A Study On Development Strategy Of ZY Petroleum Engineering Company

The development strategy of an enterprise is importantly influential to the company's long-term and overall goals,which indicates the direction for the development.In recent years,the petroleum engineering industry has been facing a severe situation and huge challenges due to the impact of significant fluctuations in international oil prices,the Sino-US trade war,and the COVID-19 pandemic.China's external dependence on oil is rising year by year,and energy security has become a national strategy.Besides,domestic investment in oil and gas exploration and development has been continuously increased,which expands the living space of petroleum engineering companies.This essay studies the development strategy of petroleum engineering enterprises,aiming to enhance their strategic management capability,and improve their good development with better quality and level.This essay takes ZY Petroleum Engineering Company as a case study,after reviewing many pieces of literature,applying theoretical methods and models of enterprise strategic management,to study the company's development strategy.Firstly,PEST model and five forces model are used to analyze the external environment of ZY petroleum engineering company.The external environment is conducive to the development of the company,but the industry competition will be more intense;Secondly,the internal environment of ZY petroleum engineering company is analyzed from the aspects of operation,organizational structure,human resources,technology and culture.The company has a wide range of business,complete equipment,obvious advantages in ultra deep well and shale gas well construction technology,reasonable market layout and strong team cohesion,but at the same time,there are some problems,such as high operating pressure,serious brain drain,high cost of investment,low cost of investment and so on There are few high-efficiency markets and insufficient industrialization of technical products.Using SWOT analysis method,we choose WO strategy for ZY petroleum engineering company.With the vision of "building a domestic leading and international first-class oil service company",we implement the integration,cost leading and internationalization strategy for the main business,implement the tightening strategy for the auxiliary business,vigorously promote market development,talent strengthening,science and technology revitalizing,lean management and brand building,and finally realize the sustainable development of the enterprise.Finally,the specific safeguard measures are formulated from the aspects of enterprise management,market development,talent,technology,cost reduction and brand.This research is conducive to ZY Company to improve the ability to cope with complex development situations and plays a positive role in promoting the development of ZY Company,as well as serving as a reference and inspiration for other petroleum engineering enterprises in the formulation of their development strategies.