Apr 24, 2020   SOURCE: PR NewsWire

Global Deep Water Drilling Industry Analysis by Type, Depth and Region - 2020

DUBLIN, April 24, 2020 /PRNewswire/ -- The "Deep Water Drilling Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.

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Factors such as rising deepwater oil and gas activity especially in the Gulf of Mexico, Brazil and the North Sea, improved viability of deepwater and ultra-deepwater projects, and tightening supply-demand gaps are expected to drive the market during the forecast period.

However, volatile crude oil prices, instability in the oil & gas industry, and higher challenges in developing deepwater prospects, are likely to affect the growth of the deepwater drilling market.

The deep water drilling market is moderately fragmented due to many companies operating in the industry. The key players in this market include Transocean, Seadrill Limited, Noble Corporation, Pacific Drilling, Diamond Offshore Drilling, and others.

Key Highlights

    --  The deepwater drilling sector is expected to witness a significant
        growth rate over the forecast period owing to the upcoming deepwater
        exploration and production projects in countries such as Brazil, Guyana,
        Nigeria, and others.
    --  Factors, such as technological improvements and increasing viability of
        deepwater and ultra-deepwater projects, several new markets, such as
        Gabon, Senegal, Guyana, Trinidad & Tobago, Egypt, and the Mexican side
        of the Gulf of Mexico are actively promoting the development of
        deepwater and ultra-deepwater reserves. This, in turn, is expected to
        create significant opportunities for the operating countries in the near
        future.
    --  South America is going to dominate the market across the globe following
        with Middle East & Africa with the majority of the demand coming from
        Nigeria, Angola, and Egypt.

Major Market Trends

Deepwater Drilling Sector to Dominate the Market Growth

    --  The investments related to deepwater projects are expected to be
        limited, before 2025. These resources are typically more expensive to
        develop, take a longer time to reach full production, and require
        additional investment in infrastructure, because of their presence in
        remote locations. However, most of the projects that are currently under
        development are expected to continue their operations.
    --  Despite high fixed costs and the requirement of long lead times from
        project conception to the first production, offshore deepwater oil
        projects provide large production volumes that can achieve relatively
        low per-barrel operating costs over the reservoir life cycle.
    --  The majority of deepwater drilling and production takes place in four
        countries: Brazil, the United States, Angola, and Norway. In recent
        years Brazil have become a world leader in the development of deepwater
        projects. Norway pumped approximately USD 6 billion in the exploration
        and development of deepwater oil & gas platforms.
    --  Moreover, the recent waves of cost reductions and critical technological
        breakthroughs have enabled many oil and gas exploration and production
        companies to expand their portfolio of sustainable deepwater
        developments.

South America to Dominate the Market Growth

    --  As the demand for energy is increasing rapidly, various countries and
        major companies and investors are shifting their interest toward deep
        water, as it holds the potential for a guaranteed supply of oil & gas
        for few decades.
    --  In 2018, Brazil and the United States together accounted for more than
        90% of ultra-deepwater production globally. According to EIA, Brazil is
        a world leader in the development of deepwater and ultra-deepwater
        projects. The change in government policy in recent years such as
        liberalization in the oil & gas sector attracted foreign investment in
        the country. Moreover, the presence of the most experienced
        international oil companies in the deepwater development and the largest
        deepwater reserves makes Brazil the most attractive countries for
        upstream deepwater investment.
    --  Similarly, in the same year, a new exploration permit was awarded in
        April 2019 to the consortium formed by ExxonMobil and Qatar Petroleum,
        for exploration in Malvinas Oeste Basin. 13 companies offered
        approximately USD 995 million for exploration licenses of areas within
        the Austral, Argentina Norte, and Malvinas Oeste basins. All the three
        basins are offshore, combining to a total tendered area of more than
        200,000 sq. km. never explored before.
    --  In 2019, Brazil held its sixth successful oil and gas bid round in just
        over a year and awarded all four blocks in the prospective pre-salt area
        for BRL 6.82 billion. The latest investment and upcoming projects in
        deepwater are likely to drive the growth of the deepwater drilling
        market during the forecast period in the South America region.
    --  Therefore, with rising investments in deepwater and ultra deepwater
        projects and supporting policies from governments are expected to drive
        the market in forecast period.

Key Topics Covered

1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast, in USD billion, till 2025
4.3 Deep water Active Drilling Rigs, till 2019
4.4 Historic and Demand Forecast of Offshore CAPEX in USD billion, by Water Depth, 2018-2025
4.5 Historic and Demand Forecast of Offshore CAPEX in USD billion, by Regions, 2018-2025
4.6 Number of Deep Water Drilling Project Approved 2007-2018
4.7 Number of Floater Rigs and Contracted Rig Years, 2007-2018
4.8 Share of Under Contract, Future Contract, and Idle/Stacked for Floater Rigs, 2018
4.9 Major Deep Water Upstream Projects
4.10 Recent Trends and Developments
4.11 Government Policies & Regulations
4.12 Market Dynamics
4.12.1 Drivers
4.12.2 Restraints
4.13 Supply Chain Analysis
4.14 Porter's Five Forces Analysis

5 MARKET SEGMENTATION
5.1 Type
5.1.1 Drill Ship
5.1.2 Semisubmersibles
5.1.3 Tender Rigs
5.1.4 Others
5.2 Depth
5.2.1 Deep Water Drilling
5.2.2 Ultra Deep Water Drilling
5.3 Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 South America
5.3.5 Middle-East & Africa

6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 Transocean Ltd.
6.3.2 Seadrill Limited
6.3.3 Noble Corporation
6.3.4 Ocean Rig UDW Inc.
6.3.5 Pacific Drilling S.A.
6.3.6 Diamond Offshore Drilling, Inc.
6.3.7 Saipem S.p.A.
6.3.8 Ensco plc
6.3.9 SapuraKencana Petroleum Berhad
6.3.10 China Oilfield Services Limited
6.3.11 Maersk Group

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/jthhvw

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