The report, now available on ASDReports, recognizes the following companies as the key players in the Global Oilfield Services Market: Schlumberger, Halliburton, Weatherford International, National Oilwell Varco, and Baker Hughes.
Other Prominent Vendors in the market are: China Oilfield Services, Saipem, Petrofac, Transocean, Fluor, and Worley Parsons.
Commenting on the report, an analyst said: “The demand for oil and gas is likely to remain stable in the future. Although renewables have been gaining attention, the global energy mix will be mostly dominated by oil and gas in future. As the demand for oilfield services depends on the expenditures by the oil and gas industry, oilfield services companies remain optimistic for the future. The investments in oil are expected to be slightly higher than those in gas. These major investments will drive the growth of oilfield services in the future.”
According to the report, the consumption of oil and gas by end-users such as transportation, industries, and power plants has increased steadily over the past few years. To meet this demand, governments and vendors have invested in exploration and production activities to increase the production of oil and gas. The diminishing quantities of oil and natural gas among onshore reserves have forced governments and vendors to focus on offshore exploration and production. This has been increasingly driving offshore oilfield services.
Further, the report states that OFS companies are facing the challenge of increased cost of production.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Mar 14, 2016