Research On The Management Strategy Of Overseas Engineering Technical Services Of Chinese Drilling Contractors Under Low Oil Prices

As the global economy is short of stamina in recovery,there is a lack of continuous growth momentum for the price of resource products represented by the crude oil and the oil price will fluctuate at a lower level for a long period.In the new normal of a downturn for oil price,the exploration and development in the upstream industry face a difficulty in financing and insufficient effective investment;meanwhile,with the coming of the "ice age" in oil industry,there is a demand growth limit for major crude oil consumers and the industry,resulting in the severely decline of the well drilling business,the core unit in oilfield services.From the development history of the industry,the key for the survival and development of oilfield service enterprises lies in their global operational capabilities,therefore facing the fierce competition at domestic market,limited space and the entering of foreign oilfield service companies,Chinese contractors for well drilling business must change their strategies,going abroad and implementing an overseas operational strategy.After over ten years' development,Chinese well drilling contractors has entered the"profundal zone" in overseas management,thus it must have a clear awareness and resolve to face the challenges,progress step by step and overcome the difficulties.The Chinese well drilling contractors should seize the opportunities brought about by the "Belt and Road"strategy and the new trend in the global oil engineering service industry to proactively face the challenges including the accelerating of integration among international oilfield service giants,cost increasing,workload reducing,benefits declining,uncertainties increase of the legal and political risks in resource countries,the frequently happening of money laundering and other criminal behaviors,and give full play to the advantages to solve problems like unreasonable structure of the overseas business,imprudent inverstment decisions,low awareness of risk control,promote the development of potential markets,optimize the market structure,deepen the management reform,establish the modern enterprise management system,comprehensively improve the overall competitiveness in international engineering technology service.Firstly,this article studies the related theory,carding low oil price,crisis management strategy theory,international operation theory,enterprise strategic management theory,internationalization theory so as to establish an international engineering technology service strategies theory system for Chinese well drilling contractors.Secondly,analyzes the status quo and characters of international well drilling markets and forecasts future trend.Thirdly,with competitive strategy analysis tool to analyze in detail the opportunities,threats,advantages and defects of international engineering technology service for Chinese well drilling contractors in low oil price period and defines the value significance of international engineering technology service and the internal motivation of enterprise.Fourthly,takes the strategies of comprehensive transnational oilfield service enterprises in their international operations as examples to analyze the measures adopted by international well drilling contractors to low oil price period and their reference significance for our contractors.Finally,brings forth beneficial suggestions of international engineering technology service for Chinese well drilling contractors in low oil price period.