Transocean Ltd. announced that it got selected for a drilling contract by Equinor. In support of the Northern Lights Carbon Capture Storage Project, the Transocean Enabler will drill one carbon injection well and a sidetrack for another carbon injection, which was earlier drilled in 2020.
Nabors Industries Ltd. announced the launch of the first-ever fully automated land drilling rig, PACE-R801. It was developed with the combination of Smart Suite software with Canrig robotics.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4976
Published Date: Jun 02, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing demand for oil and gas and higher drilling of unconventional resources are the major factors driving the market growth.
The market size of drilling rig is anticipated to attain a CAGR of ~6% over the forecast period, i.e., 2023 â€“ 2035.
The major players in the market are Maersk A/S, Archer Ltd., China Oilfield Services Ltd., Eni S.p.A, Helmerich and Payne Inc., KCA Deutag, Loews Corporation, Nabors Industries Ltd., Transocean Ltd., Valaris Plc, and Weatherford International Plc
The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, depth, and by region.
The jack-up rig segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The rising popularity of renewable energy and the high process of oil and gas are estimated to be the growth hindering factors for the market expansion.
The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.