Several key factors are driving growth of the oil and gas field services market in India. The Exploration and Production (E&P) activities have intensified with the country’s increasing demand for energy, particularly fossil fuels, which has increased the demand for field services. India, one of the largest energy consumers in the world, relies heavily on imports of oil and gas to meet its energy needs, which has seen public and private sector investment in upstream and downstream activities. Government’s policies of reducing import dependence are among the top drivers. This has allowed new investments and exploration activities to happen and as a result requires more drilling, well completion, seismic studies and equipment maintenance.
There is also a positive impact on the field services market due to technology advancement and adoption of digital solutions in exploration and production process as well as a direct impact on operational efficiency. Automation, data analytics and real-time monitoring have been the focus of operations and cost-effectiveness has led to more investment in these areas. On top of that, the rise of natural gas as a purer substitute to coal and crude oil, in line with India’s efforts to lessen its carbon emissions, has fueled the exploration and production of gas. This trend only adds to the need for field services. As India aims for energy security and sustainability, the market for service providers is expected to grow and become more lucrative, as operators throughout the oil and gas value chain strive to enhance efficiency and reduce costs.
In this special issue, we introduce you to the top companies in this segment. Industry Outlook has identified the select few companies that have done particularly well in this sector with a high level of dedication. We have found that these companies have gone the extra mile in proving their commitment to meet the customer needs in an integrated manner.
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