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Oil & Gas Drilling Support Services in China: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Oil & Gas Drilling Support Services Market Research Report | Jul 2015

IBISWorld’s Oil & Gas Drilling Support Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Industry Statistics & Market Size
Revenue
$39bn
Annual Growth 10-15
5.2%
Annual Growth 15-20
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Profit
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Employment
312,505
Businesses
89
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

 


Industry ProductsRelated ReportsTable of Contents

What is the Oil & Gas Drilling Support Services Industry?

The Oil and Gas Drilling Support Services industry provides support services for oil and gas mining companies, including directional drilling, drilling ahead, underground operations, oil testing, well testing, well logging, derrick erection, derrick repair and derrick removal. Oil and gas prospecting activities are not included in this industry.

Industry Products
Drilling servicesOil well servicesSupplies of equipment and chemicalsTransportationOther mining services
 
Industry Activities
Well testing and loggingWell cementing and completionDirectional and vertical drillingUnderground operations and oil testingCleaning out, bailing and swabbing wellsDerrick erection, repair, removal and related services


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