Industry Analysis & Industry Trends
In 2015, the Oil and Gas Drilling Support Services industry is expected to generate $39.2 billion. Over the past five years, revenue has been growing at an annualized rate of 5.2% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.6% of revenue in 2015 – although low, profitabilty has been rising.
A major feature of this industry is the existing oligopoly among the three state-owned oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC). In 2015, their combined market share is estimated to be 94.0% of industry revenue. There are about 150 firms operating in this industry, employing 312,505 people with total wages of $7.3 billion.... purchase to read more
Industry Report - Industry Locations Chapter
The distribution of oil and gas drilling support service companies depends on the geological locations of oil fields and prospecting activities in China. Industry revenue comes mainly from Tianjin, Sichuan province, Henan province and Liaoning province.
Tianjin has two major oil fields: Dagang oilfield and Tianjin Bohai oilfield (affiliated to CNOOC). Tianjin Bohai oilfield is the largest production base for CNOOC in China. These factors have attracted companies engaged in the Oil and Gas Drilling Support Services industry to Tianjin. In 2015, with an estimated 5.4% of total establishments and 12.8% of total employees, Tianjin is expected to account for 16.5% of industry revenue.
Sichuan province is a major reserve region for natural gas in China... purchase to read more