Offshore Rig Construction Sector Would Witness a Significant Rise in Shallow Water Rig Construction Activity
As the majority of countries possessing commercial potential in terms of their offshore reserves worldwide, seek to achieve self-reliance in terms of energy, the offshore exploration and production industry is expected to make significant investments in the discovery and development of fresh offshore reserves. This, in turn, will mean major infrastructure investments by exploration and production companies in the form of new-build offshore rigs, especially for untapped shallow water regions with exploration potential. Subsequently, the offshore rig construction expenditure is expected to rise between the period of 2011 and 2015. However, the cost per shallow water rig, which has declined by 15-20% from 2008 values by 2010, will continue to witness a decline until 2012.
Rapidly Growing Demand for Premium and Ultra-Premium Jack-ups Will Create a Shortage of Premium Jack-ups by 2015
With offshore drilling demanding drilling capabilities in water depths exceeding the conventional limits of around 350 feet, and drilling in harsher environments, premium and ultra-premium jack-up rigs, capable of drilling into water depths up to 625 feet will be in tremendous demand. The current scarcity for the premium and ultra-premium class jack-ups will continue to exist in the future as demand for premium-class jack-up rigs rises rapidly to 2015. Besides, it should be noted that premium and ultra-premium jack-ups have higher day rates than conventional standard duty jack-ups. With expectations being that shallow water drilling activity will rise substantially, the business potential for harsh-environment and premium and ultra-premium jack-up rig construction companies is expected to be very strong in the future.
Rise in Deep and Ultra-Deep Water Drilling in Brazil is expected to boost the Drillship Construction Industry
Offshore Brazil is being positively looked at as a region with major potential for deepwater exploration and production by oil exploration and production companies. Major global offshore drilling contractors such as Transocean and Seadrill have invested considerable capital for ensuring future deployment of deepwater rigs in offshore Brazil, in the form of orders for drillships and semisubmersibles. Also, Petrobras, the national oil company of Brazil, has ordered substantial number of drillships to be deployed in the region. These developments are expected to boost the business development of global rig construction companies, mainly based in South Korea. The business scenario has also fueled rig construction activity in Brazil, with local companies such as Odebrecht having heavy investment plans with regards to deepwater rig construction until 2013. The federal government of Brazil is also expected to encourage investments in offshore rig construction through various initiatives.
However, the key to business success for the relatively inexperienced Brazilian rig construction companies with regards to deepwater rig construction will be to initially partner with international rig construction companies to gain technological know-how and expertise, along with valuable experience in rig building. Besides, in order to gain substantial market advantage and thrive in competition, Brazilian shipyards will need to focus on providing rigs to offshore drilling contractors at competitive prices, such as those offered by South Korean shipyards. With this being a possibility, the Brazilian shipbuilding industry is expected to witness impressive growth in terms of its rig building business.
Offshore Rig Construction Market to 2015 - Premium Jack-up Segment Witnessing High Growth Despite Massive Supplies During the Rig Construction Boom provides an in-depth analysis of the global offshore rigs construction market and highlights the various concerns and shifting trends in the region. The report provides forecasts of the global market to 2015. The report also provides segmental forecasts of the market. The report provides in-depth analysis of the key trends and challenges in the global offshore rigs construction industry. The report also provides an analysis of the geographical trends in each of the market segments. An analysis of the competitive scenario and market share analysis is also provided for each of the market segments.
The report provides in-depth analysis on the global offshore rig construction industry. Its scope includes:
- Complete overview of the future prospects of the global offshore rig construction Industry
- Analyzes the offshore rig construction Industry in the major regions of the world. Regions covered include North America, South and Central America, Europe, Middle East and Africa and Asia Pacific
- Analyzes each of the different segments of the offshore rig construction Industry.
- Analyzes the competitive scenario providing a market share analysis of the key competitors in the industry for 2009.
- Analysis of the key drivers and restraints, with review of the various concerns, shifting trends and major regions in the global offshore rig construction Industry. Trends are also provided at a regional and segment level.
Reasons to buy
- Develop business strategies with the help of specific insights about the offshore rigs market.
- Identify oppurtunities and challenges in the global offshore rigs industry.
- Understand the market positioning of the major offshore rig suppliers.
- Increase future revenue and profitability with the help of insights on the future opportunities and critical success factors in the global offshore rigs market.
- Benchmark your operations and strategies against the major players in the global offshore rigs market.
- Identify the key trends in the offshore rigs market and plan ahead on the project requirements.
Click for report details: Offshore Rig Construction Market to 2015 - Premium Jack-up Segment Witnessing High Growth Despite Massive Supplies During the Rig Construction Boom