Two new offshore drilling contracts worth a combined total of over 550 million dollars have been given to Saipem, one in the Middle East and the other in the Mediterranean Sea. By securing a ten-year extension to the current contract in the Middle East, Saipem has ensured the continuation of the ongoing activity of the Perro Negro 7 jack-up drilling unit beginning in the second half of the year. This was made possible in part by the asset's excellent performance during the execution of the activities.
The business combination between Noble Corporation plc ("Noble") and The Drilling Company of 1972 A/S ("Maersk Drilling") has been completed successfully, according to a press release from Noble. Through the successful completion of Noble's suggested voluntary public share exchange offer to Maersk Drilling shareholders, the transaction was completed. From October 3, 2022, the businesses will work together as a single entity.
Author Credits: Payel Roy, Dhruv Bhatia
Report ID: 4895
Published Date: Oct 30, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
Increasing exploration activities, increasing demand for natural gas and oil, and increasing production of unconventional oil & and gas are some of the factors driving the market growth.
The market size of offshore drilling rigs is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2024-2036.
The major players in the market are Stena Drilling, Energean Israel Limited, Seadrill Limited, Saipem, Noble Corporation plc, JX Nippon Oil & Gas Exploration, INPEX CORPORATION, Japan Offshore Drilling, Okumura Gumi Co., Ltd., Ohara Corporation and others.
The deepwater and ultra-deepwater segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.
The market in the North American region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.