Offshore oil and gas production refers to the oil and gas extraction process that takes place mostly in the seabed and oceans. Oil and gas are extracted from the wells and transferred through ships and pipelines to refineries. With the increased depletion of onshore oil and gas resources, offshore resources experienced a greater demand in the supply of oil and gas. The growing interest in the offshore resources is explained by the fact that over the last 20 years, the number of large offshore discoveries has been greater than the onshore oil and gas explorations. The Global Offshore Oil and Gas market is segmented into two types based on the type of drilling activity: Shallow Water Drilling and Deep Water Drilling. The offshore drilling activity that takes place in a range of 0-650 feet comes under shallow water drilling, and drilling activity beyond 650 feet is categorized as deep water drilling.
Analysts forecast the Global Offshore Oil and gas market to grow at a CAGR of 2.7 percent and 1.9 percent, respectively, over the period 2014-2019.
The report covers the present scenario and the growth prospects of the Global Offshore Oil and Gas market for the period 2015-2019.
Global Offshore Oil and Gas Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global Offshore Oil and Gas market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
- Royal Dutch Shell
Other Prominent Vendors
- Exhausting Onshore Oil Reserves
- Environmental Concerns
- Rapid Technological Advancements
Key Questions Answered in this Report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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Pressure pumping services increase access to the proven reserves, improve the asset value, ROI, and reservoir yield and integrity. They are generally used in maturing reservoirs or places where oil extraction conditions are challenging. The ever-increasing demand for oil and gas has led to a shift toward EOR. This has led to increased activities in unconventional gas plays, which utilize advanced techniques to enhance the reservoir recovery. Hence, pressure pumping has been gaining traction in the market due to increased process complexity of oil and gas exploration.