A drillship is a merchant vessel designed for use in exploratory offshore drilling of new oil and gas wells or for scientific drilling purposes. In most recent years, the vessels are used in deepwater and ultra-deepwater applications, equipped with the latest and most advanced dynamic positioning systems. A drill ship is a particular type of mobile offshore drilling unit (MODU) that is composed of a ship with a drilling rig on its top deck. These ships can go right to the drill site.
Deepwater exploration and drilling have shown a remarkable increase over the past few years. This is due in part to the development of new technologies which have reduced operational costs and risks, as well as the finding of reservoirs that will produce high production wells. Factors like growing oil demand due to rising population rates, increasing E&P expenditures, and improving worldwide economic conditions are boosting the growth in drillship market. Despite the existence of various growth drivers, there are certain challenges faced by the industry including environmental concerns, offshore accidents, and depletion of oil reserves which can potentially hinder the growth of the industry. The year 2013 witnessed slowdown in orders for drillships due to the uncertain outlook for oil prices and inventory of unchartered vessels from previous orders.
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The report, “Global Drillship Market” analyzes the development of the respective market, with a focus on regions including the Brazil, West Africa and the US GOM as these areas has long been considered part of the ‘Golden Triangle’ for deepwater drilling. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report.
The industry is predominated by a handful of players including Samsung Heavy, Hyundai Heavy and DSME. These are Korea’s big three shipbuilders and have an oligolopoly in the offshore platform segment, especially drillships, due to their competitive advantages like infrastructure; track record with international oil companies; and technological capabilities. The profiles of these leading players are also included in the report along with their key financials and strategies for growth.
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By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
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