Deepwater Hydrocarbons Exploration Market : With world oil reserves depleting by the day, the hydrocarbons under the ocean floor remain the sole untapped pockets of oil and gas in the world. Increasing number of oil exploration and production companies are showing interest in tapping this resource. Of all the proven hydrocarbon reserves on the earth’s surface, deepwater reserves account for nearly 11%.
Multiple factors are driving growth in this industry today. Earlier the industry faced constraints such as high development costs and nascent stage technologies making investment in it onerous. However with modern technology advancements and increasing number of players in the business, costs of drilling have been driven down to a competitive level.With increasing hydrocarbon prices, the deepwater oil drilled is also becoming cost competitive with surface drilled oil. Proper regulatory framework will also go a long way in supporting this industry.
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The deepwater hydrocarbon industry may be divided into three broad verticals, namely deepwater exploration, deepwater drilling and deepwater production. Also the industry may be segmented on the basis of depth at which exploration and drilling is being done (Deep water and Ultra deep water). Different depths at which drilling are done has impacts on cost per barrel of hydrocarbons produced. Segmentation can also be done on the type of drilling rigs (fixed platform rig, jack up rig, compliant tower rig, subsea systems, spar platforms) used according to depth of drilling and other factors.
Offshore development in Brazil is likely to lead the global deepwater exploration markets globally in the future. Substantial market shares will be held by Brazil, Africa and Mexico centering upon the ‘Deepwater Triangle’ containing very large reserves. Less traditional yet upcoming areas of development in the sector would include the Asia Pacific and European regions. Middle Eastern countries show significant reserves and development potential in the future.
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Some of the key players in the deepwater and ultra-deepwater exploration industry include Schlumberger Ltd, Transocean Ltd, Oceaneering International Inc., Brazilian Petroleum Corporation, and Trico Marine Services Inc among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
• North America
• Asia Pacific
• Rest of the World
This report provides comprehensive analysis of
• Market growth drivers
• Factors limiting market growth
• Current market trends
• Market structure
• Market projections for upcoming years
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This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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