“The oil and gas industry is anticipated to achieve stabilization in 2019”, says Visiongain

07 November 2019
Energy

Drillships Market Report 2020-2030: Forecasts by Water Depth (Less than 3000 feet, 3000 – 5000 feet, More than 5000 feet), by Application (Ultra-Deepwater, Deepwater), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) and analysis of leading companies operating in this industry.

A drilling ship is a marine vessel produced or altered to drill holes of oil and gas. Drill ships are structurally comparable to container ships or tankers. Drilling vessels used for upstream fishing activities are fitted with a derrick and moon pool drilling. There is also comprehensive mooring and a helipad for drill vessels. 

It is anticipated that the environmental circumstances in which the drill vessels are troubled by seas, winds and winds will boost the difficulties faced during construction activities. Furthermore, when they are connected or attached to machinery thousands of feet under the ocean, the drill vessels experience operating difficulties. It is very essential for owners to choose a suitable mooring scheme on a drilling ship as it is one of the essential components of working pools effectively.

When crude oil prices reached a century high at US$ 30 per barrel in 2015, oil carriers were burdened with drying up their companies. A sophisticated drill ship's price is more than US$ 500 million, and a significant drop in oil prices in 2008 and 2013-14 led in a significant drop in the amount of fresh contracts as well as the postponement of some of the contracts. Currently, however, drill ship builders ' companies have enhanced and are focused on obtaining fresh commands.

Over the previous 3-4 years, worldwide drill ship industry growth has been sluggish owing to volatility in oil prices. The volatile aspect of oil prices has seriously impacted the development of the worldwide industry for drill boats. A drill vessel was last sold in April 2016. Offshore oil companies were reluctant to spend in the drill vessels industry because of this ambiguity. As oil prices increase to approximately US$ 80 per barrel, deep-water exploration activities are presently getting momentum. The oil and gas industry is anticipated to achieve stabilization in 2019, which is supposed to fuel instructions for fresh drill vessels.

Competitive products such as jackups and semi-submersible rigs are some of the main problems facing the drill boats industry. The mobility element, however, is the main benefit that promotes end-users to embrace drill boats as compared to semi-submersible rigs. In contrast to a drill ship, the latter needs a transportation vessel to move it from one location to another.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain publishes Green (Renewable) Diesel Market Report 2020-2030

Visiongain’s global green diesel market report can keep you informed and up to date with the developments in the market, across four different regions: North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.

17 June 2020

Read

Visiongain publishes Grid-Scale Battery Storage Technologies Market Report 2020-2030

The grid-scale battery storage technologies market is expected to witness a high growth on account of due to smart grid investments, large investments in renewable energy and T&D transmission network integration.

17 June 2020

Read

Visiongain publishes Electric Insulator Market Report 2020-2030

There are hundreds of companies who manufactures electric insulators over the next decade, or who provide consultancy, engineering and other services to the Power industry. Therefore, the following list of companies is by no means exhaustive.

03 June 2020

Read

“Electric Power Transmission & Distribution (T&D) Infrastructure market will generate over $301.1bn in 2020” says new Visiongain report

Electric Power T&D Infrastructure market is expected to witness a high growth on account of ongoing government plans toward expansion of transmission and distribution network. Increasing measures by the government to facilitate efficient and reliable electrification benefits and decentralised electricity supply will boost the demand for Electric Power T&D Infrastructure globally.

22 May 2020

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever