Oil Drilling and Production: Development of Specialized Equipment for Oil Drilling and Production

Release Date:

2020-12-01 10:02

Source:

China Oil drilling and production The specialized equipment industry has maintained rapid growth in recent years, from From 2003 to 2011, the industry’s asset base and market size recorded average annual growth rates of 37.48% and 44.76%, respectively. In 2011, total industry assets reached RMB 137.351 billion, while the market size stood at RMB 169.694 billion.

From January to February 2012, China’s dependence on crude oil imports reached 57.9%, indicating a continued rise in its reliance on foreign crude. To safeguard national energy security, China will continue to accelerate oil exploration and development. The National Twelfth Five-Year Plan explicitly states: “Intensify the exploration and development of oil and gas resources, maintain stable domestic oil production, promote rapid growth in natural gas output, and facilitate the development and utilization of unconventional oil and gas resources, such as coalbed methane and shale gas.” Against the backdrop of rapidly growing global upstream oil and gas investment, coupled with significant production gaps in key oil and gas markets and the impetus provided by the “going global” strategies of the three major state-owned oil companies, oil and gas exploration and production investment is expected to achieve steady and rapid growth, which will be beneficial to China. Oil drilling and production Dedicated equipment industry.

Given China’s current energy demand situation, it is expected that China’s Oil drilling and production The equipment industry will continue to experience robust growth for the foreseeable future. Based on the current domestic and international economic situation, combined with Based on sales revenue data for China’s oil drilling and production equipment industry from 2003 to 2011, along with China’s economic growth data, a rough estimate of the industry’s sales growth in 2012 is as follows: The elongation is 44.76%. The drilling equipment industry achieved sales revenue of RMB 245.643 billion.

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