HOME Top Market Reports Oilfield Services Market by Type (Coiled Tubing, Well Completion, Well Intervention, Pressure Pumping, OCTG, Drilling Waste Management, Drilling & Completion Fluids, and Wireline ), & by Region - Global trends & Forecast to 2020

Oilfield Services Market by Type (Coiled Tubing, Well Completion, Well Intervention, Pressure Pumping, OCTG, Drilling Waste Management, Drilling & Completion Fluids, and Wireline ), & by Region - Global trends & Forecast to 2020

By: marketsandmarkets.com
Publishing Date: September 2015
Report Code: EP 2487

 

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The global oil and gas production has increased over the last five years from 81.149 Million barrels per day in 2009 to 88.673 Million barrels per day in 2014. This has led to the supply for oil & gas exceeding its demand which has ultimately caused a decline in the prices of crude oil during the last six months of 2014. This reduction mainly impacted the upstream exploration and production (E&P) activities. Consequently, the oil and gas operators have reduced their capital expenditure outlook for 2015 citing concerns over low profit margins. However, the expected increase in production from petroleum rich nations such as Saudi Arabia, Russia, and the U.S. has resulted in higher demand for production based services.

Oilfield services are used for varied purposes over the entire well life cycle that includes exploration, drilling, completion, stimulation, production, and intervention among others. The oilfield services which are used for production activities such as well intervention services, wireline services, and coiled tubing services among others, are expected to grow at a higher CAGR when compared to the overall oilfield services market during the forecast period.

The market for oilfield services is projected to grow with a CAGR of 5.0% from 2015 to 2020. The crude oil prices are expected to increase progressively in the short term and are estimated to reach USD 80/ barrel by 2018. This rebound in oil price will be spurred by the delay in capacity addition as the oil & gas companies are currently shelving new projects to reduce their capital expenditure. With the increase in the price of crude oil, the investments for E&P activities will also increase which will lead to new projects in regions that are looking to overturn their production decline such as Europe and Asia-Pacific. This will in turn create further demand for the oilfield services in these regions.

Growing production activities both on onshore and offshore regions have encouraged the demand for oilfield services for oil & gas wells. Moreover, new discoveries in offshore regions of Africa and South America coupled with the increase in unconventional oil & gas production in North America has further increased the demand for oilfield services. Leading providers of oilfield services are focussing on both developed as well as developing countries due to the critical nature of the oilfield services which allow it to be used over the entire well life cycle.

In terms of significance, the market has been segmented on the basis of service type include coiled tubing services, completion equipment & services, well intervention services, pressure pumping services, OCTG, drilling waste management services, drilling & completion fluids services, and wireline services. The market segments by application include onshore and offshore applications. The regional market segmentation includes the market size and share of North America, South America, Asia-Pacific, Europe, Middle East and Africa.

The pressure pumping segment occupied the largest market share, by value, in 2014 owing to high usage of hydraulic fracturing in North Americaís shale gas activities. Among application, onshore is used more as offshore applications are expensive. The cost factor is highly crucial in deciding the feasibility of any oilfield service activity, especially during a low crude oil price environment. North America currently holds the largest market share in terms of value on the account of large production of oil & gas from the region, most notably from shale. In addition, deep-water projects in the U.S. Gulf of Mexico and new investment opportunities in the Mexican oil & gas industry are driving the growth of the oilfield services market.

This report has a comprehensive analysis of key companies and the recent developments in the industry related to the oilfield services market. The report has been studied with reference to the industrial trends through Porters Five Forces, market drivers, restraints, opportunities, and challenges have been presented in detail. Leading players of the market such as Schlumberger Limited (U.S.), Halliburton Company (U.S.), Baker Hughes Incorporated (U.S), Weatherford International (Ireland), National Oilwell Varco (U.S.), and Superior Energy Services (U.S.) have been profiled to provide the scenario of the competitiveness in the oilfield services market. Strategic expansions and planned mergers and acquisitions have helped companies enhance their product portfolio in different regions whereas agreements, contracts, joint ventures, and partnerships have been among the key policies adopted by the companies to increase their market share.

The market has been segmented into

On the basis of Service Type

  • Coiled Tubing Services
  • Well Completion Equipment & Services
  • Well Intervention Services
  • Pressure Pumping Services
  • Oil Country Tubular Goods (OCTG)
  • Drilling Waste Management Services
  • Drilling & Completion Fluids Services
  • Wireline Services

On the basis of Application

  • Onshore
  • Offshore

On the basis of Region

  • North America
  • South America
  • Asia-Pacific
  • Middle East
  • Europe
  • Africa

Available Customization

With the market data provided above, MarketsandMarkets offers customizations as per the companyís specific needs. The following customization options are available for the report:

  • Detailed analysis and profiling of additional market players (Up to 5)
  • Country-wise analysis can be extended by one country for every region

Table of Contents

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primaries
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown & Data Triangulation
    2.4 Research Assumptions & Limitations
           2.4.1 Assumptions
           2.4.2 Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Market Opportunities in the Oilfield Services Market
    4.2 Oilfield Service Market Ė Top Three Regions
    4.3 Oilfield Services Market
    4.4 North America: the Largest Oilfield Services Market in 2014
    4.5 Oilfield Services Market: By Service

5 Market Overview
    Key Findings
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Discovery of New Oil & Gas Fields
                    5.2.1.2 Increase in Crude Oil Production
                    5.2.1.3 Eor Technique Used in Mature Oilfields
                    5.2.1.4 Liberalization of the Mexican Oil & Gas Industry
                    5.2.1.5 Chinese Shale Ventures
                    5.2.1.6 Shale Revolution in the U.S.
           5.2.2 Restraints
                    5.2.2.1 Reduction in Exploratory Drilling
                    5.2.2.2 Falling Crude Oil Prices
           5.2.3 Opportunities
                    5.2.3.1 Arctic Exploration
                    5.2.3.2 Lookout for Mergers & Acquisitions
                    5.2.3.3 Re-Fracking of Mature Oil & Gas Wells
           5.2.4 Challenges
                    5.2.4.1 Pricing Pressure
                    5.2.4.2 High Environmental Risks
    5.3 Impact of Market Dynamics
    5.4 Impact of Oil Prices Decline
    5.5 Value Chain Analysis
    5.6 Porterís Five Forces Analysis
           5.6.1 Threat of New Entrants
           5.6.2 Threat of Substitutes
           5.6.3 Bargaining Power of Suppliers
           5.6.4 Bargaining Power of Buyers
           5.6.5 Intensity of Competitive Rivalry

6 Oilfield Services Market, By Application
    6.1 Introduction
    6.2 By Application
           6.2.1 Onshore
           6.2.2 Offshore
    6.3 By Services
           6.3.1 Well Intervention
                    6.3.1.1 Onshore Well Intervention, By Region
                    6.3.1.2 Offshore Well Intervention, By Region
           6.3.2 Well Completion
                    6.3.2.1 Onshore Well Completion Service, By Region
                    6.3.2.2 Offshore Well Completion, By Region

7 Oilfield Services Market, By Service Type
    7.1 Introduction
    7.2 By Type
    7.3 Pressure Pumping Services
           7.3.1 By Region
                    7.3.1.1 North America
                    7.3.1.2 Asia-Pacific
                    7.3.1.3 South & Central America
                    7.3.1.4 Europe
                    7.3.1.5 Middle-East
                    7.3.1.6 Africa
    7.4 Oil Country Tubular Goods
           7.4.1 By Region
                    7.4.1.1 Asia-Pacific
                    7.4.1.2 North America
                    7.4.1.3 South America
                    7.4.1.4 Europe
                    7.4.1.5 Middle East
                    7.4.1.6 Africa
    7.5 Wireline Services
           7.5.1 By Region
                    7.5.1.1 North America
                    7.5.1.2 Asia-Pacific
                    7.5.1.3 Europe
                    7.5.1.4 Middle East
                    7.5.1.5 Africa
                    7.5.1.6 South America
    7.6 Well Completion Equipment & Services
           7.6.1 By Region
                    7.6.1.1 North America
                    7.6.1.2 South America
                    7.6.1.3 Asia-Pacific
                    7.6.1.4 Europe
                    7.6.1.5 Africa
                    7.6.1.6 Middle East
    7.7 Well Intervention Services
           7.7.1 By Region
                    7.7.1.1 North America
                    7.7.1.2 South & Central America
                    7.7.1.3 Asia-Pacific
                    7.7.1.4 Europe
                    7.7.1.5 Africa
                    7.7.1.6 Middle East
    7.8 Drilling & Completion Fluid Services
           7.8.1 By Region
                    7.8.1.1 North America
                    7.8.1.2 Asia-Pacific
                    7.8.1.3 Europe
                    7.8.1.4 South & Central America
                    7.8.1.5 Africa
                    7.8.1.6 Middle East
    7.9 Drilling Waste Management Services
           7.9.1 By Region
                    7.9.1.1 North America
                    7.9.1.2 Europe
                    7.9.1.3 Asia-Pacific
                    7.9.1.4 South America
                    7.9.1.5 Africa
                    7.9.1.6 Middle East
     7.10 Coiled Tubing Services
           7.10.1 By Region
                    7.10.1.1 North America
                    7.10.1.2 Europe
                    7.10.1.3 Asia-Pacific
                    7.10.1.4 Middle East
                    7.10.1.5 South America
                    7.10.1.6 Africa

8 Oilfield Services Market, By Region
    8.1 Introduction
    8.2 Regional Market Analysis
           8.2.1 North America
           8.2.2 Asia-Pacific
           8.2.3 Europe
           8.2.4 South America
           8.2.5 Middle East
           8.2.6 Africa

9 Competitive Landscape
    9.1 Overview
    9.2 Market Share Analysis, By Key Players
    9.3 Competitive Situation & Trends
    9.4 Joint Ventures
    9.5 New Product/Technology/Service Developments
    9.6 Expansions
    9.7 Mergers & Acquisitions
    9.8 Contracts & Agreements

10 Company Profile
     10.1 Introduction
     10.2 Schlumberger Limited
             10.2.1 Business Overview
             10.2.2 Products & Services Offered
             10.2.3 Recent Developments, 2012-2015
             10.2.4 SWOT Analysis
             10.2.5 MnM View
     10.3 Halliburton Company
             10.3.1 Business Overview
             10.3.2 Products & Services Offered
             10.3.3 Recent Developments, 2012-2015
             10.3.4 SWOT Analysis
             10.3.5 MnM View
     10.4 Baker Hughes Incorporated
             10.4.1 Business Overview
             10.4.2 Products & Services Offered
             10.4.3 Recent Developments, 2012-2014
             10.4.4 SWOT Analysis
             10.4.5 MnM View
     10.5 National Oilwell Varco, Inc.
             10.5.1 Business Overview
             10.5.2 Products & Services Offered
             10.5.3 Recent Developments, 2012-2015
             10.5.4 SWOT Analysis
     10.6 Weatherford International Ltd.
             10.6.1 Business Overview
             10.6.2 Products & Services Offered
             10.6.3 Recent Developments, 2012-2014
             10.6.4 SWOT Analysis
             10.6.5 MnM View
     10.7 Nabors Industries Ltd.
             10.7.1 Business Overview
             10.7.2 Products & Services Offered
             10.7.3 Recent Developments, 2013-2015
     10.8 Superior Energy Services Inc.
             10.8.1 Business Overview
             10.8.2 Products & Services Offered
             10.8.3 Recent Developments, 2012-2014
             10.8.4 SWOT Analysis
             10.8.5 MnM View
     10.9 Trican Well Service Ltd.
             10.9.1 Business Overview
             10.9.2 Products & Services Offered
             10.9.3 Recent Developments, 2012-2013
     10.10 Precision Drilling Corporation
             10.10.1 Products & Services Offered
             10.10.2 Recent Developments, 2014
     10.11 Calfrac Well Services Ltd.
             10.11.1 Products & Services Offered
             10.11.2 Recent Developments, 2013
     10.12 Archer Limited
             10.12.1 Business Overview
             10.12.2 Products & Services Offered
             10.12.3 Recent Developments, 2012-2015
     10.13 Basic Energy Services Inc.
             10.13.1 Business Overview
             10.13.2 Products & Services Offered
             10.13.3 Recent Developments, 2012-2014
     10.14 Key Energy Services
             10.14.1 Business Overview
             10.14.2 Products & Services Offered
             10.14.3 Recent Developments, 2012-2014
     10.15 Expro International Group
             10.15.1 Business Overview
             10.15.2 Products & Services
             10.15.3 Recent Developments, 2012-2015
     10.16 Pioneer Energy Services
             10.16.1 Business Overview
             10.16.2 Products & Services
             10.16.3 Recent Developments, 2012-2014

11 Appendix
     11.1 Insights of Industry Experts
     11.2 Discussion Guide
     11.3 Introducing RT: Real Time Market Intelligence
     11.4 Available Customizations
     11.5 Related Reports


List of Tables (88 Tables)

Table 1 Wells Drilled in Africa, 2012-2014
Table 2 New Oil & Gas Field Discoveries,By Region, 2013
Table 3 Global Oil Production, 2011-2014, (Thousand Barrels Per Day)
Table 4 Top Countries With Technically Recoverable Shale Reserves in 2014
Table 5 Impact of Market Dynamics
Table 6 Oilfield Services Market Size, By Application, 2013-2020 (USD Million)
Table 7 Onshore Oilfield Services Market Size, By Region, 2013-2020 (USD Million)
Table 8 Offshore Oilfield Services Market Size, By Region, 2013-2020 (USD Million)
Table 9 Well Intervention Market Size, By Application, 2013-2020 (USD Million)
Table 10 Onshore Well Intervention Market Size, By Region, 2013-2020 (USD Million)
Table 11 Offshore Well Intervention Market Size, By Region, 2013-2020 (USD Million)
Table 12 Well Completion Services Market Size, By Application, 2013-2020 (USD Million)
Table 13 Onshore Well Completion Services Market Size, By Region, 2013-2020 (USDmillion)
Table 14 Offshore Well Completion Market Size, By Region, 2013-2020 (USDmillion)
Table 15 Oilfield Services Market Size, By Type, 2013-2020 (USD Million)
Table 16 Pressure Pumping Market Size, By Region, 2013-2020 (USD Million)
Table 17 North America: Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 18 Asia-Pacific: Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 19 South & Central America: Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 20 Europe: Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 21 Middle East: Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 22 Africa: Onshore Pressure Pumping Services Market Size, By Country, 2013-2020 (USD Million)
Table 23 Oil Country Tubular Goods Market Size, By Region, 2013-2020 (USD Million)
Table 24 Asia-Pacific: Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 25 North America: Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 26 South America: Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 27 Europe: Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 28 Middle East Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 29 Africa: Oil Country Tubular Goods Services Market Size, By Country, 2013-2020 (USD Million)
Table 30 Wireline Services Market Size, By Region, 2013-2020 (USD Million)
Table 31 North America: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 32 Asia-Pacific: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 33 Europe: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 34 Middle East: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 35 Africa: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 36 South America: Wireline Services Market Size, By Country, 2013-2020 (USD Million)
Table 37 Well Completion Equipment & Services Market Size, By Region, 2013-2020 (USD Million)
Table 38 North America: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 39 North America: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 40 South America: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 41 South America: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 42 Asia-Pacific: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 43 Asia-Pacific: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 44 Europe: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 45 Europe: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 46 Africa: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 47 Africa: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 48 Middle East: Onshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 49 Middle East: Offshore Well Completion Equipment & Services Market Size, By Country, 2013-2020 (USD Million)
Table 50 Well Intervention Market Size, By Region, 2013-2020 ( USD Million)
Table 51 North America: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 52 South & Central America: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 53 Asia-Pacific: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 54 Europe: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 55 Africa: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 56 Middle East: Onshore Well Intervention Services Market Size, By Country, 2013-2020 (USD Million)
Table 57 Drilling & Completion Fluid Services Market Size, By Region, 2013-2020 (USD Million)
Table 58 North America: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 59 Asia-Pacific: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 60 Europe: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 61 South & Central America: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 62 Africa: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 63 Middle-East: Drilling & Completion Fluid Services Market Size, By Country, 2013-2020 (USD Million)
Table 64 Drilling Waste Management Services Market Size, By Region, 2013-2020 (USD Million)
Table 65 North America: Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 66 Europe: Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 67 Asia-Pacific: Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 68 South America: Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 69 Africa: Onshore Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 70 Middle East: Drilling Waste Management Services Market Size, By Country, 2013-2020 (USD Million)
Table 71 Coiled Tubing Market Size, By Region, 2013-2020 (USD Million)
Table 72 North America: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 73 Europe: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 74 Asia-Pacific: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 75 Middle East: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 76 South America: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 77 Africa: Coiled Tubing Services Market Size, By Country, 2013-2020 (USD Million)
Table 78 Oilfield Services Market Size, By Region, 2013-2020 (USD Million)
Table 79 North America: Oilfield Services Market Size, By Service, 2013-2020 (USD Million)
Table 80 Asia-Pacific: Oilfield Services Market Size, By Service, 2013-2020 (USD Million)
Table 81 Europe: Oilfield Services Market Size, By Service, 2013-2020 (USD Million)
Table 82 South America: Oilfield Services Market Size, By Service, 2013-2020 (USD  Million)
Table 83 Middle East: Oilfield Services Market Size, By Service, 2013-2020 (USD Million)
Table 84 Africa: Oilfield Services Market Size, By Service, 2013-2020 (USD Million)
Table 85 Joint Ventures/Partnerships/Alliances, 2012-2015
Table 86 New Product/Technology Launches, 2012-2015
Table 87 Expansions, 2012-2015
Table 88 Mergers & Acquisitions, 2012-2015
Table 89 Contracts & Agreements, 2011-2015


List of Figures (48 Figures)

Figure 1 Research Design: Oilfield Services Market
Figure 2 Bottom Up Approach
Figure 3 Top Down Approach
Figure 4 Assumptions of the Research Study
Figure 5 Limitations of the Research Study
Figure 6 Wireline Services Occupied the Largest Market Share (Value) in North America in 2014
Figure 7 North America & Asia-Pacific are Expected to Dominate the Pressure Pumping Services Market During the Forecast Period
Figure 8 Oilfield Services Market Size, 2015-2020 (USD Million)
Figure 9 Increase in Oil & Gas Production in North America and Opec Nations to Create Growth Opportunities for the Oilfield Services Market
Figure 10 North America is Expected to Account for A Major Share (By Value) of the Oilfield Services Market During the Forecast Period
Figure 11 Pressure Pumping Services Held A Major Share (By Value) in the Oilfield Services Market in 2014
Figure 12 North America Commanded Nearly Half of the Oilfield Service Market in 2014
Figure 13 Pressure Pumping Services is Estimated to Occupy the Largest Market Share (Value) By 2020
Figure 14 Oilfield Service Market Dynamics
Figure 15 Global Oil & Gas Rig Count, 2014-2015
Figure 16 Brent Crude Oil Prices, 2014-2015 (USD Per Barrel)
Figure 17 Oilfield Services Market: Supply Chain Analysis
Figure 18 Porterís Five Forces Analysis : Oilfield Services Market
Figure 19 Onshore Application is Expected to Dominate the Oilfield Services Market During the Forecast Period
Figure 20 Oilfield Services Market Share (Value), By Type, 2014
Figure 21 Oilfield Services Market Size, By Region, 2013-2020 (USD Million)
Figure 22 Regional Snapshot of Wireline Services (2014) Ė Rapid Growth Markets are Emerging as New Hot Spots
Figure 23 Companies Adopted Mergers & Acquisitions and New Product/Technology/Service Developments as Key Growth Strategies in the Past Four Years
Figure 24 Schlumberger Limited Held the Largest Share in the Oilfield Services Market in 2014
Figure 25 Market Evaluation Framework: Oilfield Services Market
Figure 26 Battle for Market Share: New Product/Technology/Service Development Was the Key Strategy in 2014
Figure 27 Regional Revenue Mix of the Top 5 Market Players
Figure 28 Schlumberger Limited: Company Snapshot
Figure 29 Schlumberger: SWOT Analysis
Figure 30 Halliburton Company: Company Snapshot
Figure 31 Halliburton Company: SWOT Analysis
Figure 32 Baker Hughes Incorporated: Company Snapshot
Figure 33 Baker Hughes Incorporated: SWOT Analysis
Figure 34 National Oilwell Varco, Inc.: Company Snapshot
Figure 35 National Oilwell Varco: SWOT Analysis
Figure 36 Weatherford International Ltd.: Company Snapshot
Figure 37 Weatherford International Ltd.: SWOT Analysis
Figure 38 Nabors Industries Ltd.: Company Snapshot
Figure 39 Superior Energy Services Inc.: Company Snapshot
Figure 40 Superior Energy Services: SWOT Analysis
Figure 41 Trican Well Service Ltd.: Company Snapshot
Figure 42 Precision Drilling Corporation: Company Snapshot
Figure 43 Calfrac Well Services Ltd.: Company Snapshot
Figure 44 Archer Ltd.: Company Snapshot
Figure 45 Basic Energy Services Inc.: Company Snapshot
Figure 46 Key Energy Services Inc.: Company Snapshot
Figure 47 Expro International Group Holdings Ltd.: Company Snapshot
Figure 48 Pioneer Energy Services.: Company Snapshot

Oilfield services refer to the services that aid the oil & gas operators in E&P activities. The oilfield services typically cater to the entire well lifecycle starting from the exploratory phase up to the plugging & abandonment phase.

The recent downturn in the crude oil prices has resulted in the decline of the exploration & production (E&P) activities all over the world. The spot price of the Brent crude plunged from USD 111.8/barrel in June 2014 to USD 62.3/barrel in December 2014. This dramatic decline is being largely attributed to the over production of petroleum which has increased the oil & gas supply as compared to its demand. The largest oil and gas producing countries included Saudi Arabia, Russia, and the U.S. The low price environment has reduced the operating profits for the oil & gas companies, which has resulted in the reduction in the capital expenditure for activities due in 2015. Moreover, the oil prices are expected to decline further as economic sanctions on Iran are expected to be lifted soon; the U.S. and the European Union imposed economic sanctions on Iran in response to its aggressive nuclear program. As and when the sanctions are lifted, the country is expected to return to its pre-sanction production levels of over 3 mbpd.

The low crude oil prices have created a demand for optimizing production from existing oilfields and to operate at an economical rate. In June 2015, the OPEC member countries decided to leave their collective production targets unchanged at 30 million barrels per day. With continued increase in the oil and gas production in the near future, the market for oilfield services is expected to grow at a CAGR of 5.0% from 2015 to 2020 reaching to $144.36 Billion by 2020.

Oilfield services market report has been segmented on the basis of the services offered which include coiled tubing services, completion equipment & services, well intervention services, pressure pumping services, OCTG, drilling waste management services, drilling & completion fluids services, and wireline services. The use of oilfield service such as well intervention services aid in undertaking remediation operations (well cleanup) which can revive the declining oil & gas production. Other services such as pressure pumping services are used for well stimulation and for completing a well. Moreover, wireline services are used for perforating applications, deployment optimization of downhole tools, and casing setting among others.

Oilfield services are also segmented on the basis of applications which include onshore applications and offshore applications. Onshore applications involve the use of oilfield services on land based oil & gas wells whereas offshore applications involve the use of oilfield services on oil & gas wells located under a water body which could be a lake, river, sea, or an ocean.

With the environment optimum for mergers & acquisitions, major oilfield services providers such as Baker Hughes and Schlumberger have embarked on acquiring competitors or undertaking backward integration.

Oilfield Services Market

Onshore oilfield services find more usage as compared to offshore oilfield service due to large number of oil & gas fields present onshore. Moreover, more E&P activities occur in onshore region due to the ease of setting up oil rigs and lower cost incurred in doing so. Although the offshore applications of oilfield services is expected to grow at a higher growth rate during the forecast period yet the dominance of onshore applications is likely to continue.

Available Customizations Title

Client Consult Problem Statement : MnMís client was interested to know investment in various IT solutions and services from oil and gas sector in Middle-East and Africa. The client has special focus on Saudi Arabia, UAE, Qatar, Oman, Kuwait in Middle-East and Nigeria, Algeria, Angola and South Africa in Africa region.

Solution Provided:

1. Methodology Adopted by MnM:

MnM carried out this study through a combination....

1. Methodology Adopted by MnM:

MnM carried out this study through a combination of extensive secondary research followed by primary discussions with Key Opinion Leaders across the value chain within target geographies. Both, top-down and bottom-up approaches were used to cover key sources of primary information that included IT solution and service providers, IT vendors & hardware manufacturers from supply side and NOCís and EnP operators from the demand side. In total, MnM conducted 50 primary discussions, of which 20 were from the supplier side and 30 were from demand side and other industry experts.

2. Actual Solution Provided:

MnM carried out extensive primary and secondary research for IT developments in the oil and gas sector and estimated market revenue for current and future digital oil fields in the Africa and Middle-East region. MnM also provided a detailed asset analysis for the industry leaders to help the client identify prospect IT solutions. MnM also tracked extensive list of upcoming green field and brown field projects of major EnP operators and National Oil Companies for the specified geographies.

Value Delivered:

MnMís client was able to identify & select attractive IT solutions to be implemented asset and organizational level of prospective NOCís and formulate its market development strategy. The study also assisted client in assessing the competitive landscape at deep dive level across the NOCís.

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