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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 2014

IBISWorld’s Oil & Gas Drilling Support Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$36bn
Annual Growth 08-13
3.2%
Annual Growth 13-18
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Profit
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Employment
375,021
Businesses
86
Industry Analysis & Industry Trends

In 2013, the Oil and Gas Drilling Support Services industry is expected to generate $36.1 billion. Over the past five years, revenue has been growing at an annualized rate of 3.2% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.0% of revenue in 2013 – although low, profit has recovered significantly from losses in 2009 due to the global recession.

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 2013, their combined market share is estimated to be 92.5% of industry revenue.... purchase to read more

Industry Report - Industry Analysis Chapter

During the five years to 2013, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 3.2%. The industry's steady development is due to China's significant investment in exploration and development of oil and gas fields, the specialization and integration of drilling support service companies and improvements in technology. The exploration and development of oil and gas fields is driven by growing domestic demand and rising global prices for crude oil and natural gas.

Consumption of oil and gas in China grew considerably during the past decade. Crude oil consumption in China has been increasing at an annualized rate of 5.9% in the five years to 2013. However, China's crude oil output has only been growing 2.0% per year over the same period... 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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