NEW YORK, July 13, 2016 /PRNewswire/ --
OPEC member country Iran is hoping forward to secure positive & optimistic growth due to change in the policy after lifting-up of long standing section in the mid of January this year (2016). Iran economy suffered a lot, as it is encumbered by the enforcement of international sanction by the United Nations, the European Union and the United States. After lifting up of the sanction, all oil & gas investors find a huge opportunity for investment in Iran. Accounting the current scenario (2015) the crude oil prices are at very low and would remain low for some time which is also becoming a driving factor of exploration & production in Iran. Also the international crude oil companies of U.S find it profitable to explore crude oil in Iran, as the costs to produce a barrel of crude in Iran is around USD12.90 in comparison to U.S which is around USD36.90. In addition to it, many European & Asian countries oil & gas companies are already in talks with various market players to mark their presence in Iran. Moreover, European companies are planning to invest around USD25 billion in Iran Oil & Gas exploration & production sector in next four years from 2016-2020. The top oil & gas companies such as BP, Eni, Shell, Total and Statoil are currently in talk with Iran policy makers regarding various oil & gas policies.
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Iran Oilfield Services Market: Drivers and Restraints
After lifting of UN Sanctions and oil embargo by EU, oil & gas investors considered that Iran has a tremendous opportunity in oil & gas sector. Moreover, Iran Central Bank Governor, Valiollah Seif, said that Iran has a potential for oil & gas sector and its economic growth is expected to increase by 5% in 2016 and nearly 8% in immediate future. The main challenge in Iran would be the geo-political issue, terrorism and chance of sanction again, which would resist conservative international companies to invest in Iran.
Iran Oilfield Services Market: Segmentation
The Iran Oilfield Services market is segmented on the basis of type, Application and Region
Based on the type, the Iran Oilfield Services market is segmented into the following:
Based on Application, the Iran Oilfield Services market is segmented into the following:
Iran Oilfield Services Market: Overview
The Iran Oilfield Services Market is anticipated to grow at a steady rate during 2016-2021, on account of lifting-up of sanction which results into increasing export of crude oil and led to drive the demand of Iran Oilfield Services Market in the country. Iran is gradually widening up its arm in global crude oil market. In the year 2015, Iran exports around 1.1 million barrels of oil per day (mbpd) and is planning to increase 5,00,000 bpd in 2016 after lifting up of sanction. In 2016, Iran is seeking foreign investment to revamp and expand its oil & gas exploration & production activities. Moreover, in the late 2015 fifty-one upstream projects were revealed along with the revised policy agreement of exploration & production such as Iran Petroleum Contract (IPC) for enabling level playing field for all exploration & production companies.
Iran Oilfield Services Market: Region-wise Outlook
At the end of 2014, Iran accounted for the fourth largest proved oil reserve and the largest proved natural gas reserves globally. The lifting-up of the sanction and new investments in Iran would provide immense opportunities for international oil companies and regional players to remain competitive in oil & gas sector even at currently prevailing low crude oil pricing environment. Moreover, Isfahan and Kermanshah region of Iran are the one of the fastest growing regions for the oilfield services market due to the presence of large oil & gas fields.
Iran Oilfield Services Market: Key Players
Key players which are planning to enter in the Iran Oilfield Services Market includes National Iranian Drilling Company, Mehran Engineering & Well Services and North Drilling Company, etc.
The report covers exhaustive analysis on:
"Iran Oilfield Services Market Opportunities & Forecast, 2021" will analyse the potential of the Oilfield services market and provides statistics and information on market sizes, shares and trends. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them in taking sound investment decisions. Besides, the report also identifies and analyse the emerging trends along with essential drivers and key challenges faced by the industry.
Report Highlights:
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