Most Active Drilling Companies and China’s Influence.

The top companies actively running offshore drilling rigs are

Schlumberger, Halliburton, Baker Hughes, Transocean, Ensco Plc, Diamond Offshore Drilling, Rowan Companies,

Noble Corporation, Seadrill, Weatherford International, Stena Drilling, China Oilfield Services Limited (COSL),

Nabors Industries, Saipem, KCA Deutag, and Parker Drilling.

The global offshore drilling market is anticipated to rise at a considerable rate between 2022 and 2029. In 2021, the market was growing at a steady rate and with the rising adoption of effective strategies by key players, this market is expected to continue to increase.

The market is expected to rise with an impressive Compound Annual Growth Rate (CAGR) and generate the highest revenue by 2029, says a recent report from Fortune Business Insights. The report is titled “Offshore Drilling Rigs Market Size, Share and Trends, 2028“. The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.

Meanwhile the continuing adherence by China to its strict “Zero-Covid” plicy has not only caused massive unrest across all of China, but also continues to depress demand for oil and gas supplies. There are some signs that China’s government may reconsider its approach because of the stifling effect it is having across China as well as the worldwide energy supply market.

“Zero-Covid” as a policy was abandoned by most countries, particularly those countries that have proven more successful in controlling the pandemic. A change in policy and the pursuance of a more “vaccine delivery” policy would not only improve China’s control over its domestic Covid problem, and the obvious political unrest it is causing within the country, but would also help to stimulate the drilling and production market across the world.