In 2018, the Oil and Gas Drilling Support Services industry is expected to generate $43.8 billion. Over the five years to 2018, revenue has been increasing at an annualized rate of 0.3% 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. International oil prices recovery since 2017, revenue was largely increased. Revenue has showed an upword trend since 2017...purchase to read more.

Industry Statistics & Market Size
Revenue
$44bn
Annual Growth 13-18
0.3%
Forecast Growth 18-23
x.x%lock
Profit
x.x%lock
Employment
289,000
Businesses
149
Market Share of Companies
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Industry Report - Industry Analysis Chapter

During the five years to 2018, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 0.3%. The industry's development has depended on China's stable investment in the exploration and development of oil and gas fields, the specialization and integration of drilling support service companies and improvements in technology.Consumption of oil and gas in China grew considerably during the past decade. Crude oil consumption in China has been increasing at an annualized rate of 4.4% in the five years to 2018. However, China's crude oil output has been growing just 1.3% per year over the same period. Automobiles consume over one-third of all refined oil in China. The sales volume of automobiles in China increased from 18.5 mi...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..

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    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 (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Total Assets (2009-2023)

    • 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 provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

    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.

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