(MENAFN- The Express Wire) Global Offshore Drilling Rigs Market 2020 Top countries data Share, Scope, Stake, Trends, Industry Size, Sales & Revenue, Growth, Opportunities and Demand with Competitive Landscape and Analysis Research Report By 360 Market Updates
Posted on Sep 25 2020 5:19 AM
"This report focuses on Professional Global Offshore Drilling Rigs Market 2020 volume and value at Global level, regional level and company level. Global Offshore Drilling Rigs Market comprehensive analysis of the business models, key ways, and individual market shares of some of the most outstanding players during this landscape. Offshore Drilling Rigs report provides AN comprehensive study of prime players at intervals the market by lightness their product description, business outline and business strategy. It conjointly endows with amount of production, Offshore Drilling Rigs future demand, needed staple, and also the cash health of the organization.
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Global ' Offshore Drilling Rigs Market Size report 2020 - 2024 gives complete analysis of industry position and viewpoint of main regions based on of major key players, country, product types, and end industries. Offshore Drilling Rigs Market report categorizes the market based on manufacturers, regions, type and application. Offshore Drilling Rigs Report 2020 (value and volume) by company, regions, product types, end industries, history data and estimate data. Offshore Drilling Rigs Market report categorizes the market based on manufacturers, regions, type, and application. Offshore Drilling Rigs Market reports offer a detailed assessment of the Offshore Drilling Rigs including enabling technologies, current market situation, market assumptions, restraining factors.
Report focuses on the global market, especially in United States, Europe, China, Japan, South Korea, North America, and India.
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Also, the Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions.
Top-List of Key-players in 2020 of Offshore Drilling Rigs Market:-
- Aban Offshore Limited
- Diamond Offshore Drilling Inc.
- Ensco PLC
- Maersk Drilling
- Nabors Industries Ltd
- Transocean Ltd
- Seadrill Limited
- Pacific Drilling SA
- Rowan Companies PLC
- Noble Corporation
The Global Offshore Drilling Rigs market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.
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The crude price started to increase after mid-2016 and so the offshore oil & gas industry started to stabilize. The price crossed USD 60 per barrel mark in November 2017. In 2017, the rig contacting activity and utilization also showed improvements. The major demand is for higher specification jack-up along with sixth and seventh generation semisubmersibles and drillships for harsh environments. Opening of coastal water in the United States for exploration and production, and recovery of Brazil oil & gas industry, along with increasing crude oil price, are expected to increase the tendering activity for offshore rigs.
Golden Triangle - One of the Largest Market for Offshore Drilling
The deepwater drilling market is expected to rebound in the near future due to increased activity in the Golden Triangle Gulf of Mexico, Brazil, and West Africa. Chevron's Ballymore and Shell's giant Whale discovery in the Gulf of Mexico represents the sign of regional deepwater revival after a long time, without any major discovery. In March 2017, Ensco PLC, an offshore drilling contractor, said that they had witnessed a 200% increase in rig years, tendered for jack-up year over year. The discovery of Egypt's mammoth offshore natural gas field 'Zohr is expected to increase the demand for mobile offshore drilling unit. Several large offshore drilling projects countries such as Mozambique and Nigeria are further expected to drive the market.
Increase in Rig Tendering Activity in the US and Brazil Driving the Market
In 2018, the rig tendering activity is expected to increase in response to positive outlook for offshore drilling activity. In Brazil, companies such as Chevron, Total, Shell, and others are in talks with drilling contractors for mobile offshore drilling units for drilling Brazil's pre-salt and post-salt play. Around 14 deepwater projects are expected to come by 2020 in the country. Brazilian state-owned company Petrobras is expected to replace contracts expiring in 2018 and next year, as well as new rig requirements from late 2019. The US government has opened 98% of its coastal waters for exploration. As a result, the market is expected to witness increase in rig tendering activity in the forecast period.
Oversupply of Offshore Drilling Fleet - Restraining the Market
The offshore drilling market is suffering from demand and supply gap, which is too wide to overcome, without an additional impulse. The oversupply had reduced the rig day rates by 50% in 2017 as compared to the 2013—2014 level, and is expected to remain soft in the near future. In 2017, the oversupply was 50% for the offshore drilling fleet globally, including drillships, semisubmersible and jack-ups. Also, rigs sitting in yard become less competitive and the activation costs of new build or old cold stacked rigs increases with increase in idle time. As a result, the lesser revenue for companies and the extra cost for activation of stacked rigs are restraining the market.
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The global Offshore Drilling Rigs market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.
Highlighted points of Offshore Drilling Rigs Market Size:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
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Key Developments in the Offshore Drilling Rigs Market:
- January 2018 - Maersk Drilling has received a four-year contract for deep water drillship from Tullow Ghana Ltd.
- December 2017 - Total E & P Norge AS has extended the contract with Maersk Drilling for Jackup rig Maersk Intrepid.
- December 2017 - Nabors Industries acquired Tesco Corporation, which is an oilfield service company specializing in designing, manufacturing, and servicing of technology based solutions for upstream oil & gas industry.
- June 2017 - Ensco acquired Atwood Oceanics, Inc., which is an offshore drilling contractor.
Reasons to Purchase this Report● Current and future global offshore drilling rigs market outlook in the developed and emerging markets● Analyzing various perspectives of the market with the help of Porter's Five Forces analysis● The segment that is expected to dominate the market● Regions that are expected to witness the fastest growth during the forecast period● Identify the latest developments, market shares, and strategies employed by the major market players● 3 month analyst support, along with the Market Estimate sheet (in excel)
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Finally, the report Global Offshore Drilling Rigs Market 2020 describes the Offshore Drilling Rigs industry expansion game plan, the Offshore Drilling Rigs industry knowledge supply, appendix, analysis findings, and the conclusion.
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