HOME Top Market Reports Offshore Drilling Market By Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra-Deepwater) And Geography-Global Trends & Forecasts To 2018

Offshore Drilling Market By Services (Contract Drilling, Directional Drilling, Logging While Drilling), Applications (Shallow Water, Deepwater, Ultra-Deepwater) And Geography-Global Trends & Forecasts To 2018

By: marketsandmarkets.com
Publishing Date: June 2013
Report Code: EP 2075

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The maturity of onshore oil reserves shifts the focus of operator companies towards deep water offshore areas. The increasing demand for energy together with increasing investment in deep and ultra deep offshore exploration activities will drive the global offshore drilling market to $121.1 billion by 2018, growing at a CAGR of 10.6% from 2013 to 2018.

The factors driving the growth in the offshore drilling services market are the sustaining high oil prices, technological advancements, and a surge in deep and ultra deep water activities. The key market players are interested in investing a lot more in offshore oilfields to meet current and future energy needs. Geographically, new avenues in the Asia-Pacific market together with its booming economy and rapidly increasing energy consumption is expected to experience the highest revenue growth during the next five years.

The report classifies the offshore drilling market in accordance to services, geography, and application areas. The offshore drilling services included in this report are offshore contract drilling, directional drilling, and logging while drilling. The contract drilling services hold the highest market share among the services. The application areas covered in this report are shallow, deep water, and ultra deep water. In terms of geography, the report is segmented into Asia-Pacific, Europe, the Middle East, Africa, North America, and South America.

For this report, major players in the market are identified through secondary and primary research. Based on that, their market shares are evaluated. This includes a study of the annual reports of top market players and interviews with key opinion leaders such as CEOs, Directors, and marketing people. It also highlights various key industry issues, and market impulse factors, such as drivers, restraints, and opportunities. The scope accordingly helps market participants identify high growth markets and facilitate key investment decisions.

The size of the overall offshore drilling market is determined by forecasting techniques based on the offshore contracted rig count, day rates, and well counts in different geographical regions which are validated through primary sources.

In order to present an in-depth understanding of the competitive landscape, the report consists of 19 company profiles of major contract drilling and service companies such as Transocean Ltd. (Switzerland), Ensco PLC (U.K.), Seadrill Ltd. (Bermuda), and oilfield services companies such as Baker Hughes Inc. (U.S.), Schlumberger (U.S.), Halliburton Energy Services (U.S.), and Weatherford (Switzerland).

Table of Contents

1 Introduction (Page No. - 20)
  1.1 Key Take Aways
  1.2 Report Description
  1.3 Markets Covered
  1.4 Stakeholders
  1.5 Research Methodology
      1.5.1 Market Size
      1.5.2 Key Data Points Taken From Secondary Sources
      1.5.3 Key Data Points Taken From Primary Sources
      1.5.4 Assumptions Made For This Report

2 Executive Summary (Page No. - 25)

3 Premium Insights (Page No. - 27)
  3.1 Asia-Pacific Dominates The Global Market
  3.2 Maximum Growth For Deep & Ultra-Deepwater Markets
  3.3 National Oil Companies & International Majors Dominate Floater Operator Market
  3.4 Positive Rig Demand Steers Offshore Drilling
  3.5 Major Demand For High Specification Rigs
  3.6 Expanding Offshore Rig Market

4 Market Overview (Page No. - 37)
  4.1 Introduction
  4.2 Market Segmentation
      4.2.1 By Services
      4.2.2 By Geography
      4.2.3 By Applications
  4.3 Value Chain Analysis
      4.3.1 Equipment Manufacturers
      4.3.2 Service Providers
      4.3.3 Oil Field Operators
  4.4 Market Dynamics
      4.4.1 Drivers
            4.4.1.1 Sustained High Oil Prices Over The Recent Years, Drives Offshore Exploration Activities
            4.4.1.2 Increasing Energy Demand From Emerging Economies
                    4.4.1.2.1 Demand & Supply State Of Affairs Of Crude Oil
                    4.4.1.2.2 Demand & Supply Scenario Of Natural Gas
            4.4.1.3 Increased Expenditure From Oil & Gas Companies Accelerates Offshore Exploration Activities
      4.4.2 Restraints
            4.4.2.1 Regulatory Challenges & Environmental Issues
                    4.4.2.1.1 High Environmental Risks
            4.4.2.2 Strict Government Regulations
      4.4.3 Opportunities
            4.4.3.1 Focus On Deep & Ultra-Deepwater Reserves
            4.4.3.2 Growing Offshore E&P Capex
  4.5 Winning Imperatives
      4.5.1 Research & Development Of Specialized Tools And Equipment
      4.5.2 Consolidation Trend Is The Key In Offshore Exploration
  4.6 Burning Issues
      4.6.1 High Risk Business & Lack Of Technical Professionals
  4.7 Porter’s Five Force Analysis
      4.7.1 Threat Of New Entrants
      4.7.2 Threat Of Substitutes
      4.7.3 Suppliers’ Power
      4.7.4 Buyers’ Power
      4.7.5 Degree Of Competition
  4.8 Market Share Analysis
  4.9 Patent Analysis

5 An Overview Of The Offshore Oil & Gas Industry (Page No. - 67)
  5.1 Introduction
  5.2 Global Offshore Oil & Gas Reserves
      5.2.1 Global Offshore Oil & Gas Reserves, By Regions
      5.2.2 Global Offshore Oil & Gas Reserves, By Water Depths
  5.3 Global Offshore Oil & Gas Production
      5.3.1 Global Offshore Oil Production
      5.3.2 Global Offshore Gas Production
  5.4 Offshore Drilling Activity
      5.4.1 Global Activity
            5.4.1.1 Asia-Pacific Offshore Drilling
            5.4.1.2 Europe Offshore Drilling
            5.4.1.3 Middle East Offshore Drilling
            5.4.1.4 Africa Offshore Drilling
            5.4.1.5 North America Offshore Drilling
            5.4.1.6 South America Offshore Drilling

6 Offshore Drilling Rig Market (Page No. - 81)
  6.1 Introduction
      6.1.1 Drillships
      6.1.2 Semisubmersibles
      6.1.3 Jackups
      6.1.4 Platform Rigs
      6.1.5 Tender Assist Rig
  6.2 Offshore Rig Supply Overview
      6.2.1 US Gulf Of Mexico (US GOM)
      6.2.2 West Africa/Mediterranean Region
      6.2.3 North Sea
      6.2.4 Middle East
      6.2.5 South East Asia/India
      6.2.6 South America
      6.2.7 Mexico
      6.2.8 Others
  6.3 Offshore Drillers’ Market
      6.3.1 Offshore Rig Count, By Companies & Types
      6.3.2 Jackups Newbuilds, By Companies
      6.3.3 Floaters Newbuilds, By Companies
  6.4 Offshore Rig Demand Growth
      6.4.1 Jackup Demand Growth
      6.4.2 Floater Demand Growth
  6.5 Offshore Rigs Newbuilds
      6.5.1 Jackup Newbuilds Deliveries
            6.5.1.1 Jackup Newbuild Deliveries, 2013
            6.5.1.2 Jackup Newbuild Deliveries, 2014
            6.5.1.3 Jackup Newbuild Deliveries, 2015
      6.5.2 Drillships Newbuilds Deliveries
            6.5.2.1 Drillships Newbuild Deliveries, 2013
            6.5.2.2 Drillships Newbuild Deliveries, 2014
            6.5.2.3 Drillships Newbuild Deliveries, 2015
            6.5.2.4 Drillships Newbuild Deliveries, 2016+
      6.5.3 Semisubmersibles New Builds Deliveries
            6.5.3.1 Semisubmersibles’ New Build Deliveries, 2013
            6.5.3.2 Semisubmersibles Newbuild Deliveries, 2014
            6.5.3.3 Semisubmersibles Newbuild Deliveries, 2015
            6.5.3.4 Semisubmersibles Newbuild Deliveries, 2016+
  6.6 Offshore Rig Utilization Rate
  6.7 Offshore Rig Day Rates
      6.7.1 Jackup Day Rates
      6.7.2 Floater Day Rates
 
7 Global Offshore Drilling Market, By Services (Page No. - 121)
  7.1 Introduction
      7.1.1 Global Market, By Services
  7.2 Offshore Contract Drilling
      7.2.1 Definition & Description
            7.2.1.1 South America & Asia-Pacific Leads The Offshore Contract Drilling Market
  7.3 Directional Drilling
      7.3.1 Definition & Description
            7.3.1.1 Increasingly Complex Drilling Projects Demand Directional Drilling
  7.4 Logging While Drilling
      7.4.1 Definition & Description
            7.4.1.1 Revenue Forecast

8 Global Market, By Geography (Page No. - 132)
  8.1 Introduction
      8.1.1 Global Market, By Geography
  8.2 Asia-Pacific Market
      8.2.1 Asia-Pacific Market, By Services
      8.2.2 Asia-Pacific Market, By Countries
            8.2.2.1 China & Thailand Leads The Growth In Asia-Pacific Offshore Drilling
  8.3 Europe Offshore Drilling Market
      8.3.1 Europe Market, By Services
      8.3.2 Europe Market, By Countries
            8.3.2.1 Norway And U.K. Are The Major Offshore Countries In Europe
  8.4 Middle East Offshore Drilling Market
      8.4.1 Middle East Market, By Services
      8.4.2 Middle East Market, By Countries
  8.5 Africa Offshore Drilling Market
      8.5.1 Africa Market, By Services
      8.5.2 Africa Market, By Countries
            8.5.2.1 Emergence Of East African Countries Boost Offshore Developments In Africa
  8.6 North America Offshore Drilling Market
      8.6.1 North America Market, By Services
      8.6.2 North America Market, By Countries
  8.7 South America Offshore Drilling Market
      8.7.1 South America Market, By Services
      8.7.2 South America Market, By Countries

9 Global Market, By Applications (Page No. - 148)
  9.1 Introduction
      9.1.1 Global Market, By Applications
  9.2 Asia-Pacific Market, By Applications
  9.3 Europe Market, By Applications
  9.4 Middle East Market, By Applications
  9.5 Africa Market, By Applications
  9.6 North America Market, By Applications
  9.7 South America Market, By Applications
 
10 Competitive Landscape (Page No. - 157)
   10.1 Introduction
   10.2 Contract Agreement Lead The Way
   10.3 Mergers & Acquisitions
   10.4 Contract Agreements
   10.5 New Products And Services Launch
   10.6 Other Developments
   10.7 SWOT Analysis
        10.7.1 Transocean Ltd
        10.7.2 ENSCO PLC
        10.7.3 Seadrill Ltd
        10.7.4 Schlumberger Ltd
        10.7.5 Halliburton Company

11 Company Profiles (Overview, Financials, Products & Services, Strategy, And Developments)* (Page No. - 189)
   11.1 Atwood Oceanics Inc.
   11.2 Baker Hughes Inc.
   11.3 China Oil Field Services Limited
   11.4 Diamond Offshore Drilling Inc.
   11.5 ENSCO PLC
   11.6 Fred. Olsen Energy ASA
   11.7 Gyrodata Inc.
   11.8 Halliburton Company
   11.9 KCA Deutag
   11.10 Maersk Drilling
   11.11 Nabors Industries Ltd
   11.12 Noble Corporation
   11.13 Rowan Companies PLC
   11.14 Schlumberger Limited
   11.15 Scientific Drilling International
   11.16 Seadrill Ltd
   11.17 Superior Energy Services
   11.18 Transocean Ltd
   11.19 Weatherford International Ltd

*Details On Overview, Financials, Product & Services, Strategy, And Developments Might Not Be Captured In Case Of Unlisted Companies.

Appendix (Page No. - 269)

  U.S. Patents
  Europe Patents


List of Tables (104 Tables)

Table 1 Global Market Revenue, By Services, 2011 – 2018 ($Million)
Table 2 Regional Dominance & Key Market Players
Table 3 Global Market: Growth By Applications
Table 4 Jackup & Floater Operator Market: Market Facts
Table 5 Offshore Drilling Rig Market: Market Scenario
Table 6 Jackup & Floater Dayrates: Market Scenario
Table 7 Offshore Rig Market: Market Scenario
Table 8 Price Summary, Wti Crude & Brent Crude, 2011 – 2014 ($/Barrel)
Table 9 Demand For Crude Oil, By Geography, 2007 – 2011 (‘000 BBL/Day)
Table 10 Supply Of Crude Oil, By Geography, 2007 – 2011 (‘000 BBL/Day)
Table 11 Demand For Natural Gas, By Geography, 2007 – 2011 (BCM)
Table 12 Supply Of Natural Gas, By Geography, 2007 – 2011 (BCM)
Table 13 Offshore Fields, By Country & Water Depth (Feet)
Table 14 Global Offshore Wells Drilled, By Regions, 2011 – 2013
Table 15 Asia-Pacific: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 16 Europe: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 17 Middle East: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 18 Africa: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 19 North America: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 20 South America: Offshore Wells Drilled, By Countries, 2011 – 2013
Table 21 U.S. Gulf Of Mexico: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 22 West Africa/Mediterranean: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 23 North Sea: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 24 Middle East: Mobile Offshore Drilling Rig Count, 2011– 2013
Table 25 South East Asia/India: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 26 South America: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 27 Mexico: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 28 Others: Mobile Offshore Drilling Rig Count, 2011 – 2013
Table 29 Offshore Rig Count, By Companies & Types, 2013
Table 30 Jackup Newbuilds, By Companies, 2013 – 2016+
Table 31 Floater Newbuilds, By Companies, 2013 – 2016+
Table 32 Jackup Demand, By Geography, 2013 – 2016
Table 33 Floater Demand, By Geography, 2013 – 2016
Table 34 Global Jackup Newbuild Deliveries, 2013 – 2015
Table 35 Global Jackup Newbuild Deliveries, 2013
Table 36 Global Jackup Newbuild Deliveries, 2014
Table 37 Global Jackup Newbuild Deliveries, 2015
Table 38 Global Drillship Newbuild Deliveries, 2013 – 2015
Table 39 Global Drillship Newbuild Deliveries, 2013
Table 40 Global Drillship Newbuild Deliveries, 2014
Table 41 Global Drillship Newbuild Deliveries, 2015
Table 42 Global Drillship Newbuild Deliveries, 2016
Table 43 Global Semisubmersibles Newbuild Deliveries, 2013 – 2015+
Table 44 Global Semisubmersibles Newbuild Deliveries, 2013
Table 45 Global Semisubmersibles Newbuild Deliveries, 2014
Table 46 Global Semisubmersibles Newbuild Deliveries, 2015
Table 47 Global Semisubmersibles Newbuild Deliveries, 2015
Table 48 Offshore Rig Utilization Rate, By Types, 2012 – 2013
Table 49 Jackup Day Rates, Q1 2011 – Q4 2012 ($’000 Per Day)
Table 50 Floater Day Rates, Q1 2011 – Q4 2012 ($’000 Per Day)
Table 51 Global: Market Revenue, By Services, 2011 – 2018 ($Million)
Table 52 Offshore Contract Drilling: Market Revenue, By Geography, 2011 – 2018 ($Million)
Table 53 Directional Drilling: Market Revenue, By Geography, 2011 – 2018 ($Million)
Table 54 Logging While Drilling: Market Revenue, By Geography, 2011 – 2018 ($Million)
Table 55 Offshore Drilling Market Revenue, By Geography, 2011 – 2018 ($Million)
Table 56 Apac: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 57 Apac: Revenue, By Countries, 2011 – 2018 ($Million)
Table 58 Europe: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 59 Europe: Revenue, By Countries, 2011 – 2018 ($Million)
Table 60 Middle East: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 61 Middle East: Revenue, By Countries, 2011 – 2018 ($Million)
Table 62 Africa: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 63 Africa: Revenue, By Countries, 2011 – 2018 ($Million)
Table 64 North America: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 65 North America: Market Revenue, By Countries, 2011 – 2018 ($Million)
Table 66 South America: Offshore Drilling Market Revenue, By Services, 2011 – 2018 ($Million)
Table 67 South America: Market Revenue, By Countries, 2011 – 2018 ($Million)
Table 68 Global Market, By Applications, 2011 – 2018 ($Million)
Table 69 Apac: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million)
Table 70 Europe: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million)
Table 71 Middle East: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million)
Table 72 Africa: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million) 154
Table 73 North America: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million)
Table 74 South America: Offshore Drilling Market, By Applications, 2011 – 2018 ($Million)
Table 75 Mergers & Acquisitions, 2010 – 2013
Table 76 Contract Agreements, 2010 – 2013
Table 77 New Products And Services Launch, 2010 – 2013 172
Table 78 Other Developments, 2010 – 2013
Table 79 Atwood: Products & Its Applications/Description
Table 80 Baker Hughes: Annual Revenue, By Business Segments, 2011 - 2012 ($Million)
Table 81 Baker Hughes: Annual Revenue, By Geography, 2011 - 2012 ($Million)
Table 82 Baker Hughes: Products & Its Applications/Description
Table 83 China Oil: Products & Its Applications/Description
Table 84 Diamond: Products & Its Applications/Description
Table 85 ENSCO: Products & Its Applications/Description
Table 86 Fred.: Products & Its Applications/Description
Table 87 Gyrodata: Products & Its Applications/Description
Table 88 Halliburton: Annual Revenue, By Business Segments, 2011 – 2012 ($Million)
Table 89 Halliburton: Annual Revenue, By Geography, 2011 – 2012 ($Million)
Table 90 Halliburton: Products & Its Applications/Description
Table 91 KCA Deutag: Products & Its Applications/Description
Table 92 Maersk: Products & Its Applications/Description
Table 93 Nabors: Products & Its Applications/Description
Table 94 Noble: Products & Its Applications/Description
Table 95 Rowan: Annual Revenue, By Geography,  2011 - 2012 ($Million)
Table 96 Rowan: Products & Its Applications/Description
Table 97 Schlumberger: Annual Revenue, By Geography, 2011 – 2012 ($Million)
Table 98 Schlumberger: Products & Its Applications/Description
Table 99 Scientific: Products & Its Applications/Description
Table 100 Seadrill: Products & Its Applications/Description
Table 101 Superior: Products & Its Applications/Description
Table 102 Transocean: Annual Revenue, By Business Segments, 2011 – 2012 ($Million)
Table 103 Transocean: Products & Its Applications/Description
Table 104 Weatherford: Products & Its Applications/Description 


List Of Figures (36 Figures)

Figure 1 Global Market: Regional Scenario 2012
Figure 2 Global Market Share, By Applications, 2012 & 2018
Figure 3 Jackup & Floater Operator Market: Market Facts
Figure 4 Rig Market: Market Scenario
Figure 5 Jackup & Floater: Dayrates, By Types, 2010 – 2012 ($KPD)
Figure 6 Offshore Rig Market: Market Scenario
Figure 7 Global Market Revenue Share, By Services, 2012
Figure 8 Market Revenue Share, By Geography,2012
Figure 9 Classification Of Services, By Application Areas
Figure 10 Global Market Revenue Share, By Applications, 2012
Figure 11 Value Chain Analysis Of The Services Market
Figure 12 Price Summary, Wti Crude & Brent Crude, 2011 – 2014 ($/Barrel)
Figure 13 Change In Crude Oil Consumption, By Geography, 2007 – 2011
Figure 14 Change In Crude Oil Production, By Regions, 2007 – 2011
Figure 15 Change In Natural Gas Consumption, By Geography, 2007 – 2011
Figure 16 Change In Natural Gas Production, By Geography, 2007 – 2011
Figure 17 Global E&P Capital Spending, By Company Types/Regions
Figure 18 Global Offshore E&P Capex, 2005 – 2014 ($Billion)
Figure 19 Porter’s Five Force Analysis
Figure 20 Offshore Contract Drilling, Market Share Analysis, By Revenue, 2012
Figure 21 Patent Analysis, By Companies, 2010 – 2013
Figure 22 Patent Analysis, By Geography, 2010 – 2013
Figure 23 Global Offshore Oil & Gas Reserves, By Regions, 2012 (Billion BOE)
Figure 24 Global Offshore Oil & Gas Reserves, By Water Depths, 2012 (Billion BOE)
Figure 25 Global Offshore Oil Production, By Regions, 2012 (Million Barrels Per Day)
Figure 26 Global Offshore Gas Production, By Regions, 2012 (Billion Cubic Feet Per Day)
Figure 27 Global: Market Revenue, Market Share, By Services, 2012
Figure 28 Offshore Contract Drilling: Market Share, By Geography, 2012
Figure 29 Offshore Drilling Market Revenue Share, By Geography, 2012
Figure 30 Global Market Revenue Share, By Applications, 2012
Figure 31 Global Market Share, By Growth Strategies, 2010 – 2013
Figure 32 Transocean: SWOT Analysis
Figure 33 Ensco Plc: SWOT Analysis
Figure 34 Seadrill: SWOT Analysis
Figure 35 Schlumberger: SWOT Analysis
Figure 36 Halliburton: SWOT Analysis

The global offshore drilling market is wide with significant growth and huge investment in the near future. This market depends on the availability of potential offshore reserves, the technology available for the field development and the economic prospects of the field development. Thus, any fluctuations in any of these aspects will reflect in the market activities.

Increasing activities in Asia-Pacific offshore drilling, and growing deep to ultra-deep water drilling will show a major demand for the global market, making the offshore contract drilling and other oilfield services key players in the development of offshore area.

The companies involved in providing offshore service business are thus expanding their offshore rig fleet and investments in the emerging markets of Asia-Pacific and existing markets of Brazil, US Gulf of Mexico (US GOM), and West Africa. Contract agreements with oil operator companies, technological advancements and innovative new products are the key strategies that help service companies maximize their revenues.

Within the applications segment, the shallow water activity is the major area for offshore drilling market. It is expected to maintain a dominating position over the next few years, while the deep and ultra-deep water drilling activities are expected to increase in the near future.

Geographically, the market has been studied for different regions such as Asia-Pacific, Europe, the Middle East, Africa, North America, and South America. The value of the market for offshore drilling is analyzed in details for all major countries. The study covers different strategies such as contract agreements, new product launch, and mergers & acquisitions. The figure below talks about the market revenue share, based on regions, as of 2012.

Offshore Drilling Market, Market Revenue Share,
 By Geography, 2012

 Offshore Drilling Market  

Source: MarketsandMarkets Analysis

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