Report

Oilfield services Market: Development, Opportunities and Market Outlook (2016-26)

Technology is everywhere, entwined in almost every part of our lives. Therefore, it is right to say that it constantly redefines the way of our work and progression is substantial to it. Modernization in contemporary industries and society has generated ever-increasing needs of power, therefore, urging in the need for development in energy sectors, such as oil and gas. Growing energy requirement is met by increasing hydrocarbon productions, thereby pushing forward the need to implement newer and robust technologies in the oil and gas industry.

Oilfield service companies are those companies which specialize in providing oil well utilities to the operator companies. The services are related to oil and gas exploration and production. However, service providers do not typically produce hydrocarbon themselves. They are called in for niche applications or only for particular part of the complete exploration and production phase cycle.

Oilfield service companies are those companies which specialize in providing oil well utilities to the operator companies. The services are related to oil and gas exploration and production. However, service providers do not typically produce hydrocarbon themselves. They are called in for niche applications or only for particular part of the complete exploration and production phase cycle.

Growing number of players in petroleum and exploration market marks a substantial growth in Oilfield services market, which had an estimated worth of xx billion dollars in 2016, and is growing at a steady rate of XX% every year. Our extensive and in-depth analysis concludes that the market is booming and suggests that it will eventually reach an approximated net worth of xx billion dollars by 2026.

Technology and services overview:

Service provider companies are usually the leaders in technological advancements as the market is very competitive in nature. Therefore, there is a pre-requisite need of research and development of newer technologies so as to reduce the cost of a project and provide competitive pricing along with efficient services. The services provided can primarily be classified on the following basis.

  1. Technology and equipment
  2. Consulting and analysis

Some of the services offered by major service providers across the globe are:

  • Seismic analysis: Borehole seismic, surveying etc.
  • Drilling services: LWD, MWD, Contractual Drilling, Drilling equipment etc.
  • Characterization services: Petrophysics, Geophysics, Reservoir Characterization etc.
  • Subsea completion: Risers, Wellheads etc.
  • Wireline logging and perforation services.
  • Processing and separation facilities.
  • Fishing tools and operations services.
  • Software services and solutions.

The primary driver of the market is the concurrent oil price which significantly drives the costs of services and equipment. The market is also driven by advancements in production scenario like exploitation of unconventional resources (like shale), increasing requirements of utilization of EOR techniques etc. As the oil and gas market is very volatile in terms of economics, lower oil prices significantly reduce application of costlier technologies and in order to reduce the investments, there is a significant reduction in oilfield services undertaken by operators. Development of in-house technologies by operators also restricts the involvement of service providers. But reducing operational expenditures, developing cost effective and efficient technologies can increase the revenue generated by service providers and thus can become an opportunity for the market on a whole along with steady oil prices.

Comprehensive competitive analysis and profiles of major market players such as Schlumberger, Baker Hughes, Gyrodata, Halliburton, Superior Drilling Products, and Weatherford International etc. is also provided in this report.

Kindly fill the details below to get the Table of Contents

By Location

  • Onshore service
  • Offshore service

By Nature of Application:

  • Technology and equipment
  • Consulting and analysis

By Services and Equipment:

  • Seismic analysis
  • Drilling services
  • Characterization services
  • Subsea completion
  • Wireline logging and perforation services
  • Processing and separation facilities
  • Fishing tools and operations services
  • Software services and solutions

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Central & South America
  • Middle East & Africa
  • Market overview and forecasting covering Optimistic, Realistic and Pessimistic scenarios (2016-2026)
  • Analysis and study of various services provided by major players active in the Oilfield services market
  • Market segmentation based on Location, Nature of Application, Services and Equipment & Geography
  • Detailed coverage of technology and services involved
  • Technical comparative studies and case analysis
  • Competitive landscape with in depth analysis of the market players’ strategy
  • Infraline’s Techno Managerial edge covering SWOT, TOWS, Porter’s five forces and PESTLE analysis

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