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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 2016

IBISWorld’s Oil & Gas Drilling Support Services market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Industry Statistics & Market Size
Revenue
$36bn
Annual Growth 11-16
1.0%
Annual Growth 16-21
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Profit
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Employment
285,337
Businesses
83
Industry Analysis & Industry Trends

In 2016, the Oil and Gas Drilling Support Services industry is expected to generate $36.5 billion. Over the five years to 2016, revenue has been growing at an annualized rate of 1.0% 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 2016.

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 Report - Industry Analysis Chapter

During the five years to 2016, the Oil and Gas Drilling Support Services industry in China has grown at an annual pace of 1.0%. 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 2016. 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

 


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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