Oil and Gas Industry Overview

Support activities for oil and gas operations industry comprise establishments which provide support activities on a contract or fee basis for oil and gas operations such as exploration, drilling and extraction. This market comprises companies carrying out activities such as excavating slush pits and cellars, well surveying, running, cutting, pulling casings, tubes, and rods. It also includes cementing wells, shooting wells, perforating well casings, and cleaning out, bailing, and swabbing wells. This market does not include site preparation and related construction activities, geophysical surveying and mapping. Other support activities include acidizing oil and gas field wells, chemically treating oil and gas wells, gas well rig building, core drilling, logging wells, and servicing wells on a contract basis.

The oil downstream activities market in this report is segmented into refined petroleum products manufacturing and asphalt, lubricating oil and grease manufacturing segments.

Oil and gas upstream activities market in this report is segmented into crude oil & natural gas, oil and gas wells drilling services, and oil and gas supporting activities. Self-Assembling Rigs - Companies involved in providing support activities for oil and gas operations are offering self-assembling rigs to reduce operating costs and save time. Self-assembling rigs are automated rigs that can walk at up to 30 feet per hour, rotate 360 degrees, and can be operated with a remote control. Conventional oilfield drilling rigs require a crane to assemble them in pieces and thus consume more time. Self-assembling rigs ship in lower amount of loads, can assemble automatically, and move faster compared to conventional rigs. Self-assembling rigs are supported by control room with touchscreen and joysticks, and 200 sensors to monitor pneumatics, oil flow, and other processes. Major companies offering self-assembling rigs include Dragon Drilling Co., Stewart & Stevenson and Atlas Copco.

Capturing The Value Of Technology - The oil and gas industry has improved its technology or leveraged that of its service suppliers to match with the world’s increasing hydrocarbon demand. Many oil and gas companies have made use of digitization, IoT and robotics to increase production with limited investment .These technologies enabled oil and gas companies to substantially decrease production costs and increase production volumes. For instance, Shell saved about $1 million from its Nigerian operations by placing monitoring devices on its wellhead equipment to monitor operating conditions in the well , thus indicating the role of IT technologies to reduce production costs and increase production volumes. The oil and gas industry includes exploration, extraction, drilling, refining, transportation of oil and gas. Oil and gas market in this report is segmented into oil and gas upstream activities and oil and gas downstream activities.

The asphalt, lubricating oil and grease manufacturing market includes establishments manufacturing block, asphalt paving mixture, asphalt shingle, coating materials, petroleum lubricating oil and grease. Asphalt is a sticky, black and highly viscous liquid or semi-solid form of petroleum used for surfacing roads, flooring, and roofing Asphalt, lubricating oil and grease manufacturing market in this report is segmented into Asphalt and other petroleum products segments.

The crude oil and natural gas extraction industry comprises establishments engaged in crude petroleum and natural gas extraction and natural gas liquid extraction. The crude oil and natural gas market in this report is segmented into crude oil extraction and natural gas extraction.

The oil and gas wells drilling services industry includes companies primarily engaged in oil and gas wells drilling services for others on a contract or fee basis. This industry also includes contractors specializing spudding in, drilling in, redrilling, and directional drilling. This market covers outsourced drilling services sold on a contract basis to oil and gas extraction companies and does not include any in-house drilling services of oil and gas extraction companies.

The refined petroleum products manufacturing market comprise companies that convert crude petroleum to refined petroleum products such as gasoline, naptha, diesel fuel and liquefied petroleum gas and then sell these refined products. Petroleum refineries are large industrial complexes with extensive pipeline networks carrying crude oil and refined petroleum products between sub processing units. Revenues in this market represent the value of the different refined petroleum products. Refined petroleum products manufacturing market in this report is segmented into diesel, gasoline, fuel oil, kerosene, and others.