One Stop Solution For In-Depth Market Research Reports

Home    >    ENERGY AND POWER   >   Indonesia Oilfield Equipment Rental Services Market

Indonesia Oilfield Equipment Rental Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)


Product Code : MDEP00122507
Survey : Mordor Intelligence
Publish On : 12, August, 2022
Category : Energy and Power
Study Area : North America (U.S. and Others), Europe (Germany, France, U.K. and Others), Asia-Pacific (Japan, China, India and Others), Rest of World (Brazil, Rest of Latin America, Middle East & Others)
Report format : PDF
Sales price option (consumption tax not included)
Single User USD4950 / Question Form
5 User USD6750 / Question Form
Enterprise User USD9000 / Question Form
NA

[Report Description]

The Indonesia oilfield equipment rental services market is expected to grow at a CAGR of more than 2.5% during the forecast period of 2020-2025. Factor such as a maturing oil and gas fields in the country which require workover and stimulation are likely to drive the Indonesia oilfield equipment rental services market. However, fluctuations in the oil prices are expected to restrain the Indonesia oilfield equipment rental services market.



Key Highlights


  • Drilling Rigs segment due to a reduction in drilling prices by 40% is likely to see significant growth in the Indonesia oilfield equipment rental services market.

  • Indonesian government targets to once again become the net exporter of crude oil and join OPEC, this is likely to create several opportunities for Indonesia oilfield equipment rental services market in the future.

  • The increasing oil consumption due to an increase in energy demand in the country is likely to drive the Indonesia oilfield equipment rental services market during the forecast period.



Key Market Trends



Drilling Rigs Expected to see Significant Market Growth




  • In 2014, after the oil price crisis, there was a sharp fall in the rig count, both onshore and offshore. As the oil prices saw a significant recovery in 2018, the onshore rig count of the country also saw substantial growth.

  • Different types of rigs are deployed into the project after considering several factors such as the depth of the water, weather conditions in the area, and several others. For shallow water, usually, jack-up and submersible rigs are used while for deep-water; generally, drillships and semi-submersible are being used.

  • In 2018, the average rig count of Indonesia, both onshore and offshore, was 33 units, which was higher than the average rig count of 2017, 26 units.

  • PT Pertamina Cepu, an affiliate of PT Pertamina, an Indonesian oil major, is under the second phase of development in the Cepu Block. The company is busy in upstream operations such as exploration, exploitation, and production of the bock, such kind of upstream activities are expected to require rigs that are suitable according to the depth of water.

  • In December 2019, Eni, an Italian oil major, successfully drilled and tested the Merakes East prospect in East Sepinggan block, Offshore Kalimantan, Indonesia. The depth of the well was 3400 meters measured-depth in 1592 meters of water depth.

  • Therefore, owing to the above points, drilling rigs are expected to see significant growth in the Indonesia oilfield equipment rental services market during the forecast period.



Increasing Consumption of Oil and Gas Expected to Drive the Market




  • Indonesia is the fourth most populous country in the world, and due to the increasing population, the energy demand in the country is also increasing at a sharp rate. In 2018, the total oil consumption in Indonesia was 83.4 million tons of oil equivalent (MTOE), which was higher than the oil consumption in 2017, 79.3 MTOE.

  • Indonesia is currently a net importer of crude oil and gas, but for several years in the past, it was a net exporter, and also was an active member of OPEC. Because of the country s increasing domestic energy consumption and rising imports of oil and gas, Indonesia suspended its membership from OPEC to achieve its targets for oil and gas production. The government of Indonesia showed interest in regaining the country s title of being a net exporter of crude oil and gas to support the country s economy.

  • In December 2019, KrisEnergy limited sold its share of Andaman II production sharing contract (PSC) to BP Exploration Operating Company Ltd, an affiliate to BP Plc. KrisEnergy initially held 30% of non-operated working interest PSC. By purchasing the share, BP showed its interest in Indonesian oil and gas.

  • In 2019, Medco E&P, a subsidiary of Medco Energi awarded a drilling contract in offshore Natuna to Japan Drilling Company Ltd for drilling four wells. Medco Energi currently has several oil and gas fields in Indonesia, which are either in the exploration phase or in the production phase. These activities by the company are likely to require oilfield equipment rental services such as logging, workover, and others

  • Hence, owing to the above points, increasing the energy consumption of the country is likely going to drive the Indonesia oilfield equipment rental services market during the forecast period.



Competitive Landscape



The Indonesia oilfield equipment rental services market is moderately consolidated. Some of key players in this market include Weatherford International plc, Baker Hughes Company, Schlumberger Limited., Hot-Hed® International, and Halliburton Company.



Additional Benefits:



  • The market estimate (ME) sheet in Excel format

  • 3 months of analyst support

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2025
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis

5 MARKET SEGEMENTATION
5.1 Equipment
5.1.1 Drilling Rigs
5.1.2 Completion and Workover Rigs
5.1.3 Drilling Equipment
5.1.4 Logging Equipment
5.1.5 Pressure Pumping Equipment
5.1.6 Other Equipments
5.2 Location of Deployment
5.2.1 Onshore
5.2.2 Offshore

6 COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Key Companies Profile
6.3.1 Weatherford International plc
6.3.2 Baker Hughes Company
6.3.3 Schlumberger Limited.
6.3.4 Atlas Copco AB
6.3.5 Transocean LTD
6.3.6 Superior Energy Services, Inc.
6.3.7 Halliburton Company
6.3.8 Hot-Hed International

7 MARKET OPPORTUNITIES and FUTURE TRENDS

Shibuya data count

Shibuya Data Count is a reseller offering a variety of market research reports from different industries, provided by a global team of experienced research professionals who ensure the most reliable and up-to-date research analysis reports.

Recommended reports

+