"Actionable Insights to Fuel Your Growth"

Offshore Drilling Rigs Market Size, Share and Global Trend By Type (Bottom Supported Rigs, Floaters Rigs), By Depth of Water (Shallow Water, Deepwater, Ultra Deepwater) and By Geography Forecast till 2026

Region : Global | Report ID: FBI100280 | Status : Ongoing

 

KEY MARKET INSIGHTS

Fossil fuel demand increasing enormously around the world and exploration of hydrocarbons majorly carried out by leading companies in the world to meet the demand of oil and gas. The extensive potential of hydrocarbons lies beneath the sea and with the help of well-developed technology companies are focusing on increasing offshore drilling to explore oil and gas. Offshore drilling rigs is a structure which offers broad facilities to drill wells, extract, store and process petroleum and natural gas until it can be brought to store for refining and marketing. Technological advancement for exploration and development, better control of environmental impacts, increased efficiency and improved understanding of marine environment significantly increases the offshore drilling activities. The offshore drilling requires a rigid structure due to extreme environmental condition for ease of operation without any difficulty. Around the end of the 18th-century first drilling rig is employed and over the time drilling rigs broadly used for offshore exploration development of wells.

The classification of offshore drilling rigs can be done on the basis of type viz. Bottom Supported Rigs and Floaters Rigs. Bottom supported rigs sub-divided into Platforms and Jack Up. Bottom supported rig is a type of mobile offshore drilling unit (MODU) that has its part of the structure in contact with the seabed. Platform support the drilling operation by supporting surface production equipment, living quarter, and drilling rigs. Jack up rigs are self-elevating rigs whose support legs are not permanently attached to the seafloor and commonly employed for shallow water drilling. Floating drilling rigs are not resting on the seafloor which includes Semi-submersible and Drill Ship. Semisubmersible makes a steady platform for drilling offshore oil and gas. Drill ships are used for operating in extreme weather condition in ultra-deepwater drilling.

To gain extensive insights into the market, Request for Customization

Extreme development in the technology of offshore drilling to meet the enormous demand for hydrocarbons is expected to increase the growth of offshore drilling rigs. Discovering a new exploration site and development of existing reserves to enhance its production will drive the market of the offshore drilling rig.

The recent oil spill news and amendments in marine environment policy is hindering the growth of offshore drilling rig. The marine life is in danger due to an oil spill and cleaning cost is quite expensive which inhibit the growth of offshore drilling rig.

KEY PLAYERS COVERED

The top companies in the offshore drilling rigs are Schlumberger, Halliburton, Baker Hughes, Transocean, Ensco Plc, Diamond Offshore Drilling, Rowan Companies, Noble Corporation, Seadrill, Weatherford International, Stena Drilling, China Oilfield Services Limited (COSL), Nabors Industries, Saipem, KCA Deutag, and Parker Drilling.

SEGMENTATION

 SEGMENTATION

 DETAILS

By Type

·      Bottom Supported Rigs

           Platform

           Jack Up

·      Floaters Rigs

           Semi-Submersible

           Drill Ship

By Depth of Water

·      Shallow Water

·      Deepwater

·      Ultra Deepwater

By Geography

·      North America (USA and Canada)

·      Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

·      Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

·      Latin America (Brazil, Mexico and Rest of Latin America)

·      Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)

REGIONAL ANALYSIS

The global offshore drilling rigs market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America and Latin America have proven offshore oil and gas reserves which mainly include Western Hemisphere, Canada, Venezuela, and the United States. The Gulf of Mexico is a large basin for oil production since the last decade. Abundant energy sources are available in these regions and government & private entities are investing to develop offshore drilling which enhances the oil production in the region. Asia Pacific countries are increasing their offshore exploration and production (E&P) activities in order to increase domestic production of energy sources and reduce their rising dependence on imported oil and gas. The Asia Pacific has witnessed the fastest economic growth in the world since a decade due to emerging economies such as China, India, Japan, Indonesia, and Thailand. Rapid economic growth has resulted in a sharp consumption of energy resources which increased the dependency on imported oil and gas. The countries in this region are coming forward for making an investment in offshore exploration and production which expected to increase the growth of offshore drilling rigs. Offshore oil and gas production constitutes an indigenous energy source of hydrocarbon in Europe. The hundreds of platforms are actively operating in the North Sea for hydrocarbon production in the German, Danish, Irish, Norwegian and UK sections. Around 9% of the total oil and gas consumption in Europe comes from offshore exploration and production. Countries in the Middle East & Africa are primarily producing hydrocarbons from onshore areas but to meet the increasing demand for oil & gas, various countries like Saudi Arabia, Iran, UAE, Nigeria, Egypt, Angola and Algeria are eyeing an offshore exploration and production which will enhance the overall growth of the offshore drilling rigs in this region.

Key Industry Developments

· In April 2019, Saipem has secured a deal worth $200 million for two offshore drilling contracts in Norway and Middle East. First agreement was signed with Wintershall for drilling of two wells plus two optional wells in offshore Norway. Second agreement was obtained for a four-year extension of the use of the high specs Jack up Perro Negro7 in Middle East.

 

· In December 2018, Halliburton has signed up two contracts with Eni Iraq BV (Eni) to provide integrated drilling services at Eni’s Zubair Oil Field in Southern Iraq. Under this contract Halliburton will deploy 4-6 rigs for drilling development wells over the next two years.

 

· In October 2018, Schlumberger announced that the company signed an agreement valued $15 million with Turkish Petroleum to help it with offshore drilling in the Mediterranean Sea. The company will coordinate on multiple product line and provide project management services in ultra-deepwater drillship.


Offshore Drilling Rigs Market Size, Share and Global Industry Trend Forecast till 2026
  • Ongoing
  • 2019
  • 2016-2018

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

Energy & Power Clients

reliance
omron

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . More info.
X