These revenues are expected to hit 80 per cent of the figure for 2014 in 2022. - North America’s pressure pumping industry is likely to reach only 100 per cent of its previous peak in 2023. - It is not expected that the offshore drillers and seismic contractors will see a full recovery until 2027. “As for the offshore market, we expect the recovery to be slower than for onshore and North American services. The offshore market bottomed out in 2018, and it will take some time to turn around fully, as capital investments are ramping up slowly and some cost efficiencies have yet to be realised,” he noted.

Source: The North Africa Journal March 22, 2019 06:00 UTC