These are exciting times in the global oil and gas market, which driven by technological breakthroughs and strong demands, continues to show solid growth despite the global economic pressures.
This is partly due to increased demand for oil in the developing world which in 2013 will overtake that of industrialised countries for the very first time.
Furthermore, the shale revolution which has transformed the US energy sector is now set to sweep the wider world. If its impact elsewhere is anything like we have seen in the US – in just a decade shale gas has risen from 2% of natural gas production to 37% – then the ramifications are going to be significant. Global production of gas is already growing at roughly twice the rate of oil, while global demand for gas could rise by as much as 50% between 2010 and 2035.
Today the oilfield services market is worth $750bn a year and provides an attractive arena for M&A activity, particularly as oilfield services companies seek to consolidate operations as they seek out new technologies, markets and customers.
In this report, Clearwater looks at what is currently happening in the UK and Global oil and gas markets whilst focusing on hot topics such as Shale and Deepwater/Subsea and the regions which are attracting the most interest.
Read the Oilfield Equipment and Services Report here.