With world oil reserves depleting by the day, the hydrocarbons under the ocean floor remain the sole untapped pockets of oil and gas in the world. Increasing number of oil exploration and production companies are showing interest in tapping this resource. Of all the proven hydrocarbon reserves on the earth’s surface, deepwater reserves account for nearly 11%. 
 
Multiple factors are driving growth in this industry today. Earlier the industry faced constraints such as high development costs and nascent stage technologies making investment in it onerous. However with modern technology advancements and increasing number of players in the business, costs of drilling have been driven down to a competitive level.With increasing hydrocarbon prices, the deepwater oil drilled is also becoming cost competitive with surface drilled oil. Proper regulatory framework will also go a long way in supporting this industry.
 
The deepwater hydrocarbon industry may be divided into three broad verticals, namely deepwater exploration, deepwater drilling and deepwater production. Also the industry may be segmented on the basis of depth at which exploration and drilling is being done (Deep water and Ultra deep water). Different depths at which drilling are done has impacts on cost per barrel of hydrocarbons produced. Segmentation can also be done on the type of drilling rigs (fixed platform rig, jack up rig, compliant tower rig, subsea systems, spar platforms) used according to depth of drilling and other factors.
 
Offshore development in Brazil is likely to lead the global deepwater exploration markets globally in the future. Substantial market shares will be held by Brazil, Africa and Mexico centering upon the ‘Deepwater Triangle’ containing very large reserves. Less traditional yet upcoming areas of development in the sector would include the Asia Pacific and European regions. Middle Eastern countries show significant reserves and development potential in the future.
 
Some of the key players in the deepwater and ultra-deepwater exploration industry include Schlumberger Ltd, Transocean Ltd, Oceaneering International Inc., Brazilian Petroleum Corporation, and Trico Marine Services Inc among others.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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