GLOBAL OILFIELD SERVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Developments

• In March 2023 Peak Petroleum Industries Ltd awarded a contract for the Blackford Dolphin semi-submersible drilling rig to Dolphin Drilling for drilling in offshore Nigeria. The rig will continue its operations after the current 12-month agreement with General Hydrocarbons Ltd. (GHL).
• In October 2022, Weatherford International Plc. entered into an agreement with Saudi Aramco to deliver drilling and intervention services for their oil and gas operations. Under this contract, Weatherford is responsible for providing comprehensive solutions covering all aspects of planning and execution, utilizing its diverse range of products and related services.
• In 2020, DOF Subsea announced the acquisition of several contracts from Petrobras, notably a substantial agreement valued at USD 110 million. This particular contract pertains to the inspection of flexible pipelines, risers, and subsea equipment across multiple The scope of work involves the utilization of vessels from the DOF fleet to carry out inspections in the Campos, Santos, and Espírito Santos basins, along with the Marlin field.
• In August 2020, Solstad Offshore ASA was granted contract extensions in Brazil by Equinor and Total. Equinor Brazil extended the contracts for the Sea Brasil and Far Scotsman platform supply vessels (PSV) by one year until December 2021 and by six months until May 2022, respectively
• In September 2020, Subsea 7 successfully secured a contract for offshore operations in Trinidad and Tobago. This contract encompasses project management, engineering, procurement, installation, and pull-in of a subsea rigid flowline, flexible riser, flexible flowlines, as well as the associated subsea infrastructure and umbilical system. The installation activities are planned to be carried out by 2021.