Demand for energy fuels is rising every year due to concerns related to energy security, increasing economic wealth of developing countries, increasing industrialization, and rapid globalization. Market Research Future (MRFR) has published a research report on the Global Offshore Drilling Rigs Market that expects enormous growth for this market at 11.25% CAGR (Compound Annual Growth Rate) between 2018 and 2023.
The key factors enhancing the growth of the Global Offshore Drilling Rigs Market are increasing demand for oil and gas, offshore discoveries, and strict regulations against onshore drilling projects. Other important factors aiding the market growth are rapid maturation of onshore oil fields, declining production of fossil fuels, increasing investments, rising population, rapid urbanization, and industrial development.
Latest Industry News
The four drill rigs of Oklo Resources are now in operation across its Dandoko and Kouroufing Projects in West Mali.
3 oil drilling rigs have been removed in Cana Woodford Basin.
ADES International Holding Ltd. has purchased the land drilling operations of Precision Drilling Services Saudi Arabia (PDSSA) from Weatherford for $92.5 mn. The sale includes 11 drilling rigs, 923 employees and associated customer contracts.
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Key Players
The key players in the global offshore drilling rigs market include
- Aban Offshore Limited (India)
- China Oilfield Services Ltd. (China)
- Diamond Offshore Drilling Inc. (USA)
- Ensco PLC (UK)
- Halliburton (USA)
- KCA Deutag (UK)
- Maersk Drilling (Denmark)
- Nabors Industries Ltd (Bermuda)
- Nobel Corporation (UK)
- Pacific Drilling (USA)
- Schlumberger (USA)
- Seadrill (Bermuda)
- Vantage Drilling Co. (USA)
- Weatherford International Inc (USA)
Market Segmentation:
The Global Offshore Drilling Rigs Market has been segmented on the basis of Operating Depth, Type, and Lastly Region.
Based on Operating Depth, this market has been segmented into shallow water, deep water, ultra-water.
By Type, the market has drillship, jack-up rig, semi-submersible.
The Regional segmentation of the Global Offshore Drilling Rigs Market segments the global market into regional markets known as North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa (MEA).
Market Drivers and Restraints:
Rapid maturation of onshore oil fields has caused decline in the production of fossil fuels. As the world’s final frontier of oil production, offshore exploration projects are anticipated to receive heavy investments in the coming years, which is resulting in the significant expansion of the global offshore drilling rigs market. Increasing energy demand as a result of rapid urbanization, rising population and industrial development, is resulting in the rise of offshore drilling activities, which in turn is fueling the growth of the global offshore drilling rigs market. However, the complexities related to offshore drilling and extra cost required for activation of stacked rigs are likely to pose a threat for the expansion of the global offshore drilling rigs market during the forecast period.
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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
7 Competitive Analysis
To be Continue ……………..
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