NAICS Code 531311-13 - Petroleum Consultants

Marketing Level - NAICS 8-Digit

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NAICS Code 531311-13 Description (8-Digit)

Petroleum Consultants are professionals who provide expert advice and guidance to companies in the oil and gas industry. They are responsible for analyzing geological data, evaluating oil and gas reserves, and providing recommendations on drilling and production techniques. Petroleum Consultants work closely with engineers, geologists, and other professionals to ensure that oil and gas operations are efficient, safe, and profitable. They also provide guidance on environmental regulations and help companies to develop strategies for minimizing their impact on the environment.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531311 page

Tools

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

  • Seismic data interpretation software
  • Reservoir simulation software
  • Well log analysis software
  • Production optimization software
  • Pressure transient analysis software
  • Geosteering software
  • Drilling optimization software
  • Risk analysis software
  • Economic evaluation software
  • Data visualization software

Industry Examples of Petroleum Consultants

Common products and services typical of NAICS Code 531311-13, illustrating the main business activities and contributions to the market.

  • Oil exploration
  • Gas production
  • Oilfield services
  • Drilling operations
  • Pipeline construction
  • Refining and processing
  • Petrochemical manufacturing
  • Offshore drilling
  • Environmental consulting
  • Energy trading

History

A concise historical narrative of NAICS Code 531311-13 covering global milestones and recent developments within the United States.

  • The Petroleum Consultants industry has a long history dating back to the early 20th century when the first oil wells were drilled in the United States. The industry has since grown to become a global industry with consultants working in various countries around the world. Notable advancements in the industry include the development of new technologies such as 3D seismic imaging, which has greatly improved the accuracy of oil and gas exploration. In recent years, the industry has faced challenges due to the decline in oil prices, which has led to a decrease in demand for consulting services. However, the industry has adapted by diversifying its services and expanding into new markets. In the United States, the Petroleum Consultants industry has a more recent history, with the first consulting firms established in the 1950s. The industry experienced significant growth in the 1970s and 1980s due to the oil crisis and the subsequent increase in demand for consulting services. In recent years, the industry has faced challenges due to the decline in oil prices, which has led to a decrease in demand for consulting services. However, the industry has adapted by diversifying its services and expanding into new markets, such as renewable energy.