Industry Analysis & Industry Trends
The Oil and Gas Field Services industry has grown strongly in the past five years and is expected to continue to do so in the next five. The rapid increase in industry revenue is being underpinned by high demand from the Oil and Gas Extraction industry, where an unprecedented number of oil and gas projects are underway. In the five years through 2013-14, industry revenue is forecast to grow at a compound annual rate of 23.4%. In 2013-14, forecast growth of 18.9% will take industry revenue to $5.8 billion.
Demand for industry services is contingent on activity in the upstream Petroleum Exploration industry and the Oil and Gas Extraction industry. Exploration is important, because it identifies resources that are necessary for future sector growth... purchase to read more
Industry Report - Industry Products Chapter
The Oil and Gas Field Services industry provides a range of services to the oil and gas sector. These can be generally split into site preparation, construction services, plant management and other services.
Plant management services
Plant management is estimated to be the industry's largest service segment, accounting for 39.0% of revenue. Services include maintenance and repair of on- and off-site production equipment and facilities, and compliance testing to ensure operations run efficiently. This segment also provides planning, scheduling, breakdown response, scheduled preventative measures and project cost management. Plant management services are ongoing services needed throughout the life of any project and are therefore the most stable source of revenue... purchase to read more