Abstract: It is of great importance for oilfield companies to improve business performance and fulfill the cost-effective objective under the background that international oil prices continue to remain at a low level. Based on the DEA model and Malmquist index, this article makes static and dynamic evaluations on business performance of 24 typical Chinese listed oilfield service companies between 2011 and 2015. It points out that China’s oilfield service industry is not perfect enough in business management and system construction. The State-owned oilfield service companies are better than their privateowned counterparts in the areas of average integrated efficiency, pure technological efficiency and scale efficiency. Most of listed oilfield service companies in China were under the scale and remuneration increasing period between 2011 and 2015. Appropriate restructuring of assets can benefit oilfield service companies to improve their business performance under the environment of low oil prices. Therefore, it is necessary to continually perfect the oil and gas industrial operation and supervision mechanisms and grasp the strategic opportunity of the country’s the Belt and Road, actively open up overseas market and expand business scale, accelerate technological investment, and energetically promote technological innovations. Importance should be attached to the role of capital market while the efforts are strengthened for fine management of business process and seamless combination of various production links.

摘要： 在国际油价持续低迷的背景下，油服公司如何提高经营效率，以达到降本增效的目的就显得尤为重要。文 章通过DEA 模型及Malmquist 指数，对我国24 家具有代表性的上市油服公司2011—2015 年的经营效率分别进行了静态 和动态测评。指出我国油服行业在经营管理及制度建设上仍不够完善；国有油服公司的平均综合效率、纯技术效率和规 模效率均高于民营油服公司；2011—2015 年我国大部分上市油服公司正处于规模报酬递增阶段；低油价下，适当进行公 司资产重组有利于油服公司提高经营效率。因此应不断完善油气行业运行与监管机制；抓住国家“一带一路”战略机遇 期，积极拓展海外市场，扩大经营规模；加大科技投入，大力推进技术创新；重视资本市场的作用；加强对经营过程的 精细化管理和各生产环节的无缝衔接。

关键词: 低油价, 油服公司, 效率评价, DEA 模型, Malmquist 指数