Energy & Environment Industry Today
Upstream Services Market Growth Rate Analysis and Forecast by Types, Well Type, by Region Development Status and Outlook 2018-2027
Global Upstream Services Market Information Report by Type (Pressure Pumping, Tubular goods, Waste Management, Coiled Tubing, Completion, Intervention, Well Fluids, Wireline, and Others), by Well Type (Land and offshore), and by Region - Forecast to 2027
Published 14 March 2018
Upstream Services Global 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%.
Oil & Gas industry is one of the major revenue generating industries which has pushed the market for exploration and production activities, where, upstream services methods is one of them. In other words, the growth in the oil & gas industry will create a positive impact on the market for global upstream services. Reviving fossil fuel demand is expected to result in a rise in demand for the Upstream Services market. The oil and gas industry has been experiencing severe revenue contraction post April 2014, following oil price decline. Persistent price downfall had a profound impact on the investments in the oil & gas industry, particularly the upstream sector. However, recent adjustments the oil prices have instigated a positive outlook for this industry. Changes in demand-supply dynamics is expected to induce a rise in the number of oil wells, thereby driving the upstream services market. Increasing demand for oil and gas is also expected to fuel the demand in the upstream services market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1006
Reliable upstream services answering the unique challenges faced by oil and gas operatives are essential for innovative, efficient and safe processes. Operating in the upstream sector carries a unique set of considerations and is becoming progressively challenging for oil and gas companies. As reserves diminish in and around established oil and gas hubs, the need for unconventional extraction methods grows, presenting businesses with myriad considerations. Exploration in ultra-deep waters and working with higher temperatures and pressures requires increasing innovation and new technologies, operational and financial efficiency and strong risk management processes.
Upstream Services Global Market - 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
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. Under the contract Halliburton will mobilize three rigs to drill development wells and carry out work over activities over the next two years.
Get Complete Report @ https://www.marketresearchfuture.com/reports/upstream-services-market
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
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%.
Oil & Gas industry is one of the major revenue generating industries which has pushed the market for exploration and production activities, where, upstream services methods is one of them. In other words, the growth in the oil & gas industry will create a positive impact on the market for global upstream services. Reviving fossil fuel demand is expected to result in a rise in demand for the Upstream Services market. The oil and gas industry has been experiencing severe revenue contraction post April 2014, following oil price decline. Persistent price downfall had a profound impact on the investments in the oil & gas industry, particularly the upstream sector. However, recent adjustments the oil prices have instigated a positive outlook for this industry. Changes in demand-supply dynamics is expected to induce a rise in the number of oil wells, thereby driving the upstream services market. Increasing demand for oil and gas is also expected to fuel the demand in the upstream services market.
Get Sample of Report @ https://www.marketresearchfuture.com/sample_request/1006
Reliable upstream services answering the unique challenges faced by oil and gas operatives are essential for innovative, efficient and safe processes. Operating in the upstream sector carries a unique set of considerations and is becoming progressively challenging for oil and gas companies. As reserves diminish in and around established oil and gas hubs, the need for unconventional extraction methods grows, presenting businesses with myriad considerations. Exploration in ultra-deep waters and working with higher temperatures and pressures requires increasing innovation and new technologies, operational and financial efficiency and strong risk management processes.
Upstream Services Global Market - 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
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. Under the contract Halliburton will mobilize three rigs to drill development wells and carry out work over activities over the next two years.
Get Complete Report @ https://www.marketresearchfuture.com/reports/upstream-services-market
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact:
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
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