1. Market Research
  2. > Energy & Environment
  3. > Energy
  4. > Oil and Gas Market Trends

Southeast Asia Offshore Oil and Gas Services Market 

  • April 2015
  • 107 pages
  • Frost & Sullivan
Report ID: 2911200

Summary

Table of Contents

Scope

The offshore oil and gas (O&G) services market is witnessing uncertainty amid the global slump in crude oil price that started in H2, 2014 affecting economies and several industries. Major international and national oil companies have resorted to controlling their capital investments and laying off employees to reduce expenses. The highest level of uncertainty exists in the United States and other high-cost offshore drilling areas. This study evaluates the current state of the offshore O&G services market and focuses on the major industry verticals such as drilling support services, marine support vessels services, and pipeline services. It covers the field projects in the selected market segments and includes fleet sizes segregated by rig and vessel type.

Key Findings

The global offshore oil and gas (O&G) services market was valued at $xx billion in 2014. The market sizing is based on analysis of three main industry verticals: drilling support services, marine support services, and pipeline support services.
- The ongoing slump in oil price is impacting the market immensely—major participants have resorted to reducing capital investment and laying off employees to lower expenses. The highest uncertainty lies in the United States and other high-cost offshore drilling areas.
- Competition in this market is severe. Strong global companies are able to hold on to their market position because of adequate cash reserves that allow them to cover losses and thrive on low costs, whereas small companies are finding it challenging to survive in the current environment. They were able to make profits mainly because of high oil prices in the past few years.
- The Southeast Asian region relies heavily on offshore activities to fulfill both export and local market demands. Countries such as Malaysia, Indonesia, and Brunei derive huge revenue from O&G exports, whereas nations such as Thailand and Myanmar generate revenue by catering mostly to local market demand.

Executive Summary - Research Scope

This research service provides the trends and developments in three segments of the oil and gas (O&G) offshore services market: drilling support services, marine support vessels services, and pipeline services. The O&G platform services segment has been excluded from the research scope.
- The study summarizes field projects in the selected market segments and includes fleet sizes segregated by rig and vessel type.
- The study profiles the major competitors which have made a regional impact in each market segment.
- The growth rate of global oil demand has been slow during 2014, primarily due to adoption of alternative fuel sources and improvements in consumption efficiency.
- The US shale boom made possible by advancements in drilling methods such as fracking and horizontal drilling is responsible for the disproportionate increase in global oil supply.
- US drillers produced almost as much oil as OPEC leader Saudi Arabia (11 millions of barrels per day (mb/d)) in Q1 2014 to profit from the once high oil prices.
- The economics involved in supply exceeding demand has been bringing oil prices down since June 2014.
- Low oil prices are expected to have a negative impact on the active rig counts and exploration and production spending.
- Oil prices are not expected to reach the $xx/barrel mark in the near future.
- Majority of the abandoned rigs are found in areas that involve high production cost such as the Gulf of Mexico and North Sea.
- As of 2015, rigs that were abandoned were either old or low on efficiency and not newly installed competitive vessels.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Veronica helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

Global Oil and Gas Pipelines Industry Outlook to 2021: Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Pipelines

  • $ 8000
  • Industry report
  • April 2017
  • by GlobalData

Global Oil and Gas Pipelines Industry Outlook to 2021: Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Pipelines Summary "Global Oil and Gas Pipelines Industry Outlook ...

Global Oil Storage Industry Outlook to 2021 - Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Terminals

  • $ 8000
  • Industry report
  • March 2017
  • by GlobalData

Global Oil Storage Industry Outlook to 2021 - Capacity and Capital Expenditure Forecasts with Details of All Operating and Planned Terminals Summary "Global Oil Storage Industry Outlook to 2021 - Capacity ...

Hydrogen Generation Market by Generation and Delivery Mode (Captive and Merchant), Application (Petroleum Refinery, Ammonia Production, and Methanol Production), Technology (Steam Methane Reforming and Coal Gasification), and Region - Global Forecasts to

  • $ 7150
  • Industry report
  • April 2017
  • by MarketsandMarkets

“The hydrogen generation market is projected to grow at a CAGR of 6.07%, by value, from 2017 to 2022.” The hydrogen generation market is projected to reach USD 154.74 billion, by value, by 2022, growing ...


ref:plp2015

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.