The international offshore rig sector has experienced several years of sustained growth on the strength of high global demand and restricted supply of suitable and available rigs. Day rates have risen to some of the highest ever levels. Future prospects for the offshore rig sector look to be positive in the near-term, although current newbuilding orders may place pressure on day rates in the near future. Nevertheless, continuous growth in offshore drilling and production for oil and gas is forecast to maintain interest in the offshore rig sector well into the future.

This detailed Report examines the current/recent supply and demand conditions in each of the main offshore rig markets, covering:

• Jack-ups

• Semi-submersibles

• Drillships

This Report examines the outlook for the offshore rig sectors throughout the period to 2020, through in-depth analysis of recent/current developments and extensive future forecasts.

Included in the Report are detailed analyses and forecasts in the areas of:

• Fleet Development

• Scrapping Levels

• Day Rates

This major new Report provides invaluable independent analysis on the future development prospects for the offshore rig sectors. It represents the most up-to-date and comprehensive examination available of the rig markets, and is essential reading for all parties with an interest in this sector.

SECTION 1 EXECUTIVE SUMMARY

This Section offers a summary of the most significant points and conclusions emerging from the Report – these are presented in the order of the corresponding Sections for ease of reference.

Provides a brief history of offshore production followed by detailed analysis of overall offshore oil and gas production. Each main offshore production region is examined in turn, with further detailed analysis of offshore oil and gas production on a country-by-country level, with the main market/field and technology developments highlighted for the recent past. In addition, offshore rig activity is investigated highlighting offshore developments for the past decade.

Provides an analysis of the mobile rig fleet development by jack-up, semisubmersible and drillship sectors. Provides a detailed examination of the current fleet, by age profile, water depth analysis and fleet utilisation. Newbuilding and secondhand prices are analysed for each of the main sectors. Recent developments in day rates are examined for jack-ups and semi-submersibles, highlighting the substantial growth in recent years.

This Section investigates the top mobile rig owners, by sector and by individual fleet composition. An investigation into regional rig employment since 1993 is outlined, covering the main areas of:-

• North America
• Europe
• Middle East
• Central & South America
• Africa
• Asia/Pacific

There has been considerable interest in the mobile rig sectors in recent years following the rise in employment opportunities and day rates.This Section analyses mobile rig construction by yards and sector since 1997. The current orderbook is investigated, detailing the main yards and the number of rigs contracted for each mobile rig sector.

This Section provides an insight into future developments of offshore oil and gas exploration and production on a regional and country-by-country basis. These forward offshore developments provide a forecast for future offshore oil and gas production in total and by main production region through to 2020. The analysis is presented for the future offshore oil and gas production in the form of Base, Low and High Case scenarios.

SECTION 7 OFFSHORE RIGS: MARKET OUTLOOK TO 2020

This Section investigates future offshore drilling levels and the subsequent supply/demand that will be associated with the fleet development of the main three mobile rig sectors through to 2020. In-depth analyses of scrapping and newbuilding levels are also examined. The Base, Low and High Cases outline future fleet developments under differing economic scenarios. The implications for the day rates are evaluated for the jack-up and semisubmersible sectors.