| The Future of the Oil Fields Services Industry to 2015 - | | | | the dominance of these regions. This trend is expected |
| Rebound in Exploration and Drilling Activity Drives | | | | to continue in the future due to the discovery of new |
| Growth | | | | resources and continued E&P activity in these |
| The report highlights the various concerns, shifting | | | | regions. |
| trends and major regions in the global oilfield services | | | | South and Central America and Asia Pacific are |
| industry. The report provides forecasts of the global | | | | emerging markets for the oil field services industry. |
| oilfield services industry to 2015. The report also | | | | The discovery of huge reserves, especially in the |
| provides segmental forecasts of the global exploration | | | | offshore areas in these regions is the key factor |
| and evaluation services market, global drilling services | | | | driving growth there. These two regions are expected |
| market and global completion and production services | | | | to continue to increase their shares of the overall |
| market. The report provides in-depth analysis of the | | | | market in the years ahead. |
| key trends and challenges in the global oilfield services | | | | The completion and production services market is a |
| industry. The report also provides an analysis of the | | | | major part of the global oil field services market. |
| geographical trends in each of the market segments. | | | | Completion and production services account for close |
| An analysis of the competitive scenario and market | | | | to 70% of the total oil field services industry due to the |
| share analysis is also provided for each of the market | | | | breadth of services in this sector. The exploration and |
| segments. ( ) | | | | evaluation services market is the smallest part of the |
| Global Oil Field Services is Expected to Become a | | | | overall oil field services market. Not surprisingly, |
| $200 Billion Industry by 2015 | | | | revenues earned by the large integrated oil field |
| The global oil field services market has witnessed | | | | services companies primarily come from drilling |
| considerable growth in recent years due to an | | | | services and completion and production services. |
| increase in the Exploration and Production (E&P) | | | | Schlumberger (WesternGeco) and CGG Veritas are |
| activity and the growth in the activity in the offshore | | | | the Major Players in the Exploration and Evaluation |
| areas of the world. According to GBI Research, the | | | | Services Market |
| global oil field services market amounted to about $140 | | | | The global exploration and evaluation services market |
| billion in 2008. However, since the global economic slow | | | | is dominated by Schlumberger (WesternGeco) with a |
| down, the market has seen a negative growth, | | | | worldwide market share of close to 28%. This is |
| thereby leading to a decrease in the overall market | | | | followed by CGG Veritas with a market share of |
| size. According to GBI Research, the global oil field | | | | close to 26% of the total market. The other two top |
| services market amounted to about $131 billion in 2009. | | | | exploration and evaluation service providers are |
| Nonetheless, with increased E&P activity and | | | | Petroleum Geo Services (PGS) and Fugro. The top |
| increased demand for oil field services, the global | | | | four companies account for a dominating share of the |
| market for oil field services is expected to increase in | | | | global market of close to about 80%. The market |
| the future growing to about $200 billion by the end of | | | | share of the top four companies is expected to |
| the forecast period in 2015. | | | | remain stable due to the high entry barriers and a |
| North America and the Middle East and Africa are the | | | | depressed demand outlook in the short term. Some of |
| Major Markets for the Oil Field Services Industry | | | | the other companies providing the exploration and |
| North America and the Middle East and Africa are the | | | | evaluation services include TGS, Geokinetics, Dawson |
| major regional markets for global oil field service | | | | geophysical company, Tidelands Geophysical |
| providers. Both these markets account for more than | | | | Company, ION Geophysical Corporation, BGP, Global |
| half of the global oil field services market. The | | | | Geophysical, Geotrace Technologies, China Oilfield |
| presence of huge reserves in onshore and offshore | | | | Services (CNOOC), and the new entrant Polarcus. |
| areas of these regions is the major driving factor for | | | | |