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

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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

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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

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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

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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

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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

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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

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Competition Forecast & Opportunities, 2012 – 2022

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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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