Oil and gas field service companies are responsible for drilling and support services for wells, comprising the infrastructure, equipment and services needed to explore, extract and deliver oil and gas. Major equipment service companies are involved in enhanced recovery and the manufacture, repair and maintenance of field equipment, ranging from pumps and turbines to platforms and subsea equipment.
Equipment services companies are highly dependent on shifting supply and demand centers and changing oil and gas prices. Other drivers of change are growth in the use of tie-backs to maximize recovery, expanding unconventional development through technological advancements, and new basins opening up. A critical issue for equipment services companies is field security threats, which are growing due to costly equipment, changing tax structures, and environmental and climate change regulations.