According to the forecasts of analysts at Kasatkin Consulting, the Russian oilfield services market will continue to grow steadily. In 2024, the market volume will increase by 42 billion rubles and amount to 2294 billion rubles, with further growth to 2435 billion rubles in 2025 and 2539 billion rubles in 2026.
However, in dollar terms, it is projected to decrease to $25.5 billion in 2024, due to changes in exchange rates. By 2025, it is expected to recover to $27.1 billion.
In 2023, the profitability of oilfield services companies amounted to 17%. The leading segment is drilling (37.5% of the market), followed by other services (14%) and hydraulic fracturing (7%). The largest growth is expected in the drilling and hydraulic fracturing segments — about 5% annually.