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Middle East Oilfields and Drilling Services
Market Report - 2020
Oil and Gas industry is highly volatile and cyclical market.
The growth of oilfield services industry was directly
proport...
The downfall in the commodity prices had a ripple effect
on global oil field services and drilling services market
as well...
With the increased energy demand and increased
expenditure in E&P, the rental market for oilfields and
drilling equipments...
Significant capital expansions led by the major exploration
and production companies of Middle East has
augmented the dema...
E&P capital spending by Middle East in 2014 was recorded
at USD ~ million as compared to USD ~ million during
2013. More t...
The OFS companies provide a broad range of products
and services ranging from seismic surveys to deep and
ultra deep water...
The fundamental outlook of the oilfield services during
the last five years surged with the increased capital
spending in ...
Despite of the short term uncertainty of crude oil prices,
the E&P spending did not reflect a significant impact of
the OF...
The region remained to be the most impressive area for
the international oilfield services companies for greater
returns s...
In the year 2014, Saudi Arabia has been the largest
country in terms of oilfield services that has
commanded revenues shar...
Kuwait, Egypt and UAE have countered revenues share of
worth ~%, ~% and ~% respectively during 2014.These
countries in a c...
As the mature fields in Middle East have increased, the
upstream companies have shifted their focus towards
offshore areas...
The market was led by Schlumberger which occupied a
colossal share of ~% from the total OFS market of
Middle East followed...
The Middle East revenue of Halliburton from wireline
services was valued at USD ~ million in 2014 which
have been translat...
The OFS industry in Middle East is likely to witness a
CAGR of ~% from 2015 to 2019 and shall value to
approximately USD ~...
With the merger of Halliburton and Baker Hughes in
2015, the competition among the oilfield service
providers is likely to...
The drilling services industry of Middle East demonstrated
strong fundamentals, a well-built growth and increased
activity...
 Read Detail Report here –
https://www.kenresearch.com/energy-and-utilities/oil/middle-east-
oilfield-and-drilling-servic...
Thank you
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Middle east oilfields and drilling services market report |UAE Oilfield Services Market

Higher E&P Expenditure, financial durability of the companies and customers are likely to drive growth of oilfields in Middle East
Middle East Drilling Market is estimated to record revenues worth USD 88.2 billion by 2019. The surge in active rigs in the region, backed by shift in focus towards onshore drilling is projected to fuel market growth

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Middle east oilfields and drilling services market report |UAE Oilfield Services Market

  1. 1. Middle East Oilfields and Drilling Services Market Report - 2020
  2. 2. Oil and Gas industry is highly volatile and cyclical market. The growth of oilfield services industry was directly proportional to the growth in oil and gas industry.The global oilfield services industry was highly competitive with a lion’s share occupied by the Big Four’s, namely, Schlumberger, Halliburton, Baker Hughes and Weatherford.These companies are typically non- producers of oil and gas themselves; however, they provide services, equipments and personnel to oil and gas exploration and production companies.
  3. 3. The downfall in the commodity prices had a ripple effect on global oil field services and drilling services market as well as across the whole oil and gas value chain. However, Middle East markets were largely unchanged and came out to be the only vivid region globally where the E&P companies have augmented their capital spending in exploration, production and drilling activities. Middle Eastern countries across the region sought to adopt enhanced oil recovery techniques to maximize the value.
  4. 4. With the increased energy demand and increased expenditure in E&P, the rental market for oilfields and drilling equipments in Middle East witnessed a faster growth.The oilfield equipment rental market of Middle East valued to USD ~ million during 2014. Oilfields require specialized equipments and machinery to perform E&P and drilling activities.The increased capital spending on oilfields and drilling services in Middle East largely goes to the fact that the Middle Eastern oil exporting countries did not cut their production levels during the time when the commodity prices collapsed so as to make the drilling operations unprofitable in the US.
  5. 5. Significant capital expansions led by the major exploration and production companies of Middle East has augmented the demand for oilfield and drilling services. Middle East had more than ~% share in the global spending by major E&P giants.The global capital expenditure in exploration and production has crossed USD ~ billion in 2014 as compared to USD ~ billion in 2013.The expenditure in Middle East is expected to increase with more than ~% annually in the years to come as the increase E&P activities in the offshore areas, new discoveries and orders of new offshore rigs shall continue to drive the market.
  6. 6. E&P capital spending by Middle East in 2014 was recorded at USD ~ million as compared to USD ~ million during 2013. More than ~% of the market share has been occupied by the international oilfield services and drilling companies in Middle East.The indigenous players in the region do not have the expertise to provide technologically reliable and advanced solutions to the E&P companies.
  7. 7. The OFS companies provide a broad range of products and services ranging from seismic surveys to deep and ultra deep water drilling. Broadly, the OFS services can be divided into five stages which are reservoir/seismic surveys, exploration & production drilling, engineering, fabrication and installations, operations and finally the decommissioning of the well. The oilfield services market in Middle East was exposed to increased exploration and production activities in the past five years 2009-2014.
  8. 8. The fundamental outlook of the oilfield services during the last five years surged with the increased capital spending in the market and a robust demand for energy. The penetration of new simulation technologies and increased operational efficiency in offshore exploration in Middle East led the market to eventuate at USD ~ million in 2014 as compared to USD ~ million during 2013.
  9. 9. Despite of the short term uncertainty of crude oil prices, the E&P spending did not reflect a significant impact of the OFS market of the Middle East.The geopolitical tensions and civil unrest in few regions of Middle East brunt the OFS market largely in the regions such as Iran and Egypt. Saudi Arabia has been the largest country in terms of oilfield services that has commanded revenues share worth ~%. Rising domestic oil consumption in the country has pushed Saudi Arabia state controlled economy and has recognized it as the leader across Middle East.
  10. 10. The region remained to be the most impressive area for the international oilfield services companies for greater returns since the prior five years. Over the years, the rise in number of completed wells in the country has discerned a decline in share from 29.1% during 2009. The region remained to be the most impressive area for the international oilfield services companies for greater returns since the prior five years.
  11. 11. In the year 2014, Saudi Arabia has been the largest country in terms of oilfield services that has commanded revenues share worth 24%. Rising domestic oil consumption in the country has pushed Saudi Arabia state controlled economy and has recognized it as the leader across Middle East. Oman saw an upward trend in the market share, increasing by ~% in 2014 from 2012. In between 2011 and 2012, Oman made huge investments towards Enhanced Oil Recovery programs (EOR) which led to increased OFS activities in Oman
  12. 12. Kuwait, Egypt and UAE have countered revenues share of worth ~%, ~% and ~% respectively during 2014.These countries in a consolidated manner have contributed meager share relative to other Middle East countries, owing to lower number of oil discoveries. However, the growth prospects in these countries are quite favourable and hence several oilfield service providers have enhanced their expansion in these countries. More than ~% of the oil and gas exploration and production activities in Middle East are concentrated onshore.
  13. 13. As the mature fields in Middle East have increased, the upstream companies have shifted their focus towards offshore areas which has fueled the demand for OFS services. In 2014, the share of onshore oil fields services in the overall market was positioned at ~% which accounted to approximately USD ~ billion as compared to USD ~ billion in 2013.The Middle East ventured to find new acreages and invested heavily in offshore market.The oil producers strived for increased production in the waters using advanced technologies with the aim to surge down the operational costs which created opportunities for OFS.
  14. 14. The market was led by Schlumberger which occupied a colossal share of ~% from the total OFS market of Middle East followed by Halliburton with a market share of ~%. Baker Hughes and Weatherford stood at a share of ~% and ~% respectively in terms of revenues.The Middle East revenue of Schlumberger valued to approximately USD ~million in 2014. Halliburton has been the leader in pressure pumping market across Middle East market. For Halliburton, the pressure pumping segment accounted for USD ~ million which led to a market share of ~% in Middle East.
  15. 15. The Middle East revenue of Halliburton from wireline services was valued at USD ~ million in 2014 which have been translated into revenues share of worth ~% under wireline services. Baker Hughes has been the largest player in completion services and equipment market which has commanded share worth ~% during 2014.The presence of huge reserves in the region out of which many are yet to be explored and exploited presents an extensive market to the OFS companies in Middle East as compared to any other geographical locations across the globe.
  16. 16. The OFS industry in Middle East is likely to witness a CAGR of ~% from 2015 to 2019 and shall value to approximately USD ~million by the end of 2019.The key market edges for an OFS company are projected to be strong demand, higher E&P expenditure by the oil and gas companies, soaring prices and financial durability of the customer base.All the above conditions have positive outlook in Middle East in the years to come due to which market share of OFS firms is bound to increase.The OFS industry was witnessed as a competitive market in the past five years 2009-2014 and is dominated by the Big Four oilfields service providers.
  17. 17. With the merger of Halliburton and Baker Hughes in 2015, the competition among the oilfield service providers is likely to enlarge.The increase in demand for energy drives the need for exploration activities and investments.This increases the need for offshore exploration and production activities, which further leads to the demand of offshore drilling infrastructure and associated services.The drilling services industry is primarily a contractual industry which provides services to the exploration and production companies.
  18. 18. The drilling services industry of Middle East demonstrated strong fundamentals, a well-built growth and increased activity as compared to any other region across the globe during the past few years 2009-2014.The demand for drilling services is budding up with growing drilling activities in onshore as well as in offshore oil fields. Some of the drilling services like directional drilling, land drilling, offshore drilling, well service and work over are becoming essence, with the amplified development of oil & gas exploration and production activities
  19. 19.  Read Detail Report here – https://www.kenresearch.com/energy-and-utilities/oil/middle-east- oilfield-and-drilling-services-market-report/3260-103.html  Contact: Ken Research Ankur Gupta, Head Marketing & Communications ankur@kenresear.com  Website : www.kenresearch.com
  20. 20. Thank you

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