The oilfield services industry in Europe plays a critical role in the energy sector, providing essential support activities ranging from drilling to production enhancements. Companies in this field include equipment manufacturers, engineering firms, and consultancy groups specializing in various aspects of oil and gas extraction. As the industry evolves, there's a growing emphasis on sustainability and technological innovation, with many firms investing in cleaner energy solutions alongside traditional oilfield services. Europe’s push for energy independence and carbon reduction means that the sector is adapting through digitalization and efficiency improvements, paving the way for a more sustainable future in energy.


The collection of investors listed here includes a mix of corporate giants and private equity firms. Headquartered in key European locations such as London, Stavanger, and Oslo, these firms vary significantly in size, employee count, and historical foundations—ranging from established companies like Shell, founded in 1907, to newer entities like Blue Water Energy, established in 2011. In 2024 alone, these investors executed a remarkable number of deals, contributing to the growth and fortification of the oilfield services landscape.


Top 15 Oilfield Services Investors in Europe


1. EV Private Equity


EV Private Equity is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 2002. The firm specializes in energy technology and sustainable investments, partnering with management teams to enhance business strategies and drive emissions reduction in energy-intensive sectors. Notably, EV Private Equity has made significant investments in the oilfield services industry, including the acquisition of Enhanced Drilling in August 2019, which underscores their commitment to this sector. They have also participated in funding rounds for companies such as Reach Production Solutions and Workover Solutions, further solidifying their presence in the oilfield services market. Their focus on responsible investment practices positions them as a leader in the transition to a sustainable energy future, while still maintaining a foothold in traditional oilfield services.


2. Shell

  • Website: shell.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1907
  • Headcount: 10001+
  • Number of deals in 2024: 20
  • LinkedIn: shell

Shell plc is a multinational oil and gas company based in London, England, founded in 1907. It operates across the energy and chemicals sectors, providing essential products such as fuels, lubricants, and chemical solutions. Shell is involved in the extraction, refining, and distribution of oil and gas, serving a diverse range of industries globally. As an investor, Shell has made significant contributions to the oilfield services sector through its venture arm, Shell Ventures. Notable transactions include a Series A investment in Quantico Energy Solutions, which focuses on data-driven solutions for shale drilling, and a Series C investment in Veros Systems, an industrial AI company that enhances operational efficiencies in the energy sector. Additionally, Shell's spinout, Salamander Solutions, received funding from Shell Ventures, further demonstrating their commitment to advancing technologies that support oilfield services. Overall, Shell's investment activities align closely with the oilfield services industry, making them a relevant player in this space.


3. Equinor

  • Website: equinor.com
  • Type: Corporate
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1972
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, Equinor has a workforce of over 10,000 employees and is committed to becoming a net-zero emissions entity by 2050. The company serves a diverse customer base, including governments and industries, providing energy solutions that address climate challenges while ensuring energy security. Equinor has made several notable investments in the oilfield services sector, including a significant equity investment in Upwing Energy, which is developing downhole gas compressors, and participation in funding rounds for Ambyint, a company specializing in AI-driven oil and gas production optimization. These transactions highlight Equinor's active role in advancing technologies that enhance oilfield services and production efficiency.


4. HitecVision

  • Website: hitecvision.com
  • Type: Private Equity
  • Headquarters: Stavanger, Rogaland, Norway
  • Founded year: 1985
  • Headcount: 51-200
  • LinkedIn: hitecvision

HitecVision is a private equity investment firm based in Stavanger, Rogaland, Norway, founded in 1985. The firm specializes in the European energy sector, focusing on providing institutional capital to energy production and infrastructure projects with an emphasis on sustainability and the energy transition. HitecVision manages private equity funds and collaborates with various stakeholders to drive growth in renewable energy and related industries. Notably, HitecVision has been involved in several significant transactions within the oilfield services context, including the acquisition of Ross Offshore in 2008, Apply in 2007, AXON Energy Products in 2008, and Atlantica Tender Drilling in 2011. These transactions highlight HitecVision's active role in the oilfield services sector, making them a relevant player in this industry.


5. TotalEnergies


TotalEnergies is a corporate investor based in France, founded in 1924, and employs over 10,000 people. The company focuses on producing and marketing a diverse range of energy solutions, including oil, gas, and renewable energy. TotalEnergies is committed to carbon neutrality by 2050, addressing the need for sustainable and reliable energy sources. Notably, they have made significant investments in the oilfield services sector, including the acquisition of a majority interest in Savanna Energy Services in 2017, which enhances their operational capabilities in drilling and well services. Additionally, their acquisition of a 16.33% stake in Libya's Waha Oil concessions in 2023 for $450 million provides them access to substantial oil reserves and production capabilities. These strategic moves highlight TotalEnergies' active role in the oilfield services industry while also pursuing broader energy solutions.


6. RSK Group

  • Website: rskgroup.com
  • Type: Corporate
  • Headquarters: Helsby, England, United Kingdom (UK)
  • Founded year: 1989
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: rsk-group

RSK Group is an environmental consultancy and engineering services company based in the UK, founded in 1989. With over 10,000 employees, RSK provides a wide range of services including environmental assessments, engineering solutions, and sustainability consulting across various sectors such as energy, healthcare, and construction. In recent years, RSK has expanded its capabilities through strategic acquisitions relevant to the oilfield services industry. Notably, they acquired Axis Well Technology in June 2023, enhancing their offerings in well technology services. Additionally, their acquisition of Proeon Systems in August 2022, which provides industrial control and safety services, further strengthens their position in sectors that intersect with oil and gas operations. RSK's commitment to sustainability and environmental solutions positions them as a key player in supporting the oilfield services industry in navigating environmental challenges.


7. EQT Group

  • Website: eqtgroup.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 1001-5000
  • Number of deals in 2024: 30
  • LinkedIn: eqt-partners

EQT Group is a private equity investment firm based in Stockholm, Sweden, founded in 1994. The firm specializes in a diverse range of investment strategies, including private equity, infrastructure, real estate, growth equity, and venture capital. EQT serves institutional investors by providing expertise in managing varied investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the oil and gas sector, including the acquisition of Aker Solutions in December 2013 for approximately $663 million, which is a key player in oilfield services. Additionally, EQT Infra's acquisition of Tampnet in October 2012 for €202 million highlights their commitment to enhancing communication networks for offshore oil and gas operations. These transactions underscore EQT's active role in the oilfield services industry, despite their broader investment focus.


8. Blue Water Energy LLP


Blue Water Energy LLP is a private equity firm based in London, England, founded in 2011. The firm specializes in investments that support the energy transition, providing growth capital and strategic support to businesses in the energy sector. They focus on partnering with companies that are innovating in energy efficiency and renewable energy solutions. Notably, Blue Water Energy has made significant investments in the oilfield services sector, including the acquisition of Varel Energy Solutions in October 2019, which specializes in drilling and completion products, and Pipeline Technique Limited in May 2019, a provider of pipeline welding and coating services. These transactions highlight their active role in the oilfield services industry, alongside their broader commitment to sustainable energy practices.


9. Bgf

  • Website: bgf.co.uk
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 53
  • LinkedIn: bgfinvestments

BGF Investment Management Limited is a venture capital firm based in London, England, founded in 2011. The firm provides growth funding and value creation support to small and mid-sized businesses in the UK and Ireland, focusing on addressing the funding gap in the market. BGF has been involved in several notable transactions within the oilfield services sector, including a £7.8 million investment in Aberdeen-based STATS Group, a £2.25 million equity investment in Aubin Group, and a recent acquisition of a minority stake in Glacier Energy Services. These investments demonstrate BGF's commitment to supporting the growth and development of companies in the oilfield services industry, alongside their broader investment strategy.


10. Maven Capital Partners

  • Website: mavencp.com
  • Type: Venture Capital
  • Headquarters: Glasgow, Scotland, United Kingdom (UK)
  • Founded year: 2009
  • Headcount: 51-200
  • Number of deals in 2024: 25
  • LinkedIn: maven-cp

Maven Capital Partners is a private equity firm based in Glasgow, Scotland, founded in 2009. The firm specializes in providing growth capital and investment solutions to small and mid-sized businesses across various sectors, including technology and healthcare. Notably, Maven has made significant investments in the oilfield services industry, such as the acquisition of EFC Group in December 2009 for approximately $16.2 million, which enhances their portfolio in this sector. Additionally, in March 2011, Maven led an £8.5 million funding package to acquire two oil and gas businesses, Roberts Pipeline Machining and Wellclad, which were consolidated under the brand Glacier Energy Services. This new group aims to deliver a range of advanced technologies from their manufacturing facility in Central Scotland. These transactions highlight Maven's active role in supporting and growing companies within the oilfield services industry.


11. VINCI Energies

  • Website: vinci-energies.com
  • Type: Corporate
  • Headquarters: Nanterre, Île-De-France, France
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 13
  • LinkedIn: vinci-energies

VINCI Energies is a corporate investor based in Nanterre, Île-De-France, France, specializing in engineering and infrastructure solutions. Founded in 2003, the company has a workforce of over 10,000 employees and focuses on energy infrastructure, industrial performance, digital transformation, and sustainable building management. Notably, VINCI Energies has made significant strides in the oilfield services sector, particularly through its acquisition of Mentor IMC Group in December 2013, which bolstered its oil and gas business. This acquisition allowed VINCI to expand its customer base in high-growth regions, contributing to a revenue of £60 million for Mentor in 2012. Additionally, VINCI's acquisition of Cobra IS in January 2022, which included energy contracting and renewable energy projects, further emphasizes its commitment to the energy sector, including oil and gas. Other acquisitions, such as enertech Energie und Technik GmbH and Electrix, showcase VINCI's broader focus on energy and process engineering, enhancing its portfolio in energy production and storage. Overall, VINCI Energies is positioned as a significant player in the oilfield services industry while also engaging in various other sectors.


12. Norvestor

  • Website: norvestor.com
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1989
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: norvestor-equity-as

Norvestor is a private equity firm based in Oslo, Norway, founded in 1989. The firm specializes in investment management and advisory services, focusing on partnering with medium-sized Nordic businesses to support their growth and development. Norvestor emphasizes sustainability and operational efficiency in its investments. Notably, the firm has made significant acquisitions in the oilfield services sector, including a 95% stake in Read Cased Hole, a Scottish oil & gas intelligence service, and the acquisition of Hydra Well Intervention, Future Production AS, and iSURVEY. These transactions highlight Norvestor's active role in the oil and gas industry, alongside its investments in other sectors such as IT services and property maintenance.


13. Mercuria


Mercuria Energy Group Ltd. is a global energy trading company based in Geneva, Switzerland, founded in 2004. The firm operates in the commodity markets with a strong focus on crude oil, natural gas, and renewable energy. Mercuria provides trading services and invests in sustainable projects, catering to businesses transitioning to net zero. Notably, they have been involved in several significant transactions relevant to the oilfield services industry, including a $55 million CAD Series B financing round for Validere, a Calgary-based oil and gas tech startup. This investment highlights their interest in technological advancements within the sector. Additionally, Mercuria participated in substantial debt financing for companies such as Oando, which raised $650 million, and Northwind Midstream Partners, which secured $700 million. These transactions underscore Mercuria's active role in supporting companies that are integral to the oil and gas supply chain.


14. Triton Partners


Triton Partners is a private equity investment firm based in Luxembourg, founded in 1997. The firm specializes in private equity and credit investments in European mid-market businesses, focusing on sectors such as Business Services, Industrial Tech, and Healthcare. Triton provides operational expertise and capital to help companies unlock their full potential, partnering with management teams to address challenges and drive growth. Notably, Triton has made significant investments in the oilfield services sector, including the acquisition of DeepOcean Group, where they became the majority owner, enhancing the company's balance sheet and liquidity. Additionally, their acquisition of FairWind A/S and OCU Group demonstrates their interest in companies that may have synergies with energy and infrastructure services, which are relevant to the oilfield services industry.


15. Ferd AS

  • Website: ferd.no
  • Type: Private Equity
  • Headquarters: Oslo, Oslo, Norway
  • Founded year: 1998
  • Headcount: 51-200
  • LinkedIn: ferd-as

Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through diverse business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has a notable track record in the oilfield services sector, having participated in significant transactions such as the post-IPO equity investment in Petroleum Geo-Services in 2015, which is a key player in the oilfield services industry. Additionally, Ferd jointly acquired Aibel in 2012, a company that specializes in offshore wind and energy services, indicating their commitment to the energy sector. They also acquired Servi Group in 2013, further expanding their portfolio in related industries. More recently, in 2023, Ferd acquired a stake in General Oceans, which includes companies in ocean technology, potentially relevant to offshore services. These transactions highlight Ferd AS's active engagement in the oilfield services and energy sectors, making them a significant player in this investment space.



Oilfield Services Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
EV Private EquityStavanger, Rogaland, Norway11-5020020
ShellLondon, England, United Kingdom (UK)10001+190720
EquinorStavanger, Rogaland, Norway10001+19726
HitecVisionStavanger, Rogaland, Norway51-20019850
TotalEnergiesFrance10001+192411
RSK GroupHelsby, England, United Kingdom (UK)10001+19893
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
Blue Water Energy LLPLondon, England, United Kingdom (UK)11-5020110
BgfLondon, England, United Kingdom (UK)51-200201153
Maven Capital PartnersGlasgow, Scotland, United Kingdom (UK)51-200200925
VINCI EnergiesNanterre, Île-De-France, France10001+200313
NorvestorOslo, Oslo, Norway11-5019893
MercuriaGeneva, Geneva, Switzerland1001-500020047
Triton PartnersLuxembourg201-50019976
Ferd ASOslo, Oslo, Norway51-20019980


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