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Oilfield Service Market Size, Share, Analysis and Forecast 2027

 The global oilfield services market size was USD 267.82 billion in 2019 and is projected to reach USD 346.45 billion by 2027, exhibiting a CAGR of 6.6% during the forecast period.

Get More Info: https://www.fortunebusinessinsights.com/industry-reports/oilfield-service-market-100174 

The oil production from the offshore sector is projected to be the fastest-growing segment during the forecast period, owing to increasing investment in the subsea oil & gas industry and growing energy demand. For instance, as per data published by Statista in 2020, global demand for crude oil (including biofuels) in 2019 amounted to 100.1 million barrels per day and is projected to decrease to 91.7 million barrels per day in 2020. Growing investment in the offshore sector helps to boost market growth. For instance, As per the World Investment Report in 2019, the offshore greenfield investment increased to USD 93.3 billion from USD 61.5 billion in 2018. Hence, the growing investment scenario in the offshore sector is spurring the demand for OFS, in turn, aiding the market.

List of key Players:

  • Schlumberger (Texas, United States)
  • Halliburton (Texas, United States)
  • Baker Hughes (Texas, United States)
  • Weir Oil and Gas (Glasgow, United Kingdom)
  • Emerson (Missouri, United States)
  • National Oilwell Varco (Texas, United States)
  • Weatherford (Texas, United States)
  • AlMansoori Specialized Engineering (Abu Dhabi, UAE)
  • Saudi Aramco (Dhahran, Saudi Arabia)
  • Protiviti (California, United States)
  • Abu Dhabi Oilfield Services (Abu Dhabi, UAE)
  • YAS Oilfield Services (Texas, US)
  • Superior Oilfield Services LLC (Abu Dhabi, UAE)
  • National Arabian Petroleum Services Company (Dammam, Saudi Arabia)
  • Larsen & Toubro (Mumbai, India)
  • Oceaneering (Houston, Texas)
  • China Oilfield Services Ltd. (Beijing, China)
  • Petroleum Dynamics Oil and Gas (East Ahmadi, Kuwait)
  • Petroleum Services Co. Kuwait (Kuwait)

KEY INDUSTRY DEVELOPMENTS:

  • August 2020 – DOF Subsea has announced four new contracts with Petrobras, worth USD 110 million. The contract includes three vessels from the DOF fleet to be mobilized to perform flexible pipeline, risers, and subsea equipment inspection in the Campos, Santos, and Espírito Santos basins, and the Marlin field.   
  • August 2020 – Solstad Offshore ASA has received several contract extensions in Brazil with Equinor and Total. Equinor Brazil has extended the contracts for the Sea Brasil and Far Scotsman platform supply vessels (PSV) by one year until December 2021 and by six months until May 2022, respectively.

The market research report provides an elaborative analysis of the global market research, dynamics, and competitive landscape. Various key insights presented in the report are the latest technology, recent industry developments, mergers & acquisitions, the regulatory scenario in crucial countries, macro, and microeconomic factors, SWOT analysis, and key retail oilfield services market trends, competitive landscape, and company profiles of major players.

Segmentation:

By Type

  • Equipment Rental
  • Field Operation
  • Analytical Services

By Service

  • Geophysical
    • Seismic Equipment
    • Seismic Service
  • Drilling
    • Offshore Drilling
    • OCTG
    • Directional Drilling
    • Drilling Fluid
    • Well Casing
    • Well Cementing
    • Drill Bits
    • Drilling Rigs
    • Logging While Drilling
    • Measurement While Drilling
    • Managed Pressure Drilling
    • Waste Management
    • Others
  • Completion & Workover
    • Well Intervention
    • Completion Fluid
    • Hydraulic Fracturing
    • Sand Control
    • Mud Logging
    • Wireline Logging
    • Other
  • Production
    • Artificial Lift
    • Floating Production Vessel
    • Support Vessel
    • Well Testing
    • Subsea Equipment
    • Christmas Tree
    • Enhanced Oil Recovery
    • Digital Oil Field
    • Others
  • Processing & Separation
    • Water Treatment
    • Oil Treatment
    • Gas Treatment
    • Solids Management
    • Others

By Application

  • Onshore
  • Offshore
    • Shallow Water
    • Deepwater
    • Ultra-Deepwater

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