Global Upstream Services Market Industry Demand and Business Prospect |Global Top Leader: Schlumberger Limited, Halliburton, Baker Hughes Incorporated | Industry Trends Forecast To 2027

Market Highlights:-
The oil & gas industry operates in three main sectors, namely, upstream, midstream, and downstream. The upstream sector, which is majorly associated with the exploration and production of oil and natural gas, utilises numerous services across different operations, spanning from searching for oil and gas to drilling wells, and operating them. The process, in itself, is very bulky and requires heavy machinery and specialised services for the complete process. As per the study conducted by Market Research Future, the global market for upstream services is likely to grow at the CAGR of around 4%.

Industry Top Key Players:-
• Schlumberger Limited
• Halliburton
• Baker Hughes Incorporated
• Petrofac Limited
• Weatherford
• TECHNIP
• China Oilfield Services Limited
• Transocean Ltd.
• Flour Corporation

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Industry News:-
In June, 2017 – Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (First E&P) and Schlumberger signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria.
In March, 2017 – Houston-based Halliburton Co. (NYSE: HAL) plans to have hired more than 2,000 U.S. oil field workers by the end of the first quarter. The hiring is in support of a sharp increase in demand for oil field services as the upstream sector builds momentum on what many assume is the end of the persistent oil downturn.

Upstream Services Global Market – Segmentation:-
The scope of global upstream services market is segmented into two major segments which are explained below:
• By Type
o Pressure Pumping
o Tubular Goods
o Waste Management
o Coiled Tubing
o Completion
o Intervention
o Well Fluids
o Wireline
o Others
• By Well Type
o Onshore
o Offshore

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Upstream Services Global Market - Competitive Analysis:-
The global market for upstream services is one of the most technological advance market. To maintain the market position and to drive the market growth, all the major players continuously strive for technological development in their upstream services systems. Market leaders are rigorously involved in R&D activities, so as to develop feasible product, which fulfils all the client requirement over their upstream operations.

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This release was published on openPR.