Oilfield services includes different oil related activities such as exploration, drilling, completion, stimulation, production, and intervention among many others for fulfilling various purposes over the entire oil well exploration life cycle. The services are also helpful in well logging, perforation, zonal isolation, well stimulation, sand washing, & setting tubing plugs. These services help the operators explore and produce from oil & gas reservoirs.Discovery of new oil & gas fields along with increasing volume of crude oil production coupled with application of EOR technique in maturing oilfields are the key factors that is expected to drive the growth of the market. Liberalization of the Mexican oil & gas industry along with Liberalization of the Mexican oil & gas industry coupled with Shale revolution in the U.S & China are the factors that will boost the market across the globe. Furthermore, reduction in petroleum production from Asian countries such as Indonesia and Thailand are other factors that will foster the growth of the market. Reduction in drilling activities related to exploration along with falling crude oil prices are the key restraining factors that hampers the growth of the market. Recent oil & gas exploration in Arctic region along with increasing mergers & acquisitions coupled with re-fracking of mature oil & gas wells are the factors that is expected to offer abundant growth opportunities to this market.
The report segments the market on the basis of applications, service types and geography. On the basis of applications, the market is segmented on the basis of onshore and offshore. On the basis of service type, the market is segmented into coiled tubing services, well completion equipment & services, drilling & completion fluid services and drilling waste management services. On the basis of geography, the market is segmented into Asia-Pacific, North America, South America, Europe and Middle East Africa.
Key market players operating in this market are Schlumberger Limited, Halliburton Company, Baker Hughes Incorporate, National Oilwell Varco, Inc., Weatherford International Ltd., Nabors Industries Ltd., Superior Energy Services Inc., Trican Well Service Ltd. and Precision Drilling Corporation.KEY BENEFITS FOR STAKEHOLDERS:
OILFIELD SERVICES KEY MARKET SEGMENTS:
Key Company Profiles
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