Definition
Firms in this industry explore for, develop and operate oil and gas fields, which may be located either onshore or offshore. Oil and gas production involves a range of activities such as exploration, drilling and completing wells, operating extraction facilities (including offshore platforms of various types), operating field gathering lines (including subsea lines), and desilting works. This industry includes the production of crude petroleum, the mining and extraction of oil from oil shale and oil sands, and the production of natural gas, sulfur recovery from natural gas, and recovery of hydrocarbon liquids.

IBISWorld research reports contain trend analysis, statistics, market size information, industry growth rates as well as market share of competitors.

Major market segments are identified and also those forces affecting demand and supply within the industry. Performance analysis includes emerging industry trends as well as recent results and performance of each key company. Drawing on the depth of information IBISWorld also provides 5 year forecasts for each industry.

Each comprehensive study also examines details such as the barriers to entry, operating cost structure, technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic regional data.

Each comprehensive study also examines details such as the barriers to entry, operating cost structure (including averages), technology & systems and domestic & international markets. Tables and statistics include: Industry revenue, exports, imports, wages and number of companies in the industry, Industry growth and geographic location.