Companies which work in all three parts are called integrated oil companies (IOCs). Upstream Industry is heavily dependent on oilfield services.
Although demand for oil & gas is increasing steadily, Global oil reserves have not increased in recent years.
Market Dynamics
Declining investments in Oil and gas explorations will further affect the growth in the market over the forecast period to 2025.
Increasing environmental concerns will impact the industry in the long term. After 2016 Paris agreement, World Bank announced it would no longer finance upstream oil & gas after 2019.
The upstream market is highly regulated and impacted by global politics.
Neither Nuclear nor solar or wind has made oil & gas unnecessary. So only oil & gas price fluctuations in the global market are what matters.
Market Segmentation
Global Upstream, oil & gas market, can be segmented by Resource type, by production site, and by drilling technology.
By resource type, the market can be segmented into crude oil & natural gas. Although crude oil reserve often contains some natural gas in it. There are reserves for natural gas also.
Based on the production site, the market can be segmented into onshore & offshore. On-shore upstream oil market segment is accounted for the largest share globally, due to increased investments in the coastal oil explorations.
Based on drilling technology, upstream oil & gas market can be segmented into Conventional & Unconventional drilling. Conventional technology includes traditional vertical drilling technology.
Although it is cheaper than non- conventional, it has limitations. Unconventional drilling technology comprises horizontal drilling, multilateral drilling, extended reach drilling, and complex path drilling.
Unconventional drilling technologies are becoming less expensive over time. Horizontal drilling has gained popularity due to shale oil production.
A horizontal well is generally more expensive to drill than a vertical well, but it produces more crude oil and natural gas.
In 2016, hydraulically fractured horizontal wells accounted for 69% of all oil and natural gas wells drilled in the United States. Horizontal drilling is used for drilling in harsher conditions.
By Resource
Crude Oil
Natural Gas
Others (oil sands, shale oil, etc.)
By production site
Onshore
Offshore
By Drilling Technology
Conventional
Vertical Drilling
Unconventional
Horizontal Drilling
Others
By Region
The Middle East and Africa
Asia Pacific
Europe
North America
South America
Geographical Analysis
Based on region, the market can be segmented into the Middle East, North America, Europe & CIS, Africa, Asia-Pacific, and Central and South America.
North America is the leading region in the upstream oil and gas market is mainly due to higher capital expenditures in North America and investment in shale oil production using unconventional drilling technologies.
The Middle East and African Oil & gas upstream market is declined mainly due to the price drop in oil products globally.
Market Companies
A good number of prominent companies are government owned. Major players in the upstream oil & gas market are Saudi Aramco, Gazprom, ExxonMobil, Rosneft, PetroChina, BP, Sinopec, Royal Dutch Shell, Total S.A, and Chevron.
Some of the Independent energy & power companies, are Carrizo Oil & Gas Inc, Laredo Petroleum, Newfield Exploration, Matador Resources, and Devon Energy.
In the extended downturn from 2014 to 2017, upstream companies have reduced costs. If unconventional drilling technologies get cheaper, the influence of Gulf countries on oil production might diminish in the coming years.
View full sample report: https://www.datamintelligence.com/research-report/oil-gas-upstream-market
Download free sample: https://www.datamintelligence.com/download-sample/oil-gas-upstream-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
The upstream oil and gas market is also called Exploration and Production (E&P) sector. Up-stream oil & gas market encompasses activities related to searching for, recovering and producing crude oil and natural gas.
The upstream market consists of public as well as private companies. Companies who operate only in the upstream segment are called Inde-pendents. Companies which work in all three parts are called integrated oil companies (IOCs). Upstream Industry is heavily dependent on oilfield services.
Although demand for oil & gas is increasing steadily, Global oil reserves have not increased in recent years.
Market Dynamics
Declining investments in Oil and gas explorations will further affect the growth in the market over the forecast period to 2025.
Increasing environmental concerns will impact the industry in the long term. After 2016 Paris agreement, World Bank announced it would no longer finance upstream oil & gas after 2019.
The upstream market is highly regulated and impacted by global politics.
Neither Nuclear nor solar or wind has made oil & gas unnecessary. So only oil & gas price fluctuations in the global market are what matters.
Market Segmentation
Global Upstream, oil & gas market, can be segmented by Resource type, by production site, and by drilling technology.
By resource type, the market can be segmented into crude oil & natural gas. Although crude oil reserve often contains some natural gas in it. There are reserves for natural gas also.
Based on the production site, the market can be segmented into onshore & offshore. On-shore upstream oil market segment is accounted for the largest share globally, due to increased investments in the coastal oil explorations.
Based on drilling technology, upstream oil & gas market can be segmented into Conventional & Unconventional drilling. Conventional technology includes traditional vertical drilling technology.
Although it is cheaper than non- conventional, it has limitations. Unconventional drilling technology comprises horizontal drilling, multilateral drilling, extended reach drilling, and complex path drilling.
Unconventional drilling technologies are becoming less expensive over time. Horizontal drilling has gained popularity due to shale oil production.
A horizontal well is generally more expensive to drill than a vertical well, but it produces more crude oil and natural gas.
In 2016, hydraulically fractured horizontal wells accounted for 69% of all oil and natural gas wells drilled in the United States. Horizontal drilling is used for drilling in harsher conditions.
By Resource
Crude Oil
Natural Gas
Others (oil sands, shale oil, etc.)
By production site
Onshore
Offshore
By Drilling Technology
Conventional
Vertical Drilling
Unconventional
Horizontal Drilling
Others
By Region
The Middle East and Africa
Asia Pacific
Europe
North America
South America
Geographical Analysis
Based on region, the market can be segmented into the Middle East, North America, Europe & CIS, Africa, Asia-Pacific, and Central and South America.
North America is the leading region in the upstream oil and gas market is mainly due to higher capital expenditures in North America and investment in shale oil production using unconventional drilling technologies.
The Middle East and African Oil & gas upstream market is declined mainly due to the price drop in oil products globally.
Market Companies
A good number of prominent companies are government owned. Major players in the upstream oil & gas market are Saudi Aramco, Gazprom, ExxonMobil, Rosneft, PetroChina, BP, Sinopec, Royal Dutch Shell, Total S.A, and Chevron.
Some of the Independent energy & power companies, are Carrizo Oil & Gas Inc, Laredo Petroleum, Newfield Exploration, Matador Resources, and Devon Energy.
In the extended downturn from 2014 to 2017, upstream companies have reduced costs. If unconventional drilling technologies get cheaper, the influence of Gulf countries on oil production might diminish in the coming years.
View full sample report: https://www.datamintelligence.com/research-report/oil-gas-upstream-market
Download free sample: https://www.datamintelligence.com/download-sample/oil-gas-upstream-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results