Deepwater oil and gas production is set to increase by 60% by 2030, to contribute 8% of overall upstream production.
Earlier in the year, we reported that the offshore oil and gas sector has been witnessing robust growth across the board, with full-year 2023 data points released by Clarksons Research painting a picture of a sector in the pink of health. Global offshore oil and gas markets posted impressive growth in 2023, with the proprietary Clarksons Offshore Index that tracks rig count as well as offshore support vessels OSV and subsea day rates climbing 27% to a multi-year high of 106 points.
Seadrill Ltd. will drill a test borehole of up to 11,000 meters 36,089 feet, the country's deepest ever, which will help it better understand the Earth's internal structure better, as well as to test underground drilling techniques.
Offshore Oil Oil Production Oil Prices Oil Supply Drilling
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