Middle East Oilfield Services Market

Middle East Oilfield Services Market

  • July 2017
  • 106 pages
  • Report ID: 5023920
Middle East’s oil field services market is estimated to increase from USD XX billion in 2016 to USD XX billion by 2022. Although falling crude oil prices are forecasting a gloomy picture for OFS, service companies are expected to ride out the storm with long term contracts and mergers.

Oil & gas exploration and production is a complicated process, and each and every step requires sophisticated technology and equipment. Until the 90s, OFS firms were smaller and did straightforward tasks such as drilling vertical wells. But, over past two decades, big oil & gas companies decided to outsource much of the exploration and production work which allowed the OFS firms to grow. OFS companies, in turn, drove the innovation in oil & gas sector by pioneering technologies like directional drilling and hydraulic fracturing.

The research published on OFS covers a variety of services such as well intervention, wireline logging, coiled tubing, completion, drilling, pressure pumping, waste management and oil country tubular goods.

Drivers

Increasing demand for energy and petrochemicals and growing investments in oil & gas sector are some of the factors driving the OFS market.

An estimated 800 billion barrels of oil reserves are present in the Middle East which makes it an attractive proposition for oil field services firms.

Challenges

Volatile oil & gas prices, environmental concerns, operational challenges and geo political situation in some regions are severely impairing the OFS market.

This report comprehensively analyzes the Middle East Oil Field Services market by segmenting it based on geography, applications (onshore and offshore) and services (well intervention, wireline logging, coiled tubing, completion, drilling, pressure pumping, waste management and oil country tubular goods); estimates are provided for next five years until 2022. Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on the competitive landscape and key market players.
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Country=Iran Industry=OilAndGas ParentIndustry=Energy Date=201707 Topic=MarketReport Publisher=MordorIntelligenceLLP Price=4000