BackgroundThe role of the oil field service provider in the oil and gas sector is a dynamic one. Over the pastfew years these companies, which were once content to provide support services such as drillingand cementing, are becoming more ambitious with their strategic choices. However, the 2014-2015 oil price fall has also meant that oil field service providers like Schlumberger, Halliburton,Transocean and Weatherford have had to rethink their strategic options to remain competitive inan increasingly turbulent sector. Albert Einstein once wrote that he would rather have been a plumber than a physicist becauseof the independence it would allow him. Faced with the growing power of big oilfield service firms playfully derided as plumbers by some in the industry many oil men might now feel the sameway . (Redall, B, Reuters.com, November 2012)The link to this article can be found herehttp://www.reuters.com/article/us-fieldservices-powerstruggleidUSBRE8AC05S20121113#y2LttEqUfwzf4Kja.97 .with nearly 59,000 layoffs, including 9,000 from Schlumberger and 8,000 at Weatherford,nearly 7,000 at Baker Hughes and 6,600 at Halliburton (Helman, C, Forbes.com, May 2015)The link to this article can be found herehttp://www.forbes.com/sites/christopherhelman/2015/03/16/oil-layoffs-itemized-75000-andcounting/Assignment Task Choose one oil field service provider and report on its position in the sector. The report shouldcover the period from the beginning of 2014 to the present day. The report should analyse thecurrent state of the chosen oil field service provider, and then consider the strategic optionsavailable to that provider. The report should include the use of appropriate academic model(s)when considering the strategic options available to the chosen firm.Total Marks for Assignment: 100Please prefer Halliburton oil service companystructure of the work:introductionMain bodyanalyse the current situation of your chosen oil field service provider (2014-2016) Analyse the different types of strategic options available to the firm with use of academic model.put forward one strategic option out of the ones you have analysed as a recommendation and provide a justification of your choice.conclusion.