According to Rystad Energy’s latest estimate, GE may become the third largest oilfield service provider in 2016, if the company buys the planned divestments by Halliburton and Baker Hughes. In addition, GE is more sheltered amid the downturn in oil prices due to exposure to equipment and more resilient product lines. Overall, GE’s upstream revenue is expected to gain by 6% this year from 2014’s level, while all other is losing market share.
*Cameron revenues for 2016 fully incorporated; **Assumes the acquisition of Baker Hughes is completed and divested product lines are acquired by GE
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Audun Martinsen, VP Oilfield Service Research
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About Rystad Energy
Rystad Energy is an independent oil and gas consulting services and business intelligence data firm offering global databases, strategy consulting and research products. Rystad Energy’s headquarters are located in Oslo, Norway, with additional research teams in India. Further presence has been established in Norway (Stavanger), the UK (London), USA (New York & Houston), Russia (Moscow), Brazil (Rio de Janeiro), Africa as well as South East Asia.