Offshore oil drilling is the process of extracting fossil fuels from beneath the ocean's surface. This is due to the abundance of oil wells on the ocean floor. However, identifying offshore oil resources and setting up an oil rig on the water's surface can be challenging. Therefore, offshore drilling has become more expensive. Offshore drilling is more expensive than onshore drilling; for example, a single offshore drilling rig can meet a considerable amount of a country's energy requirements. This lessens reliance on the Organization of Petroleum Exporting Countries (OPEC) and diminishes the possibility of oil price manipulation.

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4. Region

5. Markets - Competitive Benchmarking & Company Profiles

6. Research Methodology