Mobile Offshore Drilling Units Industry Analysed by Visiongain25 Apr 2012 • by Natalie Aster
Oil and gas production from offshore resources is of considerable importance for energy companies as existing base resources are being depleted at a rapid rate. New significant oil discoveries are becoming less common, with the majority of major finds being offshore. A large amount of undeveloped offshore oil and gas fields as well as new offshore discoveries will help drive the MODU market, especially in deepwater. With strong oil prices persisting, major energy companies are increasingly reinvesting their earnings in exploration and development of offshore oil and gas basins. Visiongain has calculated the value of the global MODU market in 2012 will total $48.1bn.
According to the «The Mobile Offshore Drilling Units (MODU) Market 2012-2022» by Visiongain, global oil demand will rise from 88 million barrels today to around 99 million barrels in 25 years time. Over this period the cost of extracting oil will be higher and production from offshore resources will not be as expensive as it was relative to development of onshore hydrocarbons.
The Mobile Offshore Drilling Units (MODU) Market 2012-2022
Published: March, 2012
Price: US$ 2.642,00
Although new technological improvements mean fewer people will be needed on offshore oil and gas drilling rigs, the construction industry behind MODUs and assembly of related technologies is providing employment for thousands of people. For example, the Brazilian marine construction industry has emerged on a vast scale to enable its offshore industry to provide MODUs and technologies for Petrobras to meet its vast oil production targets from its offshore resources.
Most super-major oil and gas companies as well as independent oil and gas companies have each secured a share in the hydrocarbon-rich offshore regions across the globe and demand for MODUs is strong. Meanwhile, health and safety standards and technology have both improved across the industry, leading to a backlog of orders for new-build MODU.
More information can be found in the report “The Mobile Offshore Drilling Units (MODU) Market 2012-2022” by Visiongain.
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