Offshore Drilling Market to Recover by 2011: ReportsandReports

Strategic Insights -

ReportsandReports has announced the addition of a new report on the global offshore drilling market to its store. The report highlights the importance of offshore drilling in the global E&P business, with a fundamental role in extracting oil and gas production from offshore locations. According to the report, global offshore drilling activity will stabilize in 2010, return to growth in 2011, and grow rapidly in the subsequent two years.

Key Takeaways:

  • Offshore drilling represents nearly 50% of offshore capex within the global E&P business.
  • Drilling has a fundamental role in the location and extraction of all the oil and gas production that can be realized from offshore locations.
  • Global offshore drilling activity will be fully recovered by 2011, with numbers peaking in 2007.
  • Around 18,000 offshore wells were drilled around the world over the last five years, with a total spend of $291 billion.
  • The amount of spend is likely to grow by at least 25% over the period to 2014.
  • Deepwater drilling is the main driver for expanding levels of activity in the market, with varying prospects for recovery across geographic regions.
  • Related reports include the Asia-Pacific Oil and Gas market, the European and Former Soviet Union Oil and Gas market, the Africa and Middle East Oil and Gas market, and the Americas Oil and Gas market.

Statistics:

  • Offshore drilling represents nearly 50% of offshore capex within the global E&P business.
  • $291 billion was spent on offshore drilling over the last five years.
  • 18,000 offshore wells were drilled over the last five years.
  • The amount of spend is likely to grow by at least 25% over the period to 2014.
  • 2010 is expected to be a stabilization year, with a return to growth in 2011.

Sources:

  • ReportsandReports - Drilling for Offshore Oil and Gas (Global) Market Research Report
  • ReportsandReports - Oil and Gas-Europe and the Former Soviet Union- Market Research Report
  • ReportsandReports - Oil and Gas-Asia-Pacific- Market Research Report
  • ReportsandReports - Oil and Gas-Africa and Middle East- Market Research Report
  • ReportsandReports - Oil and Gas-The Americas- Market Research Report