Deepwater drilling is the exploration of deep-sea water for extracting natural gas and oil. It is the mechanical process where the well is drilled to a depth of more than 300m. Deepwater drilling is done in various types such as drillships, semisubmersibles, and tender rigs. With the growing demand for oil production and countries' energy independence, the deepwater drilling market is expected to rise in the coming years.This growth is primarily driven by Increasing Demand for the Oil Production and Growing Demand for the Energy Independence of the Developing Countries.
Globally, a noticeable market trend is evident Continuous Technological Advancements in the Deepwater Drilling Process. The Oil & Gas Drilling sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as Halliburton Company (United States), Diamond Offshore Drilling, Inc. (United States), Transocean Ltd. (Switzerland), Schlumberger Limited (United States), Acteon Group Ltd. (United Kingdom), Baker Hughes (United States), Nabors Industries (Bermuda), Maersk Drilling (Denmark), EnscoRowan (United Kingdom), Saipem S.p.A. (Italy) and Petróleo Brasileiro S.A. (Brazil) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 23rd February 2021, Petrobras has issued a brand new tender for the charter of up to five deep-water drilling rigs for work off the Brazilian coast, as the oil giant seeks to replenish a fleet that has more than 80% of its units with contracts expiring by the end of next year.
On 16th April 2021, Maersk Drilling secures a one-well ultra-deepwater exploration contract in Gabon. Maersk Drilling has been awarded a one-well contract from PC Gabon Upstream S.A. (PCGUSA), a subsidiary of PETRONAS, for the provision of a deepwater drillship rig. The 7th generation drillship Maersk Viking will be employed to drill an ultra-deepwater exploration well at approximately 2,100 m water depth in Block F13 offshore Gabon. PETRONAS is a global energy and solutions partner and ranked amongst the largest corporations in the Fortune Global 500®.
- Increasing Demand for the Oil Production
- Growing Demand for the Energy Independence of the Developing Countries
- Continuous Technological Advancements in the Deepwater Drilling Process
- Environmental Damages Associated with Deepwater Drilling
Surging Government Projects and Investment on the Deepwater Drilling Projects
Stringent Regulatory Guidelines and Standards on the Deepwater Drilling
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Deepwater Drilling Study Sheds Light on
— The Deepwater Drilling Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Deepwater Drilling industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
— Where Deepwater Drilling industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
— How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.