Oilfield services companies provide a range of support services to the oil and gas industry. These services include drilling, well maintenance, equipment rental, and various support services critical to the exploration, extraction, and production of hydrocarbons. They play a pivotal role in the energy sector.
*Disclaimer: List of key companies in no particular order
Latest Company Updates:
October 2023- A project management, repair inspection, and overhaul services provider for oilfield drilling and marine equipment, MRDS Group, is on the pathway to witness substantial year-on-year development in the Middle East and North Africa (MENA) energy sector in Q4 of 2023 and into 2024. The prediction is directed by the fast development of MENA's oilfield services market, guessed to reach USD31.69bn by the end of 2023, with further growth expectations of reaching USD41.73bn in the next five years. These findings are highlighted in the recent Mordor Intelligence report. MRDS Group witnessed a remarkable 50% growth in 2022 compared to the previous year. It has successfully secured new contracts and accreditation achievements, solidifying its position as a trusted service provider in the global energy market. Additionally, investments in upstream operations focused on maximizing production capacity and profitability in the current high-price environment are expected to propel the market during the forecast period.
October 2023- China Oilfield Service Ltd (COSL) has secured a contract to deliver comprehensive onshore oilfield services to an undisclosed major oil company in Mexico. Although the contractor did not disclose extensive details about its win, it did confirm that the agreement is valued at 900 million yuan (USD123 million). COSL highlighted that the deal will be executed through its Mexican subsidiary, signifying a strategic shift for the Chinese company. This shift involves transitioning from solely providing drilling services to offering advanced technology solutions to its clients. This move aims to facilitate a transformation from primarily focusing on its drilling business to giving equal attention to equipment and technology in Mexico.
Top listed global companies in the industry are:
Oilfield Services Market Highlights:
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