Jackup Rigs Market Size Analysis & Share, Different Demand Industry by Region, Main Consumer Profile Forecast to 2022

Jackup Rigs Market
Jackup Rigs Global Market Report by Type, by Application (Oil & Gas and Offshore wind turbine installations), by Operating Depth (Shallow water, Deep water, Ultra deep water) and by Regions – Global Forecast To 2022

Jackup Rigs Market Top Key Players:-

There have been significant investments made in recent times, in the oil and gas engineering and procurement activities, especially in the Asia-Pacific and Middle East regions, where there is a huge demand for offshore drilling activities.

Identified and profiled in MRFR analysis; some of the key players of global jackup rigs markets are Rowan Companies Inc.(U.K.), Noble Corporation plc (UK), KCA DEUTAG Ltd.(Scotland), Maersk Drilling (Denmark), Diamond Offshore Drilling, and Inc. (U.S), COSL (China).Other prominent players operating in the global market of Jackup Rigs are Transocean Ltd. (Switzerland), Seadrill Limited (Bermuda), ENSCO Plc (UK), Halliburton (U.S.) and others.

 

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Market Overview:-

The gap between demand and supply in O&G sector has prompted the need for efficient search and extraction of oil and gas. Recent discoveries of offshore energy reserves in some of the regions have triggered the growth in the Jackup rigs market. Jackup rigs systems are implemented to maximize oil and gas extraction. Additionally, a renewed interest in shale gas extraction has also driven the Jackup rigs market. Moreover, growth of the Jackup rigs market is propelled by factors such as growing offshore activities in the harsh environmental conditions of North Sea and depleting oil and gas reserves in the US Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean are driving the demand for Jackup rigs globally. 

On the other hand, offshore drilling projects require a much longer timeline than onshore drilling rigs, this is a major factor that restricts the growth of the market in forecast period between 2016 and 2022. However, the rising investments in oil and gas activities are expected to provide impetus to the market growth during g the forecast period.

 

 

Worldwide Jackup Rigs Market – Segmentation

For the convenience of the report and enhanced understanding; the Jackup rigs Market is segmented in to 4 key dynamics

By Type                       : Comprises Independent leg type, Mat-type jackups.

By Operating Depth   : Shallow water, Deep water, and Ultra deep water.

By Application            : Oil & Gas and Offshore wind turbine installations.

By Regions                  :  North America, Europe, APAC and Rest of the World.

 

 

Worldwide Jackup Rigs Market – Competitive Analysis

As the global Demand for Jackup Rigs is recuperating leading to escalate the demand for offshore (harsh-environment) exploration; well established key players are getting engrossed catalyzing sumptuous M&A and Collaboration activities and think that it’s the best time to make counter-cyclical investments in the highest-specification assets.

Oct. 17, 2017, Rowan Companies plc. announced a joint venture with ARO Drilling which is a 50/50 joint venture with the Saudi Arabian Oil Company (Saudi Aramco). As part of the initial startup of ARO Drilling, Rowan and Saudi Aramco contributed equal amounts of cash into the joint venture. Following these contributions, Rowan sold three of its jack-up drilling rigs to ARO Drilling, including the J.P. Bussell, which was previously idle, and Saudi Aramco sold one of its jack-up drilling rigs to ARO Drilling.

Oct.6, 2017, Borr Drilling Ltd. announced acquisition of nine premium jack-up rigs from Singapore PPL. Shipyard PTE Ltd.  Total consideration for transaction is expected to be approximately USD 1.3 billion.‚Äč

March 2017, Transocean (RIG.N) announced buying Norway’s Songa Offshore (SONG.OL).

March 2017, Borr Drilling announced acquisition of 15 jack-up rigs from Transocean.

 

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Worldwide Jackup Rigs Market – Regional Analysis 

North America, Europe and Africa account for the large markets for offshore drilling owing to the increasing investments in engineering and procurement activity in the oil & gas exploration activities in these regions.

Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean is driving the demand for Jackup rigs in these region. Regions such as Africa and Latin America have emerged as attractive prospects for offshore E&P activities, due to their vast unexplored hydrocarbons reserves. 

There have been significant investments made in recent times, in the oil and gas engineering and procurement activities, especially in the Asia-Pacific and Middle East regions, where there is a huge demand for offshore drilling activities.

 

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