The Global Offshore Oil & Gas Rig Market valued at USD14735.78 million in 2021 and is anticipated to project robust growth in the forecast period with a CAGR of 5.69% owing to blooming demand for oil and gas, oilfield facilities etc.

An offshore oil and gas rig platform is a huge structure with capabilities for extracting and processing petroleum and natural gas from rock formations beneath the seabed. It's a big building on or in the sea with facilities for drilling wells, extracting and refining oil and natural gas, and temporarily holding the commodity until it can be refined and sold.

Measurement-while-drilling Systems

Until the 1980s, it was troublesome to know precisely what was going on with the penetrate bit as the gap was being penetrated. Measurement-while-drilling (MWD) innovation fathomed this issue. MWD gives administrators real-time boring data as well as the choice to control the well in several headings. It interfaces gamma beams, temperature, and weight, as well as thickness and attractive reverberation of shake arrangements. This serves an assortment of purposes. It permits administrators to penetrate quicker whereas dodging blowouts and device disappointments. It too helps administrators in illustrating that they are not penetrating disallowed locales. Also, MWD instep depends on mud beat telemetry to string a wire or cable down the well from the surface to the penetrate bit.

Horizontal Drilling

One of the advantages of MWD, as already examined, is that it permits an administrator to control a penetrate in numerous directions. One of the foremost critical improvements within the history of oil boring has been the capacity to control a penetrate in headings other than straight down. The benefits of level penetrating, be that as it may, amplify past expanded well output. It moreover licenses the boring of wells in ecologically delicate and secured regions. Although the primary even well was burrowed in 1929, they were costly, and pressure driven breaking rapidly made strides vertical well efficiency. By the 1980s, mechanical propels such as MWD and steerable engine congregations had made flat boring a more down to earth choice.

Hydraulic Fracturing

Water powered breaking was designed within the 1940s and has ended up progressively noteworthy in oil boring. It is advantageous in "tight" stores, where the oil-bearing rocks have little pores. This shows that the rock's oil stream is weak, and a straightforward well penetrated into the shake will not extricate much oil. Drillers utilize water powered breaking to invigorate the well and extricate the caught oil. Drillers utilize a proppant, a blend of liquids, sand, and pellets, to keep the splits from closing once more. These breaks permit oil to stream more unreservedly from the shake. Such improvements are likely to proceed, driving the Worldwide seaward oil and gas fix advertise.

Seismic Imaging

Setting up a fix and burrowing a profound well is costly, so enterprises are hesitant to squander time and cash on an incapable area. Consequently, geologists were in the long run brought in to search for oil by examining surface shake arrangements, attractive areas, and indeed minor vacillations in gravity. 3-D seismic imaging is one of the foremost critical headways in oil investigation. This can be based on the preface that sound bounces off and voyages in an unexpected way through diverse materials. An vitality source, such as a vibrator truck sends sound waves profound into the soil in this method. Geophones are extraordinary gadgets situated on the surface that get clamors that bounce back up and transfer the information to recorder trucks. Assist, engineers and geophysicists look at the recorded sound waves to decide the sorts of shake arrangements. This permits them to form 3-D representations of what is underneath the surface. Although current technology minimizes the number of holes drilled and leads to more productive wells, it isn't without flaws. As a result, the worldwide offshore oil and gas rig market is likely to benefit from seismic imaging technology.


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Market Segmentation

The Global Offshore Oil and Gas Rig Market is segmented based on Type, Water Depth, Region and Company. Based on Type, the market is further fragmented into Jackups, Semisubmersibles, Drill Ships, and Others. Based on the Water Depth, the market is segmented into Shallow Water, Deepwater and Ultra-deepwater. The market analysis also studies the regional segmentation, divided among Asia-Pacific, Europe, North America, Middle East & Africa, South America.

Company Profiles

Halliburton Co., Valaris Limited, Baker Hughes Company, Sembcorp Marine Ltd, Schlumberger Limited, China Oilfield Services Limited, Samsung Heavy Industries Co. Ltd, Jindal Drilling & Industries Limited, Keppel Offshore & Marine, ADNOC Drilling, Arabian Drilling Company, Shelf Drilling, Ltd are among the major market players in the global platform that lead the market growth of the Global Offshore Oil & Gas Rig.

Attribute

Details

Market size value in 2021

USD14735.78 Million 

Revenue Forecast in 2027

USD22522.64 Million

Growth Rate

5.69%

Base Year

2021

Historical Years

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in (USD million), and CAGR for 2017-2021 and 2022-2027

Report Coverage

·         Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

·         Type

·         Water Depth

Regional Scope

North America, Asia- Pacific, Europe, Middle East & Africa, South America

Key Companies Profiled

Halliburton Co., Valaris Limited, Baker Hughes Company, Sembcorp Marine Ltd, Schlumberger Limited, China Oilfield Services Limited, Samsung Heavy Industries Co. Ltd, Jindal Drilling & Industries Limited, Keppel Offshore & Marine, ADNOC Drilling, Arabian Drilling Company, Shelf Drilling Ltd, Saipem S.p.A, Maersk Drilling A/S, Transocean Ltd, Scientific Drilling International, Leam Drilling Systems Inc,

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, Global Offshore Oil and Gas Rig Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

·         Offshore Oil & Gas Rig Market, By Type:

o   Jackups

o   Semisubmersibles

o   Drill Ships

o   Others

  • Offshore Oil & Gas Rig Market, By Water Depth:

o   Shallow Water

o   Deepwater

o   Ultra-deepwater

·         Offshore Oil & Gas Rig Market, By Region:

    • Asia-Pacific
      • China
      • India
      • Malaysia
      • Singapore
      • Indonesia
      • South Korea
      • Australia
      • Rest of Asia-Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Qatar
      • Iran
      • Egypt
      • Bahrain
      • Rest of Middle East & Africa
    • Europe
      • Norway
      • United Kingdom
      • Spain
      • Azerbaijan
      • Turkey
      • Russia
      • Netherlands
      • Rest of Europe
    • North America
      • United States
      • Mexico
      • Canada
    • South America
      • Brazil
      • Trinidad
      • Colombia
      • Rest of South America

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Offshore Oil and Gas Rig Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

In case you don’t find what you are looking for, please get in touch with our custom research team at sales@techsciresearch.com

1.    Product Overview

2.    Research Methodology

3.    Executive Summary

4.    Impact of COVID-19 on Global Offshore Oil & Gas Rig Market

5.    Voice of Customer

5.1.  Brand Awareness

5.2.  Factors Considered for Choosing Offshore Oil & Gas Rig Vendor

5.3.  Major Challenges Related to Offshore Oil & Gas Rig

6.    Global Offshore Oil & Gas Rig Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value & Volume

6.2.  Market Share & Forecast

6.2.1.     By Type (Jackups, Semisubmersibles, Drill Ships, and Others)

6.2.2.     By Water Depth (Shallow Water, Deepwater and Ultra-deepwater)

6.2.3.     By Region (Asia-Pacific, Europe, North America, Middle East & Africa, South America)

6.2.4.     By Company (2021)

6.3.  Market Map

7.    Asia-Pacific Offshore Oil & Gas Rig Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value & Volume

7.2.  Market Share & Forecast

7.2.1.     By Type

7.2.2.     By Water Depth

7.2.3.     By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.     China Offshore Oil & Gas Rig Market Outlook

7.3.1.1.         Market Size & Forecast

7.3.1.1.1.             By Value & Volume

7.3.1.2.         Market Share & Forecast

7.3.1.2.1.             By Type

7.3.1.2.2.             By Water Depth

7.3.2.     India Offshore Oil & Gas Rig Market Outlook

7.3.2.1.         Market Size & Forecast

7.3.2.1.1.             By Value & Volume

7.3.2.2.         Market Share & Forecast

7.3.2.2.1.             By Type

7.3.2.2.2.             By Water Depth

7.3.3.     Malaysia Offshore Oil & Gas Rig Market Outlook

7.3.3.1.         Market Size & Forecast

7.3.3.1.1.             By Value & Volume

7.3.3.2.         Market Share & Forecast

7.3.3.2.1.             By Type

7.3.3.2.2.             By Water Depth

7.3.4.     Singapore Offshore Oil & Gas Rig Market Outlook

7.3.4.1.         Market Size & Forecast

7.3.4.1.1.             By Value & Volume

7.3.4.2.         Market Share & Forecast

7.3.4.2.1.             By Type

7.3.4.2.2.             By Water Depth

7.3.5.     Indonesia Offshore Oil & Gas Rig Market Outlook

7.3.5.1.         Market Size & Forecast

7.3.5.1.1.             By Value & Volume

7.3.5.2.         Market Share & Forecast

7.3.5.2.1.             By Type

7.3.5.2.2.             By Water Depth

7.3.6.     South Korea Offshore Oil & Gas Rig Market Outlook

7.3.6.1.         Market Size & Forecast

7.3.6.1.1.             By Value & Volume

7.3.6.2.         Market Share & Forecast

7.3.6.2.1.             By Type

7.3.6.2.2.             By Water Depth

7.3.7.     Australia Offshore Oil & Gas Rig Market Outlook

7.3.7.1.         Market Size & Forecast

7.3.7.1.1.             By Value & Volume

7.3.7.2.         Market Share & Forecast

7.3.7.2.1.             By Type

7.3.7.2.2.             By Water Depth

8.    Middle East & Africa Offshore Oil & Gas Rig Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value & Volume

8.2.  Market Share & Forecast

8.2.1.     By Type

8.2.2.     By Water Depth

8.2.3.     By Country

8.3.  Middle East & Africa: Country Analysis

8.3.1.     Saudi Arabia Offshore Oil & Gas Rig Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.