251844 Awilco_aars_eng.ps - COSL Drilling Europe AS
251844 Awilco_aars_eng.ps - COSL Drilling Europe AS
251844 Awilco_aars_eng.ps - COSL Drilling Europe AS
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The offshore drilling market<br />
Exploration<br />
Development &<br />
construction<br />
Production<br />
Maintenance<br />
Modification<br />
Decommissioning<br />
<strong>Drilling</strong> market<br />
Jackup drilling rigs are used in exploration and production drilling in shallow<br />
water offshore locations throughout the world. The Middle East, West<br />
Africa, US Gulf of Mexico, South East Asia and the North Sea are the<br />
regions with the highest drilling activity.<br />
Exploration and Production activities are driven by the Oil companies<br />
desire to provide the world with sufficient supply of oil and gas products<br />
and the requirement to grow production at a sustainable rate while replacing<br />
production lost through depletion.<strong>Drilling</strong> activity is closely correlated<br />
to oil companies’investments in exploration and production activities<br />
for oil and gas (often referred to as E&P spending).<br />
The majority ofthe world wide jackup drilling fleet was built in the late<br />
1970’s and early 1980’s, and the average age ofthe fleet is in excess of 20<br />
years. In addition to the age of the exisitng fleet, it is expected that new<br />
requirements for drilling deeper and more complex wells, will require<br />
replacement of the older units.<br />
The worldwide jackup drilling rig fleet comprises 385 units, and there are<br />
approximately 60 jackup rigs on order.<br />
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