Friday 17 June 2016

There is hope in the oilfield service industry despite the current downturn. Closed and abandoned service markets as well as new emerging markets can still provide opportunities for service companies. Rystad Energy expects a $30 billion growth from 2014 to 2018 to be realized for 20 countries around the world.

Low oil prices have not affected closed and emerging markets to the same degree. There are several exciting potential growth opportunities in more than 20 countries worldwide. Iran is expected to have the largest growth, increasing its purchases by more than $6 billion from 2014 to 2018 to realize its production targets. Saudi Arabia is growing purchases in most segments, except EPCI, to maintain production capacity, and Mozambique’s purchases will ramp up as the country prepares for offshore gas developments. Egypt and Turkmenistan’s purchases are mainly driven by field development at Zohr, West Nile Delta and Yolotan.

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