Oil Field Services Expenditure and Economic Growth: Prospects for Developing Countries

Governments in oil-exporting developing countries find the task of transforming oil revenues into productive and sustainable economic growth a significant challenge. At the same time, the other key contributor of this sector to the domestic economy - the market for oil and gas field services expenditure - continues to expand. This paper provides an overview of the procurement market in oil and gas exploration and production (E&P), and asks if sufficient effort is being made to realise its potential to grow the domestic economies of developing countries.