DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Middle East Oil Field Services Market Outlook - Market Analysis by Geography, Type, Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2015-2020)" report to their offering.
Middle oil field services market is estimated to increase from $20.5 billion in 2014 to $38.1 billion by 2020.
Although, falling crude oil prices are forecasting a gloomy picture for OFS, service companies are expected to ride out the storm with long term contracts and mergers.
Oil & gas exploration and production is a complex process and each and every step requires sophisticated technology and equipment. Until the 90s, OFS firms were smaller and did straightforward tasks such as drilling vertical wells. But, over past two decades big oil & gas companies decided to outsource much of the exploration and production work which allowed the OFS firms to grow. OFS companies in turn drove the innovation in oil & gas sector by pioneering technologies like directional drilling and hydraulic fracturing.
The research published on OFS covers a variety of services such as well intervention, wireline logging, coiled tubing, completion, drilling, pressure pumping, waste management and oil country tubular goods.
Drivers
Increasing demand for energy and petro-chemicals and growing investments in oil & gas sector are some of the factors driving the OFS market.
An estimated 800 billion barrels of oil reserves are present in Middle East which makes it an attractive proposition for oil field services firms.
Challenges
Volatile oil & gas prices, environmental concerns, operational challenges and geo political situation in some regions are severely impairing the OFS market.
Key Topics Covered:
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Drivers, Constraints and Opportunities
5. Oil and Gas Scenario
6. Oil Field Services Value Chain Analysis
7. Industry Attractiveness - Porter's Five Force Analysis
8. Middle East Oil Field Services Market Segmentation, by type
9. Middle East Oil Field Services Market Segmentation, by application
10. Middle East Oil Field Services Market Segmentation, by geography
11. Key Company Analysis
- Schlumberger
- Halliburton
- Baker Hughes
- FMC Technologies
- Saipem
- Weatherford International
- National Oilwell Varco
- Petrofac
- BJ Services Company
- Al Mansoori
- China Oilfield Services Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/qbxrgx/middle_east_oil
