Global Offshore Rig Construction Market Outlook to 2018
Rising Energy Demand and Deepwater Drilling Activities to Intensify the Market
Region:Global
Product Code:KR266
November 2014
243
About the Report
The report titled “Global Offshore Rig Construction Market Outlook to 2018 - Rising Energy Demand & Deepwater Drilling Activities to Intensify the Market” presents a comprehensive analysis of the industry covering aspects including market size by offshore rig deliveries, active offshore rigs, rigs (or platforms) fleet, rigs (or platforms) contracted and value of working rigs and market segmentation by different types of offshore rigs, by geography including regions and countries for offshore deliveries and active offshore rigs; by offshore rig day rates, rig utilization rates and others. The report also entails a detailed description on the recent trends and developments, cost analysis and issues in the market and the competitive scenario of major players in the industry along with the offshore rig deliveries of major companies in the global offshore rig construction market.
The world consumed a colossal 86,808.2 thousand barrels/day (bbl/d) of oil in the year 2013. Hence, to meet the immense demand for fossil fuels, petroleum companies are persistently drilling in the subsurface offshore locations for new reserves. Offshore rigs are utilized by oil and gas companies to explore for hydrocarbons and to simultaneously develop oil and gas fields. The construction of offshore rig initiates with contract orders for newbuild rigs. The rigs are constructed as per the specific requirements which include the consideration for water and drilling depth, offshore environment, method of drilling and others. There are several shipyards around the world that build offshore rigs. The shipyards delivered ~ offshore rigs for the ongoing offshore assets development in 2007. The active offshore rigs in the world have registered a minimal CAGR of 0.6% during the period 2007-2013. Rig rates are volatile in nature as they are highly dependent on oil & gas prices and rig utilization rate. The annual rate of the working rigs was estimated to be gigantic USD ~ million as of July 2014.
The offshore rigs include jackup, semisubmersible, drillship and tender rigs. These rigs are primarily utilized for drilling activities. There has been a massive rise in the supply of tender rigs from ~ rig deliveries in the year 2008 to stupendous ~ tender rig deliveries by the year 2013. Asia Pacific region had accounted for ~ rig deliveries out of the total ~ deliveries in the world in 2013, thus capturing 92.6% of the total rig deliveries during the year. Keppel Offshore and Marine Company shipyard, Keppel FELS in Singapore is the leading shipyard in the region which facilitates the deliveries for offshore rigs peculiarly the jackup rigs. Singapore is the leading country with the highest number of rig deliveries in the world, which Singapore had escalated from ~ deliveries in the year 2011 to noticeable ~ rigs by the year 2013. The US was the leading country as it withheld the topmost position in active offshore rig count in the world in 2013.
The offshore rigs are constructed to involve in E&P activities of hydrocarbons involving oil and gas. The offshore rigs and platforms include jackup, fixed platform, semisubmersible, drillship, drill barge and inland barges. Jackup rigs are usually used for shallow water drilling. It is computed that ~% of the total contracted rigs were jackup rigs as of July 2014. There were ~ contracted inland barges globally followed by a total of rig fleet size of ~ inland barges as of July 2014. Asia Pacific withholds ~% of the total rig or platform fleet of ~ across the globe as of July 2014. Rig utilization rate signifies the number of rigs being used (working rigs) as compared to total rigs fleet. The utilization rate of drill barge in the world has mounted from 80.0% in July 2013 to appreciable ~% by July 2014. Day rate is the daily price to lease a rig which encompasses the use of rigs and the crew. The semisubmersible rigs drilling at WD of 1,500 ft or more, drilled with an average day rate of USD ~ per rig in July 2014. . There were ~ working semi submersible rigs globally which eventually led to USD ~ of average day rates for these rigs in July 2014.
The offshore drilling activities are regulated with the hydrocarbon potential in a peculiar geographical location. The urge for energy is persuading contractors and oil & gas E&P companies to find hydrocarbons in deepwater offshore locations. The offshore production is affected by the technological capabilities of an offshore rig. Hence, there is a need for the construction of state of art technology drilling rigs to facilitate the same. The global offshore rig construction industry is forecasted to deliver ~ offshore rigs in the year 2014. It includes delivery of ~ jackup rigs which will account for ~% of the total rig deliveries in the world in 2014. The semisubmersible rigs are anticipated to witness a substantial enhancement from ~ rig deliveries in 2014 to ~ rig deliveries by the year 2015. DSIC Offshore is likely to expand its rigs construction fleet in the forthcoming years. The company has a total of ~ offshore rigs under construction which are to be delivered during the period 2014-2016. China is emerging as a strong contender to construct offshore rigs in the world. The country is developing the competitive edge as exhibited by the other shipyards in South Korea and Singapore. China is likely to capture ~% of the total offshore rig deliveries in the world in 2014 which will further mount to ~% by the year 2016.
Key Topics Covered in the Report
- The market size of global offshore rig construction market in terms of offshore rig deliveries, active offshore rigs, rigs (or platforms) contracted and rigs (or platforms) fleet in volume and value of working rigs(or platforms)
- Global offshore rig construction market segmentation by type of offshore rig deliveries; offshore rig deliveries by regions and countries
- Global offshore rig construction market segmentation by active offshore rigs by regions and by countries
- Global offshore rig construction market segmentation by offshore rigs (or platforms) contracted & rig (or platforms) fleet by different types of rigs (or platforms) and by regions
- Global offshore rig construction market segmentation by active offshore rig characterization (oil /gas/miscellaneous) in volume by regions
- Global offshore rig construction market segmentation by rig utilization rate by different types of rigs and platforms and by regions
- Global offshore rig construction market segmentation by offshore rig day rates by different types of rigs and platforms and by regions
- Global offshore rig construction market by geography covering Asia Pacific, Latin America, Middle east and North America on the basis of offshore rig deliveries, active rigs, rigs (or platforms) contracted & rig (or platforms) fleet, offshore rig characterization (oil /gas/miscellaneous), rig utilization rates
- Cost analysis and issues (including emissions, accidents) related to global offshore rig construction market
- Industry trends and developments and government legislations in global offshore rig construction market
- Competitive landscape of major offshore rig construction companies and service providers & drilling contractors of rig construction companies; market share by rig deliveries of offshore rig construction companies
- Future projections and macro economic factors of global offshore rig construction market (including regional industry factors of Asia Pacific, Latin America, Middle east and North America)
Products
Offshore rig construction, rigs contracted, rigs fleet, jackup rig, drillship, semisubmersible, tender, active offshore rigs
Companies
Keppel Offshore & Marine, Sembcorp Marine, Samsung Heavy Industries, COSCO, Dalian Shipbuilding Industry Co., Hyundai Heavy Industries, ABG Shipyard, Lamprell, Daewoo, Sao Roque do Paraguacu, CPLEC, China Merchants Heavy Industry, CIMC Raffles
Table of Contents
1. Global Offshore Rig Construction Industry Introduction
1.1. Global Offshore Rig Construction Industry Value Chain
Specifications of Offshore Rig or Platform
Stages of Construction of Offshore Rig or Platform
2. Global Offshore Rig Construction Market Size
2.1. By Offshore Rig Deliveries in Volume, 2007-2013
2.2. By Active Offshore Rigs, Rigs (or Platforms) Contracted and Rigs (or Platforms) Fleet in Volume, 2007-2013
2.3. By Value of Working Rigs/Platforms, 2014
3. Global Offshore Rig Construction Market Segmentation
3.1. By Offshore Rigs Deliveries in Volume, 2007-2013
3.1.1. By Type of Offshore Rig (Jackup, Drillship, Semisubmersible and Tender), 2007-2013
3.1.2. By Regions, 2011-2013
3.1.3. By Countries, 2011-2013
3.2. By Active Offshore Rigs in Volume, 2007-2013
3.2.1. By Regions, 2007-2013
3.2.2. By Countries, 2007-2013
3.3. By Offshore Rigs (or Platforms) Contracted & Rig Fleet in Volume, 2014
3.3.1. By Rigs and Platform Type (Jackup, Fixed Platform Rig, Semisubmersible, Drillship, Drill Barge and Inland Barge), 2014
3.3.2. By Regions, 2014
3.4. By Active Offshore Rig Characterization (Oil /Gas/Miscellaneous) in Volume, 2012-2013
3.4.1. By Regions, 2012- 2013
3.5. By Rig Utilization Rate, July 2013- July 2014
3.5.1. By Type of Rig / Platform (Drill Barge, Drillship, Jackup, Semisubmersible and Tender), July 2013 – July 2014
3.5.2. By Regions, July 2013- July 2014
3.6. By Offshore Rig Day Rates
3.6.1. By Rig/Platform Type, 2014
3.6.2. By Regions, 2013
4. Regional Overview of Offshore Rig Construction Market in the World
4.1. Asia Pacific Offshore Rig Construction Market Introduction
4.1.1. Asia Pacific Offshore Rig Construction Market Size by Number of Active Rigs, Rigs Contracted, Rigs Fleet And Offshore Rig Deliveries
4.1.2. Asia Pacific Offshore Rig Construction Market Segmentation
4.1.2.1. By Number of Offshore Rigs (or Platforms) Fleet & Rigs (or Platforms) Contracted by Different Regions, 2014
4.1.2.2. By Offshore Rig Characterization (Oil /Gas/Miscellaneous) in Volume, 2012-2013
4.1.2.3. By Percentage of Rig Utilization, July 2013- July 2014
4.1.3. Macroeconomic and Industry Factors in Asia Pacific Offshore Rig Construction Market
4.1.3.1. Oil Production in Asia Pacific, 2007-2018
4.1.3.2. Natural Gas Production in Asia Pacific, 2007-2018
4.1.3.3. Proved Oil Reserves and Reserve to Production Ratio in Asia Pacific, 2007-2018
4.1.3.4. Proved Gas Reserves and Reserve to Production Ratio in Asia Pacific, 2007-2018
4.2. Latin America Offshore Rig Construction Market Introduction
4.2.1. Latin America Offshore Rig Construction Market Size by Number of Active Rigs, Rigs (or Platforms) Contracted, Rigs (or Platforms) Fleet And Offshore Rig Deliveries
4.2.2. Latin America Offshore Rig Construction Market Segmentation
4.2.2.1. By Number of Offshore Rigs Fleet & Rigs Contracted, 2014
4.2.2.2. By Offshore Rig Characterization (Oil /Gas) in Volume, 2012-2013
4.2.2.3. By Percentage of Rig Utilization, July 2013- July 2014
4.2.3. Macroeconomic and Industry Factors in Latin America Offshore Rig Construction Market
4.2.3.1. Oil Production in Latin America, 2007-2018
4.2.3.2. Natural Gas Production in Latin America, 2007-2018
4.2.3.3. Oil Reserves and Reserve to Production Ratio in Latin America, 2007-2018
4.2.3.4. Natural Gas Reserves and Reserve to Production Ratio in Latin America, 2007-2018
4.3. Middle East Offshore Rig Construction Market Introduction
4.3.1. Middle East Offshore Rig Construction Market Size by Number of Active Rigs, Rigs (or Platforms) Contracted, Rigs (or Platforms) Fleet And Offshore Rig Deliveries
4.3.2. Middle East Offshore Rig Construction Market Segmentation
4.3.2.1. By Number of Offshore Rigs Fleet & Rigs Contracted, 2014
4.3.2.2. By Offshore Rig Characterization (Oil /Gas/Miscellaneous) in Volume, 2012-2013
4.3.2.3. By Percentage of Rig Utilization, July 2013- July 2014
4.3.3. Snapshot of Major Offshore Rig Construction Companies in Middle East
4.3.3.1. Drydocks World Dubai Company
4.3.3.2. Lamprell Company
4.3.4. Macroeconomic and Industry Factors in Middle East Offshore Rig Construction Market
4.3.4.1. Oil Production, 2007-2018
4.3.4.2. Natural Gas Production, 2007-2018
4.3.4.3. Oil Reserve to Production Ratio, 2007-2018
4.3.4.4. Gas Reserve to Production Ratio, 2007-2018
4.4. North America Offshore Rig Construction Market Introduction
4.4.1. North America Offshore Rig Construction Market Size by Number of Active Rigs, Rigs Contracted, Rigs Fleet And Offshore Rig Deliveries
4.4.2. North America Offshore Rig Construction Market Segmentation
4.4.2.1. By Number of Offshore Rigs (or Platforms) Fleet & Rigs (or Platforms) Contracted, 2014
4.4.2.2. By Percentage of Rig Utilization, July 2013- July 2014
4.4.3. Macroeconomic and Industry Factors in North America Offshore Rig Construction Market
4.4.3.1. Oil Production in North America, 2007-2018
4.4.3.2. Natural Gas Production in North America, 2007-2018
4.4.3.3. Proved Oil Reserves and Oil Reserve to Production Ratio in North America, 2007-2018
4.4.3.4. Proved Natural Gas Reserves and Gas Reserves to Production Ratio in North America, 2007-2018
5. Cost Analysis in Constructing an Offshore Rig
5.1. Market Conditions
5.2. Cost Module for Drilling Equipments
5.3. Cost Module for Materials (Steel, Engine and Others)
5.3.1. Cost Module for Steel
5.3.2. Cost Module for Engine and Other Materials
5.4. Cost Module for Labour
5.5. Other Costs Incurred in Construction of Offshore Rig
6. Trends & Developments in Global Offshore Rig Construction Market
6.1. Improvisation in Technology
6.2. Effect of Changing Workforce Environment
6.3. Exchange Rate Volatility
6.4. Rising Investments in Oil & Gas E&P Projects in the World
6.5. Increasing Contracts for the Construction of Newbuild Offshore Rigs
6.6. Cost of Construction of Offshore Rigs, 1998-2016
6.7. Average Day Rates by Rig Type, 2009-2018
7. Issues in Global Offshore Rig Construction Market
7.1. Emissions Caused by Construction of Rigs
7.1.1. Comparative Analysis of Construction Emissions Caused by LOC 400 and standard drilling rigs
7.2. Emissions Caused by Transportation of Rigs
7.2.1. Comparative Analysis of Transportation Emissions Caused by LOC 400 and standard drilling rigs
7.3. Accidents Caused by Offshore Activities
7.3.1. Offshore Oil & Gas Rigs Accidents by Region, 1970-2009
7.3.2. By Annual Distribution of Accidents, 1970-2009
7.3.3. By Different Types of Accidental Categories, 1970- 2012
7.3.4. By Accidental Events for Different Types of Offshore Units, 1970-2009
7.3.5. By Accidental Events in Chain
7.3.5.1. By Different Types of Offshore Activities and Functions, 1970-2009
7.3.5.2. By Different Types of Offshore Units, 1970-2012
7.3.6. By Distribution of Accidents
7.3.6.1. By Accidental Events With Focus on Equipment Related Causes, 1970-2009
7.3.6.2. By Accidental Events With Focus on Human Related Causes, 1970 - 2009
8. Government Legislations in Global Offshore Rig Construction Market
9. Market Share of Major players in Global Offshore Rig Construction Market
9.1. By Rig Deliveries, 2011-2013
10. Competitive Landscape of Major players in Global Offshore Rig Construction Market
10.1. By Major Offshore Rig Construction Companies
10.1.1. Keppel Offshore & Marine
Rig Deliveries By Keppel Offshore & Marine Subsidiaries, 2009 -2013
Financial Performance and Global Workforce of Keppel Offshore & Marine Company, 2007-2013
New Build Offshore Rigs Delivered by Keppel Offshore & Marine Subsidiaries, 2013
Future Strategies
10.1.2. Samsung Heavy Industries (SHI)
Product Portfolio of Samsung Heavy Industries
Financial Performance of Samsung Heavy Industries, 2010-2013
Contracts Won by Samsung Heavy Industries, 2013-2014
Future Strategies
10.1.3. Hyundai Heavy Industries (HHI)
10.1.4. Dalian Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore)
Product Portfolio of DSIC Offshore
10.1.5. China Ocean Shipping Company (COSCO)
10.1.6. Sembcorp Marine
Financial Performance of Sembcorp Marine, 2007-2013
10.2. By Service Providers & Drilling Contractors
10.2.1. Polar Rig Specialties Inc.
10.2.2. Transocean Ltd.
10.2.3. Diamond Offshore
10.2.4. Ensco International Plc
10.2.5. Noble Corporation
10.2.6. Zamil Offshore
11. Global Offshore Rig Construction Market Future Outlook & Projections
11.1. By Rig Deliveries, 2014-2016
11.1.1. By Type of Offshore Drilling Rigs (Jackup, Drillship, Semisubmersible, tender), 2014-2016
11.1.2. By Rig Deliveries by Major Companies, 2014-2016
11.1.3. By Rig Deliveries by Major Countries, 2014-2016
11.2. By Active Offshore Rigs, 2014-2018
11.3. Cause and Effect Relationship between Industry Factors and Global Offshore Rig Construction Market Prospects
12. Macroeconomic and Industry Factors in Global Offshore Rig Construction Market
12.1. Oil Production, 2007-2018
12.2. Natural Gas Production, 2007-2018
12.3. Crude Oils (WTI, Brent and OPEC Basket) Prices, 2007-2018
12.4. Natural Gas (Henry Hub) Prices, 2007-2018
12.5. Proved Oil Reserves and Oil Reserve to Production Ratio, 2007-2018
12.6. Proved Gas Reserves and Gas Reserve to Production Ratio, 2007-2018
13. Appendix
13.1. Market Definitions
13.2. Abbreviations
13.3. Research Methodology
Data Collection Methods
Approach
Limitations
Variables (Dependent and Independent)
Multi Factor Based Sensitivity Model
Final Conclusion
13.4. Disclaimer
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