New Market Research: Global Oilfield Services Market to Rebound, Great Demand for High Specification Rigs, and the Latest in Offshore Operations and Maintenance
FARMINGTON, Conn., Sept. 24, 2012 /PRNewswire-iReach/ -- The global oilfield services market has witnessed considerable growth in recent years due to an increase in exploration and production (E&P) activity and in activity in the offshore areas of the world. Special reports available from Global Information Inc. reveal that technological advancements in oilfield services such as coil shooting could boost oilfield applications while 8 percent annual growth in offshore operations and maintenance expenditure is projected through 2016. A third report available from Global Information Inc. says that pressure on the high specification rig supply chain will be significant over the next five years.
Oilfield Services Industry to 2016 - Technological Advancements, Unconventional Plays, and Deepwater Activity to Drive the Market
According to GBI Research, the global oilfield services market amounted to about $142 billion in 2008. However, due to the global economic slowdown, the market saw a negative growth, leading to a decrease in the overall market size. According to GBI Research estimates, the global oil field services market was expected to be about $138.6 billion in 2010, after some activity growth after the 2009 recession. With increased E&P activity and increased demand for oilfield services, the global market for oilfield services is expected to increase in the future, growing to approximately $200 billion by the end of the forecast period in 2016.
The industry is optimistic about the long term future, anticipating growth resumption by 2012-2013 and reducing the necessity of modifications to the long term business strategy of companies.
An executive summary and free sample pages from the full study are available at http://www.giiresearch.com/report/gbi235830-oilfield-services-industry-2016-technological.html
The World Land Drilling Rig Market Forecast 2012-2016
The world onshore drilling rig market is set to expand from an estimated 9,700 rigs today to more than 11,000 units by 2016. Such growth is driven by an increasing volume and complexity of well requirements in order to meet global production targets although meeting this growth may be a challenge. A significant number of high specification rigs and associated equipment will need to come to the market in the next five years and the pressure on the supply chain will be significant.
Douglas-Westwood estimates that growth in global active rig demand will average 5% per annum over the 2012-2016 period. This latest insight from Douglas-Westwood suggests an increasingly important role for frontier markets globally with an estimated two thirds of active rig demand coming from regions outside North America by 2016.
An executive summary and free sample pages from the full study are available at http://www.giiresearch.com/report/dw244573-world-land-drilling-rig-market-forecast-2012-2016.html
The World Offshore Operations & Maintenance Market Forecast 2012-2016
Over $335 billion worth of expenditure is expected over the next five years in offshore operations and maintenance. Demand for production-related services accounted for 44% of global O&M demand between 2007 and 2011. These services are directly associated with production levels from offshore facilities and are intensified as an oil or gas reservoir matures and requires additional effort to sustain production. The inevitable maturing of offshore fields will drive compound growth of 7.4% in the production services sector as operators struggle to come to terms with decreasing down-hole pressure and increasing water cuts.
This wide-ranging report details all sectors of the offshore operations and maintenance market, with comprehensive expenditure forecasts for each, segmented regionally. The report will enable the reader to better understand where and when to make investment decisions. Geared to senior executives' needs, the report assumes no previous knowledge of the subject area.
An executive summary and free sample pages from the full study are available at http://www.giiresearch.com/report/dw234459-world-offshore-operations-maintenance-market.html
About Global Information Inc. Global Information (GII) (http://www.giiresearch.com) is an information service company partnering with over 300 research companies around the world. Global Information has been in the business of distributing technical and market research for more than 25 years. Expanded from its original headquarters in Japan, Global Information now has offices in Korea, Taiwan, Singapore, Europe and the United States.
Media Contact: Jeremy Palaia Global Information, Inc., 1-860-674-8796, Press@gii.co.jp
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SOURCE Global Information, Inc.
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