Semi-Submersible Rigs Market Analysis by Product Type, Applications, Regional Outlook, Technology, Opportunity

Semi submersible apparatuses are particular marine vessels and are explicitly utilized for the seaward oil and gas penetrating business sector. The development of the seaward penetrating industry later on is probably going to encourage the market interest for semi submersible apparatuses during the determined period. Fixed structures are not plausible for completing seaward boring exercises which is the reason these semi submersible apparatuses are bit by bit coming into interest. The semi submersible apparatuses involve a deck upheld by columns, which are additionally associated with barges. The boats by and large go altogether submerged and give a stage which isn’t defenseless to sea choppiness. These semi submersible apparatuses for the most part locate the most applications in territories where the penetrating profundity is over 500 meters.

These semi submersible apparatuses make powerful and stable stages to successfully start penetrating of seaward hydrocarbon saves. These semi submersible apparatuses can be towed into position utilizing towing boats, after which they are tied down into spot. Semi-submersible apparatuses likewise come furnished with dynamic situating frameworks and azimuth engines which can enable them to keep up legitimate situating without the utilization of outside power.

Semi submersible rigs offer a number of advantages over other forms of drilling rigs. It is distinctly different from fully submersible rigs which rest at the bottom of the sea. Semi submersible rigs being disjointed from the seabed can operate in much deeper water as compared to fully submersible rigs. The semi submersible rigs offer high mobility and stability factors especially in a variety of marine conditions. These rigs can be towed at relatively faster speeds and can also operate in larger working areas. These rigs are relatively more expensive to build and operate but justify the initial capital investment over the long run. A major restraint to this market is that it requires large dry dock facilities for repairs. In the event of absence of such facilities, the rigs must be tower to large distances for repairing purposes thus increasing costs.
The rigs may be segmented on the basis of depth of water in which they commence drilling. The depths can be segmented as deep-water and ultra deep-water drilling operations. The rigs can also be segmented on the basis of the mooring systems used. The semi submersible rigs can use either active mooring or passive mooring systems. Whilst the active mooring systems rely extensively on thrusters and dynamic positioning capability the passive mooring systems rely on wires, chains or anchors to maintain a constant position. The offshore rig market has overshot the global demand in terms of supply and is essentially an industry suffering from overcapacity currently.
The Latin American countries along with Brazil, Mexico and Venezuela are some of the major global hubs for the offshore drilling industry. Mexico, Central and South America are showing an extremely attractive rig utilization rate which is a healthy indicator of growing demand in the future.  The European offshore rig market is mature in nature and has shown very moderate growth rates since 2010. The Asia-Pacific demand for semi submersible rigs is likely to show attractive growth rates within the forecast period. The region has a semi submersible rigs utilization rate of over 70% and is likely to emerge as one of the most attractive markets in the future. The geographical market segmentation can be done as Asia- Pacific, The Americas, Europe and Middle East & Africa (MEA).
Some of the major market players in Semi-Submersible Rigs market include Aker Engineering and Technology, Huisman Equipment B.V., Ocean Rig and CIMC group among others.

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