What is Drillships Market Scope?
A drillship is a ship designed for drilling purposes such as new oil and gas wells and scientific drilling. The increasing oil and gas consumption across the globe has been boosting the demand for drillship in the world. This implies, rising new offshore projects with a high investment such as Libra Field, Brazil (USD 91 billion), Coral South LNG, Offshore Mozambique (USD 4.67 billion) and others. Additionally, high operational efficiency of the advanced drillship and emergence of ultra-deepwater drillship with new features such as advanced positioning control system, equipped with multi-machine control and others have been supplementing the overall growth of the market. However, huge initial investment and lack of skilled employees are the factors that are limiting the growth.
The Drillships market study is being classified, by Application (Drilling (Shallow Water, Deep Water, Ultra-Deepwater), Casing and Tubing Installation, Subsea Tree Installations and Others) and major geographies with country level break-up.
The Manufacturers having a strong hold in the market are Maersk Drilling, Ocean Rig, Diamond Offshore Drilling, Stena Drilling. Analysts at AMA predicts that Manufacturers from South Korea and European will contribute to the maximum growth of Global Drillships market throughout the predicted period.
Maersk Drilling (Denmark), Ocean Rig (Cyprus), Diamond Offshore Drilling (United States), Stena Drilling (United Kingdom), Daewoo Shipbuilding & Marine Engineering (South Korea), Fincantieri-Cantieri Navali Italiani (Italy), Hanjin Heavy Industries (South Korea), Hyundai Heavy Industries (South Korea), Hyundai Mipo Dockyard (South Korea) and JSC Kherson Shipyard (Ukraine) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Mitsubishi Heavy Industries (Japan), Samsung Heavy Industries (South Korea) and STX Offshore & Shipbuilding (South Korea).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Drillships market by Type, Application and Region.
On the basis of geography, the market of Drillships has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their development strategies
On September 2018, Transocean Ltd (leader in ultra-deepwater and harsh environment drilling) has announced the agreement for acquiring Ocean Rig. The main aim of the acquisition has stated by CEO of Transocean Ltd, “The proposed acquisition of Ocean Rig provides us with a unique opportunity to continue enhancing our fleet of ultra-deepwater and harsh environment floaters, without compromising our liquidity or overall balance sheet flexibility”
On March 2019, Sonangol Group had launched mew drillship named as The Libongos drillship. The drillship has launched by the CEO of the company (Carlos Saturnino). At the launch event, the CEO of the company has stated “This project is another milestone in relaunching the Angolan oil industry, in the quest to increase production and national reserves. It also increases the integrated service offerings of the primary chain, diminishing the dependency on external availability in meeting the exploration program milestones”
Influencing Market Trend
- An Emergence of Ultra-Deepwater Drillship with New Features such as Advanced Positioning Control System, Equipped With Multi Machine Control and Others
Market Drivers
- Rising New Offshore Projects such as Libra Field, Brazil (USD 91 billion), Coral South LNG, Offshore Mozambique (USD 4.67 billion) and others
- Increasing Demand for Drillship due to its High Operational Efficiency
Opportunities
- Increasing R&D Expenditure Implies Advancement in Drillship and New Launches
- Increasing Demand from Asian Countries due to High Energy Consumption
Restraints
- Strict Government Regulation Associated with Drilling
- Intense Competition among Established Key players
Challenges
- Lack of Skilled Workforce in Many Geographical Regions
- Huge Initial Investment for Manufacturing Drillship
Key Target Audience
Drillship Manufacturers, Raw Material Suppliers, Distributors and Suppliers, Private Research Organizations, Government Association, Potential Investors and Others
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