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Iran Oilfield Services Market By Application, By Type, Competition Forecast & Opportunities, 2012 – 2022
TechSci Research
Ta b l e o f C o n t e n t s
2
S. No. Contents
1. Product Overview
2. Research Methodology
3. Analyst View
4. Industry Structure
5. Value Chain of Oilfield Services
6. E&P Cash Flow Life Cycle
7. Global Oilfield Services Market Overview
8. Iran Oil & Gas Scenario
8.1. Iran Crude Oil Proved Reserves
8.2. Iran Natural Gas Proved Reserves
8.3. Iran Crude Oil Production & Consumption Trend
8.4. Iran Natural Gas Production & Consumption Trend
9. Iran Oilfield Services Market Outlook
9.1. Iran Oilfield Services Market Overview
9.2. Market Size & Forecast
9.2.1. By Value
9.3. Market Share & Forecast
9.3.1. By Application
9.3.2. By Type
9.3.3. By Region
9.3.4. By Company
9.4. Iran Oilfield Services Market Attractiveness Index
9.4.1. By Application
TechSci Research
Ta b l e o f C o n t e n t s
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S. No. Contents
9.4.2. By Region
10. Iran Oilfield Services Market Outlook, By Application
10.1. Iran Onshore Oilfield Services Market Size & Forecast
10.1.1. By Value
10.2. Iran Offshore Oilfield Services Market Size & Forecast
10.2.1. By Value
11. Iran Oilfield Services Market Outlook, By Type
11.1. Iran Drilling Oilfield Services Market Size & Forecast
11.1.1. By Value
11.2. Iran Mud Engineering Oilfield Services Market Size & Forecast
11.2.1. By Value
11.3. Iran Wireline Oilfield Services Market Size & Forecast
11.3.1. By Value
11.4. Iran Pressure Pumping Oilfield Services Market Size & Forecast
11.4.1. By Value
11.5. Iran Cementing Oilfield Services Market Size & Forecast
11.5.1. By Value
11.6. Iran Oil Country Tubular Goods Services Market Size & Forecast
11.6.1. By Value
11.7. Iran Well Intervention Oilfield Services Market Size & Forecast
11.7.1. By Value
11.8. Iran Coiled Tubing Oilfield Services Market Size & Forecast
11.8.1. By Value
TechSci Research
Ta b l e o f C o n t e n t s
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S. No. Contents
11.9. Iran Completion Equipment & Services Market Size & Forecast
11.9.1. By Value
11.10. Iran Mud Logging Oilfield Services Market Size & Forecast
11.10.1. By Value
11.11. Iran Drilling Waste Management Oilfield Services Market Size & Forecast
11.11.1. By Value
12. Technology Development
13. Market Dynamics
13.1. Drivers
13.2. Challenges
14. Market Trends & Developments
14.1. Rising Investments in Research & Development
14.2. Increasing Production from Offshore Fields
14.3. Low Production Cost in Iran
14.4. Growing Investments in Offshore Exploration & Production
14.5. Implementation of Stringent Regulations for E&P Activities
15. Pricing Analysis
15.1. Crude Oil Price Forecast
15.2. Natural Gas Price Forecast
16. Policy & Regulatory Landscape
17. Iran Economic Profile
18. Competitive Landscape
TechSci Research
Ta b l e o f C o n t e n t s
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S. No. Contents
18.1. Competition Matrix
18.2. Company Profiles
18.2.1. National Iranian Drilling Company
18.2.2. Well Services Of Iran (Schlumberger Methods)
18.2.3. Mehran Engineering & Well Services
18.2.4. Petro Danial Kish Company
18.2.5. Sea Land Engineering and Well Services
18.2.6. Great Wall Drilling Company Limited
18.2.7. Overseas Technical Services Kish (LLC)
18.2.8. Dana Energy Company
18.2.9. Wide Pars Energy-Gostar Drilling and Exploration Company (PEDEX)
18.2.10. CNPC Bohai Drilling Engineering Company Limited
19. Strategic Recommendations
20. About Us & Disclaimer
TechSci Research
P r o d u c t O v e r v i e w
Companies carrying out Oil & Gas Exploration & Production (E&P) activities are mainly divided into three
segments:
1. Operators
2. EPC (Engineering, Procurement, & Construction) Companies
3. Oilfield Service Providers
There are different types of services offered by service companies across the value chain of oil & gas sector.
Depending on the type of service provided by the companies, the broader classification of services are as follows:
i. Drilling Services (Directional drilling + Hydro fracturing services)
ii. Pressure Pumping Services
iii. Oil Country Tubular Goods (OCTG)
iv. Wireline Services
v. Well Intervention Services
vi. Completion Equipment & Services
vii. Drilling Waste Management Services
viii. Coiled Tubing Services
ix. Cementing Services
x. Mud Engineering Services
xi. Mud Logging Services
6
TechSci Research
P r o d u c t O v e r v i e w
➢ Drilling Services: This service broadly comprises two sub-services i.e. directional drilling and hydro
fracturing services.
i. Directional Drilling: Directional drilling is an important part in the drilling process that involves drilling
the same well at multiple angles, which helps in minimizing the environmental impacts as well as in
improving reach for maximizing oil and gas production.
ii. Hydro Fracturing Services: It is the process of fracturing by injecting special kind of fluid called frac
fluid under high pressure in order to break the rock. It is performed on both open & closed hole
cased-well perforation.
➢ Pressure Pumping Services: This service plays a critical role as it increases the access to proven reserves
as well as the yield of reservoir. It is used where oil and gas exploration is very challenging and complex and
also in maturing wells. Due to these qualities, pressure pumping services have led to the invention of
enhanced oil recovery operation.
➢ Oil Country Tubular Goods (OCTG): This includes piping products such as drill pipe, casing pipe and tubing,
which are used in the oil and gas industry as per the specific applications. It also offers important features of
corrosion resistance in case of sour service conditions, especially for casing and tubing.
➢ Wireline Services: It is a cabling technology, which is used to lower the tools inside a wellbore and transmit
the condition of the wellbore in the form of wireline logs. This service is used by various operators across the
world to lower the equipment inside the wells for the measurement of well intervention, reservoir evaluation
and pipe recovery. 7
TechSci Research
P r o d u c t O v e r v i e w
➢ Drilling & Completion Fluids: Completion fluids are a special category of fluids having characteristics such
as density, flow and pH content similar to that of the well in which they are used to limit the site corrosion and
damage to the site. Drilling fluids help in the drilling of boreholes which prevent formation fluids from entering
into the wellbore, keeping the drilling well bit cool and clean.
➢ Well Intervention Services: It is done for the maintenance, repair or any replacement during the productive
life of an oil and gas well. This service is broadly classified into two categories i.e. light intervention and heavy
intervention. During the light intervention technique, tools and sensors are inserted into the well, where any
change or adjustment can be made to the equipment such as valves and pumps, in order to gather data such
as downhole pressure, temperature, flow data, etc.
➢ Completion Equipment & Services: Completion is preparing a well ready for drilling. The main purpose is to
connect the reservoir to the surface so that fluids can be produced or injected into the well by providing a
conduit. The conduit provided also helps in measuring the changes in the flow rate of fluid and pressure which
would be needed to run the well.
➢ Drilling Waste Management Services: Oil & gas drilling produces mainly three types of waste i.e. used
drilling fluids, drilling cuttings and flow back fracturing sands. Drilling fluid, which is also called as drilling mud,
is used to facilitate the drilling process as it is circulated through the drill bit to lubricate and cool the bit. It
controls the pressure of the formation fluid, which helps in carrying the drilling cuttings to the surface where it
gets separated from mud.8
TechSci Research
P r o d u c t O v e r v i e w
➢ Coiled Tubing Services: Coiled tubing is a time and cost-effective solution for well intervention operations.
It does not require a workover rig as it is inserted into the well. Processes such as hydraulic & acid fracturing,
sand control & cementing operations are also done with the help of coiled tubing.
➢ Cementing Services: Under this service, a mixture of slurry of cement, cement additives and water is
pumped into the casing to critical points in the annulus and open a hone below the casing string for the
production of crude oil.
➢ Mud Engineering Services: It is commonly known as drilling mud. These are heavy, viscous fluid mixtures
prepared from the mixing of base fluids, weighing materials and additives. Drilling muds are used in oil and
gas drilling operations to maintain the borehole stability and carry drilling cuttings up to the surface.
• Fluid technologists are using specially engineered chemistries to create advanced high-performance water-
based drilling fluids that are at par in performance with other fluids and that are handled carefully from start
to finish and disposed of in safe and environmentally acceptable manners.
➢ Mud Logging Services: Mud logging is a method of creating detailed well log of a borehole by studying the
drill cuttings obtained at the surface. The main purpose is to identify all hydrocarbon indications from the rock
samples and from the oil and gas entrained in the drilling mud.
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TechSci Research
P r o d u c t O v e r v i e w
Major Applications of Oilfield Services:
Source: TechSci Research
Type
Exploratory &
Appraisal Well
Drilling
Development
Well Drilling
Completion &
Production
Post Drilling
Phase
Drilling Services (Horizontal +
Directional drilling + Hydro
fracturing services)✓ ✓ X X
Pressure Pumping Services X ✓ ✓ ✓
OCTG ✓ ✓ ✓ X
Wireline Services ✓ ✓ X X
Well Intervention Services
/Stimulation X X ✓ ✓
Completion Equipment &
Services (One time cost)✓ X ✓ X
Drilling Waste Management
Services✓ ✓ ✓ X
Coiled Tubing Services ✓ ✓ X X
Mud engineering ✓ ✓ ✓ X
Mud logging ✓ ✓ X X
Cementing X ✓ X X
10
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TechSci Research
R e s e a r c h M e t h o d o l o g y
In-depth secondary research was conducted todetermine the market size and market share ofIran oilfield services market.
Market Profiling
In order to conduct interviews of industry
experts, TechSci Research formulated a detailed
questionnaire.
A list of industry players, operators, EPC
providers, service providers and associations was
prepared.
Developing List Of RespondentsDeveloping List Of RespondentsDeveloping List of Respondents
TechSci Research conducted interviews with
industry experts and players for data collection
and verification.
Data Collection
Data obtained as a result of primary andsecondary research was validated throughrigorous triangulation.
Data was scrutinized using MS-Excel and statistical
tools such as Time Series analysis, etc., to obtain
qualitative and quantitative insights about the Iran
oilfield services market.
Data Analysis
Data Collection
Data Filter& Analysis
Research &Intelligence
ActionableInsights
BusinessSolution
A
C
B
Primary Research
Company Analysis
Desk Research
Identifying Key Opinion
Leaders
Questionnaire Design
In-depth Interviews
Market Participants
Key Challenges
Growth Drivers
Recent
Developments
Market Dynamics
Government
Policies
Final Conclusion
TechSci Internal Database
Interviews with Key Opinion Leaders
Company Website Company Annual
Reports White Paper Study
Financial Reports Investor Presentations Regulatory Body,
Associations, etc.
Secondary ResearchPrimary Research
Data Validation
Formulating Questionnaire
12
TechSci Research
Iran Oilfield
Services
Market
Optimistic
Likely
D1
D2
D3
Short term Medium term Long term
D1
D2
D3
Short term Medium term Long term
2012
2013
2014
2015
2016
2017E
2018F
2019F
2020F
2021F
2022F
XX% + 4% CAGR
• Qualitative to quantitative conversion
• Assigning weightage to drivers
• Statistical evaluation• Developing the actual
forecast based on both
the cases
High MediumDegree of impact
• Market indicators expected to
outperform during the
forecast period• Market expected
to gain traction
with increasing impact of drivers
• Market indicators expected to
perform at average level
during the forecast period
• Market expected
to slow down with decreasing
impact of drivers
Forecasting
Methodology
XX% CAGR
XX% + 2% CAGR
Low
Conservative
2012
2013
2014
2015
2016
2017E
2018F
2019F
2020F
2021F
2022F
XX% + 4% CAGR
R e s e a r c h M e t h o d o l o g y
TechSci Research
I n d u s t r y B r i e f
13
Iran Oilfield Services Market to Grow at 11.6% CAGR until 2022
According to TechSci Research report “Iran Oilfield Services Market By Application, By
Type, Competition Forecast & Opportunities, 2012 – 2022”, oilfield services market in Iranis forecast to grow at a CAGR of 11.6% during 2017-2022. Growth in the market is anticipatedon account of removal of sanctions, which is expected to result in boosting adoption of foreigntechnology, low-cost of production per barrel in Iran compared to western countries andallotment of new offshore oil & gas fields under new Iran Petroleum Contract. Moreover, the
government aims to attract investments worth $ 185 billion into oil & gas sector from foreigninvestors during 2016-2020, which is expected to result in growth opportunities for oilfieldservice providers in the country during forecast period.
On the basis of application, Iran oilfield services market has been broadly segmented into two
categories, namely, offshore and onshore. Among these categories, onshore oilfield servicesheld the largest market share in 2016, and the segment is expected to maintain its marketdominance over the coming years as well, due to increasing investment opportunities in onshoreoilfield services, especially in Khuzestan (Masjid Suleiman, West Karoon, Aghajari and Marun).However, during the forecast period, production from most of the oil & gas fields in offshore
regions is anticipated to increase, thereby making offshore oilfield services the fastest growingapplication segment of Iran oilfield services in the future.
“With the uplifting of sanctions in the mid of January 2016, Iran is undergoing a major positivetransformation, which is leading to developmental activities being undertaken in oil & gas sector.
Access to global market for crude oil exports, competition between local and foreign players andincreasing investments in exploration & production activities are anticipated to fuel growth inthe oilfield services market in Iran during the next five years,” said Mr. Karan Chechi, ResearchDirector with TechSci Research, a research based global management consulting firm.
TechSci Research
S a m p l e D a t a - S n a p s h o t
14
Figure 1: Global Crude Oil Production (Thousand Barrels Per
Day), 2010-2016
80000.0
81000.0
82000.0
83000.0
84000.0
85000.0
86000.0
2010 2011 2012 2013 2014 2015 2016
Figure 3: Global Average Annual Rig Count, 2000-2017* (Numbers)
100 110 120 130 140 150 160 170 180 190 200 210 220 230 240 250 260 270
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017*
90 95 100 105 110 115 120 125 130 135 140 145 150 155 160 165 170
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Figure 4: Iran Total Proved Crude Oil Reserves, 2000-2016 (Thousand
Million Barrels)CAGR 2000-2016By Volume: X%
15.00%
15.00%
15.00%
15.00%
15.00%
25.00%
Natural Gas
Oil
Hydro Electric
Coal
Nuclear Energy
Renewables
Figure 8: Iran Primary Energy Mix, By Fuel Type, 2016 (%)
10 20 30 40 50 60 70 80 90 100 110 120 130 140 150 160 170
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Figure 12: Iran Production Wells (Excluding Shut-in Wells), 2000-2016 (Number)
4500
5000
5500
6000
6500
7000
Canada
Iraq
Iran
Russian Federation
Saudi Arabia
US
Figure 25: Top Six Crude Oil Production Countries,
By Volume, 2016 (Thousand Barrels per day)
Source: XXXXXNote: These are dummy figures; please purchase our report for actual data
TechSci Research
R e p o r t O r d e r i n g
15
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Report Name: Iran Oilfield Services Market By Application, By Type,
Competition Forecast & Opportunities, 2012 – 2022
TechSci Research
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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that
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