Increasing Investment in Offshore Exploration Activities, To Drive the Global Offshore Drilling Market to $121.1 Billion By 2018

DUBLIN, August 9, 2013 /PRNewswire/ --

Research and Markets (http://www.researchandmarkets.com/research/6vz7vn/offshore_drilling) has announced the addition of the "Offshore Drilling Market - Global Trends & Forecasts To 2018" report to their offering.

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'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'

The growing demand for energy, coupled with increasing investment in 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 that drive the growth of this market are sustained high oil prices, increased investment from oil and gas operators, and a surge in deep and ultra-deepwater activities. The maturity of onshore oil reserves now shifts the focus of operator companies towards deep water offshore areas.

Among the services considered by the report, offshore contract drilling holds the biggest share with 78% of the total revenue in 2012. Coupled with increasing day rates and record backlog orders, offshore contract drilling companies find a bright outlook and add new equipment to their fleet to provide the most versatile fleets of mobile offshore drilling units. Other services such as directional drilling and logging while drilling, holds 18% and 4% of the total market revenue respectively in 2012.

This report analyzes various marketing trends and establishes the most effective growth strategy. It identifies market dynamics such as drivers, opportunities, burning issues, and winning imperatives. The size of the overall market is determined by forecasting techniques based on offshore contracted rig count, day rates, and well counts in different geographical regions which are validated through primary sources. The market data is available from 2011 to 2018, growing at a CAGR of 10.6% from 2013 to 2018.

Companies Mentioned

- Atwood Oceanics Inc
- Baker Hughes Inc
- China Oil Field Services Limited
- Diamond Offshore Drilling Inc
- ENSCO PLC
- Fred Olsen Energy ASA
- Gyrodata Inc
- Halliburton Company
- KCA Deutag
- Maersk Drilling
- Nabors Industries Ltd
- Noble Corporation
- Rowan Companies PLC
- Schlumberger Limited
- Scientific Drilling International
- Seadrill Ltd
- Superior Energy Services
- Transocean Ltd
- Weatherford International Ltd

For more information visit http://www.researchandmarkets.com/research/6vz7vn/offshore_drilling

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Sector: Energy and Natural Resources

SOURCE Research and Markets