Argentina Oilfield Services & Equipment (OFSE) Market Report - Market Analysis, Size, Share, Growth, Outlook - Industry Trends and Forecast to 2028

Argentina is one of the major oil and gas-producing nations in the world. The country has the fourth-largest shale oil reserves and the world's second-largest shale gas reserves in the world. Post the discovery and exploration of the Vaca Muerta formation, the oilfield equipment, and oilfield services market have gained momentum due to the increased exploration and drilling activities.

The increased exploration and drilling activities in the Vaca Muerta and proactive steps being taken by the government to increase revenue from the country's oil and gas industry are some of the major drivers of the Argentina oilfield services and equipment market.

Vaca Muerta Shale

The Vaca Muerta shale formation, located in the western Neuquen province of Argentina, is the world's second-largest shale gas reserve and the fourth-largest shale oil reserve. and holds the promise of reducing Argentina's roughly 20% reliance on expensive foreign natural gas imports.

The increased production of Vaca Muerta has allowed Argentina to reduce energy imports by USD 4 billion in value terms during the winter of 2021.

Vaca Muerta could nearly double Argentina's crude oil production to 1 million barrels per day by 2026, allowing exports to exceed 500,000 barrels per day by then, up from less than 100,000 barrels per day now.

Gas production, which is currently at 130 million cubic meters/d, could increase even further, making Argentina a competitor to Australia and Qatar in the LNG market at a time of rising demand for natural gas as the world is moving towards net-zero carbon emissions by 2050.

Only 4% of the 35,000 km2 territory of non-conventional resources in Vaca Muerta is currently in a massive development phase. Argentina's gas and oil resources in its large offshore platform, which covers approximately 500,000 km2, are yet to be explored.

The promising oil and gas potential of the Vaca Muerta is expected to see a rise in exploration and drilling thereby driving the Argentina oilfield service market.

Government Regulations and Support

Argentina's energy regulatory framework aims to increase market certainty and attract more foreign investment in order to increase oil and gas production for export. Given the country's broader economic challenges, the Argentine government at both the federal and provincial levels is taking a more active role in critical industries such as energy, mining, and transportation. The Argentine government wants the energy sector to be a major driver of exports, increase foreign exchange liquidity, and attract foreign direct investment, which will lead to economic growth.

The development of a gas and energy transition-focused industry, generating new projects and incoming LNG investment, is one of the top priorities on Argentina's energy agenda.

Furthermore, with the Transandean Pipeline refurbishment nearing completion, the country is positioning itself to begin exporting gas to its neighbors, increasing exports to Chile, and fueling the country's own gas expansion initiatives.

In addition to Chile, Argentina is negotiating with Brazil to build a USD 1 billion pipeline connecting the Vaca Muerta shale gas reserves with the country, exposing Vaca Muerta to an ever-expanding market.

In 2020, the government launched "Plan Gas.Ar," a natural gas plan aimed at increasing domestic production while decreasing gas imports. The Plan establishes a framework for ensuring access to foreign exchange as well as government support for increased oil and gas output.

About the Report

The new report from Blackridge Research on Argentina Oilfield Services and Equipment (OFSE) Market comprehensively analyses the Oilfield Services and Equipment (OFSE) Market and provides deep insight into the current and future state of the industry in the country. The study examines the drivers, restraints, and trends influencing Argentina Oilfield Services and Equipment (OFSE) Market demand and growth. 

The report also addresses present and future market opportunities, market trends, developments, and the impact of Covid-19 on the Argentina Oilfield Services and Equipment E(OFS) Market, important commercial developments, trends, segments poised for the fastest market growth, and competitive landscape. Further, the report will also provide Argentina Oilfield Services and Equipment (OFSE) Market size, demand forecast, and growth rates.

What we cover in the report?

Argentina Oilfield Services and Equipment (OFSE) Market Drivers & Restraints

The market research study covers all the major underlying forces that help the market develop and grow and the factors that constrain the growth.

The report includes a meticulous analysis of each factor, explaining the relevant, qualitative information with supporting data.

Each factor's respective impact in the near, medium, and long term will be covered using Harvey balls for visual communication of qualitative information and functions as a guide for you to analyze the degree of impact.

Argentina Oilfield Services and Equipment (OFSE) Market Analysis

This report discusses the overview of the market, latest updates, important commercial developments and structural trends, and government policies and regulations in the country.

This section provides an assessment of COVID-19 impact on Argentina Oilfield Services and Equipment (OFSE) Market demand in the country.

Argentina Oilfield Services and Equipment (OFSE) Market Size and Demand Forecast

The report provides Argentina Oilfield Services and Equipment (OFSE) Market size and demand forecast until 2027, including year-on-year (YoY) growth rates and CAGR.

Oilfield Services and Equipment (OFSE) Market Industry Analysis

The report examines the critical elements of the Oilfield Services and Equipment (OFSE) industry supply chain, its structure, and the participants

Using Porter's five forces framework, the report covers the assessment of the Oilfield Services and Equipment (OFSE) industry's state of competition and profitability.

Oilfield Services and Equipment (OFSE) Market Segmentation & Forecast

The report dissects the Argentina Oilfield Services and Equipment (OFSE) Market into various segments. A detailed summary of the current scenario, recent developments, and market outlook will be provided for each segment.

Further, market size and demand forecasts will be presented along with various drivers and barriers for individual market segments.

Effective market segmentation enables you to identify emerging trends and opportunities for long-term growth.

for "bespoke" market segmentation to better align the research report with your requirements.

Key Company Profiles

This report presents detailed profiles of Key companies in the Oilfield Services and Equipment (OFSE) industry such as Weatherford International, Halliburton company, etc. In general, each company profile includes - an overview of the company, relevant products and services, a financial overview, and recent developments.

Competitive Landscape

The report provides a comprehensive list of notable companies in the country's market, including mergers and acquisitions (M&As), joint ventures (JVs), partnerships, collaborations, and other business agreements.

The study also discusses the strategies adopted by leading players in the industry.

Executive Summary

Executive Summary will be jam-packed with charts, infographics, and forecasts. This chapter summarizes the findings of the report crisply and clearly.

The report begins with an Executive Summary chapter and ends with Conclusions and Recommendations.

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