Oil & Gas Upstream Market 2026| Saudi Aramco, Gazprom, ExxonMobil, Rosneft, PetroChina, BP, Sinopec, Royal Dutch Shell, Total S.A, Chevron

Recent research and the current scenario as well as future market potential of "Global Oil & Gas Upstream Market - 2019-2026".

The Global Oil & Gas Upstream Market is expected to grow at a CAGR of 3.1% during the forecast period (2019-2026).

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The upstream oil and gas market is also called Exploration and Production (E&P) sector. Up-stream oil & gas market encompasses activities related to searching for, recovering and producing crude oil and natural gas. The upstream market consists of public as well as pri-vate companies. Companies who operate only in the upstream segment are called 'Inde-pendents.' Companies which work in all three segments are called integrated oil companies (IOCs). Upstream Industry is heavily dependent on oilfield services.

Although demand for oil & gas is increasing steadily, Global oil reserves have not increased in recent years.

Market Dynamics-

Declining investments in Oil and gas explorations will further effect the growth in the mar-ket over the forecast period to 2025. Increasing environmental concerns will impact the in-dustry in the long term. After 2016 Paris agreement, World Bank announced it would no longer finance upstream oil & gas after 2019. The upstream market is highly regulated and impacted by global politics.

Neither Nuclear nor solar or wind has made oil & gas unnecessary. So only oil & gas price fluctuations in the global market are what matters.

Global Upstream Oil Industry Expenditures, 2013 to 2017, (in USD billion)
2013 725
2014 755
2015 580
2016 470
2017 503

Market Segmentation

Global Upstream oil & gas market can be segmented by Resource type, by production site and by drilling technology.

By resource type, the market can be segmented into crude oil & natural gas. Although crude oil reserve often contains some natural gas in it. There are reserves for natural gas also.

Based on the production site, the market can be segmented into onshore & offshore. On-shore upstream oil market segment is accounted for the largest share globally, due to in-creased investments in the onshore oil explorations.

Global Distribution of onshore and offshore crude oil production sites 2005 to 2015 (in units)
Year Onshore Offshore
2005 68 32
2010 69 31
2015 71 29

Based on drilling technology, upstream oil & gas market can be segmented into Conven-tional & Unconventional drilling. Conventional technology includes traditional vertical drill-ing technology. Although it is cheaper than non- conventional, it has limitations. Unconven-tional drilling technology comprises horizontal drilling, multilateral drilling, extended reach drilling and complex path drilling.

Unconventional drilling technologies are becoming less expensive over time. Horizontal drilling has gained popularity due to shale oil production. A horizontal well is generally more expensive to drill than a vertical well, but it produces more crude oil and natural gas. In 2016, hydraulically fractured horizontal wells accounted for 69% of all oil and natural gas wells drilled in the United States. Horizontal drilling is used for drilling in harsher conditions.

Geographical Segmentation-

Based on region, the market can be segmented into the Middle East, North America, Europe & CIS, Africa, Asia-Pacific and Central and South America.
North America is the leading region in the upstream oil and gas market is mainly due to higher capital expenditures in North America and investment in shale oil production using unconventional drilling technologies. Middle East and African Oil & gas upstream market is declined mainly due to the price drop in oil products globally.

Competitive Landscape-

A good number of prominent companies are government owned. Major players in the up-stream oil & gas market are Saudi Aramco, Gazprom, ExxonMobil, Rosneft, PetroChina, BP, Sinopec, Royal Dutch Shell, Total S.A, and Chevron.

Some of the Independent energy & power companies, are Carrizo Oil & Gas Inc, Laredo Pe-troleum, Newfield Exploration, Matador Resources, and Devon Energy.
In the extended downturn from 2014 to 2017, upstream companies have reduced costs. If unconventional drilling technologies get cheaper, the influence of Gulf countries on oil pro-duction might diminish in the coming years.

Key market segments covered

By Resource-
Crude Oil
Natural Gas
Others (oil sands, shale oil, etc.)

By production site
Onshore
Offshore

By Drilling Technology
Conventional
o Vertical Drilling
Unconventional
o Horizontal Drilling
o Others

By Region
Middle East and Africa
Asia Pacific
Europe
North America
South America

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Scope of the report-

The report covers the key factors impacting the market, Porter 5 Forces, Product Bench-marking, and company profiles. Oil and Gas Upstream Market is segmented By Product (Crude Oil, Natural Gas), others (oil sands, shale oil, etc.)), by production site (Onshore, Off-shore), By Drilling Technology (Conventional (Vertical Drilling), Unconventional (Horizontal Drilling, Others). Based on geography the market is segmented into Middle East and Africa, North America, South America, Europe, Asia Pacific.

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Excel data sheet with thousands of data points of the Oil and Gas Upstream Market level 4/5 segmentation
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Product mapping in excel for the critical Global Oil and Gas Upstream Market prod-ucts of all major market players

Target Audience
Government Agencies
Product Suppliers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers

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