Multi-year downturn to hit service firms

THE services industry has started a transformation it has been forced into after enduring one of the worst years in second since the downturn in the oilfield service industry since the 1980s, and it looks increasingly likely that $US20 oil could make a comeback.

Multi-year downturn to hit service firms Multi-year downturn to hit service firms Multi-year downturn to hit service firms Multi-year downturn to hit service firms Multi-year downturn to hit service firms

According to figures collated by consultancy Rystad Energy, the average oilfield service purchases went down by almost 20% in 2015.

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