BACKGROUND

The maintenance and modification (M&M) market at the Norwegian Continental Shelf (NCS) is a multi-billion market and represents one of the largest segments within the Norwegian oil service market. An oil service company with several business units, M&M being the largest, had recently won several large contracts on the NCS and was planning global expansion of several of its business units. The company needed assistance in preparing material for analysts and a road show for an initial public offering (IPO).

APPROACH

By leveraging existing research products (Offshore Market Report Norway) and databases (UCube), Rystad Energy identified key value drivers through additional market research and interviews with both service providers and customers (oil companies). For the largest business segments Rystad Energy created bottom-up models consisting of named projects in the company’s current and future key regions.

RESULT

Through several workshops with the company and its business development department, Rystad Energy prepared a final presentation for analysts of different investment banks to use for IPO documentation.

The Largest Operator Dominates the M&M Market, with Decreasing Market Shares in an Increasing Market as New Installations Enter NCS