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 Products Chapter
Drilling services form the largest service segment of this industry, and includes directional drilling, vertical drilling and horizontal drilling. This service segment requires highly skilled workers. Due to the rapid growth in other segments, the share of this segment is expected to decrease slightly over time.
Oil well services
Oil well services include a wide range of support activities including well testing, well logging, oil testing, well cementing and well completion. Such services rely heavily on technology as the service is generally conducted via computer or digital devices. The share of this service segment is expected to remain steady in the future... purchase to read more