Offshore Drilling Rigs Market Highlights:-
The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the overall offshore drilling rigs activities. Moreover, continuous development of offshore reserves and rising deep water production are likely to positively influence the growth of the global Offshore Drilling Rigs Market. Global oil and gas industry has been seeing a host of exploration and production activities over the past year, especially in West Africa, several countries in the region are planning to carry out diverse oil and gas engineering and procurement activities. Many major and independent firms are taking up upstream operations in the region. The Nigerian National Petroleum Corporation (NNPC) announced that it had secured a USD1.2 billion multi-year drilling financing package to contribute to the running of 36 oil wells across the country. The project is expected to deliver 21,000 barrels of crude condensate per day along with 120 million cubic feet of gas. Moreover, in Liberia, Exxon Mobile Corporation is planning to start oil drilling in its recently found oil reserves by 2018.
In July, 2017 – GE (NYSE: GE) and Maersk Drilling extended the scope of their digital partnership. The collaboration brings the next big step in innovative efficiency services to the offshore market and constitutes great value for customers by enhancing drilling productivity.
In October, 2017 – Ensco plc (NYSE: ESV) announced the completion of its acquisition of Atwood Oceanics, Inc.
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Leading Key Players:-
The major player operating in the market of offshore drilling rigs are Halliburton (U.S.), Schlumberger (U.S.), Weatherford International Inc (U.S.), Seadrill (Bermuda), and Aban Offshore Limited (India). China Oilfield Services Ltd. (China), Ensco plc (UK), Diamond Offshore Drilling Inc. (U.S.), Vantage Drilling Co. (U.S.), Pacific Drilling (U.S.), KCA Deutag (UK), Maersk Drilling (Denmark), and Nabors Industries Ltd (Bermuda), Nobel Corporation (U.K.) are among others.
The market has been analyzed based on the three segments, namely, types, operating depth, and end-use in the regions of North America, Europe, APAC and Rest of the World. On the basis of types, it includes drillships, jackup rigs, and semi-submersibles. Jackup rigs are offshore rigs typically equipped with legs that can be lowered to the seabed so that a foundation is established to support the drilling platform. Semi-submersibles and jackup dominate the global offshore drilling rigs market, owing to increasing shallow and deep water explorations. On the basis of operating depths, it includes shallow water, deep water and ultra-water. The shallow water activities dominate offshore market and is projected to grow at a high growth rate in the near future. On the other hand, the deep water and ultra-deep water activities are also projected to increase, escalating the requirement for semisubmersibles and drill ships in offshore application.
Major Points From TOC:-
Table Of Contents
1 Executive Summary
2 Research Methodology
3 Market Dynamics
4 Global Offshore Drilling Rigs Market, By Type
5 Global Offshore Drilling Rigs Market, By Operating Depth
6 Regional Market Analysis
6.2 North America
6.3.5 Rest Of Europe
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Regional Analysis of Offshore Drilling Rigs Market:-
Latin American is the leading region due to high offshore potential reserves of oil and gas. Moreover, factors such as high investments in exploration & production (E&P) lead to an increase in demand for drilling equipment and offshore rigs. The increase in production of oil & gas in North America and the Middle East has driven operators to focus on offshore markets. Secondly, liberalization of the Mexican oil & gas sector drives the demand for offshore drilling.
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