Industry Statistics and Rankings
How does this industry perform in Norway compared to Europe?
Country Benchmarking
Industry Data Norway
Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.
Revenue
#2 In EuropeBusiness
#2 In EuropeEmployees
#2 In EuropeWages
#3 In EuropeEurope’s petroleum and natural gas extraction support services’ revenue is forecast to contract at a compound annual rate of 3.8% over the five years through 2024 to €62.1 billion. Widespread disruption caused by the COVID-19 pandemic weighed heavily on extraction and exploration activity in downstream oil and gas markets as poor demand conditions caused prices to plummet, disincentivising new investment and causing support service contractors to offer price concessions to customers, compounding the industry’s weak revenue performance and weighing on profitability. Demand has increased since lockdown restrictions eased, supporting revenue over 2021 and 2022.
Enterprises
Number of businesses in 2024
Biggest companies in the Petroleum & Natural Gas Support Services in Norway
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Subsea7 SA | 4,949.3 | 144.4 | 2.9 | |
Equinor ASA | 83,145.3 | 30,348.0 | 36.5 | |
Aker Solutions ASA | 3,822.8 | 169.5 | 4.4 |
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Top Questions Answered in this Report
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What is the market size of the Petroleum & Natural Gas Support Services industry in Norway in 2024?
The market size of the Petroleum & Natural Gas Support Services industry in Norway is €13.1bn in 2024.
How many businesses are there in the Petroleum & Natural Gas Support Services in Norway industry in 2024?
There are 420 businesses in the Petroleum & Natural Gas Support Services industry in Norway, which has grown at a CAGR of 2.1 % between 2019 and 2024.
Has the Petroleum & Natural Gas Support Services industry in Norway grown or declined over the past 5 years?
The market size of the Petroleum & Natural Gas Support Services industry in Norway has been declining at a CAGR of 9.0 % between 2019 and 2024.
What is the forecast growth of the Petroleum & Natural Gas Support Services industry in Norway over the next 5 years?
Over the next five years, the Petroleum & Natural Gas Support Services industry in Norway is expected to grow.
What are the biggest companies in the Petroleum & Natural Gas Support Services market in Norway?
The biggest companies operating in the Petroleum & Natural Gas Support Services market in Norway are Subsea7 SA, Equinor ASA and Aker Solutions ASA
What does the Petroleum & Natural Gas Support Services in Norway include?
Development wells and Appraisal wells are part of the Petroleum & Natural Gas Support Services industry.
Which companies have the highest market share in the Petroleum & Natural Gas Support Services in Norway?
The company holding the most market share in Norway is Subsea7 SA.
How competitive is the Petroleum & Natural Gas Support Services industry in Norway?
The level of competition is moderate and steady in the Petroleum & Natural Gas Support Services industry in Norway.
Related Industries
This industry is covered in 37 countries
Domestic industries
Competitors
Complementors
Table of Contents
About this industry
Industry definition
This industry provides oil and gas well services on a fee or contract basis to firms that extract oil and gas. This includes traditional prospecting methods such as geological observations, and invasive work such as directional drilling, re-drilling, test drilling, spudding and derrick erection and maintenance. It also incorporates draining and pumping services and the liquefaction and regasification of gas for transportation.
Related Terms
DerrickDirectional DrillingSpuddingWhat's included in this industry?
Development wellsAppraisal wellsExploration wellsDecommissioning activityOther servicesCompanies
Subsea7 SAEquinor ASAAker Solutions ASAIndustry Code
091 - Support activities for petroleum and natural gas extraction in Norway
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Performance
Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue
- Employees
- Business
- Profit
Analysis
What's driving current industry performance in the Petroleum & Natural Gas Support Services in Norway industry?
Outlook
Analysis
What's driving the Petroleum & Natural Gas Support Services in Norway industry outlook?
Volatility
Analysis
What influences volatility in the Petroleum & Natural Gas Support Services in Norway industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Petroleum & Natural Gas Support Services in Norway industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Development wells are the most lucrative. Due to the increased complexity and larger size of development wells, these are the most lucrative to contractors.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Petroleum & Natural Gas Support Services in Norway industry's products and services performing?
Analysis
What are innovations in the Petroleum & Natural Gas Support Services in Norway industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Petroleum & Natural Gas Support Services in Norway industry?
International Trade
Highlights
- Total Imports into Norway
- Total Exports into Norway
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Larger contractors can provide a range of services. Larger contractors can secure more businesses by offering a range of complimentary services if they have the financial and capital resources to do so.
Supply Chain
Charts
Buyer and supply industries
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Establishments by Region (2024)
Data Tables
- Number of Establishments by Region (2024)
Charts
- Share of Establishments vs. Population of Each Region
Analysis
What regions are businesses in the Petroleum & Natural Gas Support Services in Norway located?
Companies
Data Tables
Top 4 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit margin (2024)
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Support service contractors must follow strict regulations. Due to the dangerous and environmentally invasive nature of some industry services, there are strict health, safety and environmental guidelines that must be followed.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Petroleum & Natural Gas Support Services in Norway industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Profitability fluctuates in line with commodity prices. When oil and gas prices are lower, contractors offer their customers concessions to ensure their services are still in demand, though this does eat into the bottom lines.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Petroleum & Natural Gas Support Services in Norway industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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