From underground mapping to waste heat recovery, we look at startups helping oil & gas producers boost efficiency and sustainability.
The oil and gas industry is witnessing a historic surge, with upstream capital expenditures soaring by 39% in 2022 to reach $499B — the highest annual level seen since 2014.
This financial upswing is prompting oil and gas producers to seek tech solutions from startups to enhance operational efficiency. Oilfield asset management solutions, for instance, can make the oilfield more productive and profitable.
O&G producers are also focused on the pressing issue of sustainability. Technologies like flaring reduction and carbon capture are helping them reduce and capture stray emissions, as well as turn emissions into new revenue streams.
In the market map below, we spotlight 50 vendors across 9 tech categories, from monitoring sites with industrial satellites to producing more sustainable fuels for industries like aviation.
Note: Our map includes early-stage private companies that have received funding in the last 5 years. This market map is not exhaustive of the space.
Please click to enlarge.
Want to see more research? Join a demo of the CB Insights platform.
If you’re already a customer, log in here.
