Top 25 OFS Companies 2022

However, OFS firms in the Middle East region are already seizing the opportunity to adapt and apply their skills in the changing environment, such as drilling wells for carbon capture and storage projects. Companies are also developing renewable energy technologies that require OFS expertise and skill sets.

In this challenging environment., the service companies that demonstrated excellence in the upstream sector, adapting to the changing environment, striking the right balance between decarbonisation and growing energy needs, are on the list of the top 25 oilfield services companies.

Methodology: The editorial team of Oil & Gas Middle East formulates the list based on publicly-available information including press releases, financial reports, and key announcements from companies. We also take into consideration the companies’ sustainability initiatives, ESG policies and new technologies.

• 1. SLB
• 2. Weatherford
• 3. ADNOC Drilling
• 4. Baker Hughes
• 5. Halliburton
• 6. Arabian Drilling
• 7. NOV
• 8. NESR
• 9. KCA Deutag
• 10. Siemens Energy
• 11. GE Gas Power
• 12. Champion X
• 13. Helmerich & Payne (H&P)
• 14. Al Mansoori
• 15. Tendeka
• 16. Vantage Drilling
• 17. ADES Group
• 18. Proserv
• 19. Shelf Drilling
• 20. Sparrows Group
• 21. Welltec
• 22. Coretrax
• 23. Vallourec
• 24. Aveva
• 25. ABB

1. SLB

SLB (formerly Schlumberger) has topped our list this year as it continues to secure a pipeline of contract awards with customers announcing new projects and the expansion of existing developments globally.

The Houston-based company secured a five-year wireline services contract from ADNOC for open- and cased-hole wireline logging, as well as perforating and coiled tubing logging services. SLB technologies, including the Pulsar multifunction spectroscopy service and Saturn 3D radial probe, will be deployed to maximise the production of existing wells and appraise new fields for production expansion.

In September 2022, SLB and Aramco announced plans to collaborate and develop a digital platform that will provide sustainability solutions for hard-to-abate industrial sectors.

“Aramco and SLB are hoping to draw on our long history of collaboration and partnership to deliver a digital sustainability ecosystem that enables global organisations to manage their carbon emissions and realise ambitious sustainability goals,” SLB CEO Olivier Le Peuch said at the time of the announcement.

Around the same time, SLB also announced the introduction of Neuro autonomous solutions, which are cloud-based software and connected intelligent systems that create a continuous feedback loop between surface and downhole. This significantly increases the efficiency and consistency of exploration and production operations while reducing human intervention and footprint.

In March of this year, SLB announced a major contract award by Aramco for integrated drilling and well construction services in a gas drilling project, which encompasses drilling rigs, technologies, and services.

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2. Weatherford

Weatherford is back on our list, thanks to major contracts that the company secured from ADNOC last year. In November 2021, the company was awarded two five-year contracts with ADNOC with a combined value of more than $1 billion for downhole completions equipment and liner hanger systems.

The Houston-based firm received another five-year framework agreement from ADNOC to provide directional drilling and logging-while-drilling services. The contract is currently valued at over $400 million and ADNOC has an option to extend the contract for an additional two years.

Weatherford also secured a three-year digital oilfield contract from Kuwait Oil Co (KOC), aiming to support its digital transformation strategy in North Kuwait Heavy Oil field and for deploying its Integrated Enterprise Excellence Platform across KOC. The award also includes instrumentation, real-time monitoring, and production optimisation and assurance of wells to enable KOC to optimise its production and workover plans.

Additionally, Weatherford received two five-year artificial lift awards from Tatweer Petroleum in Bahrain to deliver, install, and service beam pumping units and downhole pumps.

On the technology front, Weatherford formed a collaboration with Sub Sea Services to transform Managed Pressure Drilling (MPD) from an add-on to an integrated part of the drilling rig. The collaboration will integrate Weatherford’s field-proven technologies with a remotely operated pull-in system from Sub Sea Services. The result will be an industry-first complete integration of MPD and typical riser auxiliary lines into a single automated connection across a range of drilling operations.

3. ADNOC Drilling

ADNOC Drilling – a subsidiary of state-owned ADNOC – is a new entry on our list due to its rapid and continued rig fleet expansion. Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 105 owned rigs as of 31 July 2022.

Earlier this year, ADNOC Drilling was awarded two contracts by ADNOC Offshore worth $3.4 billion by ADNOC Offshore to boost production capacity.

In September 2022, ADNOC drilling acquired two premium offshore jack-up rigs for $140 million to meet ADNOC’s plan to raise and sustain production capacity. With the addition of these two premium jack-up rigs, the company said it owns one of the largest operating fleets of offshore jack-up rigs in the world and has plans for further fleet growth.

In addition to fleet expansion, ADNOC Drilling announced that it secured contracts worth $2 billion to enable the delivery of ADNOC’s Ghasha offshore mega gas project. The company also entered a framework agreement with Helmerich & Payne to advance ADNOC Drilling’s land rig operational performance, as well as support its ambitious growth and expansion plans.

In October, ADNOC Drilling secured another $1.53 billion contract from its parent company ADNOC Offshore, which covers the provision of 12 jack-up rigs, two island rigs and the associated integrated drilling services.

[Editor’s note: ADNOC Drilling secures the majority of the project awards from its parent company ADNOC].

4. Baker Hughes

Baker Hughes has earned the fourth spot on our list thanks to a steady stream of contracts secured in the Middle East region. One of the company’s biggest announcements was its plan to restructure and simplify its organisational structure from four business units to two — a move, which Baker Hughes expects to deliver at least $150 million in cost savings and form the baseline for further margin improvement.

The company also secured major contracts in Iraq. In July 2022, the company’s OFS division secured a four-year contract to provide artificial lift solutions for the Missan oilfield in Iraq. In a statement announcing its results for the second quarter of 2022, the Houston-headquartered company said that the contract includes the supply of electrical submersible pumps, surface equipment and dedicated field services. In October 2022, Baker Hughes signed a contract with Iraq’s state-owned Dhi Qar Oil Co to increase the production of associated gas in the Nassiriya and Al-Gharraf oilfields.

Recently, Baker Hughes announced a new service contract for maintenance and monitoring of turbomachinery equipment operations at Coral Sul FLNG, the first deep-water floating LNG facility operating off the coast of Mozambique on the Eni-led Coral South project.
The company secured a contract from Samsung Engineering to supply 14 electric motor-driven compressors to support gas processing for Aramco’s Jafurah unconventional gas field project, the largest non-associated gas field in the Kingdom of Saudi Arabia. For this project, Baker Hughes will leverage its local compressor packaging facility in Modon, supporting the kingdom’s in-country total value add program.

5. Halliburton

Halliburton recently signed an MOU with the Saudi Data and Artificial Intelligence Authority (SDAIA) to address national and global energy challenges. The new partnership will use Halliburton’s DS365.ai platform to create data science and artificial intelligence (AI) applications and solutions, according to a release by the Houston-based oilfield services firm.

“We are excited to collaborate with SDAIA to use data science and AI to enhance the ways we explore for, develop and produce hydrocarbons,” Scott Regimbald, vice president, Saudi Arabia and Bahrain at Halliburton, said at the time of the announcement.
The company also won a contract to provide production chemicals and associated services for a large IOC in Oman. Under the seven-year contract, Halliburton will supply a full suite of customised products along with specialised services to support the in-field chemical treatments.

On the technology front, Halliburton introduced the new Hedron platform of fixed cutter PDC drillbits, which combines the latest technology with a customisation process to deliver high-performance, application-specific designs for customers.

Additionally, Halliburton secured a contract from Kuwait Oil Company to maximise its operational efficiency and increase production.

6. Arabian Drilling

Arabian Drilling Co., one of the largest oil and gas drilling contractors in Saudi Arabia, announced its intention to list its ordinary shares on the Saudi main index in an IPO, which could raise as much as $710 million.

On June 27, The Saudi Exchange gave Arabian Drilling the green light to the company’s request to offer 26.7 million shares, or 30% of its shares, and two days later, its offering was approved by the Capital Market Authority. Arabian Drilling’s IPO is the largest in the kingdom since pharmacy chain Nahdi Medical Co. raised $1.4 billion.

Established in 1964, Arabian Drilling has a large fleet of 45 onshore and offshore rigs operated that is built to withstand the harsh weather conditions found in the Middle East region.

Earlier this year, Arabian Drilling also revealed its new brand identity.

7. NOV

NOV is back on the list this year. The company’s Rig Technologies segment was awarded contracts to reactivate eleven idle jack-up rigs in Singapore and China in preparation for work in the Middle East. As the global jack-up rig market recovery begins to accelerate, NOV said its customers depend on NOV’s OEM aftermarket parts and service capabilities to return idle assets to service, allowing NOV’s customers to bid from advantaged positions in upcoming drilling campaigns.

NOV’s Grant Prideco drill pipe business won several orders for its premium drill pipe in the Middle East. In Qatar, NOV was awarded its first land project. According to NOV, Delta’s market penetration continues to accelerate as its record of offering lower total cost of ownership becomes more apparent to customers in the region.

NOV also received orders for premium drill pipe that will enable three rigs in Saudi Arabia to drill some of the world’s most challenging onshore wells. NOV’s NOVOS process automation system continued to expand its presence in the key market of Saudi Arabia. During the second quarter of 2022, NOV secured an order from a major company to install NOVOS on six rigs. NOVOS is already included as a standard feature of the fifty rigs that NOV is building at its new manufacturing facility in Saudi Arabia.

8. NESR

National Energy Services Reunited Corp (NESR), an international provider of integrated energy services in the Middle East and North Africa region, recently secured a long-term contract for directional drilling services in Saudi Arabia. According to the company, the award reflects “the culmination of several years of research and development investment in several field trials to demonstrate NESR’s ability to drill and deliver vertical and directional wellbores in record times with leading-edge technologies.”

The company also signed an agreement with ADNOC under which NESR will significantly expand its manufacturing footprint to support a growing base of operations in the UAE.
Last year, the company agreed to acquire service lines of Action Energy Co. WLL for around $50 million in cash, which Houston-based NESR said will position it as a top-tier oilfield service provider in Kuwait.

9. KCA Deutag

KCA Deutag, the global drilling, engineering and technology provider, secured contract awards, extensions and options worth around $112 million in September 2022. The contracts, which are primarily related to land rigs in Saudi Arabia and Oman, reflect the company’s focus on growth in key markets of the Middle East.

In Saudi Arabia, the company has been awarded multiple one-year extensions worth a combined total of $35 million. In Oman, a one-year contract with a new client, which includes a further one-year option, in addition to contract extensions and options with existing clients on multiple rigs, have delivered an additional $70.5 million.

Earlier this year, the company secured contract extensions and options totaling over $170 million. Two of the company’s highly mobile desert rigs in Oman were awarded a total of three firm and four optional years’ contracts. Additionally, the firm secured a five-year firm contract extension valued at around $60 million in Saudi Arabia.

In June, KCA Deutag signed a Sale and Purchase Agreement to acquire Saipem’s onshore drilling business as part of continuing to deliver its growth strategy and expanding in core markets such as the Middle East region.

10. Siemens Energy

Siemens Energy has moved up on our list as the service major continues to advance multiple clean energy projects in the Middle East. The company also completed the expansion of its one-stop shop for the energy industry hub in Dammam, increasing its local capabilities in the energy industry, in line with Saudi Arabia’s Vision 2030. The facility, which now covers significant parts of the energy value chain, is the largest of its kind in the region and is ready to support neighboring countries.

Last year, Siemens Energy signed a memorandum of understanding with the Egyptian Electricity Holding Co (EEHC) to establish and develop long-term cooperation to scale up the hydrogen-based industry in Egypt. Siemens Energy and EEHC will jointly promote investment, technology transfer, and implementation of projects related to hydrogen production, based on renewable energy in Egypt.

Siemens Energy also collaborated with Dubai Electricity and Water Authority and Expo 2020 Dubai to inaugurate the first industrial-scale, solar-driven green hydrogen facility in the Middle East and North Africa.

11. GE Gas Power

GE Gas Power, an integral part of the GE Vernova portfolio of energy businesses, is a global provider of natural gas power technology, services, and solutions. In September 2022, the company signed an agreement with QatarEnergy to collaborate on developing a carbon capture roadmap for the energy sector in Qatar. The focus of the MoU is to explore the feasibility of developing a world-scale carbon hub at Ras Laffan Industrial City, which as of today, is home to more than 80 GE gas turbines.

During the same month, the company also signed a long-term agreement with Iraq’s Taurus Arm to provide parts, repairs, and services for two gas turbines at the facility for 16 years.
Earlier this year, GE and its regional solution partner Inogen were selected by Turkey’s Sertavul to build one of the first hybrid wind and solar projects in Turkey. The plant is composed of a 32 MW wind farm commissioned in 2020 that will be integrated with a 30 MW solar plant.

12. Champion X

Champion X recently received its first production consulting services contract with a Middle East operator to provide workflow and benchmarking assessments for production automation and equipment.

Champion X also released XSPOC 3.2 production optimisation software, which expands on the AI-driven autonomous control capabilities and adds enhanced features supporting production uplift and economic opportunities for both rod-lift and gas-lifted wells. The company also released AnX coiled rod offering that prevents corrosion damage and extends rod string run times in harsh well environments.

Additionally, the company’s Production Chemical Technologies division secured contract extensions in Oman, Egypt, Saudi Arabia, Nigeria, and Angola.

13. Helmerich & Payne (H&P)

Oklahoma-based service provider H&P is on our list this year as the company’s activity continues to tick higher.

In December 2021, H&P finalised the Rig Enablement Framework Agreement with ADNOC Drilling to advance the company’s land rig operational performance, as well as support its ambitious growth and expansion plans.

Focused on improving drilling efficiencies and unlocking operational savings, the agreement builds on the Asset Purchase Agreement and IPO Cornerstone Agreement announced on September 8, 2021, further strengthening the strategic alliance between ADNOC Drilling and H&P.

In the Middle East, preparations are underway to export some of its idle super-spec capacity as part of its hub strategy, H&P’s President and CEO John Lindsay noted.
“Current plans have one rig moving in the coming months with others possible shortly thereafter…We view this as an important step in establishing our Middle East hub,” he said.

14. Al Mansoori

Al Mansoori was awarded a framework agreement by ADNOC alongside other service majors like Halliburton and Schlumberger, for directional drilling and logging while drilling in August 2022 following a competitive tender process.

In September 2022, the company was acquired by TAQA to expand its services in the field of well services from the Kingdom of Saudi Arabia to the MENA region. Al Mansoori, which has a strong track record of service quality and well-established relationships with major oil and gas companies in the MENA region, will enhance TAQA’s portfolio of operations.

Founded in Abu Dhabi in 1977, Al Mansoori was one of the first local companies to participate in the oilfield services sector. Since then, the company has grown into a workforce of over 3000 employees spread across 18 countries in two continents.

15. Tendeka

Global completions specialist Tendeka reported last year that it secured more than $30 million worth of international contracts within the last quarter to cover the next three years. In addition to this unplanned revenue, the company has won long-term work with operators for its swellable packers and sand and inflow control technologies across key energy hubs, including the North Sea, Australasia and the GCC region.

Brad Baker, CEO at Tendeka, said in a recent statement: “To secure a number of multi-year, international agreements is always satisfying, but even more so with what the industry has been going through over the last 18 months. It has been an uncertain time for the sector, but due to the hard work of our team and our investment in technology, we have forged even stronger relationships with our global customers to enhance their operations.”

To support the inflow control of wells, Tendeka has installed more than 50,000 FloSure autonomous inflow control devices around the world. The field-adjustable devices choke unwanted produced fluids whilst promoting production of oil from the entire length of the well.

16. Vantage Drilling

Offshore drilling company Vantage Drilling is a new entry on our list, thanks to its three-year contracts for two of its jack-up drilling rigs to work offshore Qatar, starting in the first quarter of 2022. The Houston-based company, which is co-headquartered in UAE, operates and manages a fleet of high specification drilling rigs worldwide.

Vantage Drilling is an offshore drilling contractor, with a fleet of two ultra-deep-water drillships and five premium jackups. Vantage’s primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and independent oil and gas companies. Vantage also markets, operates and provides management services in respect of, drilling units owned by others.

17. ADES Group

ADES Group is a leading oil & gas drilling and production services provider in the Middle East and Africa. The company, along with Arabian Drilling, announced in October 2022, that it will charter four jack-up rigs to be deployed on bareboat charters in Saudi Arabia.

The company also completed the purchase of several jack-up rigs this year. In Septmeber 2022, the company signed a deal with offshore drilling firm Seadrill to purchase seven jack-up drilling rigs. In April of this year, after agreeing to buy four jack-up drilling rigs, ADES bought Valaris’ heavy-duty jack-ups for $125 million.

ADES’ clients include both national oil companies, such as Saudi Aramco and Kuwait Oil Co, as well as joint ventures of NOCs with global majors including BP and Eni. Last year, ADES bought jack-up drilling rigs from Noble Corporation and Vantage Drilling.

It’s worth noting that ADES was bought last year by Innovate Energy Holding, a company backed by Saudi Arabia’s Public Investment Fund. The company that used to be listed on London Stock Exchange, was then taken private.

18. Proserv

Global controls technology company Proserv, with numerous sites across Dubai, Abu Dhabi, Dammam and Doha, continues to strengthen its footprint across the MENA region.
In the Arabian Gulf, its service team has built substantial multi-year partnerships with the leading NOCs which are driving aggressive expansion. The past year has seen further major topside contract wins in North Africa, Oman, Iraq, Pakistan and Central Asia.

A global leader in subsea technology, the business is harnessing its controls expertise to innovate disruptive digital solutions, across the full energy spectrum including in offshore wind, to deliver asset optimisation and pivot its activities towards the energy transition.

19. Shelf Drilling

Shelf Drilling is an international shallow-water offshore drilling contractor with rig operations across the MENA region, Asia, and the North Sea. Shelf Drilling was founded in 2012 and has established itself as a leader within its industry through its fit-for-purpose strategy and close working relationship with industry-leading clients.

In October 2022, Shelf Drilling secured a five-year contract for the recently acquired premium jack-up rig Shelf Drilling Victory for operations in the Arabian Gulf. The contract value for the firm period, including mobilisation revenue, is approximately $236 million. The contract also includes a two-year option, and the planned start-up of operations is late-March 2023.

Before commencing the contract, the jack-up rig is scheduled to complete a reactivation and upgrade project which is currently underway in the UAE. The company received an award for a three-year contract for its jack-up rig with Oil and Natural Gas Corp for operations in Mumbai High, offshore India, which is expected to begin operations in the first quarter of 2023.

20. Sparrows Group

Sparrows Group is a global provider of specialist engineering, inspection, operations, and maintenance services to the industrial, offshore energy, and renewables markets.
The company has been operating in Abu Dhabi for over 20 years with facilities in Saudi Arabia and Qatar offering a range of capabilities

Earlier this year, the company’s Abu Dhabi facility was awarded API Q2 certification becoming the first international company to receive the second edition certification. The award comes at a pivotal time for the company, which recently announced a significant investment in its Middle East facilities, including increasing both its footprint and headcount in Abu Dhabi.

The decision to expand their facility was in part due to a clear demand and uptick of drilling activity in the region where around 20% of the company’s ongoing work is drilling related.In March 2022, the company secured a three-year contract to provide crane operations and maintenance services offshore Luanda, Angola.

21. Welltec

Welltec has enjoyed a long presence in the Middle East. The company first began installing its Welltec Annular Barrier (WAB) metal expandable packers for Saudi Aramco in 2014, before going on to establish the Al-Khobar Manufacturing and Maintenance center in June 2019. Since then, the two parties have collaborated to deliver more than 60 WAB installations in Saudi Aramco projects.

In April 2022, Welltec announced the agreement of a long-form contract between the two parties, the highest level of contract in the Saudi Aramco procurement processes, building Welltec’s contribution to the In Kingdom Total Value Add program. Welltec is also playing a significant role in advancing energy transition. The company recently opened its new test flow loop facility in Denmark to provide corrosion testing for numerous carbon capture and storage projects.

22. Coretrax

Aberdeen-headquartered Coretrax, a global provider of oil and gas well integrity and production optimisation, is back on our list this year. In January 2022, the company announced the first deployment of its Reline WL expandable technology in the Middle East, which is designed to unlock commercial value by maximising production from existing wells. Reline WL is proven to deliver a 700% greater flow area when compared to traditional straddles, securing safety and sustainability benefits by reducing the number of onsite personnel required to complete the work.

Deployed to support a major Saudi operator, the expandable technology was brought in when water ingress on a producing well led to decreased oil recovery.

In July, Coretrax doubled the size of its Middle East headquarters in Dubai, after moving into a new DMCC office space in the city and an operations hub in Abu Dhabi. Following the acquisitions of Mohawk Energy and Churchill Drilling Tools in 2019, the company brought both under the Coretrax brand last year to offer the global oil and gas industry an integrated and boundary-pushing approach to well lifecycle integrity.

23. Vallourec

Vallourec is a provider of tubular solutions for the oil and gas markets and has been a key player in the Middle East for more than 40 years with its business activities including various process pipes for both onshore and offshore applications.

In September 2022, Vallourec signed a 10-year agreement with Saudi Aramco, which will cover part of the Saudi oil giant’s needs for premium Oil Country Tubular Goods solutions for its drilling operations, supply of casing, and inventory management services. According to Vallourec, the agreement represents a key achievement for the company in Saudi Arabia and paves the way for a joint roadmap focused on innovation, services, and energy transition.

“This first long-term agreement is a strong recognition by Saudi Aramco that Vallourec is a long-term strategic partner for the years to come…paving the way for extended collaboration to introduce our wide range of innovative solutions” Philippe Guillemot, chairman of the board of directors and CEO of Vallourec, said at the time of the announcement.

24. Aveva

UK-headquartered AVEVA signed an agreement with Schneider Electric and Obeikan Digital Solutions last year to support Saudi Arabia’s industrial sector. Under the agreement, the three companies will collaborate to help the Kingdom’s factories on their path to Industry 4.0 through digital transformation.

The company also formed a new alliance with Wood, the global consulting and engineering company, to accelerate the digital transformation of industries such as power, energy, chemicals and mining with the launch of a new solution called Connected Build, a key part of AVEVA’s digital twin offering, which optimises project delivery while improving collaboration on new build projects and facilitates the digital modernisation of existing plants and refurbishments.

25. ABB

ABB is back on our list as it continues the momentum of innovation in sustainability and partnerships in the area of clean energy. In March 2021, ABB launched the Energy Efficiency Movement, which is a multi-stakeholder initiative to raise awareness and spur action to reduce energy consumption and carbon emissions to combat climate change. Companies are invited to join the movement and make a public pledge as a way of inspiring others to take action.

The company also secured a contract from Aker Solutions to deliver the main electrical, automation, and safety systems for Norway’s Northern Lights project. A joint venture between Equinor, Shell, and TotalEnergies, Northern Lights is the first industrial carbon capture and storage project to develop an open and flexible infrastructure to safely store CO2 from industries across Europe.

Last year, ABB partnered with Shanghai-headquartered technology provider Wison Offshore & Marine on the development and implementation of FLNG facilities worldwide.