Oil & Gas Support Services

Oil & Gas Support Services

Overview

The 8,700 oil and gas service companies provide a variety of support activities to oil and gas operations on a contract or fee basis. Services support the exploration, drilling, testing, and clean-up operations for on-shore or off-shore oil and gas wells.

Higher Insurance Costs

As a result of the aftermath of the Macondo oil spill, insurers limited their negligence coverage and increased policy pricing by 50% to 100%.

Development Of Deep Waters

Traditional fields are becoming depleted, making the deep waters of the Gulf of Mexico and off the coasts of South America, West Africa, and Australia increasingly important.