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Global Satellite Communication Market in the Oil and Gas Industry 2014-2018

C&M: Global market for satellite communications driven by challenging environment of oil and gas rigs


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17.03.2014 14:47:01 - Global Satellite Communication Market in the Oil and Gas Industry 2014-2018 - a new market research report on companiesandmarkets.com

(live-PR.com) - The Global Satellite Communication market in the Oil and Gas industry is to grow at a CAGR of 5.74 percent over the period 2013-2018. One of the key factors contributing to this market growth is the challenging environment of oil and gas rigs. The Global Satellite Communication market in the Oil and Gas industry has also been witnessing the use

 

of satellite communication for the ultra-deep water exploration. However, the increasing adoption of fiber optics connectivity could pose a challenge to the growth of this market.

Currently, almost 135 UDW rigs are being operated in the Atlantic Ocean. The number of UDW rigs is expected to reach 220-230 units by 2018. Geographically, these rigs will be placed in very risky offshore locations such as in the Indian Ocean, the Pacific Ocean nearer to China, and the Atlantic Ocean nearer to Canada and Greenland. UDW is a very complex exploration process that requires very high safety as well as efficient operational performance. In addition, it requires a large amount of integrated real-time process automation associated with high risks. Hence, UDW rigs require highly reliable broadband networks. Further, as the UDW market is expanding, there is a need for robust and remote communication services in new areas. Thus, satellite communication for UDW exploration is an emerging trend that is expected to propel the growth of the market.

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Author:
Mike King
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