International markets including Latin America are now showing more robust upstream activity growth than North America, according to the top oilfield services firms.

The management teams of SLB, Halliburton Co., Baker Hughes Co. and Weatherford International plc said exploration and production (E&P) projects outside of North America, particularly in the offshore segment, drove incremental revenues during the third quarter.

Latin America generated $1.68 billion of revenue for SLB during 3Q, versus $1.51 billion in the same period last year and $1.62 billion in 2Q2023. The 4% sequential increase was “due to higher sales of production systems offshore Brazil, partially offset by lower revenue in Guyana,” management said. “Year-on-year, revenue grew 11%, led by higher sales of...