The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。

Review of the UK oilfield services industry

EY’s review of the UK oilfield services (OFS) industry analyses 2017’s trading information – turnover, growth, EBITDA and exports – of UK registered OFS companies in five subsectors: reservoirs; wells; facilities; marine & subsea; and support & services.

Download the full UK report


As upstream company margins and capital structures improve, will this increase OFS margins?


Which opportunities present the best bet to secure a definitive competitive advantage?


How much of the structural cost savings are sustainable?


What is the skills profile and composition of the workforce of the future?

UK oilfield services: can the industry secure a successful future?

EY - Derek Leith Derek Leith
Global Oil & Gas Tax Leader


Despite there being a general sense of gradual recovery in the oil and gas sector, our eighth annual review of the UK’s OFS industry highlights that 2017 continued to be a tough year, and we expect that trend to continue into 2018.

While the OFS sector has most probably come through the bottom of the cycle, in 2017 there is clearly no let up in the pressure on costs. Therefore the strategy for the sector remains broadly the same: focus on competitive advantage; obtain pricing uplift through integrated service offerings; achieve economies of scale and have a clear commitment to technological innovation aligned with the agendas of the E&P companies. Of course the sector must also maintain a focus on people — the downturn saw a significant reduction in headcount and the consequent loss of a great deal of skill and experience from the OFS sector.

The UK OFS industry generated
£26.9bn turnover in 2017 and employed more than
109,000 people.

The revenue from exports generated £10.5/bn in 2017.

The operating costs per barrel in the UKCS stabilised at around US$15/boe in 2017, after halving between 2014 and 2016.

EY Review of the UK Oilfield Services Industry – January 2019

Explore our viewpoints

Transition in process

Andy Brogan, EY Global O&G Leader for Transaction Advisory Services, and Celine Delacroix, EY Global Oilfield Services Transformation Leader and EY EMEIA Head of Oilfield Services, discuss the transition process in the global oilfield services market.

Read more

Are green shoots appearing?

Stuart White, Transaction Advisory Director, shares his views on the slow return of confidence to the UK OFS industry, and where companies should focus to remain competitive and develop a critical differentiator.

Read more

The capital allocation battle

Are there signs that the downturn in the Norwegian OFS industry is starting to diminish? Espen Norheim, Stavanger based Partner, explains why he thinks the decrease in revenues is starting to flatten out.

Read more

Sentiment could be turning

To out-perform in the new lower for longer price environment, Dutch OFS companies will innovate in technology and commercial agreements, according to Netherlands Partner René Coenradie.

Read more

Contact us

EY - Derek Leith

Derek Leith

Partner, Tax
Global Oil & Gas Tax Leader
+44 (0)1224 653 246
EY - Andy Brogan

Andy Brogan

Global Oil & Gas Leader for Transactions Advisory Services
+44 (0)20 7951 7009
EY - Jon Clark

Jon Clark

EMEIA Leader for Oil & Gas Transaction Advisory Services
+44 (0)20 7951 7352
EY - Celine Delacroix

Celine Delacroix

Executive Director
Global Oilfield Services Transformation Leader and EMEIA Head of Oilfield Services
+44 (0)20 7806 9204
EY - Stuart White

Stuart White

Transactions Advisory
+44 (0)1224 653 199
EY - Andrew Deane

Andrew Deane

Executive Director
+44 (0)131 777 2226
EY - Adam Holden

Adam Holden

Media enquiries
Media Relations Senior Manager
+44 (0)121 535 2128
EY - Jill Simpson

Jill Simpson

Marketing enquiries
Senior Marketing Manager
+44 (0)1224 653 004