Global Hydrocarbons Accounting Solutions Market Need for Efficient Extraction of Oil and Gas Strengthens

Market Overview

The ultimate goal of all oil and gas operators across the globe is to extract hydrocarbon as cost effective as possible. In order to achieve this goal, their entire system should be automated and error free starting from the extraction process to the delivery and transportation of oil and gas to buyers, which can be achieved by implementation of hydrocarbons accounting solutions. Additionally, oil and gas operators are increasingly launching their projects in remote locations that are often in difficult environmental condition, which in turns, also increases the demand for hydrocarbons accounting solution across the upstream industry. Hydrocarbons accounting solutions are being increasingly adopted by players in upstream industry for various applications such as production management, reporting and allocation, transport management solution (takes care of transportation data and activity while transporting hydrocarbons through pipelines, trucks or vessels), and sales management, revenue management and other supply chain management related applications.

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Market Highlights:

Technological innovations in cloud computing and data analytics are contributing immensely in making these type of hydrocarbons accounting software more robust and accurate, which helps to increase adoption of these solutions among the end-users. Most of the hydrocarbons accounting solution providers offers solutions, which can be integrated seamlessly with multiple applications such as ERM, reserves management, GIS, land and lease management, well management and other applications used by upstream industries. Previously, upstream industry was not bounded by government rules and regulations. However, with changing market scenario around oil and gas producers, the requirement to manage this industry by intelligent solutions increases.

In order to achieve an objective of increased production in cost effective and efficient manners, various oil and gas operators have different specific requirements across the industry, hence it’s a challenge for hydrocarbon solutions providers to provide customized solutions which support different needs and yet maintain profitable business model.

Traditionally, hydrocarbon accounting has mostly taken place at the level of individual fields or operating companies. However, changes in the global market around producers of a field, the pursuit of natural gas, and increased regulation are just some of the factors driving oil and gas companies to look for applications that have a more comprehensive view.

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Top Industry Players:

This report studies the global Hydrocarbons Accounting Solution market, analyzes and researches the Hydrocarbons Accounting Solution development status and forecast in United States, EU, Japan, China, India and Southeast Asia. This report focuses on the top players in global market, like: SAP, Adept Solutions, P2 Energy Solutions, Tieto, Quorum Business Solutions, EnergySys, Schlumberger, JPL, Pansoft, CGI Group, Wipro Limited, Infosys

Market Segment

Market Segment by Regions, regional analysis covers
• North America (United States, Canada and Mexico)
• Europe (Germany, France, UK, Russia and Italy)
• Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
• South America (Brazil, Argentina, Colombia)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Market Segment by Type, covers
• On-premises
• Cloud-based

Market Segment by Applications, can be divided into
• Oil
• Natural Gas
• Water

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