In 2017, the Oil and Gas Drilling Support Services industry is expected to generate $35.8 billion. Over the five years to 2017, revenue has been declining at an annualized rate of 1.7% per year. Since the second half of 2014, international oil prices have been falling. As such, major oil companies have reduced investment in oil and gas exploration and development, resulting in a significant reduction in the overall workload of the oil and gas service industry. Revenue has showed a downward trend in the three years to 2017.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)...purchase to read more.

Industry Statistics & Market Size
Revenue
$36bn
Annual Growth 12-17
-1.7%
Forecast Growth 17-22
x.x%lock
Profit
x.x%lock
Employment
272,766
Businesses
146
Market Share of Companies
shopping_cartPURCHASE OPTIONS Whats in this report faqs Download Sample
IBISWorld client - ADP Watch Testimonial
... DigiCert Seal

Industry Report - Industry SWOT Analysis Chapter

Over the decade to 2022, industry value-added is estimated to increase 0.3% per year, which is lower than that of China's GDP (6.5% per year) over the same period.There has been a trend toward oil and gas drilling companies outsourcing drilling support services to specialized service companies with technology and price advantages in drilling, well logging, derrick erection and related services. Drilling companies also rent equipment such as drilling platforms from drilling service companies. This growing trend will contribute to more industry demand.However, global economic growth has been modest in recent years, which has led to decreased demand and prices for crude oil and natural gas. Due...purchase to read more.

Additional Insights for the Oil & Gas Drilling Support Services Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil & Gas Drilling Support Services Industry are

  • Provision of a related range of mining support services
  • Good management of projects to be time efficient, cost efficient, etc.
  • Provision of high-quality services to establish good reputation

    • IBISWorld analysts also discuss how external factors such as Downstream Demand - Oil and Gas Extraction and Industry Systems and Technology - Petroleum Exploration (Own Account) in the Oil & Gas Drilling Support Services industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    Industry Products

    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 services
  • Oil well services
  • Supplies of equipment and chemicals
  • Transportation
  • Other mining services
    • Industry Activities
  • Well testing and logging
  • Well cementing and completion
  • Directional and vertical drilling
  • Underground operations and oil testing
  • Cleaning out, bailing and swabbing wells
  • Derrick erection, repair, removal and related services
    • Table of Contents

    About this Industry

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources

    Industry at a Glance

    Industry Statistics Snapshot
    Industry Structure
    Executive Summary

    Industry Performance

    Executive Summary
    Key External Drivers
  • Downstream Demand - Oil and Gas Extraction
  • Industry Systems and Technology - Petroleum Exploration (Own Account)
  • World price of crude oil
  • Pervasive Outsourcing - Contract Mining Function

    • Current Performance
    Investment in exploration and developmentService range expansion and technology improvementCompetitive landscapeIndustry performanceExports
  • Chart: Revenue Growth

    • Industry Outlook
  • Table: Oil & Gas Drilling Support Services Industry Revenue Outlook

    • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil & Gas Drilling Support Services Industry Lifecycle vs The Economy

    • Products & Markets

    Supply Chains
    Key Buying Industries
  • Oil & Gas Drilling

    • Key Selling Industries
  • Scientific Instrument Manufacturing

    • Products & Services
  • Drilling services
  • Oil well services
  • Other mining services
  • Supplies of equipment and chemicals
  • Transportation
  • Chart: Oil & Gas Drilling Support Services Industry Products and Services Segmentation

    • Demand Determinants
  • Development of the Oil and Gas Drilling industry in China
  • World prices of oil and gas
  • Technology
  • Cost advantages
  • Development of alternative energy

    • Major Markets
  • On-land oil and gas mining projects
  • Offshore oil and gas mining projects
  • Exports
  • Chart: Major Market Segmentation for the Oil & Gas Drilling Support Services Industry

    • International Trade
    Business Locations
    Chart: Business Locations by State

    Competitive Landscape

    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Rent and utilities
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Oil & Gas Drilling Support Services

    • Basis of Competition
  • Technology
  • Service quality and reputation
  • Range of services
  • Pricing
  • Relationships with downstream oil and gas companies
  • External competition

    • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil & Gas Drilling Support Services Industry

    • Industry Globalization

    Major Companies

    China National Petroleum Corporation, China Petrochemical Corporation, China National Offshore Oil Corporation,
  • Table: China National Petroleum Corporation - financial performance
  • Table: China Petrochemical Corporation - financial performance
  • Table: China National Offshore Oil Corporation - financial performance

    • Operating Conditions

    Capital Intensity
  • Chart: Level of Capital Intensity for the Oil & Gas Drilling Support Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

    • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

    • Regulation & Policy
    Industry Assistance

    Key Statistics

    Table: Industry Data for the Oil & Gas Drilling Support Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Total Assets (2008-2022)

    • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data

    Jargon & Glossary

    Cluster Drilling
  • Drilling several directional oil wells from the same point to save costs and land.
    • Directional Drilling
  • The practice of drilling non-vertical wells, involving intentional deviation of a wellbore from the vertical.
    • Horizontal Drilling
  • Drilling horizontal wellbores, including a selection of appropriate down-hole motors and survey equipment, drill string design, and use of appropriate bits and rig equipment.
    • Jack-Up Drilling Platform
  • A type of mobile offshore oil and gas drilling platform that is able to stand still on the sea floor, resting on a number of supporting legs. The most popular design uses three legs.
    • Multiphase Meter
  • A device that can register individual fluid flow rates of oil and gas when more than one fluid is flowing through a pipeline.
    • Semi-Submersible Drilling Platform
  • A seagoing, self-propelled barge that rides at anchor, stands on partially submerged vertical legs on submerged pontoons, and serves as living quarters and a base for operations in offshore drilling.
    • Well Cementing
  • The grouting of oil wells with hydraulic cement that has a slow setting rate under the high temperatures obtained in oil wells.
    • Well Logging
  • The technique of analyzing and recording the character of a formation penetrated by a drill hole in petroleum exploration and exploitation work.
    • What Our Customers Say
    Why buy this report?

    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.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Oil & Gas Drilling Support Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Oil & Gas Drilling Support Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Oil & Gas Drilling Support Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Join IBISWorld today

    Become a Member shopping_cartPURCHASE OPTIONS

    Contact Us

    Want to speak to a representative? Call us.

    phone 1-800-330-3772    OR     Inquire Here
    clear