In South American market, Venezuela has the largest proven oil reserves in the world. It is also one of the largest oil exporting countries in the world. It has huge refineries to process the oil it takes out. Other countries in this region like Columbia have onshore and offshore oil deposits,.Ecuador also has a huge market for oil exports. The huge potential for growth in oil & gas production and distribution will boost the automation market in this region.
Increasing demand for oil and gas is pushing the global market for automation. New oil and gas wells are being discovered continuously while old ones which have been underutilized are being rejuvenated with the help of automation and control technologies. Oil and Gas Automation Market has huge growth opportunity in emerging economies where exploration has just begun. These technologies help the companies to realize cost benefits, increase productivity and improve their safety standards. The technologies are also helping the enterprises to carry out the oilfield operations, production, processing, distribution and retailing of the petroleum products efficiently and with reduced errors.
There are various products like Distributed Control Systems, Programmable Logic Controllers, Human Machine Interface and Supervisory Control and Data Acquisition which help oil corporations to realize the benefits achieved through automation. Some of the major players in this market are ABB, Siemens, GE, Metso and Schneider Electric. Some other players like Fuji electric, Maverick Technologies, Climation, and National Instruments along with some others have also been covered in this report.
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