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Midstream: Distribution
Majors
Major Oil Companies (also called Integrated Oil Companies – IOCs) also operate assets in other segments
of the industry.
National Oil Companies (NOCs) are those industry participants that are owned and managed by
governments around the world.
Independents exist in each segment of oil and gas, and are not integrated into other segments.
Oilfield Services provide the specialized equipment, services and technical skills needed for exploring,
drilling, completing, testing, producing and maintaining. Oilfield services and supply companies do not
typically produce oil and gas or own the assets that contain hydrocarbon reserves. At a typical drilling
well site, there could be 30 or more different oilfield service companies handling the mechanical,
technical and analytic operations needed to successfully drill and complete a well.