Construction Services for the Global Oil & Gas Industry (2018-2023): Oil Price Recovery & Growing Demand for Oil - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Sep 28, 2018--The “Global Construction Services Market Outlook for Oil & Gas Industry - Analysis of Growth, Trends and Forecasts (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
Oil Price Recovery & Growing Demand for Oil
Due to the oil price recovery during 2016-2017, the oil & gas expenditure experienced a growth of about 25% during said period. The oil & gas demand is consistently increasing and is expected to witness a growth of about 2.5% during the forecast period. The current producing fields are reaching their maturity. Hence, in order to meet the oil & gas demand, the oil & gas industry’s expenditure is expected to increase on exploration for new fields, as well as on enhanced oil recovery projects, to increase recovery from the producing fields.
Due to the growing oil production and increasing demand for downstream products, the midstream and downstream industry infrastructure expenditures are expected to register substantial growth in the next five years. Growing investments in upstream, midstream, and downstream oil & gas industry are expected to drive the market during the forecast period.
Regional HighlightsNorth America to Lead the Market Growing Investments in Saudi Arabia
Notable Developments in the MarketNational Petroleum Construction Company (NPCC) won a contract for construction of the pipeline and five well platforms for Ratna field of ONGC located on the west coast of India. Statoil awarded TechnipFMC Plc a construction contract for Snorre Field expansion projects.
Key Topics Covered
1. Executive Summary
2. Research Methodology
3. Market Overview
4. Market Dynamics
5. Global Construction Services Market Outlook for Oil & Gas Industry, by Location
6. Global Construction Services Market Outlook for Oil & Gas Industry, by Sector
7. Global Construction Services Market Outlook for Oil & Gas Industry, by Geography
8. Key Company AnalysisHyundai Heavy Industries Co. Ltd. Bechtel Corporation Fluor Corporation CIMIC Group Ltd. Saipem S.p.A Daewoo Shipbuilding & Marine Engineering TechnipFMC PLC Chicago Bridge & Iron Company N.V. Jacobs Engineering Group Inc. Larsen & Toubro Limited Amec Foster Wheeler PLC
9. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/research/68tw32/construction?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180928005130/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Oil,Infrastructure Construction,Specialty Trade Contractors
INDUSTRY KEYWORD: ENERGY OIL/GAS
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 09/28/2018 05:31 AM/DISC: 09/28/2018 05:31 AM