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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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

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 Key Buyers Chapter

This industry is an oligopoly of three state-owned oil companies, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec) and China National Offshore Oil Corporation (CNOOC). Their combined market share is about 94.0% of industry revenue in 2015, representing a very high industry concentration level. The three companies control most of the oil and gas fields in China, both on land and offshore. Their service subsidiaries have technology advantages over other service companies.

Due to the industry's high entry barriers, private or foreign-funded enterprises are not likely to gain a high market share in the short term. Therefore, the industry concentration level is expected to remain steady... 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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