China upstream oil & gas market has been estimated at USD XX billion in 2015 and is projected to reach USD XX billion by 2021, at a CAGR of XX% during the forecast period from 2016 to 2021.
The oil & gas upstream business segment is the first chronological link in the chain of petroleum industry. This segment works through high-tech exploration and production methods; utilizes specialized controls and computer applications for developing oil sands and heavy oil in cold-climates, and in the harshest offshore environments. Starting with the aerial surveys, followed by surface observation and later exploring beneath the earth’s surface through seismic surveys is a challenge for this sector. Furthermore, this activity has a tough aim of enhancing oil recovery, while also managing the environmental impact. Crude oil is the most actively traded commodity in the world and the market is dominated by large conglomerates that are competing for ever dwindling resources, thus creating a stronger market rivalry.
This multi-faceted environment has been capable of adapting to the technological advancements such as digitization, robotics and analytics, in turn fueling the midstream and downstream processes. In 2015, there was an increase in supply and a decline in demand that caused a systemic imbalance for the economies around the world. China is expected to fill the production backlog by completing the drilled-but-uncompleted (DUC) wells, as a result of the price of crude oil settling at a profitable rate.
China upstream market has reserves of oil, natural gas and also the natural gas liquids. Presently, the crude oil reserves are XX billion barrels, the natural gas reserves are XX trillion cubic feet and the reserves of natural gas liquids are XX billion barrels.
Key Deliverables in the Study
- China upstream oil & gas market analysis, with assessments and competition analysis on a regional scale
- Market definition along with the identification of key drivers and restraints
- China upstream oil & gas market report presents an overview of the main economic, political, environmental and regulatory aspects to consider when investing in the sector
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market
- Extensively researched competitive landscape section with profiles of major companies along with their market share
- Identification and analysis of the macro and micro factors that affect China upstream oil & gas market on both global and regional scale
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
- A wide-ranging knowledge and insights about the domestic and international players in this industry and the key strategies adopted by them to sustain and grow in the oil & gas market
