Jackup rigs are deployed in all major offshore production basins but are particularly numerous in the Middle East, South East Asia, the US GOM and the North Sea. The largest, most modern Jackups can operate in water depths of up to 490 feet. Jackups drill through slots in their deck or have the ability to extend the drilling equipment out over the side of the deck a cantilever.
The global Jackup rig market is all set to witness double digit growth rate in coming years fuelled by the increase in the global offshore exploration and production activity. The offshore exploration and production activity is growing as a result of rise in energy demand due to growing world population.
The key factors driving the growth of the Jackup rig market are rapid growth in oil demand, rising global energy demand, growth in E&P spending and growing economy. Some of the noteworthy trends and developments of this industry are contracted and uncontracted Jackup rig market and expansion of Jackup rig market in South East Asia. However, the expansion of global Jackup rig market is hindered by depletion of oil reserves, declining commodity prices and cyclical weakness in deep water market.
The report “Global Jackup Rig Market” provides an in-depth analysis of the Jackup rig market, with a focus on regions including the South East Asia, Middle East and Mexico. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry, Keppel Corporation, Sembcorp Industries and Cosco Corporation are being profiled.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.