Global Deepwater and Ultra-Deepwater Drilling Market 2019-2023.

Global Deepwater and Ultra-Deepwater Drilling Market: About this market

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Jul 23, 2019, 16:20 ET

NEW YORK, July 23, 2019 /PRNewswire/ -- This deepwater and ultra-deepwater drilling market analysis considers sales from both deepwater drilling and ultra-deepwater drilling. Our analysis also considers the sales of deepwater and ultra-deepwater drilling in APAC, Europe, MEA, North America, and South America. In 2018, the deepwater drilling segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising demand for oil and gas will play a significant role in the deepwater drilling segment to maintain its market position. Also, our global deepwater and ultra-deepwater drilling market report also looks at factors such as growing demand for oil and natural gas, rise in deepwater and ultra-deepwater drilling E&P activities, and increase in global offshore rig count. However, environmental concerns associated with deepwater and ultra-deepwater drilling E&P activities, fluctuations in price of crude oil and natural gas, and rise of renewable energy may hamper the growth of the deepwater and ultra-deepwater drilling industry over the forecast period.

Read the full report: https://www.reportlinker.com/p05797189/?utm_source=PRN

Global Deepwater and Ultra-Deepwater Market: Overview

Rise in deepwater and ultra-deepwater E&P activities

The growing population and industrial developments are increasing the global demand for energy. Thus, governments of various countries are taking initiatives to improve energy security by increasing oil and gas production. Moreover, deepwater and ultra-deepwater oil and gas projects have been increasing over the past few years owing to rising investments in deepwater and ultra-deepwater drilling. Hence, the rise in E&P activities will drive the growth of the deepwater and ultra-deepwater drilling at a CAGR of over 8% during the forecast period.

Advances in offshore pressure control technologies

A majority of the incidents and fatal accidents on the rig floor happen due to the manual handling of rig equipment. This is pushing oil and gas operators and regulators to enhance oilfield safety by adopting new technologies which meet the safety requirements in deepwater and ultra-deepwater oil and gas operations. Some of the oil and gas companies are focusing on constructing revolutionary pressure control equipment that allows well operators to see inside the wellhead. Many companies are focusing on improving equipment such as offshore blowout preventer (BOP) systems to tackle the challenges posed by ultra-deepwater oilfield reservoirs. Such advances in drilling technologies are expected to enhance the safety of deepwater and ultra-deepwater well drilling activities.

Competitive Landscape

With the presence of several major players, the global deepwater and ultra-deepwater drilling market is fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading deepwater and ultra-deepwater drilling companies, that include Diamond Offshore Drilling Inc., Ensco Rowan Plc, Halliburton Co., Saipem Spa, Schlumberger Ltd., and Transocean Ltd.

Also, the deepwater and ultra-deepwater drilling market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.

Read the full report: https://www.reportlinker.com/p05797189/?utm_source=PRN

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