Technavio Says Increased Oil and Gas Production Will Enhance the Oilfield Equipment Rental Market in the Middle East Through 2019

LONDON--()--Technavio has published a new report on the oilfield equipment rental market in the Middle East, which is expected to grow at a CAGR exceeding 12% from 2015-2019.

About the Report

The new report by Technavio highlights the growing number of oil and gas discoveries in the Middle East, which is expected to propel the oilfield equipment rental market. In 2014, Saudi Aramco discovered eight new oil and gas fields in Saudi Arabia.

“In April 2015, the Kuwait Oil Company discovered four new oil fields in Kuwait. These discoveries are considered encouraging and should be followed by development and production,” says Faisal Ghaus, Vice President of Technavio.

The latest report by Technavio also underlines the integrated oil and gas companies in the Middle East, which have reduced their investment in equipment manufacturing as the equipment can be easily rented from the market.

“By renting equipment, the overall capital cost for the operator will reduce, and liability for performance is transferred to the equipment provider,” adds Ghaus.

Market Scope and Calculation of Market Size

The new Technavio report covers the present scenario and growth prospects of the oilfield equipment rental market in the Middle East from 2015-2019. The market size has been calculated from revenue generated from the market in the Middle East.

Key Information Covered in the Report:

  • Key Vendors:
    • FMC Technologies, Inc.
    • Schlumberger Ltd.
    • Superior Energy Services, Inc.
    • Weatherford International Plc
  • Market Growth Drivers:
  • Market Challenges:
    • Variation in Demand and Lack of Customization
    • For a full detailed list, view our report.
  • Market Trends:
    • Low Investment in In-house Production Units
    • For a full detailed list, view our report.

Technavio currently has more than 3000 market research reports on a huge range of topics, including 50+ reports on the oilfield market:

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
US: +1-630-333-9501
UK: +44-208-123-1770
Media & Marketing Executive
www.technavio.com
media@technavio.com

Release Summary

Technavio has published a new report on the oilfield equipment rental market in the Middle East, which is expected to grow at a CAGR exceeding 12% from 2015-2019.

Contacts

Technavio Research
Jesse Maida
US: +1-630-333-9501
UK: +44-208-123-1770
Media & Marketing Executive
www.technavio.com
media@technavio.com