The main three oilfield services firms see international exploration and production (E&P) companies increasing activity, in particular in the offshore, and despite a slowdown in North America. They all reported growth in their Latin American businesses.

SLB Ltd. CEO Olivier Le Peuch said international offshore would drive the upstream industry through this decade.

“Second quarter revenue increased by more than 20% year-on-year in 14 of our 25 international geo-units. Most notably Saudi Arabia, United Arab Emirates, Mexico, Guyana, Brazil, Angola, Caspian and India all grew more than 30% over this period,” Le Peuch said in his company’s second quarter earnings call with investors. “SLB’s global reach shields us from regional fluctuation as we have recently seen in North...