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Upstream Oil And Gas: An Evolving Ecosystem

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Executive Summary

The competitive terrain in oil and gas exploration and production (E&P) has shifted in the last decade. Boundaries that once defined markets and separated the three major groups of competitors - international oil companies (lOCs), national oil companies (NOC5), and oil-field-service (OFS) companies - have blurred. Capabilities and ambitions now increasingly overlap, and organizations that are competitors in one arena often partner in others. Between 2000 and early 2003, NOC5 and OFS companies financially outperformed lOCs, supported by surging oil prices and constrained supply markets through much of the period.

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