Oil prices fell on the oil and gas industry is not a small shock, a heavy blow to the oil and gas industry to direct transmission to oil service industry.
  

Low oil prices, oil service enterprises are facing a crisis, and is unable to get up after a fall? Seize the opportunity or upstream?
At home and abroad to deal with.

"Low oil prices is not a bad thing, the industry is an opportunity, is business thinking and technology leap period." Liu Qing, director of strategic customer service director of national oil wells, said in an interview with reporters, the low oil prices will allow enterprises to consider a new way to make a living."

Thanks to a mature management system, rich performance, world-class technology and diversified market structure, the international oil service companies to cope with low oil prices shock wave seems slightly calm and handy.

 

In 2008 and 2014 the low oil price shocks, foreign oil service companies have chosen to "self strengthening" and corporate mergers and acquisitions, discharged its bubble to develop, improve its industrial chain, absorption advantages in the field of different enterprise restructuring to resist impact, Liu said.

  

And the way to deal with the impact of low oil prices, Liu Qing summed up for the two cross-border - one is the cross national boundaries, the two is across the border.

  

On the one hand, private enterprises in the domestic oil and gas market development in the field of space is small, and even can be said to be compressed that survives only in the crevice. So they go out and expand the overseas market, integration of resources, seeks the development, quite the trend of "domestic training field, the foreign main battlefield.

  

On the other hand, many oil service companies choose to cross the field, cross industry development, the business gradually from a single to diversified development, involving multiple areas of energy.

  

However, domestic and foreign oil service companies are aware of, only intensive resources, optimize resources, is no longer the yield as the first pursuit, but to proceed to optimize and adjust the production structure, cut inefficient inefficient production, the pursuit of high quality and high yield, to get out of the oil service industry "ice age".

Technological innovation to create an integrated service

Liu believes that the low prices of combat and oil service industry profits down the moment, enterprise integration and expansion of the dormant period, is a technique to explore the good time.

Oil service companies to fully understand the role of technological innovation in the market competition, and strengthen technical innovation investment, and constantly improve the technological innovation system, take the initiative to ensure that the market can achieve competitive advantage.

  

Think ACCIONA Energy Research Center Director Li Li in accepting our newspaper reporter to interview, said the impact of low oil prices on oil service industry is a shuffling process. When oil prices rebound fatigue, profit "cake" suddenly become small, competition is intense, there is enough balance of funds of the enterprise or will choose to enhance the strength of mergers and acquisitions. But in any case, technological innovation is the core competitiveness of enterprises, is a tool for security through the "crisis".

  

In addition to technical innovation, vertical restructuring, optimization of the structure of the company is a magic weapon for oil service companies".

  

To recently "upstream" through the source of oil for example, it did not sit still, but by issue of shares to buy assets, non public offering to raise matching funds reorganization 4.1 billion yuan, to mergers and acquisitions (M & A) in response to the industry downturn. Source of oil, chairman of Zhang Guoan said based on years of deep experience in this field, the oil service industry will re-enter the cycle is not considered, and reduced investment, but increase the intensity of investment of vertical integration, for the company's future business accelerating the delivery of supplies.

  

Through source petroleum in the future development direction and Liu said coincide, the company in the semi annual report said in petroleum industry relative downturn will accelerate industry vertical integration, acquisition of enterprises within the industry advantages, to build an integrated service mode, improve the ability to resist risks and profitability.

  

"Oil service companies under the pressure of low oil prices, and constantly improve their own technical reserves and production efficiency, from service industry in the end of the front and the rear extension, to build an integrated service, supplement and improve its industrial chain construction, is way out of oil service companies." Liu Qing added.

Transformation and development of the survival of the fittest

 
Oil service industry restructuring and development opportunities, should be left to the inherent path dependence and interest entanglement.
After the winter period of low oil prices, oil companies, oil service companies and manufacturers, three party pattern will change. Oil companies and oil service company boundaries is still clear, but the manufacturer or will enter the field of oil services, B C may appear to overlap.
And domestic, Liu think more of the small oil service companies will Baotuan heating, small joint variable for medium-sized companies, in United and then into large oil service companies, or the combined listing and financing, the going out strategy.

Wu Siwei Sinopec Petroleum Engineering Technology Service Co., Ltd. said that long-term low oil prices lead to oil service industry crisis, the problem of low oil prices only through low resolution would have been, the low cost competition only by high management level and efficiency of Gao Yunying and high technology level to win, and improve the management, operational efficiency and technical level, the key lies in the realization of oil service industry restructuring and development, is a process of survival of the fittest.
 
For this view, Liu Qing agreed, this is the industry reshuffle restructuring, leaving the company will be operating. But low cost does not necessarily have a higher benefit. In oil service companies to give low offer, it does not mean that it has a more advanced technology, the pursuit of low cost of repeated use of new technology breakthroughs in fact, there is a certain inhibitory effect." He said.

And for a new round of oil and gas reform on the oil service market, Li Li said it can not be reported with high expectations, the current point of view, oil service companies to achieve independence and market is not realistic.

Source: China Energy News