The Crude Petroleum Extraction industry has had to dig deep in order to overcome huge fluctuations in prices over the five years through 20131-14. At the same time, despite being the largest oil producer in the European Union, UK production has declined since peaking in 1999. This is due to maturing existing oil fields and ever more challenging development of new commercially viable sources. Operators have been able to ride out uncertainty by forming partnerships to pool resources and extract oil as efficiently as possible. The industry has leveraged its position as the largest producer in the European Union by engaging in substantial export trade.
Firms in this industry primarily extract crude oil from onshore and offshore fields. The industry also includes the extraction of oil from oil shale and oil sands. The industry includes all activities pertaining to oil field extraction and development of extraction sites. The category excludes test drilling, oil and gas services performed on a contract basis, and geophysical, geologic and seismic surveying.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.