Offshore Drilling Rigs Industry Export, Import by Regions Forecast 2016-2021

1. Offshore Drilling Rigs Market Competition by Manufacturers, Share, Size From 2016-2021 Offshore drilling is a mechanical process of drilling below the seabed for the extraction of oil and gas resources from the bottom of the sea, lakes. Diesel engines are widely used for offshore drilling rigs and these engines requires 20-30 m3 diesel fuel per day, depending upon its use and work done. National Oceanic and Atmospheric Administration (NOAA) stated that dipper drilling may increase the risks of accidents, spills and fires. Prominent factors that are playing major role in the growth of the Offshore Drilling Rigs Market are, continuous development of offshore reserves, increasing Deepwater production, high demand for crude oil, increasing investment in deep and ultra-deep water activities, rapid technological advancements. On the other hand, factors that are restraining the overall market growth are, present oil spill incidents in the offshore arena and strict government regulations on drilling activities. It has been projected that Offshore Drilling Rigs Market will grow at a fastest pace over the forecast period as the scope and its application are rising enormously across the globe such as growing number of investments from operators in Deepwater drilling activities and largest market importance in Latin Browse Full Research Report @https://www.millioninsights.com/industry-reports/offshore- drilling-rigs-market

2. America, Asia Pacific, and Africa. Global Offshore Drilling Rigs Market is segmented based on type, application, and region. Offshore drilling is a mechanical process of drilling below the seabed for the extraction of oil and gas resources from the bottom of the sea, lakes. Diesel engines are widely used for offshore drilling rigs and these engines requires 20-30 m3 diesel fuel per day, depending upon its use and work done. Offshore drilling is most probably carried out for extraction of natural petroleum that resides beneath seabed. Offshore Drilling Rigs Market is classified, by type into Jack up Rigs, Drillships, Semi-Submersible Rigs (Active Mooring, Passive Mooring Systems). Jack up Rigs are self-elevating with three or four flexible legs that can be protracted above or below the drilling level. With the help of hull jack-ups are towed to the drill site that is essentially a water-barge that drifts on the water’s surface, legs are protracted above the hull, and dropped to the water level. On the other hand, drill ships are seagoing vessels (deep as 12,000 feet) used for exploratory drilling of new oil or gas wells in deep water. These drillships are also used for scientific drilling. To maintain its position on the well drillship is tailored with a dynamic positioning system on a modified tanker hull. Request Sample Copy of this Market Research @https://www.millioninsights.com/industry- reports/offshore-drilling-rigs-market/request-sample Semi-Submersible Rigs are the platform with four legs and sufficient weight that allows the structure to float and keep the structure vertical. These rigs are portable and can be balanced up or down by shifting the level of flooding in the resilience tanks. Offshore Drilling Rigs Market is classified, by application into Deep Water Rigs (Deepwater Floaters, Midwater Floaters), Shallow Water Rigs (Commodity Jackup Rigs, Premium Jackup Rigs), and Ultra-Deep Water Rigs. Offshore Drilling Rigs Market is segmented, geographically into North America, Europe (Eastern Europe, Western Europe), Asia Pacific, Latin America, Middle East and Africa. Globally, Latin American regional market held the largest market share of the Offshore Drilling Rigs Market and will remain dominant over the forecast period. The reason being, abundant high offshore potential reserves of oil and gas, increasing investments in E&P CAPEX in the region, rising offshore

3. exploration and production activities. In terms of growth rate, Africa is expected to lead over the forecast period. Moreover, increasing offshore events in the strict environmental conditions of North Sea and reducing oil and gas reserves in the U.S. Whereas, offshore activities in the North Sea determines the CAGR of the European region. On the other hand, Asia Pacific is estimated to grow at fastest pace over the forecast period. See More Reports of this Category by Million Insights @ https://www.millioninsights.com/industry/machinery-and-machine-parts It is projected to rise the demand for growing exploration activities in Southeast Asia. This is mainly due to growing deep-water activities, investments from operators for deep and ultra-deep water activities in this region. Offshore Drilling Rig Industry key players are, Diamond Offshore Drilling Inc., Ensco PLC, Atwood Oceanics, Nobel Corporation, Aban Offshore Limited, China Oilfield Services Limited, Maersk Drilling, Nabors Industries Ltd., KCA Deutag, Pacific Drilling, Hercules Offshore Inc., Rowan Companies PLC, Vantage Drilling, Transocean Ltd., and Seadrill Limited. Browse Full Research Report @https://www.millioninsights.com/industry-reports/offshore- drilling-rigs-market

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