On March 23, Rystad Energy, the independent expert in oil and gas services published on its site that drilling activities for the next two years will experience a consecutive rise making plus 12% in 2021 and 19% in 2022. But it will however still fall short of the 73,000 wells drilled in 2019.
Thus, more time will be needed to attain the performances of the pre-Covid period. “Despite an increase in the activity, it will seem that the drilling still needs more time to meet up with pre-Covid levels”, Rystad Energy explained.
However, major projects are in the pipeline. Rystad Energy added that in the off shore segment, drilling activities will increase year-on-year by about 10% in 2020 and 2021. This will bring the number of offshore wells drilled to nearly 2,500 this year, from less than 2,300 in 2020 and we forecast that the corresponding number for 2022 will surpass 2 700.
These projections on the rise in global drilling activity could have remarkable impacts. The Energy Transition Report published by Rystad Energy on march 23, 2021 revealed that “Such a healthy recovery is in fact poised to propel offshore drilling activity beyond pre-pandemic levels during the next two years as the number of offshore wells drilled globally in 2019 in 2019 was just shy of 2,500. This means the recovery of offshore drilling will already happen in 2021, with 2022 being a year of further growth.