New technology and rich reserves are drawing dramatic investment in deep offshore oil & gas exploration resulting in a large number of offshore installations. As recently as a decade ago, less than 1 percent of oil drilling vessels were incapable of operating at depths of greater than 7,500 feet, with fewer than 10 rigs available. That number has risen quickly to more than 80 rigs as of the year 2012. Exclusively in the oil sector the Western oil majors have invested more than $80 billion so far in 2012 into offshore oil exploration. At present, the demand on standardized as well as customized power supplies for these industry sectors are still rising, exemplifying in this system.
