Iraq Oilfield and Drilling Services Market by Region (North and South Iraq), by Oilfield Service Type (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning) - Outlook to 2022

Products Id :- KR569
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Pages: 87
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December 2017
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Region: Middle East
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Executive Summary

The report titled "Iraq Oilfield and Drilling Services Market by Region (North and South Iraq), by Oilfield Service Type (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning) - Outlook to 2022" provides a comprehensive analysis of the oilfield services market in Iraq. The report covers aspects such as overall market size, segmentation by region, type of oilfield services along with competition analysis of major players including Schlumberger, Halliburton, Baker Hughes, Weatherford, Zpec, COSL, Gigamesh, Iraqi drilling company, Genel. The study also includes strength and weakness of major players and government regulations, latest trends and development in the sector. The future analysis of oilfield services market by region has been discussed along with analyst recommendations.

Market Size: In 2012, the market posted positive growth rate over the previous year and the revenue was estimated at around USD ~ million. The Iraq’s drilling industry has showcased double digit growth reaching USD ~ million in 2013 despite the fact that Iraq’s economy continues to be affected by the ongoing civil unrest and terror activities. Drilling industry reported decline in revenue in 2015 to USD ~ million which further continued in 2016 to revenue of USD ~ million. It registered a minor recovery in 2017 with a growth of USD ~ million.

Number of Wells: The number of completed wells is an important indicator of overall size of the drilling industry, since well completion is the process of preparing an oil or gas well ready for production. The number of completed wells was highest in 2013 and minimum in 2016. Number of producing wells in Iraq drilling stood nearly at ~ in 2016, as compared to ~ in 2012 growing at four year CAGR of ~% over the period. The number of active rigs declined to ~ in 2016 as compared to a figure of ~ in 2012.

Market Segmentation: Drilling services business in North of Iraq is limited due to problem of ISIS and separatist movement of independent Kurdistan. Even though production of oil was not halted, it declined significantly. It has been estimated that revenue from drilling new wells and providing other drilling related services generated revenue of USD ~ million (Provisional Estimates) in 2017. Southern Iraq was the major producer of oil in Iraq and accounted for majority of drilling related activity. Drilling and related services generated an estimated USD ~ million in 2017.

Iraq Oilfield Services Market

Market Size: Revenue from oilfield service increased from USD ~ million in 2012 to USD ~ million in 2017. Revenue recognition was mainly done by major oilfield services companies which include Schlumberger, Halliburton, and Baker Hughes. Many Chinese companies have also made market entry in Iraq. The market for oilfield services registered constant increase in revenue in the period 2014-2017. The revenue generation was mainly attributed to increase in oil production and maintenance of wells and rigs which have already aged and need significant investment in developing the infrastructure.

Market Segmentation: Northern Iraq includes the oilfield in Kurdistan region and in 2017; it has been marred with conflicts from ISIS and separatists for independent Kurdistan. Oilfield services generated estimated revenue of USD ~ million in 2017. Majority of the revenue was from operation maintenance and production related services. Nearly ~ million barrel of crude was pumped every day which required continuous maintenance. Aging infrastructure for oil production was other reason for high demand of oilfield services. Southern Iraq generated estimated revenue of USD ~ million. Production related oilfield service was the highest as production was high in 2017.

Engineering fabrication and installation contributed ~% of the revenue worth USD ~ million from oilfield services industry. Operation related services registered revenue of USD ~ million in 2017. Exploration reservoir and seismic services accounted for a share of ~% worth USD ~ million in the total revenue of oilfield services industry in Iraq, as recorded in 2017.

Competition among Major Players
Oilfield services in Iraq were largely dominated by Halliburton with an estimated market share of ~% of the oilfield services industry with majority of the projects under execution are in south of Iraq. Schlumberger was the second largest player with an estimated share of ~%. It has presence in both north and south of Iraq with estimated revenue seeing sudden jump in 2017 due to completion of IDS project in the third quarter. Minor contribution was made from Weatherford and Baker Hughes accounting for ~% of the revenue. Other oilfield services companies contributed remaining ~% of the revenue. These include COSL, ZPEC, Gilgamesh, Iraqi Drilling Company, and many others.

Future Outlook

Oilfield Services Market: The revenue from oil field services is expected to increase from USD ~ billion in 2018 to USD ~ billion in 2022. The government of Iraq captured the Kurdistan region from rebels and this has negative impact on oil production and exploration services in the short run. Once the situation stabilizes, it is expected that oil production will resume to normal. It is expected to affect the production by ~ bpd from Kurdistan region. The Oil Ministry invited bids to develop three fields in southeastern Maysan province, Dujail, Kumait and Rifai.
Drilling Services Market: It is expected that drilling will pick up much higher growth in northern Iraq as political situation improve due to ouster of ISIS. The market is expected to reach an estimated USD ~ million by 2022 registering a five year CAGR of ~% in 2017-2022.

Key Topics Covered in the Report

Major Oilfields in Iraq
Value Chain in Iraq Oilfield Services Market
Market Size of Iraq Oilfield Services Market by Revenue
Market Segmentation of Iraq Oilfield Services Market by Type and by Region
Market Size of Iraq Drilling Services by Revenue, by Number of Completed Wells, by Number of Active Rigs
Market Segmentation of Iraq Drilling Services Market by Region
Trends and developments in Iraq Oilfield Services Market
Government Rules and Regulations
Strengths and Weaknesses of Major Companies in Oilfield Services Market
Cause Effect Relationship
Future Outlook to Iraq Oilfield Services Market and Iraq Drilling Services Market.
Analyst Recommendation
Macroeconomic Factors Affecting Iraq Oilfield Services Market

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1. Executive Summary
Country Overview
Iraq Drilling Industry
Iraq Oilfield Services Market
Trends and Developments
Competition Among Major Players
Future Outlook
2. Research Methodology
Market Definition
Abbreviations
Market Size and Modeling
Consolidated Research Approach
Market Size: On the Basis of Revenue
Variabes Dependent and Independent
Multi Factor Based Sensitivity Model
Limitations
Final Conclusion
3. Value Chain
4. Major Oilfields in Iraq
5. Iraq Drilling Services Industry
5.1. Introduction
5.2. Iraq Drilling Services Industry Attractiveness
5.3. Iraq Drilling Services Industry Market Size, 2012-2017
5.4. By Number of Completed Wells, 2012-2016
5.5. By Number of Producing Wells2012-2016
5.6. By Number of Active Rigs, 2012-2016
5.7. Iraq Drilling Services Industry Segmentation by Region (Southern and Northern Iraq), 2012-2017
5.8. Iraq Drilling Services Industry Future Outlook 2018-2022
5.9. Iraq Drilling Services Industry Future Outlook by Region (South Iraq and North Iraq), 2018-2022
Southern Iraq
Northern Iraq
6. Iraq Oil Field Services Market
6.1. Introduction to Iraq Oilfield Services Industry
6.2. Iraq Oilfield Service Market, 2012-2017
6.3. By Region (South and North), 2012-2017
6.4. By Type of Services (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning), 2012-2017
6.5. Iraq Oilfield Services Market Future Outlook, 2018-2022
6.6. By Region (South Iraq and North Iraq), 2018-2022
6.7. By Type of Services (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning), 2022
7. Trends and Developments
7.1. Increased Participation of Foreign Players
7.2. Increased Oil Production, 2012-2017
7.3. Growing Traction Towards Integrated Oilfield Services
7.4. Threats from Domestic and Cross Border Conflicts
8. Government Rules and regulations (Hydrocarbon Law, Kurdistan Regional Government, Major Regulating and Oversight Bodies, Law Related to Ownership of Oil Reserves, Procedure to Grant Exploration and Production rights, Royalty Rates, Registration and Procedure for exploration and production activities, Taxes)
9. Company Profile of Major Oilfield Services Players
9.1. Schlumberger Group
9.2. Halliburton
9.3. Baker Hughes
9.4. Weatherford
9.5. Zpec
9.6. COSL
9.7. Strength and Weaknesses of Major Oilfield Services Company
10. Cause and Effect Relationship in Iraq Oilfield Services Market
11. Analyst Recommendation
12. Macroeconomic Factors
12.1. GDP, 2012-2022
12.2. Oil Exports Revenue, 2012-2022
12.3. Global Oil Prices, 2012-2022
12.4. Proven Oil Reserves, 2012-2022
Disclaimer
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Figure 3-1: Value Chain in Iraq Oilfield Service Industry
Figure 3-2: Iraq Oilfield Service Industry by Type of Companies
Figure 4-1: Map of Major Oilfields in Iraq
Figure 5-1: Iraq Drilling Services Market on the Basis of Revenue in USD Billion, 2012-2017
Figure 5-2: Iraq Drilling Market on the Basis of Number of Completed Wells, 2012-2016
Figure 5-3: Iraq Drilling Market on the Basis of Number of Producing Wells, 2012-2016
Figure 5-4: Iraq Drilling Market on the Basis of Number of Active Rigs, 2012-2016
Figure 5-5: Iraq Drilling Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in Percentage, 2012-2017
Figure 5-6: Iraq Drilling Services Market on the Basis of Revenue in USD Million, 2018-2022
Figure 5-7: Iraq Drilling Services Market Future Outlook Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in Percentage, 2018-2021
Figure 6-1: Iraq Oilfield Services Market on the Basis of Revenue in USD Million, 2012-2017
Figure 6-2: Iraq Oilfield Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in Percentage, 2012-2017
Figure 6-3: Iraq Oilfield Services Market Segmentation by Type of Services (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning) on the Basis of Revenue in Percentage, 2012-2017
Figure 6-4: Iraq Oilfield Services Market Future Outlook on the Basis of Revenue in USD Billion and Growth Rate in Percentage, 2018-2022
Figure 6-5: Iraq Oilfield Market Future Outlook Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in Percentage, 2018-2021
Figure 6-6: Iraq Oilfield Service Market Future Outlook Segmentation by Type of Services on the Basis of Revenue, 2022
Figure 7-1: Crude Oil Production In Iraq on the Basis of Million Barrels Per Day (Average), 2012-2017
Figure 9-1: Financial Performance (Global) of Schlumberger on the Basis of Revenue in USD Billion, 2012-2016
Figure 9-2: Financial Performance of Schlumberger in Middle East and Asia on the Basis of Revenue in USD Billion, 2012-2016
Figure 9-3: Financial Performance (Global) of Halliburton on the Basis of Revenue in USD Million, 2012-2016
Figure 9-4: Financial Performance (Middle East and Asia) of Halliburton on the Basis of Revenue from Completion and Production Services in USD Million, 2012-2015
Figure 9-5: Financial Performance (Middle East and Asia) of Halliburton on the Basis of Revenue from Drilling and Evaluation Services in USD Million, 2012-2015
Figure 9-6: Financial Performance (Global) of Baker Hughes on the Basis of Revenue in USD Million, 2012-2016
Figure 9-7: Financial Performance of Baker Hughes in Middle East and Asia on the Basis of Revenue in USD Million, 2012-2016
Figure 9-8: Financial Performance (Global) of Weatherford on the Basis of Revenue in USD Million, 2012-2016
Figure 9-9: Financial Performance of Weatherford from MENA Region on the Basis of Revenue in USD Million, 2012-2016
Figure 9-10: Integrated Project Management Service Offered by ZPEC, 2017
Figure 9-11: Financial Performance (Global) of COSL on the Basis of Revenue in USD Million, 2012-2016
Figure 9-12: Financial Performance (Region Including Iraq) of COSL on the Basis of Revenue in USD Million, 2012-2016
Figure 9-13: Market Share of Major Companies in Iraq Oilfield Services Companies on the Basis of Revenue in Percentage, 2017
Figure 12-1: GDP of Iraq on the Basis of Current Prices in USD Billion and Growth Rate in Percentage, 2012-2022
Figure 12-2: Oil Exports Revenue of Iraq in USD Billion and Growth Rate in Percentage, 2012-2022
Figure 12-3: Global Crude Oil Prices in International Market in USD, 2012-2022
Figure 12-4: Iraq Proven Oil Reserves in Billion Barrels, 2012-2022

Table 2-1: Correlation Matrix for Iraq Oilfield Services Market
Table 2-2: Regression Table for Oilfield Services Market
Table 4-1: Profile of Major Oil Fields in Iraq
Table 5-1: Attractiveness of Iraq Drilling Services Industry
Table 5-2: Year on Year Development in Iraq Drilling Services Market, 2012-2017
Table 5-3: Iraq Drilling Services Market Segmentation By Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million and Rationale, 2012-2017
Table 5-4: Iraq Drilling Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million, 2012-2017
Table 5-5: Rationale for Future Projections of Iraq Drilling Services Industry, 2018-2022
Table 5-6: Iraq Drilling Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million, 2018-2022
Table 6-1: Rationale/ Developments for Change in Iraq Oilfield Services Market Size, 2012-2017
Table 6-2: Iraq Oil Field Services Market Segmentation By Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million and Rationale, 2012-2017
Table 6-3: Iraq Oilfield Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million, 2012-2017
Table 6-4: Iraq Oil Field Services Industry Market Segmentation by Type Service on the Basis of Revenue in USD Million, 2012-2017
Table 6-5: Iraq Oilfield Services Market Segmentation by Type of Services (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning) on the Basis of Revenue in USD Million, 2012-2017
Table 6-6: Iraq Oilfield Services Market Future Outlook on the Basis of Expected Revenue in USD Million, 2018-2022
Table 6-7: Iraq Oilfield Services Market Segmentation by Region (South Iraq and North Iraq) on the Basis of Revenue in USD Million, 2018-2022
Table 8-1: Iraq Government Rules and Regulation Governing Drilling and Oilfield Services Market
Table 9-1: Company Profile of Schlumberger Including Company Overview, Business Strategy, USP, Key Services and Products, Market Share, Recent Developments, and Key Projects
Table 9-2: Company Profile of Halliburton Including Company Overview, Business Strategy, USP, Recent Developments, Key Services, Market Share, Recent Developments and Key Projects
Table 9-3: Company Profile of Baker Hughes Including Company Overview, Business Strategy, Services Offering , Market Share, and Recent Developments
Table 9-4: Company Profile of Weatherford Including Company Overview, Business Strategy, Services Offering , Market Share and Recent Developments
Table 9-5: Company Profile of ZPEC Including Company Overview, Business Strategy, Service Portfolio, Market Share and Recent Developments
Table 9-6: Key Projects Executed by ZPEC, 2017
Table 9-7: Company Profile of COSL Including Company Overview, Business Strategy, Services Portfolio and Recent Developments
Table 9-8: Strength and Weaknesses of Major Oilfield Services Companies in Iraq
Table 10-1: Cause and Effect Relationship Analysis between Industry Factors and the Expected Iraq Drilling and Oilfield services industry Prospects
Table 11-1: Analyst Recommendation for Iraq Oilfield Service Market
Table 12-1: GDP of Iraq on the Basis of Current Prices in USD Billion and Rationale, 2012-2022
Table 12-2: Oil Exports Revenue of Iraq in USD Billion and Rationale, 2012-2022
Table 12-3: Global Crude Oil Prices and Rationale, 2012-2022
Table 12-4: Rationale for Iraq Proven Oil Reserves, 2012-2022

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Schlumberger, Halliburton, Baker Hughes, Weatherford, Zpec, COSL, Gigamesh, Iraqi drilling company, Genel

Oilfield Services, Drilling Services, Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning

Iraq Oilfield and Drilling Services Market by Region (North and South Iraq), by Oilfield Service Type (Operations, Engineering and Fabrication, Reservoir/ Seismic Services and Exploration, Decommissioning) - Outlook to 2022

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