Qatar Oil Country Tubular Goods OCTG Market |Reserves in Million Barrels Saudi Arabia - PowerPoint PPT Presentation

Loading...

PPT – Qatar Oil Country Tubular Goods OCTG Market |Reserves in Million Barrels Saudi Arabia PowerPoint presentation | free to download - id: 7eb467-MDhmN



Loading


The Adobe Flash plugin is needed to view this content

Get the plugin now

View by Category
About This Presentation
Title:

Qatar Oil Country Tubular Goods OCTG Market |Reserves in Million Barrels Saudi Arabia

Description:

Demand for High Specification Rigs and Increase in Deepwater Drilling Activities to Shape Market Potential for Middle East Oilfield and Drilling Services: Ken Research The upstream companies operating in Middle East sought jackups rigs with more specifications so as to drill more efficiently and optimize the costs of operations. – PowerPoint PPT presentation

Number of Views:43

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Qatar Oil Country Tubular Goods OCTG Market |Reserves in Million Barrels Saudi Arabia


1
Middle East Oilfields and Drilling Services
Market Report - 2020
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
    lions share occupied by the Big Fours, 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
  • 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 EP
    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
  • With the increased energy demand and increased
    expenditure in EP, 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
    EP 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
  • 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 EP 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 EP activities in the
    offshore areas, new discoveries and orders of new
    offshore rigs shall continue to drive the market.

6
  • EP 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 EP companies.

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
  • 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
  • Despite of the short term uncertainty of crude
    oil prices, the EP 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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
  • 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 EP
    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
  • 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
  • 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
  • Read Detail Report here https//www.kenresear
    ch.com/energy-and-utilities/oil/middle-east-oilfie
    ld-and-drilling-services-market-report/3260-103.ht
    ml
  • ContactKen ResearchAnkur Gupta, Head Marketing
    Communicationsankur_at_kenresear.com
  • Website www.kenresearch.com

20
Thank you
About PowerShow.com