Turkmenistan Oil & Gas Upstream Market Size, Growth | 2031

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

Author : Raksha Sharma

Fact-checked by : Vineet Pandey

Editor : Swapnil Hedau

Report Description

The Turkmenistan oil & gas upstream market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 1% during 2023–2031. The growth of the market is expected to rising demand for petroleum, petrochemical products, and development of new drilling activities.

Oil & gas are the mixture of hydrocarbons that are formed under the sedimentary rocks of earth crust. They constitute of natural gas and crude oil. Based on the process of making them into finished products, the oil & gas industry is divided into upstream, midstream, and downstream. The upstream sector is based on the organizations that involves in drilling and production of oil & gas. It is further segmented into onshore and offshore region. Onshore activities are on land, while the offshore activities are associated with the sea. Midstream businesses focus on the transportation of raw material for further processing into finished products. Downstream are the refineries that convert crude oil to customer ready products such as gasoline, diesel, and aviation turbine fuel.

Turkmenistan Oil and Gas Upstream Market Outlook

The major part of the oil & gas industry products are gasoline and fuel oil. Petroleum is an essential material for a large number of chemical products, including drugs, manures, solvents and plastics.

Turkmenistan Oil & Gas Upstream Market Trends, Drivers, Restraints, and Opportunities

Rising exploration of oil wells is expected to drive the market growth in the country.
The development of new legislation in line with international standards is anticipated to propel the market growth during the forecast period.
Technology and integrated advancements in the oil & gas industry is anticipated to stimulate the market expansion.
Formation of new routes for transportation of resources through multi-dimensional pipeline channels are estimated to drive the market expansion in the coming years.
Oil & gas exploration has diminished somewhat in the course of recent years due to advanced mechanical requirements and government regulations. Thus, such factors can create challenges for the market growth.
Rapid growth of the renewable industry can inhibit the market growth in the projected timeline.
The oil & gas industry is the key driver for the country’s economy and create lucrative opportunities for market players in the projected timeline.

Scope of Turkmenistan Oil & Gas Upstream Market Report

The report on the Turkmenistan oil & 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	Turkmenistan oil & gas upstream - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Locations (Offshore and Onshore)
Geographical Zone	Turkmenistan
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Dragon Oil PLC; China National Petroleum Corp; Eni SpA; Buried Hill Energy; and Hyundai Energy & Construction Co.

Turkmenistan Oil & Gas Upstream Market Segment Insights

Onshore segment is anticipated to grow at a rapid pace

Based on locations, the market is segmented into onshore and offshore. The onshore segment is expected to grow at a rapid pace during the forecast period as most of the countries’ oil reserves are produced on the onshore region. Moreover, increasing focus of country to export major energy resources is driving the growth of the market segment.

Large amount of country’s onshore oilfields is located in the Garashyzlyk and South Capian basin area, situated in the western part of country. Turkmenistan accounted for key natural gas reserves. It has large gas fields such as Murgab basin, South Caspian basin, and Southeast Amu Darya basin. Dauletabad gas field is the oldest Turkmenistan gas producing field of Amu Darya basin.

The COVID-19 pandemic has resulted into a large decline in the human and industry activity, which in turn, has plummeted the oil & gas revenue. However, the relaxation in restriction is resulting into the increase in the oil & gas drilling activities. On the other hand, the offshore segment is anticipated to grow at a healthy rate in the coming years due to the increasing technological advancements, which is expected to reduce the cost of exploration activities in the offshore location.

Segments

The Turkmenistan oil & gas market has been segmented on the basis of

Locations

Onshore
Offshore

Country

Turkmenstan

Key Players

Dragon Oil PLC
China National Petroleum Corp
Eni SpA
Buried Hill Energy
Hyundai Energy & Construction Co.

Competitive Landscape

Key players competing in the Africa endoscopy device market are Dragon Oil PLC; China National Petroleum Corp; Eni SpA; Buried Hill Energy; and Hyundai Energy & Construction Co. Some of these players are adopting several business strategies, which includes acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to enhance their market share.

Turkmenistan Oil and Gas Upstream Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil & 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 & 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 & Gas Upstream Market - Supply Chain
  4.5. Global Oil & Gas Upstream Market Forecast
     4.5.1. Oil & Gas Upstream Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil & Gas Upstream Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Oil & Gas Upstream Market Absolute $ Opportunity
5. Global Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
6. North America Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
7. Latin America Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
8. Europe Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
9. Asia Pacific Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil & 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 & 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 & Gas Upstream Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Oil & Gas Upstream Market: Market Share Analysis
  11.2. Oil & Gas Upstream Distributors and Customers
  11.3. Oil & Gas Upstream Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Dragon Oil PLC
     11.4.2. China National Petroleum Corp
     11.4.3. Eni SpA
     11.4.4. Buried Hill Energy
     11.4.5. Hyundai Energy & Construction Co.