Jackup rigs are deployed in all major offshore production basins but are particularly numerous in the Middle East, South East Asia, the US GOM and the North Sea. The largest, most modern Jackups can operate in water depths of up to 490 feet. Jackups drill through slots in their deck or have the ability to extend the drilling equipment out over the side of the deck a cantilever.
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The global Jackup rig market is all set to witness double digit growth rate in coming years fuelled by the increase in the global offshore exploration and production activity. The offshore exploration and production activity is growing as a result of rise in energy demand due to growing world population.
The key factors driving the growth of the Jackup rig market are rapid growth in oil demand, rising global energy demand, growth in E&P spending and growing economy. Some of the noteworthy trends and developments of this
