Market Size of Malaysia Oilfield Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 1.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Malaysia Oilfield Services Market Analysis
The Malaysia oilfield services market is expected to grow at a CAGR of more than 1% over the period of 2020-2025. Factors such as increasing production of crude oil and natural gas from conventional resources, requirement for critical offshore expertise and increase in demand for advanced technologies are expected to drive the market. However, volatility in crude oil and natural gas prices may restrain the growth of the market.
- Rising investments in the sector are expected to aid the growth of the market and is expected to act as a driver for the market in the forecast period. Investments are being made in the exploration and production of natural gas in the offshore location.
- New development in the oilfield services, like the advancements in the high-end self-adaptive inflow control completion technology, is expected to make the oil and gas production more viable and may provide an opportunity for market players.
- The completion services segment is expected to witness significant in the forecast period. Increasing investment and advancement in technology are expected to aid the growth of the market.
Malaysia Oilfield Services Industry Segmentation
The Malaysia oilfield services market report include:
| Service Type | |
| Drilling Services | |
| Completion Services | |
| Production Services | |
| Other Services |
Malaysia Oilfield Services Market Size Summary
The Malaysia oilfield services market is poised for growth, driven by increasing production of crude oil and natural gas from conventional resources, alongside a rising demand for advanced technologies and critical offshore expertise. The market is expected to benefit from significant investments in exploration and production activities, particularly in offshore locations. Innovations such as high-end self-adaptive inflow control completion technology are anticipated to enhance the viability of oil and gas production, presenting opportunities for market players. The completion services segment is projected to experience notable growth, supported by technological advancements and increased investments in the sector.
The market landscape is characterized by a mix of established players and emerging opportunities, with key companies like Schlumberger Ltd., Halliburton Company, Baker Hughes Company, Weatherford International plc, and Destini Berhad playing significant roles. The majority of Malaysia's oil production is sourced from offshore fields, with deepwater areas requiring advanced completion services to optimize production. The introduction of intelligent well completion technologies and partnerships, such as those between Emerson Electric Co. and Metrol, are expected to further drive market growth. Despite challenges like crude oil price volatility, the market is set to expand, supported by ongoing exploration and development projects, particularly in the Malay Basin and other offshore regions.
Malaysia Oilfield Services Market Size - Table of Contents
-
1. MARKET OVERVIEW
-
1.1 Introduction
-
1.2 Market Size and Demand Forecast in USD billion, till 2025
-
1.3 Crude Oil Production, in million barrels per day, till 2020
-
1.4 Natural Gas Production, in billion cubic feet, till 2020
-
1.5 Recent Trends and Developments
-
1.6 Government Policies and Regulations
-
1.7 Market Dynamics
-
1.7.1 Drivers
-
1.7.2 Restraints
-
-
1.8 Supply Chain Analysis
-
1.9 PESTLE Analysis
-
-
2. MARKET SEGMENTATION
-
2.1 Service Type
-
2.1.1 Drilling Services
-
2.1.2 Completion Services
-
2.1.3 Production Services
-
2.1.4 Other Services
-
-
Malaysia Oilfield Services Market Size FAQs
What is the current Malaysia Oilfield Services Market size?
The Malaysia Oilfield Services Market is projected to register a CAGR of greater than 1% during the forecast period (2024-2029)
Who are the key players in Malaysia Oilfield Services Market?
Schlumberger Ltd., Halliburton Company, Baker Hughes Company, Weatherford International plc and Destini Berhad are the major companies operating in the Malaysia Oilfield Services Market.
