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Oilfield Services Procurement Research – Market Trends and Spend Analysis by SpendEdge

Oilfield Services Procurement Research – Market Trends and Spend Analysis by SpendEdge

LONDON--(BUSINESS WIRE)--Apr 30, 2018--Global procurement intelligence advisory firm, , has announced the release of their ‘ . ’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the . This report breaks down the data and analysis behind the procurement of oilfield services and acts as an all-inclusive guide for making smart purchasing decisions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180430005129/en/

Oilfield Services Procurement Report. (Graphic: Business Wire)

“A gradual recovery in global oil and gas prices will be one of the major factors contributing to the growth of the OFS industry,” says SpendEdge procurement analyst Anil Seth. “North America is considered as the largest market for OFS owing to the demand for OFS from the shale industry in the region,” added Anil.

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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Oilfield Services Market:

Growth in exploration of unconventional oil and gas reserves M&A among OFS providers Rise in OFS costs for buyers

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Growth in exploration of unconventional oil and gas reserves

In recent years, oil and gas exploration from unconventional reserves is gaining popularity, which is motivating countries to explore the commercial viability of their unconventional sources.

M&A among OFS providers

Globally, OFS companies are engaging in M&A activities to expand their service portfolio. This will help the suppliers gain a better bargaining power over their buyers. Also, the buyers can rely on integrated service providers for the entire spectrum of OFS requirements.

Rise in OFS costs for buyers

In the oilfield services market, the prices of oil and gas are stabilizing, which will increase the cost of their services. Also, the rise in OFS costs will affect the profit margins of IOCs. However, it will provide a better opportunity to the IOCs to negotiate on the quality of products and services offered.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180430005129/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Consultant

US: +1 630 984 7340

hello@spendedge.com

KEYWORD:

INDUSTRY KEYWORD: ENERGY OIL/GAS MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES OTHER NATURAL RESOURCES

SOURCE: SpendEdge

Copyright Business Wire 2018.

PUB: 04/30/2018 03:15 PM/DISC: 04/30/2018 03:15 PM

http://www.businesswire.com/news/home/20180430005129/en


Updated : 2021-06-23 17:29 GMT+08:00