Report Overview

Middle East and Africa Oilfield Services Market– Industry Trends & Forecast Report, 2030

Middle East and Africa Oilfield Services Market size was estimated at USD 23.11 billion in 2023. During the forecast period between 2024 and 2030, the Middle East and Africa Oilfield Services Market size is expected to expand at a CAGR of 6.98% reaching a value of USD 28.98 billion by 2030. The Middle East and Africa Oilfield Services Market is influenced by several driving factors, including increased exploration and production activities driven by rising energy demand, advancements in drilling technologies enhancing efficiency and productivity, government initiatives to attract foreign investment in the oil and gas sector, growing adoption of enhanced oil recovery techniques to maximize extraction from mature fields, and the presence of significant reserves in untapped regions. Additionally, geopolitical stability, regulatory reforms promoting industry growth, and strategic partnerships among oilfield service providers contribute to market expansion. These factors collectively shape the dynamic landscape of the Middle East and Africa Oilfield Services Market.

Oilfield Services – Overview

Oilfield services refer to companies that provide a range of services and equipment to the oil and gas industry. These services encompass various aspects of exploration, drilling, production, and maintenance in oil and gas fields. Oilfield service companies offer expertise in areas, such as seismic data acquisition, drilling rig operations, well construction, well logging, well testing, and reservoir evaluation. They play a crucial role in supporting oil and gas companies throughout the lifecycle of a well, from initial exploration to eventual production. These services are vital for maximizing the efficiency and productivity of oil and gas operations worldwide.

Middle East and Africa Oilfield Services Market  

Growth Drivers

Enhanced Oil Recovery Driving Market Growth

The rising demand for enhanced oil recovery techniques across diverse sectors and nations is a pivotal growth driver for the Middle East and Africa Oilfield Services Market. These services play a crucial role in managing subsurface pressures, mitigating borehole erosion, minimizing formation damage, and optimizing drilling parameters. Through technological advancements, such as data management enhancements and increased operational efficiencies, oilfield services facilitate accurate and time-efficient outcomes, fostering market expansion.

Growing Preferences for Renewable Energy Fueling Market Growth

The widespread adoption of renewable energy sources, including solar, wind, geothermal, biomass, and hydropower, as alternatives to traditional coal and oil, serves as a significant growth catalyst for the Middle East and Africa Oilfield Services Market. These sources meet energy demands across various industries and also align with environmental regulations aimed at reducing carbon emissions. The emphasis on sustainability further propels market growth, reflecting a shift towards cleaner energy alternatives.

Challenges

Regulatory Hurdles

Meeting regulatory standards demands oilfield services to upgrade manufacturing processes. Government regulations enforce strict policies, elongating approval timelines. This impediment hampers market growth, increasing obstacles for coatings manufacturers in Middle East and Africa.

Impact of Escalating Geopolitical Tensions on Middle East and Africa Oilfield Services Market  

Escalating geopolitical tensions have profound effects on the Middle East and Africa Oilfield Services Market. With the Middle East being a major oil-producing region and Africa holding significant reserves, any disruption in these areas can severely impact global oil supply. Geopolitical conflicts in Yemen, Syria, and Libya, as well as tensions between Iran and the United States, have led to uncertainty and volatility in oil prices. Such instability hampers investments in oilfield services, affecting exploration, drilling, and production activities. Additionally, geopolitical tensions often result in infrastructure damage and project delays, further complicating operations for oilfield service companies. Companies operating in these regions must navigate complex political landscapes and mitigate risks, impacting their profitability and growth prospects amidst geopolitical uncertainties.

Middle East and Africa Oilfield Services Market  

Segmental Coverage

Middle East and Africa Oilfield Services Market – By Service

Based on service, Middle East and Africa Oilfield Services Market is divided into Drilling Services, Drilling & Completion Fluids, Formation Evaluation, Completion & Production Services, and Drilling Waste Management Services segments. The drilling services segment is the largest service in the Middle East and Africa Oilfield Services Market. The segment encompasses a wide array of activities crucial for oil extraction, such as exploration drilling, directional drilling, and wellbore construction. The region's burgeoning oil and gas industry, coupled with increasing exploration and production activities, has propelled the demand for drilling services. Moreover, technological advancements in drilling techniques and equipment contribute to the sector's growth, making it pivotal in driving the oilfield services market forward in the region.

Middle East and Africa Oilfield Services Market – By Type

Based on type, Middle East and Africa Oilfield Services Market is divided into Equipment Rental, Field Operation, Analytical, and Consulting Services segments. The equipment rental is the highest segment to the Middle East and Africa Oilfield Services Market by type. The segment dominates due to the region's extensive oil and gas operations, necessitating a high demand for specialized equipment. Key players like Schlumberger, Halliburton, and Baker Hughes hold significant market share, providing a wide range of rental equipment such as drilling rigs, well-completion tools, and production equipment. The segment's growth is also fueled by increasing exploration and production activities in emerging markets like Africa, coupled with the need for cost-effective solutions amidst fluctuating oil prices.

Middle East and Africa Oilfield Services Market – By Application

Based on application, Middle East and Africa Oilfield Services Market is split into Onshore and Offshore segments. The onshore drilling activities thrive due to vast reserves, with Saudi Aramco and ADNOC leading the charge. Offshore exploration is expanding, with players like Schlumberger and Halliburton providing crucial services. Recent geopolitical stability in regions like the Gulf Cooperation Council bolsters investments, propelling market expansion. Notably, technological advancements, like AI-driven drilling, enhance efficiency, attracting major players and increasing market competitiveness. Overall, the market segment showcases resilience amid evolving industry landscapes, offering lucrative opportunities for stakeholders.

Middle East and Africa Oilfield Services Market – By Country

Based on country, Middle East and Africa Oilfield Services Market is divided into Saudi Arabia, UAE, Qatar, Kuwait, South Africa, Nigeria, Algeria, and Rest of MEA segments. Saudi Arabia dominates the market share, driven by its substantial oil reserves and ongoing investment in oilfield exploration and production. UAE follows suit with significant investments in offshore projects, with companies such as ADNOC spearheading initiatives. Qatar's segment sees growth due to its ambitious North Field Expansion project, attracting players like Baker Hughes. Kuwait, Nigeria, and South Africa witness steady growth, while Algeria's segment is bolstered by partnerships with international firms amid increasing exploration activities.

Competitive Landscape

Major players in the Middle east and Africa Oilfield Services Market include Anton Oilfield Services (Group) Ltd, Baker Hughes Co., Denholm Oilfield Services, Middle East Oilfield Services, Oilserv Limited, Schlumberger Limited, Swire Oilfield Services Ltd, Weatherford International PLC, Transocean Ltd, and Nabors Industries, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

• In 2020 - DOF Subsea announced new contracts with Petrobras, worth USD 110 million the contract includes three vessels from the DOF fleet to be mobilized to perform different inspectional tasks, such as flexible pipelines, risers, and subsea equipment in Campos, Santos, and other continents.

Scope of the Report

By Service

• Drilling Services

• Drilling & Completion Fluids

• Formation Evaluation

• Completion & Production Services

• Drilling Waste Management Services

By Type

• Equipment Rental

• Field Operation

• Analytical

• Consulting Services

By Application

• Onshore

• Offshore

By Country

• Saudi Arabia

• UAE

• Qatar

• Kuwait

• South Africa

• Nigeria

• Algeria

• Rest of MEA

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3.  Middle East and Africa Oilfield Services Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. Rising investments in the upstream sector
         2. Increasing production capacity
         3. Rising investments in the oil & gas industry
         4. Growing demands for Enhanced oil recovery
      2. Restraints
         1. Fluctuations in oil prices
         2. Growing environmental concerns
         3. Stringent approval process
      3. Opportunities
         1. Increasing adoption of new technologies
         2. Increasing R&D investment in new oilfield
      4. Challenges
         1. Lack of skilled workforce
         2. Cybersecurity threats
         3. Limited awareness and education
   3. Technological Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. Middle East and Africa Oilfield Services Market: Marketing Strategies
5. Middle East and Africa Oilfield Services Market Overview
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share and Forecast
      1. By Service
         1. Drilling Services
         2. Drilling & Completion Fluids
         3. Formation Evaluation
         4. Completion & Production Services
         5. Drilling Waste Management Services
         6. Others
      2. By Type
         1. Equipment Rental
         2. Field Operation
         3. Analytical
         4. Consulting Services
      3. By Application
         1. Onshore
         2. Offshore
      4. By Country
         1. Saudi Arabia
         2. UAE
         3. Qatar
         4. Kuwait
         5. South Africa
         6. Nigeria
         7. Algeria
         8. Rest of MEA
6. Saudi Arabia Oilfield Services Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Service
      2. By Type
      3. By Application
7. UAE Oilfield Services Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Service
      2. By Type
      3. By Application
8. Qatar Oilfield Services Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Service
      2. By Type
      3. By Application
9. Kuwait Oilfield Services Market
   1. Market Size & Forecast, 2019–2030
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Service
      2. By Type
      3. By Application
10. South Africa Oilfield Services Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Service
       2. By Type
       3. By Application
11. Nigeria Oilfield Services Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Service
       2. By Type
       3. By Application
12. Algeria Oilfield Services Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Service
       2. By Type
       3. By Application
13. Rest of MEA Oilfield Services Market
    1. Market Size & Forecast, 2019–2030
       1. By Value (USD Billion)
    2. Market Share & Forecast
       1. By Service
       2. By Type
       3. By Application
14. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Middle East and Africa Oilfield Services Market Share Analysis, 2023
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
15. Impact of Escalating Geopolitical Tension in Middle East and Africa Oilfield Services Market
16. Company Profiles (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT Analysis)
    1. Anton Oilfield Services (Group) Ltd
    2. Baker Hughes Co.
    3. Denholm Oilfield Services
    4. Middle East Oilfield Services
    5. Oilserv Limited
    6. Schlumberger Limited
    7. Swire Oilfield Services Ltd
    8. Weatherford International PLC
    9. Transocean Ltd
    10. Nabors Industries, Inc
    11. Other Prominent Players
17. Key Strategic Recommendations
18. Research Methodology
    1.    Qualitative Research
       1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
       1.  Secondary Research
       2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

List of Figures

Figure 1       Middle East & Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 2       Middle East & Africa Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 3       Middle East & Africa Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 4       Middle East & Africa Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 5       Middle East & Africa Oilfield Services Market Share, By Country, By Value (USD Billion), 2019–2030

Figure 6       Saudi Arabia Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 7       Saudi Arabia Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 8       Saudi Arabia Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 9       Saudi Arabia Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 10     UAE Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 11     UAE Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 12     UAE Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 13     UAE Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 14     Qatar Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 15     Qatar Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 16     Qatar Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 17     Qatar Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 18     Kuwait Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 19     Kuwait Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 20     Kuwait Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 21     Kuwait Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 22     South Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 23     South Africa Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 24     South Africa Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 25     South Africa Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 26     Nigeria Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 27     Nigeria Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 28     Nigeria Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 29     Nigeria Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 30     Algeria Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 31     Algeria Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 32     Algeria Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 33     Algeria Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

Figure 34     Rest of Middle East & Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Figure 35     Rest of Middle East & Africa Oilfield Services Market Share, By Service, By Value (USD Billion), 2019–2030

Figure 36     Rest of Middle East & Africa Oilfield Services Market Share, By Type, By Value (USD Billion), 2019–2030

Figure 37     Rest of Middle East & Africa Oilfield Services Market Share, By Application, By Value (USD Billion), 2019–2030

List of Tables

Table 1        Middle East & Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 2        Middle East & Africa Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 3        Middle East & Africa Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 4 Middle East & Africa Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 5 Middle East & Africa Oilfield Services Market Size, By Country, By Value (USD Billion), 2019–2030

Table 6 Saudi Arabia Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 7       Saudi Arabia Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 8         Saudi Arabia Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 9 Saudi Arabia Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 10      UAE Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 11      UAE Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 12      UAE Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 13      UAE Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 14      Qatar Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 15      Qatar Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 16      Qatar Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 17      Qatar Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 18      Kuwait Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 19      Kuwait Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 20      Kuwait Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 21      Kuwait Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 22      South Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 23      South Africa Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 24      South Africa Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 25      South Africa Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 26      Nigeria Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 27      Nigeria Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 28      Nigeria Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 29      Nigeria Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 30      Algeria Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 31      Algeria Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 32      Algeria Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 33      Algeria Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 34      Rest of Middle East & Africa Oilfield Services Market Size, By Value (USD Billion), 2019–2030

Table 35      Rest of Middle East & Africa Oilfield Services Market Size, By Service, By Value (USD Billion), 2019–2030

Table 36      Rest of Middle East & Africa Oilfield Services Market Size, By Type, By Value (USD Billion), 2019–2030

Table 37      Rest of Middle East & Africa Oilfield Services Market Size, By Application, By Value (USD Billion), 2019–2030

Table 38      Anton Oilfield Services (Group) Ltd Company Overview    

Table 39      Anton Oilfield Services (Group) Ltd Company Overview    

Table 40      Baker Hughes Co. Company Overview

Table 41      Baker Hughes Co. Company Overview

Table 42      Denholm Oilfield Services Company Overview        

Table 43      Denholm Oilfield Services Company Overview        

Table 44      Middle East Oilfield Services Company Overview     

Table 45      Middle East Oilfield Services Company Overview     

Table 46      Oilserv Limited Company Overview     

Table 47      Oilserv Limited Company Overview     

Table 48      Schlumberger Limited Company Overview    

Table 49      Schlumberger Limited Company Overview    

Table 50      Swire Oilfield Services Ltd Company Overview        

Table 51      Swire Oilfield Services Ltd Company Overview        

Table 52      Weatherford International PLC Company Overview 

Table 53      Weatherford International PLC Company Overview 

Table 54      Transocean Ltd Company Overview    

Table 55      Transocean Ltd Company Overview    

Table 56      Nabors Industries, Inc. Company Overview