The global offshore drilling market experienced a slowdown in 2009 following the hectic activity witnessed in the previous years. However, the Asia Pacific offshore drilling market is expected to grow in the future due to the huge new deep water discoveries. The growth of the offshore drilling market is driven by high demand and the prices of crude oil and natural gas.
The increase in the demand for oil and natural gas due to high economic growth during the period from 2004 to 2008 was responsible for the continuous increase of crude oil and natural gas prices until mid 2008. The demand for oil and gas and the prevalent high prices stimulated increased activity in the offshore drilling market. However, since the economic slowdown and the collapse of the oil and gas prices from the record levels of 2008, many of the offshore projects have become uneconomical and have since been delayed or cancelled.
Also, offshore drilling expenditure is directly dependent on the exploration and production capital spending of the international oil companies, national oil companies and independent producers. The tight credit situation and an uncertain outlook for the oil and gas global demand have affected the capital expenditure plans of the exploration and production companies. These factors have had a negative effect on the offshore drilling expenditure in 2009. However, the future outlook for offshore drilling is encouraging and the expenditure is expected to steadily increase to 2015.
- The report provides in-depth analysis on the major factors affecting the offshore drilling industry in Asia Pacific. Its scope includes:
- Overview and analysis of the offshore drilling industry of Asia Pacific
- Analysis of data from 2000 to 2009 and forecasts to 2015
- Analysis and forecasts of offshore wells drilled and offshore drilling expenditure
- Provides country-specific data analysis of India, China, Indonesia and others
- Analyzes the opportunities and challenges in the offshore drilling industry of Asia Pacific
- Analyzes the competitive scenario in the offshore drilling industry of Asia Pacific with profiles of companies such as Transocean, Noble Corporation, Noble Offshore Drilling, Ensco International and Seadrill
Reasons to buy
- Develop business strategies with the help of specific insights about the Asia Pacific offshore drilling industry.
- Identify opportunities and challenges in the Asia Pacific offshore drilling industry.
- Increase future revenues and profitability with the help of insights on the future opportunities
- Critical success factors in the Asia Pacific offshore drilling industry.