Report Description

Saudi Arabia Oil Field Service Market is anticipated to grow at a steady pace in the forecast period, 2024-2028, owing to the lowering cost of oilfield services and growing production output.

Oil and gas exploration and production activities are intricate processes that call for cutting-edge machinery. Oilfield services (OFS) providers give the oil and gas industry the infrastructure, tools, intellectual property, and services they need to find, extract, and transport oil and gas to refineries, where it is eventually sold to consumers.

Rise in Investments in the Oil & Gas Sector to Drive the Market

The oilfield services sector in Saudi Arabia is anticipated to exhibit strong fundamentals, a well-built growth, and increased activity during the forecast period, as compared to any other geographic area in the world, as a result of the increase in investment in upstream activities throughout the region. Saudi Aramco announced an investment for the greater output in order to maintain its spare oil production capacity, improve its position as the industry leader, and pursue exploration and production initiatives focused on conventional and unconventional gas resources. The business has also emphasised its aspirations to increase natural gas production by double.

New Oilfield Discoveries Driving Market

In the east of the country, Saudi Arabia identified eight new oil and gas reserves. The two new oilfields are Sadawi and Naqa, while the five new gas fields are Abu Ali, Faras, Amjad, Badi, and Faris. Saudi Aramco is in charge of oil exploration in Saudi Arabia. Faskar, Janab, and Maqam were three oilfields, and Edmee and Murooj were two non-associated gas fields. For oilfield services firms in Saudi Arabia, these oil finds are anticipated to present business prospects, which are anticipated to create significant market growth opportunities over the course of the projection period.

Rising Demand Of Natural Gas

98% of the region's overall energy usage is made up of oil and natural gas. As a result, the Middle East's energy system is mostly dependent on the oil and gas industry. Although the Middle Eastern governments are working to diversify their energy sources and reduce their dependency on oil and gas, it is unlikely that this will happen anytime soon. Owing to the benefits of its low carbon emissions, natural gas-based power generation is anticipated to see large investments as more Middle Eastern nations join the Paris Climate Accord. The largest investor in gas power generation projects in the region is Saudi Arabia. Owing to increased attention being paid to the development of gas-based power infrastructure and the increased number of gas-based power generation projects planned in the Middle East, it is anticipated that domestic gas production will increase significantly. This is expected to fuel the demand for oilfield services in the region.

Increasing Production & Exploration Activities in Oil & Gas Industry to Favor Market Growth

Owing to increased energy demand and profitable investment prospects in the oil and gas sector, production and exploration activities are expected to increase during the forecast period. According to projections, a sizable portion of the world's total oil production will be conventional onshore oil. The DNV-GL Energy-Transition-Outlook predicts that in 2022, oil production would rise by 83 million barrels per day (Mbpd). Furthermore, by 2035, unconventional onshore oil production will have doubled to approximately 22 Mbpd, accounting for close to 30% of all world crude oil production. Therefore, it is expected that rising production and exploration activities in Saudi Arabia oil and gas industry will propel market expansion in the years to come.


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Market Segmentation

The Saudi Arabia Oil Field Service Market is divided into service type and location of deployment. Based on service type, the market is segmented into drilling services, completion services, production and intervention services, and others. Based on location of deployment, the market is divided into onshore and offshore.

Market Players

Major market players in the Saudi Arabia Oil Field Service Market are Saud Consult, M.S. Al-Suwaidi Holding Co. Ltd., SHOAIBI GROUP, Saudi Aramco, AFI Alaa Industrial Equipment Factory, Al Buaimi Trading & Cont Est, Al Enaizi Enterprises, Al Qahtani & Al Yami, AlMansoori Petroleum Services, and Arabian Chevron Inc.

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

Service Type

Location of Deployment

Regional scope

Eastern Region, Northern & Central Region, Western Region, Southern Region

Key companies profiled

Saud consult, M.S. Al-Suwaidi Holding Co. Ltd., SHOAIBI GROUP, Saudi Aramco, AFI Alaa Industrial Equipment Factory, Al Buaimi Trading & Cont Est, Al Enaizi Enterprises, Al Qahtani & Al Yami, AlMansoori Petroleum Services, Arabian Chevron Inc

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 Saudi Arabia Oil Field Service Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         Saudi Arabia Oil Field Service Market, By Service Type:

o   Drilling Services

o   Completion Services

o   Production and Intervention Services

o   Other Services

·         Saudi Arabia Oil Field Service Market, By Location of Deployment:

o   Onshore

o   Offshore

·         Saudi Arabia Oil Field Service Market, By Region:

o   Eastern Region

o   Northern & Central Region

o   Western Region

o   Southern Region

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Saudi Arabia Oil Field Service Market.

Available Customizations:

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).

Saudi Arabia Oil Field Service Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Product Overview

2.    Research Methodology

3.    Impact of COVID-19 on Saudi Arabia Oil Field Service Market

4.    Executive Summary

5.    Voice of Customers

5.1.1.    Brand Awareness

5.1.2.    Factors Considered for Choosing Oil & Gas Rig Service Vendor

5.1.3.    Major Challenges Related to Offshore Oil & Gas Rig

6.    Saudi Arabia Oil Field Service Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Service Type (Drilling Services, Completion Services, Production and Intervention Services, and Other Services)

6.2.2.    By Location of Deployment (Onshore and Offshore)

6.2.3.    By Region (Northern & Central Region, Western Region, Eastern Region, Southern Region)

6.2.4.    By Company

6.3.  Market Map

7.    Northern & Central Region Oil Field Service Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Service Type

7.2.2.    By Location of Deployment

8.    Western Region Oil Field Service Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Service Type

8.2.2.    By Location of Deployment

9.    Eastern Region Oil Field Service Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Service Type

9.2.2.    By Location of Deployment

10. Southern Region Oil Field Service Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Service Type

10.2.2. By Location of Deployment

11. Market Dynamics

11.1. Drivers

11.1.1. Rise in Investments in the Oil & Gas Sector in the Saudi Arabia

11.1.2. Rising Electricity Demand in the Saudi Arabia

11.2. Challenges

11.2.1. Geopolitical Tension

11.2.2. Volatility in Crude Oil Prices to Hinder Market Growth

12. Market Trends & Developments

12.1.   New Oilfield Discoveries

12.2.   Focused Plan to Begin Production from Unconventional Reserves

12.3.      Increasing Investment in Offshore Sector to Boost Market Growth

12.4.   Growing Number of Offshore Discoveries to Surge Demand

13. Policy & Regulatory Landscape

14. PORTER Analysis

15. Company Profiles

15.1.              Saud consult

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.             M.S. Al-Suwaidi Holding Co. Ltd.

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.             SHOAIBI GROUP

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.             Saudi Aramco

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.             AFI Alaa Industrial Equipment Factory  

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.             Al Buaimi Trading & Cont Est

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.             Al Enaizi Enterprises

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.             Al Qahtani & Al Yami

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.             Al Mansoori Petroleum Services

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.          Arabian Chevron Inc

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

About Us & Disclaimer

Figures and Tables

Frequently asked questions

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Saud consult, M.S. Al-Suwaidi Holding Co. Ltd., SHOAIBI GROUP, Saudi Aramco, AFI Alaa Industrial Equipment Factory, Al Buaimi Trading & Cont Est, Al Enaizi Enterprises, Al Qahtani & Al Yami, AlMansoori Petroleum Services, and Arabian Chevron, Inc are some of the major players in Saudi Arabia Oil Field Service Market.

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The oil and gas industry is served by oil field service businesses. Oil field service businesses offer a variety of services, such as drilling and formation evaluation, well construction, and completion, but they rarely engage in petroleum production directly.

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The dominant region in Saudi Arabia Oil Field Service Market is Eastern Region as one of the biggest oil and gas company lies here, and many rigs are present here.

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The main challenge faced by Saudi Arabia Oil Field Service Market are volatility in crude oil prices to hinder market growth and geopolitical tension.

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Parvati Sharma

Account Manager BD
Press Release

Saudi Arabia Oil Field Service Market to Grow at Impressive Rate During Through 2028

Jan, 2023

Increase in natural gas production and focused plan to begin production from unconventional reserves in the country is expected to drive the Saudi Arabia Oil Field Service Market.