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Upstream majors are already moving into the renewable space
Nov 18: Oil & gas service providers, such as Saipem and Baker Hughes, are moving into renewable energy project
8Already, in 2014, non-upstream oil and gas activities accounted for 22 per cent of revenues among service suppliers. This share grew to 27 per cent in 2018.
8If pure-play contractors within drilling, well services and seismic – which don’t have much to offer outside the upstream oil and gas industry – are removed from the equation, activities outside of upstream accounted for nearly 30 per cent of last year’s revenues.
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