India Oilfield Services Market is anticipated to grow steadily in the forecast period, 2023-2028, witnessing the rise in Deep-Water Projects to offer Robust Opportunities in the country.

The down-hole tools and drill stem components produced and supported by OSS (Oilfield Services) are primarily used in the exploration and production phases of the mining, oil, and gas sectors.

Increasing oil & gas investments

To meet the expanding local fuel demand and the export market, India expects to nearly double the oil refining capacity to 450 MT over the next ten years. As of April 2022, India's refining capacity was roughly around 251.2 MMTPA, with 23 refineries—19 in the public sector, 3 in the private sector, and 1 in a joint venture. In the period 2020–21, refinery capacity utilization was 88.8%, represents the use of the atmospheric crude oil distillation units, the rate is calculated by dividing the gross input to these units by the operable refining capacity of the units. With 80.6 MMTPA capacity, the Indian Oil Corporation (IOC) is the biggest refinery in the country. During this period, the top three companies—IOC, Bharat Petroleum Corporation (BPCL), and Reliance Industries (RIL) provided over 70% of all Indian refining output. CAGR from 2011–12 to 2020–21 of the Refining Capacity is 3.2%. Over the years, both the production and consumption of petroleum products steadily increased in India. 254.3 MMT worth of petroleum products were produced in 2021–2022 alone.

Rise in Deep-Water Projects to offer Robust Opportunities 

Over the projection period, numerous deep-water and ultradeep-water drilling projects are expected to turn profitable prospects for this market. There have been more initiatives as a result of the stabilization of crude oil prices, which increased the profit margin for drilling and production enterprises. Although, deep-water development inflation has been exceeding oil and gas price for past three to four years and many deep-water projects have capital expenditures (CAPEX) that exceed USD 5 billion, placing them in "mega project" category. The large operators and contractors with extensive project management methodologies and capacities struggle in these conditions to produce workable financial results.

Increasing Production & Exploration Activities in the Oil & Gas Industry

One of the capital-intensive businesses are oil and gas production, which requires expensive machinery and highly skilled labor.  It requires a corporation to set-up the location for drilling plans and extraction. Numerous oil and gas businesses get into agreements with specialized drilling companies and pay for the crew's labor and rig day rates. Although all drilling rigs have the same fundamental parts, the drilling techniques differ based on the type of oil or gas and the location's geology. As production & exploration activities are increasing in the oil & gas industry, the machineries are used more, and there will be wearing and tearing, which requires service.


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Market Segmentation

The India Oilfield Services Market is divided into Application, Type, and Service. Based on Application, the market is divided into Onshore and offshore. Based on Type, the market is segmented into Field Operation and Equipment Rental. Based on Service, the market is divided into Drilling Services, Mud Engineering, Wireline Services, Pressure Pumping Services, Cementing Services, and Drilling Waste Management Services. The market is segmented by region in West, South, North, and East.

Market Players

Major market players in the India Oilfield Services Market are Schlumberger India Technology Centre Private Limited, Halliburton Oilfield Services India Limited, Essar Oilfield Services India Limited, and Petrofac Engineering Services India Pvt Ltd.

Recent Development

  • The deal secured between Reliance New Energy Solar Ltd. and Sterling and Wilson Renewable Energy Ltd. was the largest M&A deal in the India Oil & Gas sector, which was valued at $525.5 million which completed on October 10, 2021.
  • Greaves Electric Mobility, one of India's electric vehicle (EV) manufacturers, has received an investment commitment from Abdul Latif Jameel worth up to $220 million (about 1,700 crore). In the beginning, Abdul Latif Jameel would put up $150 million (1,160 crore) for a 35.8% stake in Greaves Electric Mobility, making him the second-largest shareholder in the business.
  • At its new training site in Louisiana, Halliburton began operating a sizable, coiled tubing intervention system in May 2021. The method comprises Halliburton's V135HP coiled tubing injector, a reel with the capacity to hold 36,000 feet of 2-3/8-inch coiled tubing, and a tension lift frame with a total of 750 tonnes. These components are the largest, most potent, and strongest components ever deployed.

Attribute

Details

Base Year

2022

Historic Data

2018 – 2022

Estimated Year

2023

Forecast Period

2023 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028

Report coverage

Revenue forecast, company share, growth factors, and trends

Segments covered

Application

Type

Service

Regional scope

West, South, North, East

Key companies profiled

Schlumberger India Technology Centre Private Limited, Halliburton Oilfield Services India Limited, Essar Oilfield Services India Limited, Petrofac Engineering Services India Pvt Ltd.

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 Report Scope:

In this report, the India Oilfield Services Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Oilfield Services Market, By Application:

o   Onshore

o   Offshore

·         India Oilfield Services Market, By Type:

o   Field Operation

o   Equipment Rental

·         India Oilfield Services Market, By Service:

o   Drilling Services

o   Mud Engineering

o   Wireline Services

o   Pressure Pumping Services

o   Cementing Services

o   Drilling Waste Management Services

·         India Oilfield Services Market, By Region:

o   West

o   South

o   North

o   East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Oilfield Services Market.

Available Customizations:

India Oilfield Services Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

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1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on India Oilfield Services Market

4.    Executive Summary

5.    Voice of Customers

5.1.1.    Brand Awareness

5.1.2.    Factors Considered for Choosing Oil & Gas Service Vendor

5.1.3.    Major Challenges Related to Offshore Oil & Gas Rig Service

6.    India Oilfield Services Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Application (Onshore, Offshore)

6.2.2.    By Type (Field Operation, Equipment Rental)

6.2.3.    By Services (Drilling Services, Mud Engineering, Wireline Services, Pressure Pumping Services, Cementing Services, Drilling Waste Management Services)

6.2.4.    By Region

6.2.5.    By Company

6.3.  Market Map

7.    West India Oilfield Services Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Application

7.2.2.    By Type

7.2.3.    By Service

8.    North India Oilfield Services Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Application

8.2.2.    By Type

8.2.3.    By Service

9.    South India Oilfield Services Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Application

9.2.2.    By Type

9.2.3.    By Service

10. East India Oilfield Services Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Application

10.2.2. By Type

10.2.3. By Service

11. Market Dynamics

11.1. Drivers

11.1.1. Technological innovation

11.1.2. Redevelopment of Development Fields

11.1.3. Technological Advancement

11.2. Challenges

11.2.1. The high initial cost of investment

11.2.2. Environmental effect of E&P

12. Market Trends & Developments

12.1.   The growing demand

12.2.   The adoption of laser drilling techniques

12.3.   New technologically enhanced processes

13. Policy & Regulatory Landscape

14. PORTER Analysis

15. Company Profiles

15.1.              Schlumberger India Technology Centre Private Limited

15.1.1. Business Overview

15.1.2. Key Revenue and Financials (If Available)

15.1.3. Recent Developments

15.1.4. Key Personnel

15.1.5. Key Product/Services

15.2.             Halliburton Oilfield Services India Limited

15.2.1. Business Overview

15.2.2. Key Revenue and Financials (If Available)

15.2.3. Recent Developments

15.2.4. Key Personnel

15.2.5. Key Product/Services

15.3.             Baker Hughes India Pvt. ltd.

15.3.1. Business Overview

15.3.2. Key Revenue and Financials (If Available)

15.3.3. Recent Developments

15.3.4. Key Personnel

15.3.5. Key Product/Services

15.4.             Essar Oilfield Services India Limited

15.4.1. Business Overview

15.4.2. Key Revenue and Financials (If Available)

15.4.3. Recent Developments

15.4.4. Key Personnel

15.4.5. Key Product/Services

15.5.             HLS Asia Limited  

15.5.1. Business Overview

15.5.2. Key Revenue and Financials (If Available)

15.5.3. Recent Developments

15.5.4. Key Personnel

15.5.5. Key Product/Services

15.6.             Petrofac Engineering Services India PVT Ltd

15.6.1. Business Overview

15.6.2. Key Revenue and Financials (If Available)

15.6.3. Recent Developments

15.6.4. Key Personnel

15.6.5. Key Product/Services

15.7.             Nabors Drilling International Ltd

15.7.1. Business Overview

15.7.2. Key Revenue and Financials (If Available)

15.7.3. Recent Developments

15.7.4. Key Personnel

15.7.5. Key Product/Services

15.8.             Oil States Industries India Private Limited

15.8.1. Business Overview

15.8.2. Key Revenue and Financials (If Available)

15.8.3. Recent Developments

15.8.4. Key Personnel

15.8.5. Key Product/Services

15.9.             Transocean Offshore Drilling (India) Private Limited

15.9.1. Business Overview

15.9.2. Key Revenue and Financials (If Available)

15.9.3. Recent Developments

15.9.4. Key Personnel

15.9.5. Key Product/Services

15.10.          Fluor Daniel India Private Limited

15.10.1.              Business Overview

15.10.2.              Key Revenue and Financials (If Available)

15.10.3.              Recent Developments

15.10.4.              Key Personnel

15.10.5.              Key Product/Services

16. Strategic Recommendations

16.1.   Key focus on Eastern Region

16.2.   Key focus towards Onshore Segment

17. About Us & Disclaimer

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