Oilfield service (OFS) companies must decide now whether they are going to stick with hydrocarbons or pivot to low-carbon, a new report said.
oilfield service sector
A restructuring specialist has warned more North Sea oilfield service firms are “operating in crisis mode” and that he expects to see higher levels of insolvencies next year.
Hit by the Covid-19 downturn, the oilfield service market is not likely to rebound to last year’s activity level until 2023 according to a Rystad Energy analysis.
Strong results for oilfield service giants of Schlumberger, Haliburton and BHGE “set the tone” for 2018, according to Rystad Energy.
The macroeconomic context provides plenty of reasons to be optimistic about the deal pipeline in 2013.