Press release
Offshore Drilling Rigs Market Major Player Operating In The Market - Diamond Offshore Drilling Inc., Vantage Drilling Co., Pacific Drilling.
The major player operating in the market of offshore drilling rigs are Aban Offshore Limited, China Oilfield Services Ltd, Ensco plc, Diamond Offshore Drilling Inc., Vantage Drilling Co., Pacific Drilling, KCA Deutag, Maersk Drilling, Nabors Industries Ltd, Nobel Corporation and others.
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Market Scenario:
Offshore drilling is the process where drilled below the surface and serve operational purposes such as oil exploration and construction work. There are a variety of offshore vessels, which will not only help in the exploration and drilling activities but also supply to the excavation and construction units. Offshore drilling rigs are classified, mainly based on their movability and how deep the sea bed is. The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the market for offshore drilling rigs. Moreover, continuous development of offshore reserves and rising deep water production are likely to positively influence the growth of the global offshore drilling market.
However, offshore drilling projects require a much longer timeline than onshore drilling rigs, which act as a major barrier to the growth of the market. expected to show significant growth in forecast period between 2018 and 2022.
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Regional Analysis
Latin American is the leading region due to high offshore potential reserves of oil and gas. Moreover, factors such as increasing investments in exploration & production (E&P) lead to the increase the demand for drilling equipment and offshore rigs. The increase in global oil & gas production from North America and the Middle East has made operators focus on offshore markets. Secondly, liberalization of the Mexican oil & gas industry drives the demand for offshore drilling.
Asia-Pacific is one of the leading regions for growth in offshore drilling rigs market. The growing demand for energy coupled with the increasing investment in offshore exploration activities will drive the market in the forecast period. Asia-Pacific is among the largest consumers of oil & gas following North America. This demand will lead to more exploration and production in the region.
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