Report Description

India Oilfield Services Market is anticipated to grow at 12.70% in the forecast period, 2023-2028 and reach USD1133.46 million by 2028, owing to a rise in deep-water projects, new oilfield discoveries and high foreign investment by oil companies.

The oil, gas, and mining exploration and production industries are the main users of the high quality down-hole tools and drill stem components that OSS (Oilfield Services) makes and supports.

Increasing oil & gas investments

Over the next ten years, India intends to nearly quadruple its oil refining capacity to 450 MT in order to fulfil the growing domestic fuel demand as well as the export market. India has 23 refineries as of April 2022, with a total capacity of about 251.2 MMTPA, 19 of which are public, three private, and one joint venture. Refinery capacity utilization for 2020–21 is 88.8%. Indian Oil Corporation (IOC) is the largest refiner in the nation with an 80.6 MMTPA capacity. Almost 70% of total Indian refining output will be supplied by the top three firms, IOC, Bharat Petroleum Corporation (BPCL), and Reliance Industries (RIL), starting in FY 2020–21. The CAGR for refining capacity from 2011–12 to 2020–21 is 3.2%. India has seen a consistent rise in the production and use of petroleum products throughout the years. Petroleum products were produced in 2021–2022, totaling 254.3 MMT.

Rise in Deep-Water Projects to Present Robust Opportunities 

Growing number of deep-water and ultra-deepwater drilling projects will offer this industry lucrative opportunities throughout the course of the forecast period. There have been more initiatives as a result of the stabilization of crude oil prices, which has increased the profit margin for drilling and production companies. Despite the fact that oil and gas prices have plateaued and decreased by 50% in the most recent years, deepwater development expenditure growth has been outpacing it for the past three to four years. Capital expenditures (CAPEX) for many deepwater projects routinely reach USD5 billion, classifying them as so-called "mega projects." Even major operators and contractors with sophisticated project management processes and capabilities find it difficult to generate workable financial results in these circumstances.

Increasing production & exploration activities in the oil & gas industry

Oil and gas production, which requires expensive equipment and highly specialized people, is one of the capital-intensive industries. Plans are established for drilling once a business finds the oil or gas's location. Several oil and gas corporations get into contracts with specialist drilling firms and pay for the crew's labor as well as the rig's daily rates. The drilling depth, rock hardness, weather, and distance from the site can all affect how long the process takes. Data tracking using smart technology can help with drilling efficiency and well performance by providing real-time information and trends. Although all drilling rigs contain the same basic components, the drilling methods vary depending on the type of oil or gas and the geology of the area. The oil and gas industry's production and exploration operations are growing, which means that the equipment is being utilized more and requiring maintenance due to wear and tear.

The Government Initiatives

In order to boost demand and revive the economy in all areas, from supply to manufacturing, the Indian government has launched a number of measures over the years. To address the need for hydrocarbon energy and make energy more available, sustainable, and effective, the government is regulating a number of laws, reforms, and programs. For instance, the government of India is implementing initiatives under the Make in India program to help local equipment manufacturers with certain measures like attractive long-term funding and interest subvention to compete against the foreign vendors by setting up manufacturing clusters under the development of the oil industry. Also, the Ministry of Petroleum and Natural Gas has established a goal of 50% domestic content for investments in the upstream sector and is anticipated to change the standards for public sector enterprises' procurement criteria. So, it is anticipated that an increase in government initiatives will fuel the India Oilfield Services Market in the years to come.

Market Segmentation

The India Oilfield Services Market is divided into Application, Type, Services, Region and Competitive Landscape. 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 Services, the market is divided into Drilling Services, Pressure Pumping Services, Wireline Services, Cementing Services, Mud Engineering and Drilling Waste Management Services. The market is also segmented by region into West, South, North and East.

Company Profiles

Major market players in the India Oilfield Services Market are Schlumberger India Technology Centre Private Limited, Asian Energy Services Limited, HSL Asia Limited, Alphageo (India) Limited, Halliburton India Operations Pvt. Ltd., OGD Services Limited, Petrofac Engineering Services India Private Limited, Baker Hughes Oilfield Services India Private Limited, Oil States Industries (India) Private Limited, Fluor Daniel India Private Limited.


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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 USD525.5 million and was completed on October 10, 2021.

       · Abdul Latif Jameel Co Ltd and Greaves Electric Mobility Pvt Ltd. The Adani Ports and Special Economic Zone Ltd-Ocean Sparkle Ltd deal and the Abdul Latif Jameel Co Ltd-Greaves Electric Mobility Pvt Ltd. deal were valued at USD201.0 million and USD150.0 million, respectively.


Attribute

Details

Market size value in 2022

USD 567.67 Million

Revenue Forecast in 2028

USD 1133.46 Million

Growth Rate

12.70%

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

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

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Application

Type

Services

Regional Scope

West, South, North, East

Key Companies Profiled

Schlumberger India Technology Centre Private Limited, Asian Energy Services Limited, HSL Asia Limited, Alphageo (India) Limited, Halliburton India Operations Pvt. Ltd., OGD Services Limited, Petrofac Engineering Services India Private Limited, Baker Hughes Oilfield Services India Private Limited, Oil States Industries (India) Private Limited, Fluor Daniel India Private Limited.

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/pdf format on special request)

 

Report Scope:

In this report, 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   Equipment Rental

o   Field Operation

       ·   India Oilfield Services Market, By Services:

o   Drilling Services

o   Pressure Pumping Services

o   Wireline Services

o   Cementing Services

o   Mud Engineering

o   Drilling Waste Management Services

       ·   India Oilfield Services Market, By Region:

o   West

o   South

o   East

o   North

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).

Table of content

1.    Service Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.                         Markets Covered

1.2.2.                         Years Considered for Study

1.2.3.                         Key Market Segmentations

1.3.  Service Definition

1.3.1.                         By Type

1.3.2.                         By Services

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.2.1.                         Methodology Followed for Calculation of Market Size

2.2.2.                         Methodology Followed for Calculation of Market Share

2.2.3.                         Methodology Followed for Forecasting

2.3.  Partial List of Companies Interviewed

2.4.  Partial List of Secondary Sources

3.    Executive Summary

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

5.    Voice of Customer

5.1.  Brand Recall

5.2.  Factors Considered for Selecting Service Providers

5.3.  Current Need Gaps

6.    India Energy Outlook

6.1.  India Production of Crude Oil, Natural Gas Products & Petroleum Products

6.2.  India Refinery Capacity & Refinery Crude Throughput

6.3.  India Consumption of Petroleum Products & Natural Gas

6.4.  India Import of Crude Oil & Gas

6.5.  India Imports & Exports of Petroleum Products and Gas

6.6.  India FDI Inflows under Petroleum & Gas Sector

7.    Oil Fields in India

7.1.  Oil and Natural Gas Corporation Limited

7.2.  Oil India Limited

7.3.  PSC +RSC/CBM

8.    India Rig Count Outlook

9.    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 (Onshore and Offshore)

9.2.2.               By Type (Equipment Rental and Field Operation)

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

9.2.4.               By Region (West India, South India, East India and North India)

9.2.5.               By Company (2022)

9.3.  Market Map (By Application, By Type, By Services, By Region)

10. West 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 Services

11. South India Oilfield Services Market Outlook

11.1.       Market Size & Forecast

11.1.1.                By Value

11.2.       Market Share & Forecast

11.2.1.                By Application

11.2.2.                By Type

11.2.3.                By Services

12. East India Oilfield Services Market Outlook

12.1.       Market Size & Forecast

12.1.1.                By Value

12.2.       Market Share & Forecast

12.2.1.                By Application

12.2.2.                By Type

12.2.3.                By Services

13. North India Oilfield Services Market Outlook

13.1.       Market Size & Forecast

13.1.1.                By Value

13.2.       Market Share & Forecast

13.2.1.                By Application

13.2.2.                By Type

13.2.3.                By Services

14. Market Dynamics

14.1.       Drivers

14.2.       Challenges

15. Market Trends and Developments

16. Policy and Regulatory Landscape

17. Porter’s Five Force Analysis

18. India Economic Profile

19. Company Profiles

19.1.       Schlumberger India Technology Centre Private Limited

19.1.1.                Business Overview

19.1.2.                Key Metrics

19.1.3.                Key Services

19.1.4.                Key Personnel

19.1.5.                Key Contact Person

19.1.6.                Headquarters Address

19.2.       Asian Energy Services Limited

19.2.1.                Business Overview

19.2.2.                Key Metrics

19.2.3.                Key Services

19.2.4.                Key Personnel

19.2.5.                Key Contact Person

19.2.6.                Headquarters Address

19.3.       HSL Asia Limited

19.3.1.                Business Overview

19.3.2.                Key Metrics

19.3.3.                Key Services

19.3.4.                Key Personnel

19.3.5.                Key Contact Person

19.3.6.                Headquarters Address

19.4.       Alphageo (India) Limited

19.4.1.                Business Overview

19.4.2.                Key Metrics

19.4.3.                Key Services

19.4.4.                Key Personnel

19.4.5.                Key Contact Person

19.4.6.                Headquarters Address

19.5.       Halliburton India Operations Pvt. Ltd.

19.5.1.                Business Overview

19.5.2.                Key Metrics

19.5.3.                Key Services

19.5.4.                Key Personnel

19.5.5.                Key Contact Person

19.5.6.                Headquarters Address

19.6.       OGD Services Limited

19.6.1.                Business Overview

19.6.2.                Key Metrics

19.6.3.                Key Services

19.6.4.                Key Personnel

19.6.5.                Key Contact Person

19.6.6.                Headquarters Address

19.7.       Petrofac Engineering Services India Private Limited

19.7.1.                Business Overview

19.7.2.                Key Metrics

19.7.3.                Key Services

19.7.4.                Key Personnel

19.7.5.                Key Contact Person

19.7.6.                Headquarters Address

19.8.       Baker Hughes Oilfield Services India Private Limited

19.8.1.                Business Overview

19.8.2.                Key Metrics

19.8.3.                Key Services

19.8.4.                Key Personnel

19.8.5.                Key Contact Person

19.8.6.                Headquarters Address

19.9.       Oil States Industries (India) Private Limited

19.9.1.                Business Overview

19.9.2.                Key Metrics

19.9.3.                Key Services

19.9.4.                Key Personnel

19.9.5.                Key Contact Person

19.9.6.                Headquarters Address

19.10.    Fluor Daniel India Private Limited

19.10.1.              Business Overview

19.10.2.              Key Metrics

19.10.3.              Key Services

19.10.4.              Key Personnel

19.10.5.              Key Contact Person

19.10.6.              Headquarters Address

20. Strategic Recommendations

21. About Us & Disclaimer

Figures and Tables

List of Figures

Figure 1: India Onshore Rig Count, Jan 2017-Dec 2017

Figure 2: India Offshore Rig Count, Jan 2017-Dec 2017

Figure 3: India Onshore Rig Count, Jan 2018-Dec 2018

Figure 4: India Offshore Rig Count, Jan 2018-Dec 2018

Figure 5: India Onshore Rig Count, Jan 2019-Dec 2019

Figure 6: India Offshore Rig Count, Jan 2019-Dec 2019

Figure 7: India Onshore Rig Count, Jan 2020-Dec 2020

Figure 8: India Offshore Rig Count, Jan 2020-Dec 2020

Figure 9: India Onshore Rig Count, Jan 2021-Dec 2021

Figure 10: India Offshore Rig Count, Jan 2021-Dec 2021

Figure 11: India Onshore Rig Count, Jan 2022-Dec 2022

Figure 12: India Offshore Rig Count, Jan 2022-Dec 2022

Figure 13: India Oilfield Services Market Size, By Value (USD Million), 2018-2028F

Figure 14: India Oilfield Services Market Share, By Application, By Value, 2018-2028F

Figure 15: India Oilfield Services Market Share, By Type, By Value, 2018-2028F

Figure 16: India Oilfield Services Market Share, By Services, By Value, 2018-2028F

Figure 17: India Oilfield Services Market Share, By Region, By Value, 2018-2028F

Figure 18:  India Oilfield Services Market Share, By Company, By Value, 2022

Figure 19: India Oilfield Services Market Map, By Application, Market Size (USD Million) & Growth Rate (%), 2022

Figure 20: India Oilfield Services Market Map, By Type, Market Size (USD Million) & Growth Rate (%), 2022

Figure 21: India Oilfield Services Market Map, By Services, Market Size (USD Million) & Growth Rate (%), 2022

Figure 22: India Oilfield Services Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2022

Figure 23: West India Oilfield Services Market Size, By Value (USD Million), 2018-2028F

Figure 24: West India Oilfield Services Market Share, By Application, By Value, 2018-2028F

Figure 25: West India Oilfield Services Market Share, By Type, By Value, 2018-2028F

Figure 26: West India Oilfield Services Market Share, By Services, By Value, 2018-2028F

Figure 27: South India Oilfield Services Market Size, By Value (USD Million), 2018-2028F

Figure 28: South India Oilfield Services Market Share, By Application, By Value, 2018-2028F

Figure 29:  South India Oilfield Services Market Share, By Type, By Value, 2018-2028F

Figure 20: South India Oilfield Services Market Share, By Services, By Value, 2018-2028F

Figure 31: East India Oilfield Services Market Size, By Value (USD Million), 2018-2028F

Figure 32: East India Oilfield Services Market Share, By Application, By Value, 2018-2028F

Figure 33: East India Oilfield Services Market Share, By Type, By Value, 2018-2028F

Figure 34: East India Oilfield Services Market Share, By Services, By Value, 2018-2028F

Figure 35: North India Oilfield Services Market Size, By Value (USD Million), 2018-2028F

Figure 36: North India Oilfield Services Market Share, By Application, By Value, 2018-2028F

Figure 37: North India Oilfield Services Market Share, By Type, By Value, 2018-2028F

Figure 38: North India Oilfield Services Market Share, By Services, By Value, 2018-2028F

List of Tables

Table 1: India Production of Crude Oil, Natural Gas Products & Petroleum Products, 2012-2022

Table 2: India Refinery Capacity & Refinery Crude Throughput, 2012-2022

Table 3: India Consumption of Petroleum Products & Natural Gas, 2012-2022

Table 4: India Import of Crude Oil & Gas, 2012-2022

Table 5: India Imports & Exports of Petroleum Products, 2012-2022

Table 6: India FDI Inflows under Petroleum & Gas Sector (USD Million) , 2012-2022

Table 7: Oil and Natural Gas Corporation Limited (0nshore Fields), As on 31 March 2022

Table 8: Oil and Natural Gas Corporation Limited (0ffshore Fields), As on 31 March 2022

Table 9: Oil India Limited (Onshore Fields), As on 31 March 2022

Table 10: PSC +RSC/CBM (0nshore +CBM Fields), As on 31 March 2022

  Table 11: PSC +RSC/CBM (0ffshore Fields), As on 31 March 2022

Frequently asked questions

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Schlumberger India Technology Centre Private Limited, Asian Energy Services Limited, HSL Asia Limited, Alphageo (India) Limited, Halliburton India Operations Pvt. Ltd., OGD Services Limited, Petrofac Engineering Services India Private Limited, Baker Hughes Oilfield Services India Private Limited, Oil States Industries (India) Private Limited, Fluor Daniel India Private Limited are some of the major players in India Oilfield Services Market.

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The major segments in the India Oilfield Services Market are application, type, and services.

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The dominant region in India Oilfield Services Market is the West Region, as West region has maximum number of wells in Mumbai High region, and the region contains maximum fields therefore requiring oilfield services.

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The main challenges faced by India Oilfield Services Market are high initial cost of investment and environmental effects of exploration and production.

profile

Parvati Sharma

Account Manager BD
Press Release

India Oilfield Services Market is Expected to Register 12.70% CAGR through 2028

Apr, 2023

Increasing oil & gas investments and rising deep-water projects in the country are expected to drive the India Oilfield Services Market in the forecast period.