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Top Companies in the Global Offshore Drilling Market: TechNavio Report

Maturing onshore reserves and increasing global demand for oil and gas are leading to significant increases in the offshore drilling market.

 
PRLog - Mar. 27, 2014 - LONDON, U.K. -- TechNavio, the independent London-based global research firm, has recently published its analysis of the Top Offshore Drilling Companies (http://www.technavio.com/blog/top-18-offshore-drilling-companies), to complement its report on the Global Offshore Drilling Market. The report finds the market to be growing steadily at a CAGR of 10.9 percent by 2018.

According to TechNavio analysts, depleting onshore oil reserves are at odds with the increased demand for oil and gas globally. This has forced vendors and governments to shift their focus to offshore reserves and invest in deep sea drilling in order to meet demand and increase production levels significantly. This helps in correcting the current supply-demand imbalances affecting the market, and in stabilizing volatile oil prices.

Offshore drilling is categorized into two types: shallow water drilling and deep water drilling. The offshore drilling activity that takes place in a range of 0-650 feet fall under shallow water drilling, and drilling activity beyond 650 feet is categorized as deep water drilling. The total drilling depth depends on the location of the reservoirs and the type of drilling facilities used. Different types of drilling equipment used in the industry are jack-up rigs, barges, platform rigs, submersible rigs, semi-submersible rigs, and drilling ships.

TechNavio’s breakdown of top companies in this market includes those directly involved in offshore drilling such as Atwood Oceanics Inc., China Oil Field Services Ltd., and Diamond Offshore Drilling Inc., as well as those offering industry-related services, technology and equipment, such as Haliburton Co. and Ensco PLC.

To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentation, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.

If you are interested in more information on this topic and our upcoming research on the Global Offshore Drilling Market 2014-2018 (http://www.technavio.com/report/global-offshore-drilling-...), please send an e-mail to media@TechNavio.com

About TechNavio

TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.

TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.

TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of Global Offshore Drilling Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

Decision makers and influencers in sales & marketing, strategy, product and R&D teams rely on research from TechNavio. We have a large and growing base of happy customers worldwide. Our customers include technology suppliers, end users, consulting companies, investment firms and research institutes.

Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.

Media Contact
TechNavio Media Relations
media@technavio.com

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Source:TechNavio
City/Town:London - London - United Kingdom
Industry:Energy, Technology
Tags:oil and gas, offshore drilling, haliburton, onshore drilling
Shortcut:prlog.org/12301591
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