Iran Oilfield Services Market Opportunities & Forecast 2021
TechSci Research Report
NEW YORK, July 13, 2016 /PRNewswire/ --
OPEC member country Iran is hoping forward to secure positive & optimistic growth due to change in the policy after lifting-up of long standing section in the mid of January this year (2016). Iran economy suffered a lot, as it is encumbered by the enforcement of international sanction by the United Nations, the European Union and the United States. After lifting up of the sanction, all oil & gas investors find a huge opportunity for investment in Iran. Accounting the current scenario (2015) the crude oil prices are at very low and would remain low for some time which is also becoming a driving factor of exploration & production in Iran. Also the international crude oil companies of U.S find it profitable to explore crude oil in Iran, as the costs to produce a barrel of crude in Iran is around USD12.90 in comparison to U.S which is around USD36.90. In addition to it, many European & Asian countries oil & gas companies are already in talks with various market players to mark their presence in Iran. Moreover, European companies are planning to invest around USD25 billion in Iran Oil & Gas exploration & production sector in next four years from 2016-2020. The top oil & gas companies such as BP, Eni, Shell, Total and Statoil are currently in talk with Iran policy makers regarding various oil & gas policies.
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Iran Oilfield Services Market: Drivers and Restraints
After lifting of UN Sanctions and oil embargo by EU, oil & gas investors considered that Iran has a tremendous opportunity in oil & gas sector. Moreover, Iran Central Bank Governor, Valiollah Seif, said that Iran has a potential for oil & gas sector and its economic growth is expected to increase by 5% in 2016 and nearly 8% in immediate future. The main challenge in Iran would be the geo-political issue, terrorism and chance of sanction again, which would resist conservative international companies to invest in Iran.
Iran Oilfield Services Market: Segmentation
The Iran Oilfield Services market is segmented on the basis of type, Application and Region
Based on the type, the Iran Oilfield Services market is segmented into the following:
- Drilling Services
- Pressure Pumping Services
- Oil Country Tubular Goods Services
- Wireline Services
- Drilled & Completion Fluids Services
- Well Intervention Services
- Completion equipment & Services
- Drilling Waste Management Services
- Coiled Tubing Services
Based on Application, the Iran Oilfield Services market is segmented into the following: