Drilling growth is returning after a challenging 2020
According to the independent oil&gas consulting and business intelligence data firm Rystad Energy, after a challenging 2020, around 54,000 oil and gas wells will be drilled around the world in 2021.
The efforts for the vaccination against Covid and the cuts to the OPEC+ supply are supporting the recovery in demand for oil and gas and are proving positive for drilling activity. With regards to 2022 instead, drilling is expected to increase even more, by another 19% on an annual basis to about 64,500 wells, although the activity will still be less than the 73,000 wells drilled in 2019. Onshore drilling should increase by 12% from 46,000 wells drilled in 2020 to about 51,700 wells in 2021.
Regarding offshore drilling, Rystad Energy previews that perforation activity will increase of around 10% in 2021. This will bring the number of offshore wells drilled from less than 2300 to nearly 2500 this year.