Drilling more at lower prices
Russian oilfield services market conditions and trends 2016
We are pleased to announce the release of this year’s updated version of the 2016 Russian Oilfield Service Market: Current State and Trends report. The April 2017 issue offers an overview of three key segments of the Russian oilfield service market:
- Well servicing and workover
According to Deloitte’s analysts, oil prices and reduced output due to the quota agreement between OPEC and non-OPEC countries will be the key drivers of the oilfield service volumes in 2017.
The Oil and Gas Services group at Deloitte CIS has prepared an extended report—2016 Russian oilfield service market: current state and trends. The report now includes a geophysics section, in addition to the drilling and well service/workover sections.
Over the previous year, the geophysics sector saw a decrease in government and investor financing for geophysical exploration, a drop in spending on offshore projects and a significant contraction on the seismic survey market.
We are delighted to present our 2016 Russian Oilfield Services Market Conditions and Trends survey. Prepared by Deloitte CIS Oil & Gas group professionals, the report spotlights the drilling and well service/workover sectors.
The survey analyses the prevailing oil service market trends and changes in the total production and exploration drilling metreage by region.
In addition, the report provides an insight into the supply and demand structure in the drilling services market, well construction and workover capex trends, as well as M&A and looming layoffs due to hardships faced by the industry.