Tools commonly used in the Petroleum Contractors industry for day-to-day tasks and operations.

• Drill bits
• Casing
• Cementing equipment
• Wellhead equipment
• Pumps
• Compressors
• Valves
• Hoses
• Gauges
• Welding equipment
• Hydraulic fracturing equipment
• Coiled tubing equipment
• Wireline equipment
• Perforating guns
• Packers
• Fishing tools
• Mud pumps
• Mud tanks
• Blowout preventers

Common products and services typical of NAICS Code 211120-07, illustrating the main business activities and contributions to the market.

• Well drilling
• Well completion
• Well servicing
• Pipeline construction
• Pipeline maintenance
• Pipeline repair
• Oil rig construction
• Oil rig maintenance
• Oil rig repair
• Fracturing services
• Coiled tubing services
• Wireline services
• Cementing services
• Well testing services
• Directional drilling services
• Fishing services
• Pumping services
• Pressure testing services
• Inspection services

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• API Spec Q1: This certification is required for companies that provide quality management systems for the petroleum and natural gas industry. It is provided by the American Petroleum Institute (API).
• OSHA 30-Hour General Industry Training: This certification is required for workers in the petroleum industry to ensure they have the necessary knowledge and skills to work safely. It is provided by the Occupational Safety and Health Administration (OSHA).
• Hazardous Waste Operations and Emergency Response (HAZWOPER) Certification: This certification is required for workers who handle hazardous materials in the petroleum industry. It is provided by the Environmental Protection Agency (EPA).
• National Institute for Certification In Engineering Technologies (NICET) Certification: This certification is required for workers who perform testing and inspection services in the petroleum industry. It is provided by the National Institute for Certification in Engineering Technologies (NICET).
• Petroleum Equipment Institute (PEI) Certification: This certification is required for workers who install, maintain, and repair petroleum equipment. It is provided by the Petroleum Equipment Institute (PEI).

A concise historical narrative of NAICS Code 211120-07 covering global milestones and recent developments within the United States.

• The "Petroleum Contractors" industry has a long and rich history worldwide. The industry started in the mid-19th century when the first oil well was drilled in Pennsylvania, USA. The industry grew rapidly in the early 20th century, with the discovery of large oil reserves in the Middle East and the development of new drilling technologies. In the 1970s, the industry faced a major crisis due to the oil embargo imposed by OPEC, which led to a sharp increase in oil prices. However, the industry recovered in the 1980s and 1990s, with the development of new technologies for offshore drilling and the discovery of new oil reserves in Alaska and the North Sea. In recent history, the "Petroleum Contractors" industry in the United States has faced several challenges. The industry experienced a major downturn in the late 2000s due to the global financial crisis and the decline in oil prices. However, the industry recovered in the early 2010s, with the development of new technologies for shale oil and gas extraction. The industry also faced environmental challenges, with concerns about the impact of oil drilling on the environment and public health. In response, the industry has developed new technologies for reducing emissions and improving safety. Overall, the "Petroleum Contractors" industry has a rich history of innovation and adaptation to changing market conditions and technological advancements.

The anticipated future trajectory of the NAICS 211120-07 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for the Petroleum Contractors industry in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for oil and gas. The industry is also expected to benefit from the development of new technologies that will make oil and gas extraction more efficient and cost-effective. However, the industry may face challenges due to the increasing focus on renewable energy sources and the potential for stricter environmental regulations. Overall, the industry is expected to continue to play a significant role in the US economy in the coming years.

Recent groundbreaking advancements and milestones in the Petroleum Contractors industry, reflecting notable innovations that have reshaped its landscape.

• Use Of Drones for Pipeline Inspections: Petroleum contractors are increasingly using drones to inspect pipelines, which is faster, safer, and more cost-effective than traditional methods.
• Advanced Drilling Technologies: The industry is using advanced drilling technologies such as horizontal drilling and hydraulic fracturing to extract oil and gas from previously inaccessible reserves.
• Use Of Big Data Analytics: Petroleum contractors are using big data analytics to optimize drilling operations, reduce costs, and improve safety.
• Development Of New Materials: The industry is developing new materials that can withstand the harsh conditions of oil and gas extraction, such as high temperatures and pressures.
• Use Of Renewable Energy Sources: Some petroleum contractors are investing in renewable energy sources such as wind and solar power to diversify their operations and reduce their carbon footprint.