Offshore Drilling Rigs Market Growth Evolution, Trends Innovation, Major Product Segment and Forecasts Report 2031 | Transocean, Royal Dutch Shell, Chevron, ExxonMobil

New York, 2022-Jul-27 — /EPR Network/ — Global Offshore Drilling Rigs Market report from Global Insight Services is the single authoritative source of intelligence on Offshore Drilling Rigs Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters’ and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Offshore drilling rigs are used for extracting oil and gas from the seabed. They are designed to operate in harsh environments and can be used in water depths up to 3,000 meters. The first offshore drilling rig was built in the early 20th century and since then, they have become an essential part of the oil and gas industry.

Offshore drilling rigs typically consist of a platform, which is supported by legs or pontoons, and a derrick, which is used to drill the wells. The platform is usually located in shallow water, while the derrick is located on the deck of the rig. The drill pipe is used to connect the drill bit to the surface, while the drill string is used to rotate the drill bit.

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The drilling process begins by creating a hole in the seabed, which is then lined with casing. The drill bit is then lowered into the hole and the drilling process begins. The drill string is used to rotate the drill bit, while the drill pipe is used to pump drilling fluid into the hole. This fluid helps to cool the drill bit and remove the cuttings from the hole.

Once the drilling is complete, the drill pipe is removed and the well is completed. The well is then ready to produce oil and gas.

Key Trends

Offshore drilling rigs are used for drilling operations in bodies of water more than 500 feet deep. The first offshore drilling rig was built in the 1930s, and the technology has since evolved to allow for operations in ever-increasing water depths. Today, offshore drilling rigs are used in a variety of settings, from the shallow waters of the Gulf of Mexico to the deepwater drilling taking place in the Gulf of Guinea.

Key Drivers

The major drivers for this market are the increasing demand for energy, the rise in oil & gas exploration activities, and the need for energy security.

The demand for offshore drilling rigs is increasing due to the rise in oil & gas exploration activities. The major oil & gas producing regions are the North Sea, the Gulf of Mexico, and the Asia Pacific. The North Sea is the largest market for offshore drilling rigs, followed by the Gulf of Mexico and the Asia Pacific.

Market Segments

By Water Depth

  • Shallow water
  • Deepwater
  • Ultra-Deep water

By Type

  • Jackup Rigs
  • Semi-Submersible Rigs
  • Drillships
Key Players
  • Transocean
  • Royal Dutch Shell
  • Chevron
  • ExxonMobil
  • BP
  • Anadarko Petroleum
  • Total SA
  • Statoil
  • Marathon Oil
  • Noble Corporation

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