The deal will help the company to extend its services and become a leader in the near future. Liberty Oilfield Services Inc, an oilfield service company, specializing in hydraulic fracturing, stimulation, and engineering services announced the acquisition of a Schlumberger unit. The increasing investment in the offshore sector is expected to favor healthy growth of the market, mentioned in a report, titled “Oilfield Services Market Size, Share & COVID-19 Impact Analysis, By Type (Equipment Rental, Field Operation, and Analytical Services), By Service (Geophysical, Drilling, Completion & Workover, Production, and Processing & Separation), By Application (Onshore and Offshore ), and Regional Forecast, 2020-2027.” The market size stood at USD 267.82 billion in 2019 and is expected to exhibit a CAGR of 6.6% between 2020 to 2027.Īcquisition of Schlumberger unit by Liberty Oilfield Services to Augment Growth The global oilfield services market size is expected to reach USD 346.45 billion by 2027.
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