Middle East & Africa Completion Equipment & Services Market is Expected to Register a 6.60% CAGR Through 2030
Rising Demand for Oil & Gas Production and Technological
Advancements in Completion Equipment are likely to propel the market during the
forecast period.
According to
TechSci Research report, “Middle East & Africa Completion
Equipment & Services Market – By Country, Competition, Forecast and
Opportunities, 2020-2030F”, Middle East & Africa Completion Equipment & Services Market was valued at USD 4.75 Billion in 2024 and is expected to reach USD 7.03 Billion by 2030 with a CAGR of 6.60% during the forecast period.
Government
policies and investments in the oil and gas sector are significant drivers of
the Completion Equipment & Services market in the Middle East and Africa.
Many MEA governments, recognizing the vital role of oil and gas in their
economies, are focused on enhancing the growth and sustainability of the energy
sector. This is especially true for countries that rely heavily on oil
revenues, such as Saudi Arabia, Iraq, and Angola, where there is an ongoing
push to modernize infrastructure and adopt more efficient and technologically
advanced exploration and production methods.
In the Middle East, major oil-producing
countries have been investing in improving their oilfield infrastructure to
maintain their position as leading producers. Saudi Arabia’s Vision 2030, for
example, outlines plans to diversify the economy while continuing to strengthen
the country’s position as a global energy leader. These efforts often include
significant investments in oilfield technology, which directly impacts the
demand for completion equipment and services.
African nations are also focusing on oil
and gas development. The African Petroleum Producers’ Organization (APPO) and
individual governments are pushing for the exploration of new fields and the
enhancement of existing ones to meet global energy demand. The push for deeper
and more complex offshore drilling projects in regions like the Gulf of Guinea
and East Africa, alongside improved onshore capabilities, has spurred the need
for advanced well completion systems.
Government incentives, subsidies, and
tax breaks often play a pivotal role in attracting foreign investments into the
oil and gas sectors in MEA countries. Such incentives help fund exploration and
development activities, which in turn drive the demand for the tools and
services necessary to complete wells successfully. Furthermore, regulatory
policies promoting sustainability and environmental safety increase the need
for more efficient and environmentally responsible completion techniques.
With strong government backing,
investments in the oil and gas sector are expected to continue to fuel growth
in the Completion Equipment & Services market in the Middle East and
Africa, ensuring that operators have the required technologies to maintain or
increase production.
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Based
on Application, Onshore operations dominate the Middle East & Africa
Completion Equipment & Services market primarily due to the region’s
extensive and easily accessible onshore oil and gas reserves. Countries such as
Saudi Arabia, Iraq, Kuwait, the United Arab Emirates, Nigeria, and Algeria
possess some of the world’s largest and most productive onshore oilfields.
These fields, such as Saudi Arabia’s Ghawar and Kuwait’s Burgan, are
characterized by high output and relatively low production costs, making them highly
attractive for investment and continuous development.
The
infrastructure for onshore drilling and completion is well-established in many
parts of the region, allowing for faster mobilization, lower operational risk,
and reduced service costs compared to offshore projects. Onshore fields are
also more logistically manageable, which facilitates the deployment of
completion equipment and services. These advantages make onshore operations
more appealing, especially for national oil companies (NOCs) and regional
players focused on cost-efficiency and reliable production. Additionally,
onshore development supports the growth of local oilfield services and
equipment providers, which further strengthens the supply chain and accelerates
well completion activities. Governments in the region often prioritize onshore
exploration and production to boost local employment, reduce import dependence,
and increase energy security.
The
technological challenges and higher capital requirements associated with
offshore and deepwater projects have caused many operators to favor onshore
fields, particularly during periods of market volatility or lower oil prices.
As a result, a significant portion of exploration and development budgets
continues to be allocated to onshore projects.
Based
on Country, Qatar is one of the fastest-growing
countries in the Middle East & Africa Completion Equipment & Services
market due to several factors that position it as a key player in the oil and
gas industry. First and foremost, Qatar has substantial oil and natural gas
reserves, particularly in its North Field, one of the largest natural gas
fields globally. The country has invested significantly in expanding its oil
and gas production capacity, which has led to increased demand for completion
equipment and services to support exploration and production activities.
One
of the primary drivers of Qatar’s rapid growth in this market is its focus on
enhancing production from existing fields and tapping into unconventional
reserves. As Qatar looks to extend the life of its mature fields and maximize
production rates, advanced well completion technologies, including hydraulic
fracturing, intelligent well systems, and sand control tools, have become
increasingly essential. These technologies are required to meet the complex
challenges of producing from deeper or more challenging reservoirs.
Qatar’s
continued investment in offshore projects, particularly in the North Field,
where it is expanding its gas production capabilities, drives the need for
specialized completion equipment suited for deepwater and subsea operations.
These projects require advanced wellhead systems, high-pressure equipment, and
corrosion-resistant tools to ensure safe and efficient operations in harsh
offshore environments.
The
government of Qatar’s Vision 2030, which includes plans for diversifying the
economy and further developing the country’s energy sector, has also
contributed to the growing demand for completion equipment and services. The
strategic importance of energy production to Qatar’s economy has led to
long-term investments in infrastructure, technology, and talent development,
further stimulating the growth of the Completion Equipment & Services
market.
Major companies operating in the Middle
East & Africa Completion Equipment & Services Market are:
- Schlumberger
Limited
- Halliburton
Company
- Baker Hughes
Company
- Weatherford
International plc
- National
Oilwell Varco, Inc.
- TechnipFMC plc
- Aker Solutions
ASA
- Saipem S.p.A.
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“The Middle East & Africa Completion
Equipment & Services market presents significant growth opportunities
driven by the region’s vast untapped oil and gas reserves, particularly in
offshore, deepwater, and unconventional resources. Increasing investments in
technological advancements, including smart well systems and automation,
provide opportunities for companies to enhance operational efficiency and
reduce costs. Moreover, the rising focus on sustainability and environmentally
responsible practices creates demand for eco-friendly completion technologies.
As regional governments prioritize energy diversification and infrastructure
development, there is ample potential for providers of completion equipment and
services to expand their offerings and secure long-term partnerships in these
growing markets.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“Middle East & Africa
Completion Equipment & Services Market, By Type
(Packers, Sand Control Tools, Liner Hangers, Valves, Others), By Service (Well
Planning & Design, Casing & Tubing Running, Cementing Services,
Perforating Services, Sand Control Services, Artificial Lift Services, Others),
By Application (Onshore, Offshore) By Country, Competition, Forecast &
Opportunities, 2020-2030F”,
has evaluated the future growth potential of Middle East & Africa Completion
Equipment & Services Market and provides statistics & information on Market
size, structure and future Market growth. The report intends to provide
cutting-edge Market intelligence and help decision-makers make sound investment
decisions. The report also identifies and analyzes the emerging trends along
with essential drivers, challenges, and opportunities in the Middle East &
Africa Completion Equipment & Services Market.
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