Press release
Oilfield Services Market to Reach USD 346.45 Billion by 2027; Schlumberger, Halliburton, Baker Hughes, Weir Oil and Gas, Emerson, National Oilwell Varco, Weatherford, AlMansoori Specialized Engineering, Saudi Aramco, Protiviti, Abu Dhabi Oilfield Services
The coronavirus disaster has financially drained various industries and sectors around the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
𝐓𝐨 𝐠𝐞𝐭 𝐭𝐨 𝐤𝐧𝐨𝐰 𝐦𝐨𝐫𝐞 𝐚𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐬𝐡𝐨𝐫𝐭-𝐭𝐞𝐫𝐦 𝐚𝐧𝐝 𝐥𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐢𝐦𝐩𝐚𝐜𝐭𝐬 𝐨𝐟 𝐂𝐎𝐕𝐈𝐃-𝟏𝟗 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐩𝐥𝐞𝐚𝐬𝐞 𝐯𝐢𝐬𝐢𝐭: https://www.fortunebusinessinsights.com/industry-reports/oilfield-service-market-100174
𝐓𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐨𝐧 𝐭𝐡𝐞 𝐨𝐢𝐥𝐟𝐢𝐞𝐥𝐝 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐦𝐚𝐫𝐤𝐞𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞𝐬:
Well-analyzed prime information
Key insights into the market
Dominant regions in the world
Foremost market drivers and restraints
Competitive landscape
COVID-19 impact
𝐌𝐚𝐫𝐤𝐞𝐭 𝐃𝐫𝐢𝐯𝐞𝐫:
𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐒𝐡𝐚𝐥𝐞 𝐆𝐚𝐬 𝐭𝐨 𝐏𝐫𝐨𝐩𝐞𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
The increasing demand for shale gas has led to the advancement in technologies such as directional drilling and hydraulic fracturing technology to improve the production process in reservoirs. The high requirement for oilfield services during extraction can spur opportunities for the market. The ongoing plans and strategies to enhance the production of shale gas will simultaneously enrich the business of the market during the forecast period. For instance, China has announced that it will escalate its production up to 30 bcm/per year by 2020, and 80-100 bcm/per year by 2030 through advanced technologies and drilling techniques. China accounts for a high percent of shale gas production, which originally comes from the Sichuan Basin located in the Chongqing area. Moreover, the increasing exploration activities for untapped resources will enable healthy growth of the market in the forthcoming years.
𝐆𝐞𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐁𝐫𝐨𝐜𝐡𝐮𝐫𝐞: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/oilfield-service-market-100174
𝐇𝐚𝐥𝐭 𝐨𝐧 𝐄𝐱𝐩𝐥𝐨𝐫𝐚𝐭𝐢𝐨𝐧 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐚𝐧𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐭𝐨 𝐃𝐰𝐢𝐧𝐝𝐥𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
The substantial impact on the oil & gas industry is due to the disruption caused by coronavirus, which affected the operation and supply chain of the industry. Numerous companies have terminated exploration projects and services owing to the lockdown to curb the spread of the virus. For instance, the International Energy Agency reported that oil demand is likely to decrease by 29 million barrels per day (BPD) in April 2020 and by 23.1 million bpd in the 2nd quarter. Moreover, the production cuts, obstructed investments, and economic downfall can result in heavy loss for the global market during COVID-19. However, improving the situation and growing oil demand will simultaneously help in the recovery, in turn, aiding the market.
𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:
𝐎𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐎𝐢𝐥 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬 𝐭𝐨 𝐈𝐧𝐟𝐥𝐮𝐞𝐧𝐜𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚
The market in North America is expected to account for the largest share in the global market owing to the offshore assets in the Gulf of Mexico and the North Sea. The ongoing oil extraction activities will enable the healthy growth of the market in North America. Moreover, the increasing partnerships and acquisitions by major players will further aid development in the region. For instance, in January 2017, Schlumberger limited announced that it has acquired the Peak Well System, which is a specialist in the design and development of advanced downhole tools for flow control, well intervention, and well integrity. Europe is expected to account for a significant share during the forecast period. The reduced cost of offshore drilling activities will favor growth in the region. For instance, in Norway, the operating cost of an oil well has been reduced by 30% from 2014 to 2017, thus the cost incurred for drilling an exploratory well offshore was half in 2017 compared to 2014.
𝐒𝐩𝐞𝐚𝐤 𝐭𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/oilfield-service-market-100174
𝐊𝐞𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭:
June 2020: Norwegian oil and gas company Equinor awarded two contracts worth up to USD 187,1 million to oilfield services provider Technip. Under the contract, TechnipFMC will provide pipelaying and subsea installation for three projects on the Norwegian continental shelf (NCS).
𝐐𝐮𝐢𝐜𝐤 𝐁𝐮𝐲 – 𝐎𝐢𝐥𝐟𝐢𝐞𝐥𝐝 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.fortunebusinessinsights.com/checkout-page/100174
𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐓𝐚𝐛𝐥𝐞 𝐨𝐟 𝐂𝐨𝐧𝐭𝐞𝐧𝐭:
Introduction
Research Scope
Market Segmentation
Research Methodology
Definitions and Assumptions
Executive Summary
Market Dynamics
Market Drivers
Market Restraints
Market Opportunities
Key Insights
Key Emerging Trends – For Major Countries
Latest Technological Advancement
Regulatory Landscape
Industry SWOT Analysis
Porters Five Forces Analysis
Qualitative Analysis – Impact of COVID-19
Impact of COVID-19 on the Oilfield Services Market
Steps Taken by the Government to Overcome the Impact
Key Developments by Industry Players in Response to COVID-19
Potential Opportunities and Challenges due to COVID-19 Outbreak
Global Oilfield Services Market Analysis (USD Billion), Insights and Forecast, 2016-2027
Key Findings / Summary
Market Analysis, Insights and Forecast – By Type
Equipment Rental
Field Operation
Analytical Services
Market Analysis, Insights and Forecast – By Service
Geophysical
Seismic Equipment
Seismic Service
Drilling
Offshore Drilling
OCTG
Directional Drilling
Drilling Fluid
Well Casing
Well Cementing
Drill Bits
Drilling Rigs
Logging While Drilling
Measurement While Drilling
Managed Pressure Drilling
Waste Management
Others
Completion & Workover
Well Intervention
Completion Fluid
Hydraulic Fracturing
Sand Control
Mud Logging
Wireline Logging
Others
Production
Artificial Lift
Floating Production Vessel
Support Vessel
Well Testing
Subsea Equipment
Christmas Tree
Enhanced Oil Recovery
Digital Oil Field
Others
Processing & Separation
Water Treatment
Oil Treatment
Gas Treatment
Solids Management
Others
Market Analysis, Insights and Forecast – By Application
Onshore
Offshore
Shallow Water
Deepwater
Ultra-Deepwater
Market Analysis, Insights and Forecast – By Region
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
Continued….!
𝐆𝐞𝐭 𝐲𝐨𝐮𝐫 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.fortunebusinessinsights.com/enquiry/customization/oilfield-service-market-100174
𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
Name: Ashwin Arora
Email: sales@fortunebusinessinsights.com
Phone: US +1 424 253 0390 / UK +44 2071 939123 / APAC: +91 744 740 1245
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
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