Oil majors may have slashed capital spending but national oil companies (NOCs) in the Middle East and North Africa show no sign of cutting investment, buoying oilfield services that the stock market has beaten down.
Global oilfield services (OFS) expenditure is forecast to increase 47 per cent from $354 billion in 2014 to $521 billion in 2018, a report said.
The majority of global OFS spending occurs onshore, accounting for 79 per cent of the
Scotland-based oilfield service company Romar International has entered a two year agreement with Step Oiltools to represent the company in the Middle East.
This agreement follows on from a successful contract already in place wit
Oman's Renaissance Services has sold its oilfield maintenance services unit Topaz Oil and Gas, based in the United Arab Emirates, to Interserve for $46 million, a bourse filing said on Sunday.
The UK-based support services and
Gulf Capital is buying a controlling stake in OCB Oilfield Services, which provides crews and logistics for oil rigs, to boost its exposure to the sector, said the UAE-based private equity firm in a statement.
Gulf Capital, which
The state-of-the-art Bahrain Oilfield Services base of Schlumberger, the world’s largest oilfield services company with headquarters in Houston, was inaugurated yesterday.
The Jebel Al Dukhan base was inaugurated by Finance Minist
AlMansoori Specialized Engineering (MSE), a leading Abu Dhabi-based oilfield service company, has expanded its operations into East Africa by opening its first office in Kampala, Uganda.
Newly appointed base manager George Chesnaye will he
Italian oilfield services company Saipem has won two contracts worth around 580 million euros ($903.5 million) for onshore projects in Kuwait and Angola, it said in a statement.
The Kuwait contract is for construction of a gas booster stat