oil and gas supporting activities market growth
Oil And Gas

Global Oil And Gas Supporting Activities Market Size, Forecasts, And Opportunities

Learn about the global oil and gas supporting activities market through The Business Research Company, which provides information on oil and gas supporting activities market size, oil and gas supporting activities market drivers and restraints, oil and gas supporting activities market players, the COVID-19 impact on the oil and gas supporting activities market, and more.

 

The global oil and gas supporting activities market size is expected to grow from $236.99 billion in 2021 to $257.56 billion in 2022 at a compound annual growth rate (CAGR) of 8.7%. The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The oil & gas supporting activities market is expected to reach $347.51 billion in 2026 at a CAGR of 7.8%.

The oil and gas supporting activities market was mainly driven by rapid growth in emerging markets in the historic period.

 

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The oil and gas supporting activities market consists of sales of support activities for oil and gas operations by entities (organizations, sole traders or partnerships) that provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling and extraction.

 

Global Oil And Gas Supporting Activities Market Segments Include:
By Type: Well Maintenance, Exploration, Well Developing

By Drilling Type: Offshore, Onshore

By End-User: Crude Petroleum Comprises, Natural Gas Extraction Comprises

By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the oil and gas supporting activities market in 2021.

 

Companies providing support activities for oil and gas operations are using rig-less technology to reduce turnaround time for decommissioning of wells. Rig-less P&A refers to decommissioning of oil wells wherein companies need not replace tubes and drill pipes while placing primary or secondary barriers, thus offering significant cost savings over rig-based operations. Also, the equipment used for rig-less P&A can also be operated at a water depth of 1600 feet.

 

TBRC’s oil and gas supporting activities market report covers:

Major Market Players: Schlumberger Ltd., TechnipFMC plc, Saipem, Halliburton, Weatherford International plc, Petrofac, Aibel, Calfrac Well Services Ltd., Patterson-UTI Energy, Inc., and Trican Well Service Ltd.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

 

The Oil And Gas Supporting Activities Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides oil and gas supporting activities market overviews, analyzes and forecasts market size, share, oil and gas supporting activities market players, oil and gas supporting activities market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s oil and gas supporting activities market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

 

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