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 Investment Chapter
For every dollar spent on labor (including wages, management and administration and R&D), about 32 cens are invested in labor in this industry.
This industry uses high-technology equipment and facilities for oil and gas drilling support services, such as drilling and well logging. Enterprises constantly develop and use new equipment and technologies to improve their work efficiency. Existing equipment also requires frequent maintenance. Therefore, the industry has a high depreciation level.
Many skilled technicians and workers are also employed in the industry. In 2013, employment is estimated at over 375,021 people. Employees in this industry generally have strong technical backgrounds and are highly paid... purchase to read more