Research On International Market Development Strategy Of Drilling Service Of SS Corporation

In recent years,with the collapse of international oil price,the scale of international oil E&P investment and international oil service market has experienced a steep decline,bottom rebound,and a slow recovery.From the perspective of market,there are international oil service companies such as SLB,HLB,BKR,Nabors and various domestic competitors such as Great Wall,COSL,ZPEC,etc.,SS corporation’s international well service market development is facing servere challenges,and the newly signed contract amount shows a significant downward trend,from US $4.7billion in 2013 to US $2.2 billion in 2018,a drop of 53%.It is mainly manifested in the sharp shrinking of markets in some regions and a large number of equipment standby;in some markets,the public security situation and operating environment are severe,it is unsuitable to continue related business;and in some markets,the business scale is small and the economic benefits are poor,the market cannot open for a long time,have to choose to exit.In this context,it is urgent to conduct a serious study on SS’s international drilling service market development strategy,to stabilize the existing market,restore potential markets,and develop new regional markets.Through the research and application of relevant theories such as the theory of international market entry mode and the theory of comparative advantage,this paper comprehensively applies the case analysis method,literature analysis method,enterprise benchmarking analysis method and SWOT analysis method.Guided by trends in international oil E&P and the international oil service market,the enterprise benchmarking analysis method is adopted to explore the development direction of SS corporation,and the SWOT analysis method is used to find out the advantages and disadvantages of SS corporation in the market development of international drilling service.Combined with the enterprise’s own strategy,the market positioning and target of SS corporation are sorted out,and the feasible development path and countermeasures are proposed.Firstly,it analyzes the existing problems and causes in the market development of SS corporation and the trend of international E&P and the market pattern of drilling business.Then,the business scope and business chain,market coverage area,internationalization degree,scientific research investment and professional technical ability of SS corporation and its main competitors are analyzed.According to the analysis,although SS corporation has advantages in drilling and workover service,whole industry chain and integrated service,group support,financing cost and other aspects,it has disadvantages in scientific research investment,advanced technology and core equipment,market region,brand construction and other aspects.The company should make full use of the opportunities in the recovery of the international oil service market and the gradual implementation of the national "One Belt And One Road" initiative,and carry out effective reform and optimization design in the regional market,professional market,business model,talent development,cross-cultural management,and key risk control.