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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 | Jan 2013

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
$35bn
Annual Growth 07-12
10.6%
Annual Growth 12-17
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Profit
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Employment
390,240
Businesses
89
Industry Analysis & Industry Trends

In 2012, the Oil and Gas Drilling Support Services industry is expected to generate $34.9 billion. Over the past five years, revenue has been growing at an annualized rate of 10.6% per year. With rising labor costs and raw material prices, industry profit is estimated at 2.5% of revenue in 2012 – 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 2012, their combined market share is estimated to be 92.6% of industry revenue.... purchase to read more

Industry Report - Industry Investment Chapter

The labor to capital ratio represents the number of labor units used for every unit of capital. ACMR-IBISWorld uses total wages as a proxy for labor and depreciation as a proxy for capital. With a capital to labor ratio of 0.33:1, this industry is subject to a high capital intensity level. However, both wages and depreciation account for significant shares of industry revenue.

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... 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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