Kuwait Oil and Gas Upstream Market Size, Growth Report 2031

Segments - Kuwait Oil and Gas Upstream Market by Locations (Offshore and Onshore) and Country - Kuwait Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

The Kuwait Oil and Gas Upstream Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3.5% during the forecast period, 2023 – 2031. The growth of the market is attributed to the rising imports & exports of the oil & gas, innovation of the new technologies, and increasing demand for various activities. The companies are trying to overcome and rearrange themselves from the Covid-19.

The oil and gas upstream includes the activities of exploration such as production activities, obtaining the rights of land, and creating surveys that are geological. The sale of natural and crude oil by organizations, partnerships, or sole traders, which tackle the activities of natural gas and crude oil production for pre-refining.

Kuwait Oil and Gas Upstream Market Outlook

The companies of oil and gas in Kuwait are investing highly in the technology of digital oilfield for increasing the production of oil & gas. The oilfields that are digital integrate advance hardware, software, and techniques of data analysis for the collection of real time data in the oilfield. It includes product surveillance, remote communication systems, visualization, and integrated decision making.

The digital technologies used in the oilfield includes electrical pumps that has advances function, drill bits with high performance, reservoir modelling, and seismic imaging. The oil and gas upstream are used in various applications such as tank management, well optimization, well test management, injection control, surface control management, and others. Covid-19 has highly affected the market as well as market players of the oil and gas upstream due to heavy lockdown imposed along with strict rules by the government.

Market Trends, Drivers, Restraints, and Opportunities

Increasing usage of natural oil & gas is expected to boost the market growth during the forecast period.
Continuous development activities taking place for oil & gas upstream acts as main factor driving the market expansion.
Rising use of the renewable energy is anticipated to hamper the market growth in the coming years.
Managing the products lead time acts as main challenges that can hinder the market expansion.
R&D investment and technological advancement oil & gas upstream is estimated to create lucrative opportunities for the market players.

Scope of Oil and Gas Upstream Market Report

The report on the Kuwait oil and gas upstream market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Kuwait Oil and Gas Upstream Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Locations (Offshore and Onshore),
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Kuwait Energy Plc.; Baker Hughes Co.; Kuwait Petroleum Corporation; Schlumberger Ltd.; and Saudi Arabian Oil Co.

Oil and Gas Upstream Market Segment Insights

Onshore segment is projected to account for a large market share

Based on locations, the Kuwait oil and gas upstream market is divided into offshore and onshore. The onshore segment is expected to constitute a key share of the market during the forecast period owing to innovative well discoveries, growing demand for crude oil & natural gas, and rising venture in oil & gas. Onshore is mainly utilized in Kuwait where typically onshore wells are positioned for oilfield service area.

Majorly all the production of crude oil in Kuwait comes from the onshore locations in the country. It fuels the economy of the county and growth of the population is anticipated to boost the market. Onshore facilities are grouped together in field for the natural gas and crude oil. Groups are attached with carbon steel tubes that send gas & oil to the processing and production facilities with the help of heating and chemical process.

On the other hand, the offshore segment is anticipated to expand at a rapid pace during the forecast period due to growing investment in bottomless & extreme deep water drilling actions along with subsea oil and gas resources. The offshore provides more domestic self-sufficiency for the natural resources.
It also decreases the cost of the oil related products for the consumer.

Offshore creates the job for the local people of the country and also supports the retirement and investment accounts. It contributes to the economic success, creates new habits, and provides a superior energy resources. Offshore uses one platform, which is either mobile or fixed. It is costlier than the onshore.

Kuwait Oil and Gas Upstream Market Locations

Segments

The Kuwait oil and gas upstream market has been segmented on the basis of

Locations

Offshore
Onshore

Country

Kuwait

Key Players

Kuwait Energy Plc.
Baker Hughes Co.
Kuwait Petroleum Corporation
Schlumberger Ltd.
Saudi Arabian Oil Co.

Competitive Landscape

Key players competing in the Kuwait oil and gas upstream market include Kuwait Energy Plc.; Baker Hughes Co.; Kuwait Petroleum Corporation; Schlumberger Ltd.; and Saudi Arabian Oil Co. Some of these players are engaged in several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.

Kuwait Oil and Gas Upstream Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil and Gas Upstream Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Oil and Gas Upstream Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Oil and Gas Upstream Market - Supply Chain
  4.5. Global Oil and Gas Upstream Market Forecast
     4.5.1. Oil and Gas Upstream Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil and Gas Upstream Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Oil and Gas Upstream Market Absolute $ Opportunity
5. Global Oil and Gas Upstream Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Oil and Gas Upstream Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Oil and Gas Upstream Demand Share Forecast, 2019-2026
6. North America Oil and Gas Upstream Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Oil and Gas Upstream Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Oil and Gas Upstream Demand Share Forecast, 2019-2026
7. Latin America Oil and Gas Upstream Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Oil and Gas Upstream Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Oil and Gas Upstream Demand Share Forecast, 2019-2026
8. Europe Oil and Gas Upstream Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Oil and Gas Upstream Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Oil and Gas Upstream Demand Share Forecast, 2019-2026
9. Asia Pacific Oil and Gas Upstream Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Oil and Gas Upstream Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Oil and Gas Upstream Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil and Gas Upstream Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Oil and Gas Upstream Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Oil and Gas Upstream Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Oil and Gas Upstream Market: Market Share Analysis
  11.2. Oil and Gas Upstream Distributors and Customers
  11.3. Oil and Gas Upstream Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Kuwait Energy Plc.
     11.4.2. Baker Hughes Co.
     11.4.3. Kuwait Petroleum Corporation
     11.4.4. Schlumberger Ltd.
     11.4.5. Saudi Arabian Oil Co.