Defining the technological takeover of oilfield service companies in the global oil game

Oilfield service companies are the technological leaders of the global oil and gas industry. Successful Oilfield service companies are currently competing with supermajors in numerous aspects such as monetization, market share, technological advancement, offering specialized knowledge, conducting mega projects and having advanced technological capabilities. International oil companies have been in the oil game since day one and were considered as the main player in the oil and gas industry, but depending on the evidences gathered in this study, oilfield service companies with less experience, are winning the technological race over the other players. In this article, we try rooting this technological takeover and also discuss the international oil companies’ road to success. Oilfield service companies have gained a better position since the outsourcing wave in the 90s and afterward tried to achieve and maintain the pillars of powers in the oil and gas industry in order to survive and meet their customers’ demands. Now, most of the players’ project fulfillment and success are partially/fully dependent on the Oilfield service companies’ performance as they are the main supplier in the oil and gas industry.