Seattle, WA -- (SBWIRE) -- 12/05/2019 -- Oilfield services includes different oil related activities such as exploration, drilling, completion, stimulation, production, and intervention among many others for fulfilling various purposes over the entire oil well exploration life cycle. The services are also helpful in well logging, perforation, zonal isolation, well stimulation, sand washing, & setting tubing plugs. These services help the operators explore and produce from oil & gas reservoirs.

New oil and gas fields are being discovered in order to meet the escalating demand, especially from the end-user sectors such as transportation, power plants, and other industries, is the primary driver of this market, besides increasing volume of crude oil production. The report also observes that enhanced oil recovery (EOR) technique, which involves gas injection, thermal injection, and chemical injection, is revolutionizing the oil and gas sector and thereby significantly boosting the demand for oilfield services.

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Market Segmentation:

Market, by Application:

o Onshore

o Offshore

Market, by Service:

o Drilling Services

o Completion Services

o Production Services

Regional Analysis:

Geographically, North America commanded the largest share of the overall oilfield services global market, followed by Europe and Asia Pacific. However, Asia-Pacific region is expected to grow faster, mainly due to factors such as steady oil production, increasing number of oil rig counts, and growing offshore activities in China.

Key Players:

Schlumberger Limited, Halliburton Company, Baker Hughes Incorporate, National Oilwell Varco, Inc., Weatherford International Ltd., Nabors Industries Ltd., Superior Energy Services Inc., Trican Well Service Ltd. and Precision Drilling Corporation.

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