Research On Development Strategy Of C Drilling Company Under The Low Oil Price

Since 2014,crude oil prices have continued to fall,even reduce over 50%,oil and gas companies have been feeling the grim situation.Falling oil prices led to the oil market shrink dramatically,Oil and gas companies cut investments dramatically,which make oilfield service companies inevitably facing the crisis.Under the influence of low oil price,oilfield service companies have to analyze the current situation,and research and work out effective corresponding strategy so as to survive and develop in market competition.As a domestic offshore oil field service company,drilling business of C company has been greatly impacted by low oil prices.From the beginning of 2014,international oil prices decline sharply,global oil companies have reduced investment in exploration,oil field service load decreased rapidly,drilling market of C company has shrunk.Therefore,the study of low oil price corresponding strategy has become an important issue for the survival and development of oil and gas exploration company.With the background of low oil price,this paper carries out the research on the drilling business development strategy of C company,analysis the external macro environment by using PEST,studies industry competitors,analysis the inside and outside factors of C company business by using SWOT,combines strategy types and strategic strength pedigree by EFE,IFE matrix.Finally,establish the strategic choice direction of the drilling business of C company,set of strategies and safeguard measures.Under the low oil price,the drilling business development of C company has three coping strategies,expanding the overseas market,constructing the deep water echelon and optimizing the asset structure.In order to implement the strategies,combined with the actual situation of C company,selected three measures: To enhance the integration of service capabilities,expanding market share.Improvement of HR management level,human resources efficiency,QHSE management connect with international standards,to meet the high standards in the international market.