Automation market for oil and gas to expand: ARC Advisory Group - Industrial IT

By
Viraj
on May 4, 2009 9:27 AM | | TrackBacks (0)
ARC Advisory Group claims the global oil and gas industries are set to increase spending on automation technology, despite the economic downturn.

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According to the ARC Advisory Group study “Automation Expenditures for Upstream Oil & Gas Industry Worldwide Outlook”, the automation expenditure on the part of upstream oil and gas sector, which includes exploration, production, and pipelines, is expected to attain a compounded annual growth rate of 9% over the next five years. While the automation market for oil and gas was US$6.9b in 2007, this is expected to grow to US$10.4b by 2012.

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This page contains a single entry by Viraj published on May 4, 2009 9:27 AM.

The Bias Against Oil and Gas - Newsweek was the previous entry in this blog.

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