The Norwegian oilfield services analysis 2015
Welcome to the 2015 version of EY’s annual review of the Norwegian oilfield services industry. In this report, we quantify the size and development of this diverse industry and analyze the dynamics across the oilfield services value chain.
Norway's most extensive analysis of the oilfield services industry includes 1,113 Norwegian-registered companies with more than half its sales in the oil and gas sector. These companies have a total of 131,000 employees and a turnover in 2014 of NOK506 billion. While 2014 represented an increase for the industry in both revenue and margins estimates show that the opposite was the case from 2014-15.
- Although most arrows are pointing down now we must remember it is from a record level. Revenues for the oil service industry grew by 43 percent from 2010-2014, and the number of employees increased in the same period by 22 percent. Now the brakes are on, but it remains to be seen whether this is a temporary setback or a lasting decline, says partner Espen Norheim.