The oilfield services sector is considered to be an essential partner for the oil exploration and production companies. They provide oil well maintenance, completion, production, supply, and logistical support services in both onshore and offshore. In general oilfield services market contains oilfield services, companies manufacture, repair, and maintain equipment used in the extraction and transport of oil.
The global oilfield services market is forecasted to reach USD 171.7 billion in 2025 from USD 135.1 billion in 2019, growing at a CAGR of 3.6%.
Here are Top 10 companies in the oilfield services market –
Founded in 1926 and headquartered at Houston, Texas; Schlumberger Limited provides a comprehensive range of technology, product, and services to the oil and gas industry. The company operates through four business segments, namely Reservoir Characterization, Drilling, Production, and Cameron. Its reservoir characterization segment provides services to western geco, wireline, testing services, one surface, software integrated solution, and integrated service management. Also, its drilling segment offers bits and drilling tools, M-I SWACO, drilling and measurements, land rings and integrated drilling services. In addition, company’s production segment offers services to well, one stim, completions, artificial lifts, integrated production services and as well as cameron segment involved in pressure and flow control for drilling and intervention rings, oil and gas wells and production facilities.
With operating facility in more than 85 countries, the company has its geographic presence across North America, Europe, Middle East, and Africa, Latin America, and Asia-Pacific.
Baker Hughes GE
Founded in 1987 and headquartered at Texas, U.S.; Baker Hughes GE provides integrated oilfield products, services, and digital solutions. The company operates through four business segments, namely Oilfield Services, Oilfield Equipment, Turbomachinery & Processing Solutions, and Digital Solutions. The company’s oilfield services provides products and services for on and offshore operations across the lifecycle of a well, ranging from drilling, evaluation, completion, production and intervention. Also, its oilfield equipment segment provides a broad portfolio of products and services to designs and manufactures onshore and offshore drilling and production systems and equipment for floating production platforms.
With operations in over 120 countries, the company has its geographic presence across North America, Europe, Asia-pacific, Latin America, and Middle East and Africa.
Founded in 1919 and headquartered at Texas, U.S.; Halliburton Company provides a wide range of services and products to oil and natural gas companies. The company operates through two business segments, namely Completion and Production and Drilling and Evaluation. The company’s completion and production segment offers production enhancement services. In addition, it’s drilling and evaluation segment provides drilling fluid systems, performance additives, completion fluids, solids control, specialized testing equipment, and waste management services; and drilling systems and services.
With two corporate offices in U.S and United Arab Emirates and 140 nationalities in more than 80 countries, the company has its geographic presence across North America, Europe, Latin America, Asia-Pacific, and Middle East and Africa.
Weatherford International, PLC
Founded in 1941 and headquartered at Houston, U.S.; Weatherford International, PLC provides equipment and services for the drilling, evaluation, completion, production, and intervention of oil and natural gas wells. The company offers equipment and drilling tools; tubular handling, management, and connection services; equipment rental services; and onshore contract drilling and related services through a fleet of land drilling and workover rigs. Also offers directional drilling services, and logging and measurement services while drilling; services related to rotary-steerable systems, high-temperature and high-pressure sensors, drilling reamers, and circulation subs; managed pressure drilling, conventional mud-logging, and drilling instrumentation.
With Operations in over 90 countries, the company has its geographic presence across North America, Europe, Latin America, and Asia-Pacific.
A report into the projected growth of the current Oilfield Services Market by Meticulous Research® has produced some incredible forecasts for the industry. By 2025, it’s expected to have grown at a CAGR of 3.6%, reaching over $ 171.7 billion.
China Oilfield Services Limited (COSL)
Founded in 2005 and headquartered at Dongcheng District, China; China Oilfield Services Limited (COSL) provides integrated offshore oilfield services. The company operates through four business segments, namely Drilling Services, Well Services, Marine Support Services, and Geophysical and Surveying Services. The company offers onshore and offshore well services, including logging; drilling and completion fluids; directional drilling; cementing; well completion and workover; stimulation; and others.
With 30 countries, the company has its geographic presence across North America, Europe, Latin America, and Asia-Pacific.
Basic Energy Services
Founded in 1992 and headquartered at Fort Worth, Texas; Basic Energy Services provides services to oil and natural gas drilling and producing companies. The company operates through six business segments, namely Well Servicing, Water Logistics, Pumping Services, Rental/Fishing Tools, Contract Drilling, and Tubulars. The company’s water logistic segment offers services to specialized tank trucks, storage tanks, pipelines, water wells, disposal facilities, water treatment and construction, and other related equipment. Also, company’s water serving segment offers services to rigs and related equipment and the contract drilling segment offers services to drilling rigs and related equipment.
With 114 locations, the company has geographic presence primarily in the North America.
Superior Energy Services, Inc.
Founded in 1991 and headquartered at Houston, U.S.; Superior Energy Services, Inc. is engaged in providing oilfield services and equipment to oil and natural gas exploration and production companies. The company operates through four business segments, namely Drilling Products and Services, Onshore Completion and Workover Services, Production Services, and Technical Solutions. The Company`s pressure pumping services offers comprising hydraulic fracturing and high pressure pumping services used to complete and stimulate production in new oil and gas wells; fluid management services used to obtain, move, store, and dispose of fluids that are involved in the exploration, development, and production of oil and gas; and workover services consisting of installations, completions, and sidetracking of wells, as well as support for perforating operations.
The Company has its geographic presence across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa via network of subsidiaries and partners.
FMC Technologies, Inc.
Founded in 1958 and headquartered at Houston, Texas; FMC Technologies, Inc. provides subsea systems, technologies, and services for the oil and gas industry. The company operates through three business segments, namely Subsea, Onshore/Offshore, and Surface Technologies. The company’s subsea segment provides integrated design, engineering, procurement, manufacturing, fabrication and installation, and life of field services for subsea oil and gas fields. Moreover, its surface technologies segment offers wellhead systems for standard and custom-engineered applications.
With three headquarters at London, Houston, and Paris, the company has its geographic presence across North America, Europe, Middle East and Africa, Latin America, and Asia-Pacific.
Founded in 1994 and headquartered at Allerød, Denmark; Welltec develops and provides well technologies and solutions for the oil and gas industry. The company offers various solution and services such as conveyance solutions, mechanical services, clean-out solutions, milling solutions, completion solutions, RLWI solutions, diagnostics, and fishing services.
The company has its geographical presence across North America, Europe, Middle East and Africa, Asia-Pacific, and Latin America.
Weir Oil and Gas
Founded in 1871 and headquartered at Glasgow, U.K.; Weir Oil and Gas engaged in designing, manufacturing, and providing services with highly engineered solution to the customers worldwide. The company operates through three business segments, namely Mining, Oil and Gas, and Flow Control. Its oil and gas segment offer product and services to drilling, well completion, production, and pipeline transportation sectors. In addition, the flow control segment offers services to the power generation, industrial, and oil and gas sectors, as well as design and manufactures valves and pumps.
The company has its geographical presence across North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Popular Mentions: National Oilwell Varco, Oil States International, Inc., Archer Limited
Authoritative Research on the Oilfield Services Market – Global Opportunity Analysis and Industry Forecast (2019-2025)
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