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.
Prominent Players:
Schlumberger Limited (U.S.), Halliburton (U.S.), Baker Hughes Incorporated (U.S.), Petrofac Limited (Jersey), Weatherford (U.S.), TECHNIP (U.K), China Oilfield Services Limited (China), Transocean Ltd. (Switzerland), Flour Corporation (U.S.), and Saipem S.p.A. (Italy), GE Oil & Gas (U.S.)
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Global Upstream Services Market Overview
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%.
The oil and gas industry is fragmented into three major segments upstream, midstream and downstream. Out of all, upstream sector is the capital-consuming sector and oil and gas companies are trying to find the solution so that they can generate their ROI with the help of decision making and investment skills as upstream sector involves various processes, land acquisition, seismic surveys, exploration of wells, and drilling stages. It requires supervision and operational efficiency to complete the project. Upstream services comprise maintenances of tools, repairing, drilling equipment, pumping, waste management, sampling of fluids, dockside services, wellhead maintenance, and other activities related to exploration and production of oil and gas.
Upstream Services Market Segmental Analysis:
The global upstream services market is further segmented on the basis of type and well type.
Global Upstream Services Market, By Type
- Pressure Pumping
- Tubular Goods
- Waste Management
- Coiled Tubing
- Completion
- Intervention
- Well Fluids
- Wireline
- Others
Global Upstream Services Market, By Well Type
- Onshore
- Offshore
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.
In January, 2017 – Halliburton (NYSE: HAL) announced it has signed a contract with Shell Iraq Petroleum Development to provide drilling services for sustained production at Shell’s Majnoon Oil Field in Southern Iraq.
In October, 2016 – GE (NYSE:GE) and Baker Hughes (NYSE:BHI) announced that the companies have entered into an agreement to combine GE’s oil and gas business (“GE Oil & Gas”) and Baker Hughes to create a world-leading oilfield technology provider with a unique mix of service and equipment capabilities.
Table Of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Value Chain/Supply Chain Analysis
Continue…
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