Offshore drilling refers to the process of extracting oil and gas resources from beneath the seabed in offshore locations. It involves the use of specialized drilling platforms, known as offshore rigs, which are typically stationed in coastal waters or out in the open sea. Offshore drilling begins with the installation of a well, which is a hole drilled into the ocean floor to reach the underground reservoirs. Once the well is established, a combination of drilling fluids and equipment is used t

The impact of offshore drilling rig prices on oil and gas exploration efforts