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"Oil and gas projects worth $110 billion are coming off the backburner" The oil and gas industry has vastly accelerated the pace of approving investments for new projects over the past 18 months. New facilities worth more than $110 billion have been approved for development since the beginning of 2017, versus only $50 billion in 2016. Read More
"Five fundamental reasons why OPEC should agree on an output hike" During the ninth meeting of the Joint Ministerial Monitoring Committee last night, the OPEC Heads of Delegation reached a preliminary agreement to increase output from the group by a nominal 1 million barrels per day. Read More
"Borr Drilling’s positioning for upturn aiding the recovery in jackup market" Analysis by Rystad Energy shows that Borr Drilling would emerge with the largest and youngest jack up fleet if rigs over 35 years were retired in the short term. Marketed utilization rates would also rebound to 89% by 2020, surpassing rates seen during the heydays before the downturn. Read More
"The United States again holds more recoverable oil than Saudi Arabia" The United States has again surpassed Saudi Arabia as the world’s largest holder of recoverable oil, according to research and data expert Rystad Energy. The US has added close to 50 billion barrels over the last year and now holds an estimated 310 billion barrels of recoverable oil with current technologies, equal to 79 years of US oil production at present output levels. Read More
"Rystad Energy extends its Shale Intel report with water management and chemical market insight" Rystad Energy, the energy knowledge house, today announces the expansion of its recently launched Shale Intel report with two new components covering the US water management and stimulation chemicals markets. Read More
"Johan Castberg: Norway’s new Barents Sea cash machine wins approval" Today’s formal approval by the Norwegian parliament of Equinor’s plan to develop the Johan Castberg field in the Barents Sea signals the start of an ambitious project that is poised to generate some NOK 264 billion ($33 billion) in profits, according to calculations by energy research and business intelligence company Rystad Energy. The vast majority of these profits will go to the Norwegian government in the form of tax revenues. Read More
"India's oilfield service market catalyzed by deepwater push" Reliance Industries’ recent move to invite bids for provision of an FPSO for its MJ gas and condensate field stands as the latest example of deepwater projects that are fueling a revival of activity in India, a Rystad Energy study reflects. Read More
"Drilling equipment bellwether NOV could strengthen its position by acquiring GustoMSC" An acquisition of Dutch engineering house GustoMSC by US-based drilling systems provider National Oilwell Varco (NOV) – as alleged today in an unconfirmed report by industry trade journal Upstream – would represent a good match and would consolidate NOV’s leading position in the market, according energy consultancy and data provider Rystad Energy. Read More
Report scope: 100 offshore project commitments in 2018 drive market growth of 8% towards 2021: In this paper, we assess the offshore market and what drives growth in sanctioning activity as well as dive into details for the core market segments.
Information in this paper is directly taken from the monthly Oilfield Service Report and Oilfield Service Project Factsheets, components of Rystad Energy’s Oilfield Service Analytics.
The full version of the report includes analysis of global oilfield service trends with deep dives into 55+ service segments and focus topics on service price indexes, market shares, FID and cost benchmarking.
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