All these factors are expected to have positive impact on demand for oilfield services in the
country. Rising production will remain the key driver for demand for oilfield services in
future with majority of the revenue coming from operation, engineering, fabrication, and
installation. Seismic exploration of new areas as well as reconstruction of oilfield in the
northern part is expected to drive the market in the next two years.
New investments in oil and gas sector are expected to be marred by increased defense budget
and stabilizing the socio economic conditions of the country. Fear of internal conflict and
poor stability of the political regime in the country creates negative investment sentiment.
Lack of clarity on regulation and poor foresightedness of the government in development of
oil sector may further impact the development of oilfield services in the country. Corruption
is another factor that may have negative impact on investment sentiments.
Market for oil field services will be largely driven by increased production capacity and
drilling industry will be largely driven by government’s plans to further enhance the
production capacity. Stability in North is expected which will have positive impact on the
overall oilfield services market. Schlumberger, Weatherford, and Halliburton are expected to
remain the largest oilfield services company in the country. Significant rise of Chinese
companies is expected considering the increased trade of oil and investment of Chinese
companies in oil and gas sector of Iraq. Domestic companies in the country are also expected
to gain some business but growth is expected to be much lower due to lack sufficient capital
and technology.
Analysts at Ken Research in their latest publication Iraq Oilfield and Drilling Services
Market by Region (North and South Iraq), by Oilfield Service Type (Operations,
Engineering and Fabrication, Reservoir/ Seismic Services and Exploration,
Decommissioning) - Outlook to 2022 believe that promoting political stability through
dialogues and negotiations and promulgating favorable laws that promote investment
sentiments among foreign investors will give boost to the oil and gas sector in the country.
Investment in R&D related to detailed and scientific exploration will help better assessment
of oil and gas potential and selection of area for further drilling and auctioning new field for
further development.
Iraq oilfield services market is expected to register positive CAGR during the period 2017-
2022. High dependency of economy on oil revenue and stabilizing political situation are
expected to have positive impact on the demand for oilfield services.
The report provides information on market size of the Iraq Oilfield Services and Iraq Drilling
Services Market, market segmentation on the basis of type of service, by region, and market
share of major companies.
Key Topics Covered in the Report
Major Oilfields in Iraq
Iraq Oilfield Services Market
Value Chain Oilfield Services Iraq