The offshore drilling market report researches and evaluates the impact of the COVID-19 outbreak on the offshore drilling industry, involving potential opportunity and challenges, drivers and risks. The report also includes several valuable information on the offshore drilling market, derived from numerous sources. The research report studies the competitive environment of the offshore drilling industry based on the company profiles and their efforts on accelerating production volume.

Offshore drilling refers to a mechanical process through which a wellbore is drilled below the seabed. This process is usually done to discover and harvest petroleum that lies under the seabed in the form of rock. Offshore drilling is used to describe drilling activities on the continental shelf and used for drilling in reservoirs, marine waters, and inland seas.

Key Players of the Offshore Drilling Market

The offshore drilling market report provides an overview of the leading players in the market, including Seadrill Limited, Diamond Offshore Drilling, Inc., Transocean Ltd., Weatherford, Halliburton, Schlumberger Limited, Atwood Oceanics, Inc., Baker Hughes, Dolphin Drilling AS, and Valaris plc, among others.

According to the offshore drilling industry analysis, the rising investment in developing economies, increasing technological advancements, and liberalization of oil & gas industry in Mexico are the significant factors that are boosting the growth of the market. Additionally, the accelerating demand for natural gas at the global level and increasing subsea production & subsea infrastructure is driven by the rising number of deep & ultra-deepwater reservoirs will further surge the demand of the offshore drilling market over the coming years.

As per the offshore drilling market forecast, the increasing consumption of oil & petrochemicals across numerous industries such as transportation, textiles, plastics, energy, and paints & coatings is boosting the demand for exploration activities in offshore sites thus propelling the growth of the offshore drilling market. Furthermore, the increasing focus on deepwater drilling and rising arctic discoveries are creating new growth opportunities for the market. On the other edge, the fluctuating oil prices and high capital investment are likely to restrain the growth of the global offshore drilling market.

Market Segmentation

Offshore Drilling Market Report Segment by Service:
• Contract Drilling
• Directional Drilling
• Logging While Drilling (LWD)
• Measurement While Drilling (MWD)

Offshore Drilling Market Report Segment by Application:
• Shallow Water Drilling
• Deepwater Drilling
• Ultra-Deepwater Drilling

Offshore Drilling Market Report Segment by Region:
• North America

o United States of America
o Canada

• Asia Pacific

o China
o Japan
o India
o Rest of APAC

• Europe

o United Kingdom
o Germany
o France
o Spain
o Rest of Europe

• RoW

o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)

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