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— Market Highlights The global market of offshore drilling rigs is growing rapidly due to increased oil & gas exploration activities around the world. Recent discoveries of offshore energy reserves in regions have triggered the growth in the offshore drilling rigs market. Offshore drilling rigs systems are implemented to maximize oil and gas extraction. The existing supply and demand gap in the oil & gas sector has increased the need for efficient search and extraction of oil and gas. Additionally, a renewed interest in shale gas extraction has also driven the offshore drilling rigs market. The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the market for offshore drilling rigs. Market Research Future Analysis: Market Research Future analysis show that the global market of offshore drilling rigs market is estimated to grow at significant growth by the end of year 2022. The demand for offshore drilling rigs in the Asia Pacific region is expected to rise the demand for growing exploration activities in Southeast Asia. Latin America is leading the market of offshore drilling rigs due to equipped with increased cargo capacity and enhanced crew amenities and automation system. Offshore drilling rigs are used for drilling and exploration activities in the offshore arena. The market is also expected to gain traction from the rising investments in oil and gas activities. Moreover, growth of the offshore drilling rigs market is propelled by factors such as growing offshore activities in the harsh environmental conditions of North Sea and depleting oil and gas reserves in the U.S. Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean are driving the demand for jackup rigs in the region. The increase in the number of investments from operators, especially for deep and ultra-deep water activities, fuels the growth of the offshore drilling rigs market. List of Figures Figure 1 Research Methodology Figure 2 Global Offshore Drilling Rigs Market: By Type (%) Figure 3 Global Offshore Drilling Rigs Market: By Operating Depth (%) Figure 4 Global Offshore Drilling Rigs Market: By Region Figure 5 North America Offshore Drilling Rigs Market, By Type (%) Figure 6 North America Offshore Drilling Rigs Market, By Operating Depth (%) Figure 7 Europe Offshore Drilling Rigs Market, By Type (%) Figure 8 Europe Offshore Drilling Rigs Market, By Operating Depth (%) Figure 9 Asia-Pacific Offshore Drilling Rigs Market, By Type (%) Figure 10 Asia-Pacific Offshore Drilling Rigs Market, By Operating Depth (%) Figure 11 Row Offshore Drilling Rigs Market, By Type (%) Figure 12 Row Offshore Drilling Rigs Market, By Operating Depth (%) Related Report Well Test Market Information Report by Well Type (Onshore and Offshore), by Services (Surface testing, Reservoir testing, Downhole Well Testing) and by Region - Global Forecast to 2022 https://www.marketresearchfuture.com/reports/well-test-market About Market Research Future: At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. For more information, please visit https://www.marketresearchfuture.com/reports/offshore-drilling-rigs-market-2689


Until last year the news headlines like - "The offshore drilling market has deteriorated in line with falling oil prices" were making rounds in the News World. However, Market Research Future confirms that it is a thing of the past. In a recently published, deep drilling study report on Offshore Drilling Rigs Market; pointing to the latest trends which will provide an impetus to the growth of the market, MRFR asserts that the global Offshore Drilling Rigs Market will witness an exponential growth.  Further, MRFR roughly mentions that the global Offshore Drilling Rigs Market will reach to a whooping amount of approximately 99.67 Billion USD. Offshore drilling is a mechanical process where a wellbore is drilled below the seabed. It is typically carried out in order to explore for and subsequently extract petroleum which lies in rock formations beneath the seabed. Offshore exploration and development wells are often drilled from mobile offshore drilling units (MODUs). Offshore drilling rigs are classified, mainly based on their movability and how deep the sea bed is. Depending on the water depth and remoteness of the location, these "rigs" may be jack-ups, or semisubmersibles, or drill ships depending upon the depth of the sea fields. There are a variety of offshore vessels, which will not only help in the exploration and drilling activities but also supply to the excavation and construction units. The high demand for crude oil, along with the maturing of onshore oil and gas wells is driving the market for offshore drilling rigs. Moreover, continuous development of offshore reserves and rising deep water production are likely to positively influence the growth of the global offshore drilling market. However, offshore drilling projects require a much longer timeline than onshore drilling rigs, which act as a major barrier to the growth of the market. There have been significant investments made in recent times, in the oil and gas engineering and procurement activities, especially in the Asia-Pacific and Middle East regions, where there is a huge demand for offshore drilling activities. Key Players are opting out to adopt more innovative operational cost cutting measures such as minimizing manning levels, moving rigs out of oversupplied regions, cluster-stacking fleets. Additionally; Innovation, mergers & acquisitions, and brand reinforcement remain the key trends for leading players. Identified and profiled in MRFR analysis; some of the major player operating in the market of offshore drilling rigs are Aban Offshore Limited, China Oilfield Services Ltd, Ensco plc, Diamond Offshore Drilling Inc., Vantage Drilling Co. and Pacific Drilling. Other prominent players of the market include KCA Deutag, Maersk Drilling, Nabors Industries Ltd, Nobel Corporation and others. The offshore drilling rigs Market is segmented in to 3 key dynamics for the convenience of the report and enhanced understanding; Segmentation by Regions: Comprises Geographical regions - North America, Europe, APAC and Rest of the World. Offshore drilling rigs are used for drilling and exploration activities in the offshore arena. The market is also expected to gain traction from the rising investments in oil and gas activities. Moreover, growth of the offshore drilling rigs market is propelled by factors such as growing offshore activities in the harsh environmental conditions of North Sea and depleting oil and gas reserves in the U.S. Growing demand for deep-water activities in the Asia-Pacific region and further drilling into mid ocean are driving the demand for jackup rigs in the region. The increase in the number of investments from operators, especially for deep and ultra-deep water activities, fuels the growth of the offshore drilling rigs market. Latin American is the leading region due to high offshore potential reserves of oil and gas. Moreover, factors such as increasing investments in exploration & production (E&P) lead to the increase the demand for drilling equipment and offshore rigs. The increase in global oil & gas production from North America and the Middle East has made operators focus on offshore markets. Secondly, liberalization of the Mexican oil & gas industry drives the demand for offshore drilling. Latin America is leading the market of offshore drilling rigs due to equipped with increased cargo capacity and enhanced crew amenities and automation system. Asia-Pacific is one of the leading regions for growth in offshore drilling rigs market. The growing demand for energy coupled with the increasing investment in offshore exploration activities will drive the market in the forecast period. Asia-Pacific is among the largest consumers of oil & gas following North America. This demand will lead to more exploration and production in the region. The demand for offshore drilling rigs in the Asia Pacific region is expected to rise the demand for growing exploration activities in Southeast Asia. Well Test Market Information Report by Well Type (Onshore and Offshore), by Services (Surface testing, Reservoir testing, Downhole Well Testing) and by Region - Global Forecast to 2022 At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/offshore-drilling-rigs-market-estimated-as-rigged-with-a-significant-growth-by-2022-300459968.html


News Article | May 29, 2017
Site: www.marketwired.com

TORONTO, ONTARIO--(Marketwired - May 29, 2017) - PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the "Company" or "PetroMaroc") is pleased to announce its financial and operating results for the first quarter of 2017. Commenting, D. Campbell Deacon, Chief Executive Officer of PetroMaroc, said: "In early January 2017, the Company completed the sale and purchase agreement with Sound Energy plc ("Sound Energy"), following which, PetroMaroc's ownership of consideration shares in Sound Energy enable the Company to be positioned to leverage off Sound Energy's operating capability in country and balance sheet whilst retaining material upside with the Sidi Moktar Net Profit Interests. On May 17, Sound Energy announced a rig has arrived at Sidi Moktar. Sound Energy plan to complete a 2 stage workover through May 2017 - June 2017, which will include (i) completion, perforation and testing of the Lower Liassic in Koba-1 and possible additional testing of the Argovian in Koba-1, and (ii) completion, perforation and testing of the Lower Liassic in Kamar-1 and possible additional testing of the Dogger in Kamar-1. Should the wells deliver a commercial flow rate, Sound Energy will complete an Extended Well Test and assuming a successful test, target first commercial gas to the domestic market, around the end of 2017. ...During Q1 2017, general and administrative costs totalled US$0.20 million, representing a 79% decrease in comparison to 2016 (US$0.95 million), and a 61% decrease in comparison to 2015 (US$0.54 million)." During the quarter the Company successfully executed settlement agreements with almost all of its unsecured creditors. PetroMaroc today filed its financial statements for the quarter ended March 31, 2017, together with its Management's Discussion and Analysis in respect of the Company's financial results for the quarter ended March 31, 2017. These documents are available on the PetroMaroc website at www.petromaroc.co or under the Company's profile on SEDAR at www.sedar.com. PetroMaroc Corporation plc is an independent oil and gas exploration company. PetroMaroc holds a substantial share ownership position in Sound Energy plc, and net profit interests in the Sidi Moktar licence (onshore Morocco), which the Company considers to be a committed long-term partner who will work to unlock the hydrocarbon potential of the Essaouira region. PetroMaroc is a public company and its common shares are listed on the TSX Venture Exchange under the symbol "PMA". This press release contains forward-looking statements. Such forward-looking statements relate to future events or the Company's future performance. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "project", "potential", "targeting", "intend", "could", "might", "continue" or the negative of these terms or other similar terms. Forward-looking statements in this press release include, but are not limited to, statements regarding the strength of the ongoing relationship between the Company and Sound Energy, including the ability of the Company to leverage off Sound Energy's operating capabilities in Morocco, the degree of success in connection with the proposed drilling of the Kechoula structure to prove the commercial viability of Sidi Moktar and the value of the net profit interests held by the Company thereon, the ability of the Company to continue to successfully negotiate settlement agreements with its trade creditors in respect to the Sidi Moktar drilling campaign, the value of Sound Energy shares held by the Company which may impact the ability of the Company to repay the principal and interest owing under the New Debentures on maturity, the ability of the Company to negotiate with ONHYM to reduce its potential exposure in respect of the Zag concession, the completion of evaluations and processing and interpretation of data, the performance characteristics of the Company's interests in oil and gas properties, capital expenditure programmes, supply and demand for oil, gas and commodities, prices for oil and gas, drilling plans, and realization of the anticipated benefits of acquisitions. Forward-looking statements are only predictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Some of the risks and other factors which could cause results to differ materially from those expressed in the forward-looking statements contained in this press release include, but are not limited to: unsuccessful test results to be conducted by Sound Energy in respect of the Sidi Moktar concession, the potential decline in the value of the shares in Sound Energy held by the Company which may impact upon the ability of the Company to repay the New Debentures on maturity, the general economic conditions in Canada, the Kingdom of Morocco and globally; industry conditions, including fluctuations in the price of oil and gas, governmental regulation of the oil and gas industry, including environmental regulation; fluctuation in foreign exchange or interest rates; risks inherent in oil and gas operations; political risk, including geological, technical, drilling and processing problems; unanticipated operating events which could cause commencement of drilling and production to be delayed; the need to obtain consents and approvals from industry partners, regulatory authorities and other third-parties; stock market volatility and market valuations; competition for, among other things, capital, acquisitions of reserves, undeveloped land and skilled personnel; incorrect assessments of the value of acquisitions or resource estimates; any future inability to obtain additional funding, when required, on acceptable terms or at all; credit risk; changes in legislation; any unanticipated disputes or deficiencies related to title matters; dependence on management and key personnel; and risks associated with operating in and being part of a joint venture. Although the forward-looking statements contained in this press release are based upon factors and assumptions which management of the Company believes to be reasonable, the Company cannot assure that actual results will be consistent with its expectations and assumptions. Undue reliance should not be placed on the forward-looking statements contained in this news release as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. These statements speak only as of the date of this press release, and the Company does not undertake any obligation to publicly update or revise any forward-looking statements except as expressly required by applicable securities laws. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of PetroMaroc in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration is available.


Zhang X.,Well Test Company | Wen J.,Well Test Company | Wang C.,Great Wall Drilling Engineering Ltd Company
Well Testing | Year: 2015

Using automatic throwing gun device in try combined oil test technologies of TCP+APR can reduce risk for hoisting up pipe and workload, while, accident factors of liquid column pressure entering shot hole gun ahead, and shot hole jam after perforation will led to failure of lost gun, also, impact produced on condition of perforation with over 200m of shot hole guns and force on tube pipe when losing guns influence normal work of packers and pressure gauges. Through risk analysis and process improvement, device of automatically lost guns has been applied in the M-2 oil well operation successfully, and its test is successful. ©, 2015, Well Testing. All right reserved.


Chao X.,Well Test Company | Pengxian L.,Well Test Company | Hongfeng Z.,Well Test Company | Guijuan W.,Well Test Company | Dong Y.,Well Test Company
Well Testing | Year: 2010

Productivity prediction equation for oil formation Fuyu in Chaganhu area is derived based on combination of some static information including logging data etc. and well test results. It avoids the limitation of predicting the early productivity only by logging data alone, and plays a role as a guide to well testing and exploration and development of the field.


Zhang H.,Well Test Company | Gan C.-J.,Well Test Company | Qiu J.-Q.,Well Test Company | Wang Q.-C.,Well Test Company | Liu Y.-X.,Well Test Company
Well Testing | Year: 2016

As the new development block for the Dongping gas field, it is urgent to understand the production capacity of gas well and the connectivity of the well by the well testing to provide the basis for formulating the development project. At present in the gas field, production capacity test is mainly used of modified isochronal well test, testing for multi well is mainly utilized interference well testing, both of them are independent. Through integrated application of deliverability testing and Interference well testing to #1 well, the qualified deliverability testing data is not only acquired, but also the interference well testing data of adjacent wells are obtained. Compared with the traditional testing method, the integrated testing can carry out the interference test through testing of multiple switch interference pulse generated by the modified isochronal well test which has the characteristics of short test period, high construction efficiency, and high admission data to provide a new thought in the well testing of Dongping gas field. © 2016, Well Testing. All right reserved.


Bian S.-W.,Well Test Company | Liu Z.-L.,Well Test Company | Wang H.-J.,Well Test Company | Liu P.,Well Test Company | And 2 more authors.
Well Testing | Year: 2015

After years of development, drainage gas recovery technology for gas wells of producing water has made a great progress, but at present, there are problems of high operation cost, high risk, low efficiency, the frequent on-site operation and low ultimate recovery. In order to improve the recovery efficiency, to realize the purpose of long-term development for single well, it is necessary to make research and testing work for the mechanism and technology of the down-hole vortex drainage gas recovery mechanism, analysis and calculation software, eddy current equipment and supporting tools, pipe string structure design, so as to provide new ideas and methods for drainage gas recovery technology. ©, 2015, Well Testing. All right reserved.


Peng X.-Q.,Well Test Company | Zeng A.-M.,Well Test Company | Liu C.-J.,Well Test Company | Cui Z.,Well Test Company
Well Testing | Year: 2015

Around handling methods to test fluid, typical burner type is listed for combustion process. Focusing on the core factors affecting test of crude oil burner combustion efficiency, four types of spray nozzles structure and characteristics that are the pressure atomization, swirl atomizing, pneumatic nebulization and bubble atomizing are analyzed, and field application of the process control, the ignition system back pressure, water spray, spray nozzle, atomization air supply, noise and radiation, heavy oil combustion of burner is discussed. According to the problems existing in the field application, a suggestion of search and development of a new generation of an-hydrous efficient test burner is proposed. © 2015, Well Testing. All right reserved.


Wen J.-Y.,Well Test Company
Well Testing | Year: 2015

The test to high deviated wells has bigger difference compared with the vertical Wells. During well test in high Angle Wells, problems of leakage of packer and not to be opened of N valve and circulating valve under design pressure are often encountered. Taking Pakistan M-2 inclined well as an example, through analyzing the force to the test tool in the inclined section, precisely calculation to filling nitrogen pressure value of N valve and circulating valve, and corresponding adjust of the test design and the operation, a much high success rate of test for the high deviated wells can be got as the vertical wells. ©, 2015, Well Testing. All right reserved.

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