“The Spending in the Deepwater Drilling Market set to reach USD 26.35 billion in 2019” says new Visiongain report
07 April 2020
Visiongain has launched a new energy report Deepwater Drilling Market Report 2020-2030: CAPEX and Charter Spending for Drillships, Semi-Submersible and Tender Rigs Rated Over 500m in Water Depth, Spending Forecasts (USD Billion) for Leading Regions Including: North America, Europe, Asia-Pacific, Middle East & Africa, and South America.
While analysing the market, some of the important factors that are considered while forecasting the market size include the current capacity of rigs, the demand from end consumers, competition from onshore drilling, and geographical location. The Gulf of Mexico, the North Sea, and the Persian Gulf are traditional shallow-water vessel markets, with a strong presence of jackups. Apart from the geographical location, the focus has been shifted to the growing demand of industrial automation for safety and health regulations. The safety of employees, visitors, vendors, and contractors remain a top concern for any organization. Workers are prone to various injuries resulting from physical strain, and repetitive motion, exposure to hazardous substances, overexertion, falling from heights, and slipping. The oil and gas industry have witnessed several cases of oil spills including the BPs Deepwater Horizon Oil Spill in 2010. Automation allows for the adoption of industrial robots to perform various repetitive tasks to prevent injuries. Moreover, these developments and accident cases have drastically changed the oil and gas scenario.
The visiongain report analyst commented "The managed pressure drilling and increased deepwater exploration, growth of oilfield chemicals in oil and gas industry, rapidly growing shale exploration in the US are creating opportunity in the deepwater drilling market. Drillships will attract the most deepwater drilling spending over the next ten years."
Leading companies featured in the report are Transocean Ltd, Seadrill Limited, Noble Corporation, Pacific Drilling, Diamond Offshore Drilling Inc., Valaris Plc, Saipem SpA, Sapura Energy Berhad, Nabors Industries, Maersk Drilling, Stena Drilling Ltd, Shelf Drilling Ltd, and Northern Drilling Ltd
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