Limited Oil & Gas Reserves and Rising Energy Demand Boosts the Business for Oil Drilling Industry in Shallow and Deep Waters - New Report by MicroMarket Monitor - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Limited Oil & Gas Reserves and Rising Energy Demand Boosts the Business for Oil Drilling Industry in Shallow and Deep Waters - New Report by MicroMarket Monitor

Posted:

This article was originally distributed via PRWeb. PRWeb, WorldNow and this Site make no warranties or representations in connection therewith.

SOURCE:

Demand for ultra-deep water rigs is very high and is increasing due to sustained high oil prices and also the desire of oil & gas companies to achieve production targets is driving the demand in all the regions. http://www.micromarketmonitor.com/market-report/ultra-deep-water-reports-5515041891.html

(PRWEB) June 21, 2014

On the account of high prices, offshore oil and gas production has been gradually increasing over the decades and has picked up momentum strongly over the past few years, which has resulted in increase of capital spending in the offshore arena by the oil and gas companies. In order to satisfy this growing demand for oil and gas, E&P companies seek to extract the full potential of remote oil and gas fields, which were once inaccessible because of technological limitations.

Deep water drilling is concerned with the exploration and extraction of oil and natural gas at depths of several thousands of feet (1000 feet approx.). Deep water activities were expensive, however, the high prices of oil and gas during the 21st decade has made deep water drilling feasible. With the advancement in technology and rise in the demand for energy from emerging economies has made the oil and gas companies increase their capital spending in deep water drilling activities.

Ultra-Deep water drilling is concerned with the exploration and extraction of oil and natural gas at depths of several thousands of feet (12000 feet approx.). Demand for ultra-deep water rigs is very high and is increasing due to sustained high oil prices and also the desire of oil & gas companies to achieve production targets is driving the demand in all the regions.

Browse through the market data tables, figures and detailed ToC on the Ultra Deep Water Drilling Market.
http://www.micromarketmonitor.com/market-report/ultra-deep-water-reports-5515041891.html

Related reports:

Shallow Water Drilling Market:
Shallow water drilling activities is the process involving oil and gas exploration and production in less than 500 feet of water. Unlike deep and ultra-deep water, shallow water rigs have legs that reach the bottom of the sea floor and have blowout preventers above the surface of the water that are accessible for inspection, maintenance and repair, and can be controlled either remotely or manually in case of an emergency. Drilling activity in shallow waters is less risky and easier to repair if damaged, because divers are able to reach the well.

http://www.micromarketmonitor.com/market-report/shallow-water-reports-5280647852.html

About MicroMarket Monitor
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.

Contact:
Mr. Chandrasekhar K.
5601 Bridge Street
Suite 300
Fort Worth
TX 76112
Tel: +1-888-502-0539
Email: sales(at)micromarketmonitor(dot)com
Connect with us on LinkedIn at http://www.linkedin.com/company/micromarketmonitor

For the original version on PRWeb visit: http://www.prweb.com/releases/ultra-deep-water/drilling-market/prweb11963625.htm

Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact pressreleases@worldnow.com.

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service