Press Release

Oil Fields Services Industry Projected to Reach $200 Billion Globally by 2015

May 6th, 2010

Global Information, Inc. would like to present a new market research report, "The Future of the Oil Fields Services Industry to 2015 - Rebound in Exploration and Drilling Activity Drives Growth" by GBI Research.

Growth in Exploration and Production (E&P) activity and an increase in offshore activity around the world has led to considerable growth in recent years for the global oil field services market. The recent global economic recession did impact the market negatively, which caused the market to only generate approximately $131 billion in 2009. However, the future is optimistic and GBI Research expects the global market for oil field services to reach nearly $200 billion by the end of the forecast period in 2015.

Key findings in this report:

  • Major markets for oil field services industry include North America, the Middle East and Africa.
  • South America, Central America, and Asia Pacific represent emerging markets.
  • The completion and production services market sector, which accounts for nearly 70% of total oil field services industry) plays a central role.
  • Schlumberger (WesternGeco) dominated global exploration and evaluation services market with 28% worldwide market share.
  • CGG Veritas posted market share of approximately 26%.
  • Petroleum Geo Services (PGS) and Fugro represent other top two exploration and evaluation service providers.

Global Information Inc.(GII) - specializing in market research provision for the vertical industries, GII offers expert independent recommendations of publications from hundreds of the globe's leading market research firms.

Product Code : 118653