Upstream Petrotechnical Training Services Market 2021 - Reaching US$ 1,315.3 Mn by the end of the forecast period

Upstream petrotechnical training services are designed to enhance productivity of the petrotechnical industry. The training services offer development opportunities that enhance knowledge, develop skills, and enrich the organization. There are two types of training, operational and domain training. National and independent oil and gas companies offer training to their employees. They offer both internal training services and external training services. In the internal training services, the company itself offers the training and in external training, third party companies provide the training services.The need for training services in the upstream sector is expected to grow over the forecast period in the light of profound technical developments in the field of drilling and completions, including horizontal drilling, extension, and hydraulic fracturing.

The global market for upstream petrotechnical training services is segmented based on training mode, training type, upstream sector, end-user, and geography. Based on training mode, the market is segmented into training courses, e-learning (third party), and simulator (immersive training). The training courses are further categorized into face-to-face, in-house, and online. In 2017, the training courses segment accounted for largest market share in terms of revenue of the global upstream petrotechnical training services market. Based on training type, the market can be divided into operational and domain training. Domain training accounted for highest market share in 2018 as oil and gas companies need to offer employee training to enhance their skills. Furthermore, technological advancement in the petrotechnical industry increases demand for training in order to adopt new processes. Operational training is classified into information management; and health, safety, and environment (HSE). Domain training is divided into geology & geophysics, petrophysics, surface facilities design and engineering, geomechanics, field operations and management, reservoir engineering, drilling engineering, production engineering, and economics & finance. Operational training segment is expected to expand at a high rate as need for training is continuous withregulations and protocols put in place regularly to monitor unlawful business activities, safety of workers, and environment safety measures. In terms of upstream sector, the market is segmented into exploration, development, and production. The exploration segment dominates the global upstream petrotechnical training services market, and its dominance is expected to continue over the forecast period. According to Occupational Safety and Health Administration (OSHA), workers have suffered injuries during oil and gas extraction. OSHA was established to assure safe and healthy working conditions for employees by setting and enforcing standards and by providing training, outreach, education, and assistance. Based on end-user, the market is divided into national oil companies and independent oil companies.

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North America is estimated to account for the highest share in 2018 in the global upstream petrotechnical training services market.The U.S. is the highest revenue generating country in the global upstream petrotechnical services market. Oil and gas companies in the U.S. are adopting training services due to technological advancement in the petrotechnical industry. Technological advancements have provided opportunities for the oil and gas industry to make the most of hydrocarbon reserves. In Europe, Russia has strong presence in the oil and gas industry. Companies are increasing their training expenditure per employee. For instance, PJSC Rosneft Oil Company, a Russian integrated energy company based in Moscow conducted 5,33,300 man-courses in 2017. In the upstream petrotechnical sector, the company has implemented 868 man-courses.

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This report on the global upstream petrotechnical training services market provides market revenue share analysis of the various vital participants. Some of the key players profiled in the report include The Society of Petroleum Engineers (SPE), International Association of Drilling Contractors (IADC), The European Association of Geoscientists and Engineers (EAGE), The Society of Exploration Geophysicists (SEG), American Petroleum Institute (API), Total S.A., Royal Dutch Shell, Baker Hughes (GE Company), Halliburton, Intertek Group plc., RPS Group PLC, PetroKnowledge, Novomet Group, Aucerna, International Human Resources Development Corporation (IHRDC), and Asia Edge Pte Ltd. (PetroEdge).

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