Drilling

Global Industry: Oil Majors Bet Big On Offshore Drilling In 2019

Posted on by Mozambique Resources Post
Global Industry: Oil Majors Bet Big On Offshore Drilling In 2019

Oil majors will spend US$208 billion on offshore drilling and other oilfield services this year, but not all sector players are positioned to benefit from the higher spending, Bloomberg reportedlast week, citing Rystad Energy’s head of oilfield service research, Audun Martinsen. Bigger oilfield service providers, unsurprisingly, would have a better chance at making the most of the recovery in offshore drilling, especially those with expertise in deepwater projects, according to Martinsen, among them UK-based TechnipFMC and…

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Markets: Global Drilling And Well Services Activity Sees An Upswing

Posted on by Mozambique Resources Post
Markets: Global Drilling And Well Services Activity Sees An Upswing

Since the industry’s all-time low in 2016, field service activities have rebounded and are expected to grow at an average annual rate of 4 percent towards 2021. This is in response to stronger demand for oil and gas and to some of the 30 major energy projects that received final investment decisions in 2017.

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