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GBI Research’s report “The Future of the Offshore Drilling Industry to 2015 - Market Analysis, Capital Spend and Competitive Landscape” provides an in-depth analysis of the offshore drilling industry, highlights the various concerns, shifting trends and emerging regions in the global offshore drilling industry. The report provides forecasts on the offshore drilling spend to 2015. The report also provides in-depth analysis of key trends and challenges in the global drilling industry. The report also discusses the major offshore projects globally and provides an analysis of the competitive scenario in each of the geographies. The combination of high energy prices and technological advances are expanding the pool of profitable oil and gas drilling projects, which has driven strong increases in drilling activity in recent years. Along with the increasing demand and decline in reserves of crude oil and natural gas, the price of crude oil and natural gas is expected to continue its upward trend. A large share of the new drilling is directed toward higher cost projects involving drilling in deepwater fields. Factors such as decrease in service costs as the offshore regions mature and technology advancement leading to increased efficiencies and reduction in extraction costs will tend to push the total investments down. Also, the surge of new drilling investment may be hampered by sharply rising upstream capital costs. However, the industry still remains favourable for the continued growth of drilling activities.