Current Business Affairs Global Offshore Oil & Gas Market 2018 | Page 2

Market Segmentation:
The global offshore oil and gas market is bifurcated based on the type of drilling, platform, offerings and region. Based
on the type of drilling, the offshore oil and gas industry is further segmented as shallow water drilling and deep water
drilling. Shallow water drilling is done near the coastal areas or sea shores which are few feet deep, while the deep
water drilling is done in the deep seas with the depth of thousand feet.
Based on the settlement of production platform, the offshore oil and gas market is divided into fixed platforms and
floating platform. Fixed platforms are attached to the seafloor and have legs resting on the seafloor. These legs are
constructed of concrete or steel. This platform is very stable owing to limited exposure to movements by wind and
water forces. The platforms cannot be used in deep water since; it is very costly to build such long legs. Fixed platforms
were initially used for the offshore development, but as the oil fields have gone deeper, the application of fixed platform
has decreased. Floating platform has become the major solution for offshore production and is preferred as these
platforms can be moved from one place to another. Further, the floating platform segment of the global offshore oil and
gas market is divided into, four types of floating production facilities, which includes floating production storage and
offloading (FPSO) vessels, tension leg platforms (TLPs), spars and semi-submersibles.
Based on the offerings, the offshore oil and gas industry is categorized as services and product & components. Few
companies offer facilities required for the production and focus on finding, augmenting and merchandising different
types of oil and gas and other services. These facilities include well intervention services, and well completion services.
While the product and components include the key components utilized during the process of drilling.
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and-Gas-Market
Region Analysis:
The major companies that provide offshore oil and gas facilities include ExxonMobil, Royal Dutch Shell, Chevron,
PetroChina, Technip, Schlumberger, Baker Hughes, Halliburton, Transocean, NOV, Weatherford International Ltd.,
Calfrac Well Services Ltd. among all the others. These companies are highly focused on research and development and
offering innovative solutions in the offshore oil and gas industry. For Instance, Transocean is drilling deep-water wells
faster as compared to other players. Also, Borr Drilling and Schlumberger together have agreed to offer integrated and
performance-based drilling contracts. The idea behind partnering over this agreement is to leverage Schlumberger’s
expertise with Borr Drilling’s modern jack up fleet.
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