Where the businesses sit.
WHAT THE SECTOR CONTAINS
- Upstream: exploration and production
- Midstream: transport, storage and processing
- Downstream: refining, distribution and retail
WHERE SERVICE BUSINESSES OPERATE
Supplying goods and services to operators at every stage.
WHAT SERVICE BUSINESSES DO
Engineering and technical services Equipment supply and maintenance Fabrication Inspection and testing Logistics and marine support Catering and facilities Manpower supply Waste management Consultancy
WHY THAT MATTERS
Most businesses in this sector never touch a well; they supply those who do.
WHAT MAKES THE SECTOR DISTINCT
Very high safety requirements Heavy documentation and qualification Long procurement cycles Large contract values Slow payment Local content requirements
WHY SLOW PAYMENT DESERVES EMPHASIS
It is the commonest cause of failure among service companies, regardless of contract value.
WHAT DETERMINES SUCCESS
Qualification and registration Safety record Technical capability Ability to fund long payment cycles Relationships
WHAT MOST ENTRANTS UNDERESTIMATE
The cost and time of qualification, and the working capital required.
WHAT TO TREAT THIS CATEGORY AS
Business guidance, with technical, safety and regulatory requirements taken from the relevant authorities and standards.
