Oil and Gas Equipment & ServicesRead more ›
Oil and Gas Equipment & Services
This sector is characterized by big data for predictive maintenance and software and automated processes to increase efficiency. Standardization, remote operation of oilfield equipment, machine learning, artificial intelligence, and heuristic algorithms are all features.
The aim is to respond quickly to customer needs through the latest technologies and the development of new services. This offers oilfield companies the best opportunity to gain or maintain market share, beating off increased competition from third-party cloud and data services.
Company specific thoughts:
Based on our survey, the following companies seem best-positioned to respond to market opportunities and challenges in the oilfield services sector:
- Use of big data for predictive maintenance: Baker Hughes, National Oilwell Varco, FTI Consulting, Diamond Offshore Drilling, Transocean
- Use of software applications and automation of mechanical processes to drive efficiency: Helmerich & Payne, Nabors Industries
- Remote operation of oilfield equipment: Schlumberger N.V., Haliburton
- Standardization of equipment and processes: FTI Consulting
- Use of machine learning, artificial intelligence, and heuristic algorithms: Schlumberger N.V., Haliburton, Core Laboratories N.V.