Oilfield service sector could see $30billion growth by 2018

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Source: Aberdeen Journals Energy Voice 16/06/2016 5:24 pm

There is hope in the oilfield service industry despite the current downturn, with a projected $30billion growth from 2014-2018 according to Norwegian analysts Rystad Energy, to be realised from 20 countries around the world.

Iran is expected to have the largest growth, increasing its purchases by more than $6 billion from 2014 to 2018 to meet its production targets.

After UN sanctions were lifted in January 2016, Iran’s oil and gas sector has been gradually opening up again for foreign service companies, unlocking a large market potential.

Source story here.

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